Custodian Reit (CREI)

Sector:

Investment Firms

Index:

FTSE Small Cap

 98.70p
   
  • Change Today:
      0.000p
  • 52 Week High: 107.60
  • 52 Week Low: 92.00
  • Currency: UK Pounds
  • Shares Issued: 440.30m
  • Volume: 1,041,539
  • Market Cap: 434.58m

Ediston buys exposure to retail park revival - Peel Hunt

By Sean Farrell

Date: Tuesday 02 Nov 2021

LONDON (ShareCast) - (Sharecast News) - Ediston Property is an attractive way to buy into the revival of UK retail parks, Peel Hunt said in a positive note about the sector.
Out of town retail parks have performed better than high streets and shopping centres during the pandemic and that trend is set to continue, the broker said.

Retail parks are smaller than shopping centres and will not suffer comparable oversupply, Peel Hunt said. They are also more affordable for tenants and more accessible for shoppers.

Space is more adaptable, the sites are easier to manage and they are "digestible" for potential buyers compared with shopping centres, Peel Hunt said. The broker's analysts pointed out that Next's stores at retail parks have outperformed.

There are nine real estate investment trusts with shopping centres comprising more than 5% of their portfolios, Peel Hunt said. The biggest holder in absolute terms is British Land, whose assets make up almost 60% of the 2.4bn owned by the biggest nine companies.

Ediston has the biggest relative exposure with 74% - and this would increase to abut 98% if the company sells its offices, as flagged up in October, Peel Hunt said.

The company trades at a 14% discount to net asset value and has a 6.5% dividend yield, the broker said. After Ediston the next biggest exposures to retail parks are at NewRiver with 21% and Custodian with 18%.

"Although it is not in our coverage universe, and its current 165m market capitalisation may limit its appeal to some, [Ediston's] current rating and its exposure to retail parks screen as attractive," analyst Matthew Saperia and his team said in a note to investors. "Following a recent c22m acquisition in Stirling it owns a portfolio of 11 retail parks. With the sale of its c70m office portfolio it should have additional firepower to take advantage of other accretive opportunities."

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

 

Custodian Reit Market Data

Currency UK Pounds
Share Price 98.70p
Change Today 0.000p
% Change 0.00 %
52 Week High 107.60
52 Week Low 92.00
Volume 1,041,539
Shares Issued 440.30m
Market Cap 434.58m

Custodian Reit Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
40.12% above the market average40.12% above the market average40.12% above the market average40.12% above the market average40.12% above the market average
31.51% below the sector average31.51% below the sector average31.51% below the sector average31.51% below the sector average31.51% below the sector average
Price Trend
58.52% above the market average58.52% above the market average58.52% above the market average58.52% above the market average58.52% above the market average
57.81% above the sector average57.81% above the sector average57.81% above the sector average57.81% above the sector average57.81% above the sector average
Income
70.69% above the market average70.69% above the market average70.69% above the market average70.69% above the market average70.69% above the market average
83.64% above the sector average83.64% above the sector average83.64% above the sector average83.64% above the sector average83.64% above the sector average
Growth
65.45% below the market average65.45% below the market average65.45% below the market average65.45% below the market average65.45% below the market average
36.22% below the sector average36.22% below the sector average36.22% below the sector average36.22% below the sector average36.22% below the sector average

Custodian Reit Dividends

  Latest Previous
  Q4 Q3
Ex-Div 12-May-22 10-Feb-22
Paid 31-May-22 28-Feb-22
Amount 1.38p 1.38p

Trades for 20-May-2022

Time Volume / Share Price
12:09 425,240 @ 99.00p
16:35 93,026 @ 98.70p
16:29 24 @ 99.10p
16:29 848 @ 98.90p
16:29 1,065 @ 98.90p

Custodian Reit Key Personnel

Chair David Hunter

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