Urban Logistics Reit (SHED)

Sector:

Property Investment Trusts

Index:

FTSE AIM All-Share

127.00p
   
  • Change Today:
      1.50p
  • 52 Week High: 134.00
  • 52 Week Low: 113.50
  • Currency: UK Pounds
  • Shares Issued: 87.75m
  • Volume: 18,698
  • Market Cap: £111.44m
  • Beta: 0.00

Urban Logistics sells site in Nuneaton, buys one in Thatcham

By Josh White

Date: Friday 05 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Specialist industrial and logistics real estate investment trust Urban Logistics has sold a site in Nuneaton for £8.1m, it announced on Friday.
The AIM-traded firm said the 130,508 square foot building was purchased as part of a portfolio in September 2017 for £6.7m.

It said the site was being sold to an owner occupier, Cofresh, and realised a profit on cost of 21% and an internal rate of return on equity invested at the property level of 24%.

At the same time, the company said it purchased a logistics property in Thatcham for a total consideration of £3.4m.

The purchase price represented a net initial yield of 5.9%.

Urban Logistics said the site had a rent of £7.97 per square foot and a reversionary yield of around 7.0%, given expected rental growth and its South East location serving the Reading, Henley and Newbury areas.

The acquisition was described by the board as being consistent with its investment strategy of identifying well-located and attractively priced stock with asset management potential, with the site sitting within a location that was seeing "strong" rental growth, eight miles from the M4.

It said the site comprised a 26,478 square foot logistics warehouse let on a new five-year lease to DHL's UK Mail operation, which was using it as a last-mile strategic hub and a key part of its distribution network.

The acquisition was being financed from the company's cash resources.

"I am extremely pleased with the Disposal which has realised a strong return for shareholders," said Urban Logistics chief executive Richard Moffitt.

"The timely re-investment of proceeds and acquisition of this well-located, institutional-grade distribution site let to DHL's UK Mail offers strong rental growth prospects and asset management opportunities in the future, ensuring the portfolio continues working for shareholders.

"Looking ahead, we remain opportunistically acquisitive, focusing on assets that serve the 'last mile' needs of a diverse tenant base, especially those responding to the challenges of e-commerce and supply chain constraints."

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

 

SHED Market Data

Currency UK Pounds
Share Price 127.00p
Change Today 1.50p
% Change 1.20 %
52 Week High 134.00
52 Week Low 113.50
Volume 18,698
Shares Issued 87.75m
Market Cap £111.44m
Beta 0.00

SHED Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
15.13% above the market average15.13% above the market average15.13% above the market average15.13% above the market average15.13% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average
Price Trend
59.40% above the market average59.40% above the market average59.40% above the market average59.40% above the market average59.40% above the market average
18.92% above the sector average18.92% above the sector average18.92% above the sector average18.92% above the sector average18.92% above the sector average
Income
62.72% above the market average62.72% above the market average62.72% above the market average62.72% above the market average62.72% above the market average
52.94% above the sector average52.94% above the sector average52.94% above the sector average52.94% above the sector average52.94% above the sector average
Growth
72.61% above the market average72.61% above the market average72.61% above the market average72.61% above the market average72.61% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SHED Dividends

  Latest Previous
  2nd Interim 1st Interim
Ex-Div 06-Jun-19 29-Nov-18
Paid 28-Jun-19 14-Dec-18
Amount 4.02p 2.98p

Trades for 14-Oct-2019

Time Volume / Share Price
09:09 6,150 @ 128.75p
08:12 767 @ 128.75p
08:03 1,181 @ 126.96p
08:00 10,000 @ 126.75p
08:00 600 @ 126.75p

SHED Key Personnel

CEO Richard Moffitt

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