Urban Logistics Reit (SHED)

Sector:

Property Investment Trusts

Index:

FTSE AIM All-Share

   Trade now with Barclays Stockbrokers   Trade now with Barclays   Sponsored by Barclays Stockbrokers

 129.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 134.00
  • 52 Week Low: 113.50
  • Currency: UK Pounds
  • Shares Issued: 87.75m
  • Volume: 28,680
  • Market Cap: £113.20m

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."

Email this article to a friend

or share it with one of these popular networks:


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 129.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 134.00
52 Week Low 113.50
Volume 28,680
Shares Issued 87.75m
Market Cap £113.20m

SHED Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
6.16% above the market average6.16% above the market average6.16% above the market average6.16% above the market average6.16% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Price Trend
66.11% above the market average66.11% above the market average66.11% above the market average66.11% above the market average66.11% above the market average
51.35% above the sector average51.35% above the sector average51.35% above the sector average51.35% above the sector average51.35% above the sector average
Income
41.67% above the market average41.67% above the market average41.67% above the market average41.67% above the market average41.67% above the market average
17.65% above the sector average17.65% above the sector average17.65% above the sector average17.65% above the sector average17.65% above the sector average
Growth
71.10% above the market average71.10% above the market average71.10% above the market average71.10% above the market average71.10% above the market average
76.47% above the sector average76.47% above the sector average76.47% above the sector average76.47% above the sector average76.47% above the sector average

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 19-Jul-2019

Time Volume / Share Price
14:25 25,000 @ 127.99p
14:25 7,813 @ 127.99p
14:17 777 @ 127.99p
14:02 7,802 @ 127.99p
13:42 266 @ 127.99p

SHED Key Personnel

CEO Richard Moffitt

Top of Page