Urban Logistics Reit (SHED)

Sector:

Property Investment Trusts

Index:

FTSE 250

119.20p
   
  • Change Today:
    -0.40p
  • 52 Week High: 128.80
  • 52 Week Low: 100.00
  • Currency: UK Pounds
  • Shares Issued: 471.98m
  • Volume: 344,462
  • Market Cap: £562.59m

Urban Logistics acquires five new assets

By Iain Gilbert

Date: Monday 23 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Real estate investment trust Urban Logistics has acquired five new assets for a combined total consideration of £48.0m at a net initial yield of 6.0%.
Urban Logistics said on Monday that it had purchased a 95,352 square foot unit in Worcestershire, a 112,586 square foot unit in Droitwich, a 113,071 square foot unit in Southampton, an 81,699 square foot unit in Rugby, and a 63,488 square foot warehouse near junction 12 of the M4.

The FTSE 250-listed group added that it had also completed two new lettings, generating additional rental income of £200,000, and two lease restructurings, while also reaching practical completion on five units of its forward-funded developments.

Chief executive Richard Moffitt said: "In the period since 30 September 2022, we have selectively deployed capital into assets which provide immediate income at a very attractive yield and provide the potential for value enhancing mid-term asset management opportunities. We have also been able to achieve significant rental uplifts on new lettings, demonstrating the quality of our existing portfolio and proving our asset management strategy.

"In addition, we have completed five developments in this period on time and on budget providing a very attractive yield on cost and demonstrating an additional route through which we can deliver returns for shareholders. We're also pleased to see MSCI recognise our commitment to ESG with a significant upgrade to our rating from CCC to A, which follows our recent upgrades from GRESB and EPRA's sBPR awards, and we look forward to building on this success."

As of 0900 GMT, Urban Logistics shares were down 1.07% at 138.50p.



Reporting by Iain Gilbert at Sharecast.com

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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 119.20p
Change Today -0.40p
% Change -0.33 %
52 Week High 128.80
52 Week Low 100.00
Volume 344,462
Shares Issued 471.98m
Market Cap £562.59m

SHED Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
37.89% below the market average37.89% below the market average37.89% below the market average37.89% below the market average37.89% below the market average
40.74% below the sector average40.74% below the sector average40.74% below the sector average40.74% below the sector average40.74% below the sector average
Price Trend
32.87% below the market average32.87% below the market average32.87% below the market average32.87% below the market average32.87% below the market average
6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average
Income
49.81% above the market average49.81% above the market average49.81% above the market average49.81% above the market average49.81% above the market average
18.52% above the sector average18.52% above the sector average18.52% above the sector average18.52% above the sector average18.52% above the sector average
Growth
97.57% above the market average97.57% above the market average97.57% above the market average97.57% above the market average97.57% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 3
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
  1st Interim 2nd Interim
Ex-Div 23-Nov-23 29-Jun-23
Paid 15-Dec-23 21-Jul-23
Amount 3.25p 4.35p

Trades for 17-Jun-2024

Time Volume / Share Price
16:37 57,484 @ 119.20p
16:35 61,438 @ 119.20p
16:35 487 @ 119.20p
16:35 512 @ 119.20p
16:35 182 @ 119.20p

SHED Key Personnel

CEO Richard Moffitt

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