Phoenix Spree Deutschland Limited Shs NPV (PSDL)

Sector:

Real Estate

Index:

FTSE Small Cap

277.00p
   
  • Change Today:
    -3.00p
  • 52 Week High: 327.00
  • 52 Week Low: 212.00
  • Currency: UK Pounds
  • Shares Issued: 97.28m
  • Volume: 58,572
  • Market Cap: £269.46m
  • RiskGrade: 224

Phoenix Spree Deutschland sells non-core Bavarian portfolio

By Digital Look

Date: Friday 07 Apr 2017

LONDON (ShareCast) - (ShareCast News) - Phoenix Spree Deutschland has sold a portfolio of non-core properties in Bavaria, Germany, for a total of €35.25m in cash, as it moves to further focus its operation on capital city Berlin.
It said had exchanged contracts for the portfolio of 17 non-core properties in Nuremberg and Fuerth, having acquired them in 2007 and 2008 for a total price of €13.9m.

Proceeds from the sale represented an 11% premium to the end-2016 valuation by Jones Lang LaSalle. They would be used to reduce debt, fund further acquisitions in Berlin and invest in the existing portfolio.

As a result, properties located in Berlin would represent about 82% of Phoenix Spree Deutschland's portfolio value.

The company said the disposal was expected to have a positive impact on EPRA NAV after transaction costs and taxes.

Chief executive Joerg Schwagenscheidt said the transaction was another important milestone.

"The disposal represents a profitable exit from the region, releasing capital from non-core assets which can be redeployed to increase our exposure to the attractive Berlin residential market."

"We will maintain our highly disciplined approach to acquiring properties in Berlin, targeting those which fit our strict return criteria and where we can continue to add value."

At 14:22 GMT, shares in Phoenix Spree Deutschland were down 0.22% to 232p each.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PSDL Market Data

Currency UK Pounds
Share Price 277.00p
Change Today -3.00p
% Change -1.07 %
52 Week High 327.00
52 Week Low 212.00
Volume 58,572
Shares Issued 97.28m
Market Cap £269.46m
RiskGrade 224

PSDL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
60.91% above the market average60.91% above the market average60.91% above the market average60.91% above the market average60.91% above the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average
Price Trend
3.24% above the market average3.24% above the market average3.24% above the market average3.24% above the market average3.24% above the market average
17.86% above the sector average17.86% above the sector average17.86% above the sector average17.86% above the sector average17.86% above the sector average
Income
12.87% above the market average12.87% above the market average12.87% above the market average12.87% above the market average12.87% above the market average
2.44% above the sector average2.44% above the sector average2.44% above the sector average2.44% above the sector average2.44% above the sector average
Growth
72.52% below the market average72.52% below the market average72.52% below the market average72.52% below the market average72.52% below the market average
51.85% below the sector average51.85% below the sector average51.85% below the sector average51.85% below the sector average51.85% below the sector average

PSDL Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Jun-20 10-Oct-19
Paid 03-Jul-20 25-Oct-19
Amount 4.40p 2.10p

Trades for 10-Jul-2020

Time Volume / Share Price
16:35 10,828 @ 277.00p
16:29 52 @ 277.00p
16:29 88 @ 277.00p
16:28 100 @ 277.00p
16:27 15 @ 277.00p

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