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Latest Share Chat



Newriver Reit Share Chat (NRR)



Share Price: 188.60Bid: 187.60Ask: 188.00Change: 0.00 (0.00%)No Movement on Newriver Reit
Spread: 0.40Spread as %: 0.21%Open: 193.20High: 0.00Low: 0.00Yesterday’s Close: 188.60


Share Discussion for Newriver Reit


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adv11
Posts: 584
Opinion:Buy
Price:189.60
RE: new river reit
Fri 12:04
Despite the problems, I have a lot of faith in NRR's management. -
NewRiver notes the announcement by Arcadia Group on 12 June 2019, confirming that all seven of its Company Voluntary Arrangements ('CVAs') have been approved by the required majority of the companies' creditors.
For the purposes of clarification, NewRiver confirms that its total rental exposure to Arcadia Group is limited to £363,000, which represents 0.3% of the Company's gross income, and that there will be no reduction to this rental income as a result of the CVAs.
 
Obelix
Posts: 11,940
Opinion:No Opinion
Price:190.00
RE: new river reit
Thu 14:03
Mitch, thank you for your time and answer my question.

I believe we will see another RNS tomorrow about Woodford disposal, but I think St. James will add more this week or next.

Ex-dividend date will be next Thursday and I think we will see a good volume from tomorrow until next Wednesday

Have a nice day, take care.

Obelix
mitchoftheday
Posts: 885
Opinion:No Opinion
Price:189.60
RE: new river reit
Thu 11:31
Obelix
According to the NRR website these were the key holdings, as of June 7th (i.e .after the latest RNSs):
Invesco 26%
Woodford 14.9%
St James' Place 5%
Blackrock 4.5%
Total 50.4%
The directors have less than 1% between them (which surpised me. ) So the free float is probably quite close to 50%.
Obelix
Posts: 11,940
Opinion:No Opinion
Price:188.60
RE: new river reit
Wed 20:33
Guys, how many shares are available to the Public? St James and Wood hold more than 25% if I'm not wrong.
moneygrabber
Posts: 339
Opinion:Strong Buy
Price:188.60
RE: new river reit
Wed 17:05
As we get close to ex div day I'm sure the price will rise.

If I had more cash available I'd buy at these levels, the REIT is fundamentally sound and generates excellent cash
Colin64
Posts: 1
Opinion:Strong Buy
Price:194.80
new river reit
Mon 12:11
For REIT's the price to book ratio is important, as the ratio is now 75% this implies that the current share price is 25% undervalued
moneygrabber
Posts: 339
Opinion:Strong Buy
Price:196.60
RE: Woodford forced seller
6 Jun '19
Wish I had the money and confidence to buy more.

I'm suffering big paper losses but continue to believe this company is fairly fire proof and a pretty defensive stock.

Comforting to know most of the share price collapse was due to Woodford and his forced sale and I feel certain at these levels it's a no brainer (in my opinion)
Harry34
Posts: 183
Opinion:Strong Buy
Price:196.20
Woodford forced seller
6 Jun '19
Woodford sold about 5% of the whole company today. No wonder the price is dropping, with such a sizeable forced seller. Buying at this price brings a dividend yield of over 10%. As others have noted they have a credible plan to get to full dividend cover. One of my biggest holdings, but couldn't resist buying more. Same with STOB
AL75
Posts: 1,391
Opinion:Hold
Price:204.50
RE: Berenberg comment
5 Jun '19
Thanks for this. Seems a reasonable assessment.

On the technical side, NRR's weekly candle is showing support at 190 last tested in Dec 2018. For me, next technical target is 246p assuming no retail shocks, which is not prudent in this market.
ericeric
Posts: 5,601
Premium Chat Member
Opinion:Buy
Price:195.00
Berenberg comment
4 Jun '19
NewRiver REIT (NRR LN, Hold; PT GBp 248)

Click here for full report and disclosures

• More stable but not immune: We have lowered our dividend forecasts for NewRiver REIT (NRR) and take a more cautious view of the future performance of its portfolio. We therefore downgrade our rating from Buy to Hold at a reduced price target of 248p from 265p. We regard the company’s decision to keep the dividend flat at 21.6p as reasonable. However, we expect that it will fully cover the dividend only for the next fiscal year, rather than the current year, as it has targeted. Our view is based on our assumption that this year’s lfl rental growth will not improve substantially following the -2% lfl rental growth for the previous year, given that footfall has been -2.4% lfl across the company’s shopping centres. NRR’s decline in footfall was lower than the UK benchmark.
• We note, however, that although NRR’s portfolio outperformed the footfall benchmark by 100bp as of September, the positive spread diminished to just 20bp by March. We continue to believe that NRR’s portfolio is defensive, with affordable rents of £12.52 per sq ft. We also expect the impact from tenant insolvencies to remain limited and vacancy rates to stay low at c5%. However, we believe that rental levels will not pick up soon and that tenants are asking for shorter lease maturities to allow for greater flexibility. We have, therefore, lowered our assumptions for NRR’s portfolio valuation, expecting a further annual decline in net asset value of about 4% in each of the next three years.
• New sources for income: NRR has made good progress on its third-party asset management activities and now has three mandates from public owners. It has also launched a joint venture (JV) with PIMCO (Bravo III), which has already purchased four retail properties for £61m, implying a yield of 9.8. NRR will initially take a 50% stake in the JV’s equity. In general, we welcome that asset management fees will increase the company’s exposure to stable sources of income. However, we also note that, with the new JV, the company’s range of activities continues to widen beyond its £1.3bn letting portfolio and its development pipeline of 1.9m sq ft of total space, of which currently c100,000 sq ft is under construction and planning has been granted for an additional c970,000 sq ft.
• Debt structure a strong plus: A strong advantage, in our view, remains NRR’s debt profile, which is structured on an unsecured basis, giving the company high flexibility when it comes to asset disposals. Furthermore, NRR has substantial headroom for all relevant bond covenants, so we expect Fitch to confirm its investment grade rating of BBB. Our new price target implies a dividend yield of 8.7%. We therefore regard the downside risk for NRR’s share price in the short-term as limited, given the defensive debt structure and current valuation levels of about 10%.
--------------------------------------------------------------------
moneygrabber
Posts: 339
Opinion:Strong Buy
Price:217.00
RE: Uncevered dividend = Future cut?
27 May '19
This is what the company has said recently...

