Phoenix Spree Deutschland Limited Shs NPV (PSDL)

Sector:

Real Estate

Index:

FTSE Small Cap

324.50p
   
  • Change Today:
    -0.50p
  • 52 Week High: 377.00
  • 52 Week Low: 270.00
  • Currency: UK Pounds
  • Shares Issued: 97.99m
  • Volume: 173,444
  • Market Cap: £317.98m
  • RiskGrade: 79
  • Beta: 0.02

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 324.50p
Change Today -0.50p
% Change -0.15 %
52 Week High 377.00
52 Week Low 270.00
Volume 173,444
Shares Issued 97.99m
Market Cap £317.98m
Beta 0.02
RiskGrade 79

PSDL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
79.26% above the market average79.26% above the market average79.26% above the market average79.26% above the market average79.26% above the market average
41.82% above the sector average41.82% above the sector average41.82% above the sector average41.82% above the sector average41.82% above the sector average
Price Trend
1.72% below the market average1.72% below the market average1.72% below the market average1.72% below the market average1.72% below the market average
23.33% below the sector average23.33% below the sector average23.33% below the sector average23.33% below the sector average23.33% below the sector average
Income
35.73% above the market average35.73% above the market average35.73% above the market average35.73% above the market average35.73% above the market average
15.00% above the sector average15.00% above the sector average15.00% above the sector average15.00% above the sector average15.00% above the sector average
Growth
40.66% above the market average40.66% above the market average40.66% above the market average40.66% above the market average40.66% above the market average
50.88% above the sector average50.88% above the sector average50.88% above the sector average50.88% above the sector average50.88% above the sector average

PSDL Dividends

  Latest Previous
  Interim Final
Ex-Div 10-Oct-19 06-Jun-19
Paid 25-Oct-19 27-Jun-19
Amount 2.10p 4.60p

Trades for 09-Dec-2019

Time Volume / Share Price
16:35 12,784 @ 324.50p
16:29 47 @ 325.00p
16:29 33 @ 325.00p
16:29 28 @ 325.00p
16:29 11 @ 325.00p

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