"Looking ahead, we have held our dividend because we are confident that our market positioning, our growth prospects and the strength of our balance sheet give us a clear path to dividend cover"
Fred_Bloggs
Posts: 158
Opinion:Weak Buy
Price:217.00
Uncevered dividend = Future cut?
25 May '19
Just thinking out loud here, I am new to NRR REIT, but it's looking bombed out and the kind of deal I like. But it seems the dividend is not fully covered by income going forward. A REIT has to pay out all its income so will have very little in reserve to support future dividends. A cut is looking likely? I think I'll hold off buying on that basis at the moment. Thoughts please?
Porsche911e
Posts: 23
Opinion:No Opinion
Price:219.00
RE: Bears getting squeezed
24 May '19
Nice to see a mention in the press https://bit.ly/2VN7Myf
ericeric
Posts: 5,601
Premium Chat Member
Opinion:Buy
Price:241.00
Bears getting squeezed
2 May '19
Bears getting squeezed
ericeric
Posts: 5,601
Premium Chat Member
Opinion:No Opinion
Price:240.00
RE: Nice rise
2 May '19
There was a story in the paper saying the Duke of Westminster`s property group was looking to invest in high street property. New River is vulnerable to a bid with half owned by Woodford and Invesco.
Matt1976
Posts: 9
Opinion:Buy
Price:240.50
Nice rise
1 May '19
Any reason for the rise today?
jeeves30
Posts: 9
Opinion:Hold
Price:226.50
RE: Ex Div and Woodford
18 Apr '19
The Woodford/ invesco deal was on the RNS a few days ago. Market reacted well. I thought it was a great endorsement of the company that invesco was prepared to pick up a large holding. For ages the price was held down by the fear of a forced sale by Woodford. His funds still have a big holding (16% from memory), but NRR exposure to woodford lessening. I guess it only took a few sales two days ago for profit takers to cash-in. I think this becomes a buy again at below 220p. The sentiment re property is at best volatile - i think this is a sufficiently good company to use dips as purchasing opportunities. All subject to your own research of course!
AL75
Posts: 1,391
Opinion:Hold
Price:228.00
Ex Div and Woodford
18 Apr '19
Not only has it gone Ex Div, but news emerges that Neil Woodford sold a £42m stake to Invesco on 2nd April.
moneygrabber
Posts: 339
Opinion:Strong Buy
Price:235.50
Sudden drop
17 Apr '19
A very sudden 4p drop late afternoon, the day before it goes ex dividend!!
ericeric
Posts: 5,601
Premium Chat Member
Opinion:Buy
Price:246.00
Downtrend broken
16 Apr '19
18 month downtrend broken .
Harry34
Posts: 183
Opinion:No Opinion
Price:244.50
Deb
9 Apr '19
Love their latest RNS - just 0.1% of the rent roll exposed to Debenhams, and no other department store on the rent roll. Their rental strategy looking very savvy, and does not justify SP falls in line with peers with much more heavy exposure to department stores and the much bigger shopping mall centres.
ericeric
Posts: 5,601
Premium Chat Member
Opinion:Buy
Price:244.00
Increase in final dividend
9 Apr '19
Increase in final dividend implies 21.6p pay out next year for a yield of 8.8%. Remarkable company in a tricky sector having to adapt to change.
ericeric
Posts: 5,601
Premium Chat Member
Opinion:Buy
Price:243.50
8.8% yield
3 Apr '19
8.8% yield, trading at 15% discount to NAV and over 50% owned by 3 institutional holders so vulnerable to a bid especially post Brexit. Has avoided exposure to troubled retailers extremely well.
ericeric
Posts: 5,601
Premium Chat Member
Opinion:No Opinion
Price:239.00
6% of Co traded in one line
2 Apr '19
6% of Co traded in one line today. Woodfood, Invesco ?? Short covering by hedge fund ??
Matt1976
Posts: 9
Opinion:Buy
Price:235.50
Nice rise
28 Mar '19
Nice rise, tho I long for the days of £3+ from last year!




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