Regional REIT Limited (RGL)

Sector:

Property Investment Trusts

Index:

FTSE Small Cap

21.25p
   
  • Change Today:
      0.20p
  • 52 Week High: 61.90
  • 52 Week Low: 20.15
  • Currency: UK Pounds
  • Shares Issued: 515.74m
  • Volume: 662,636
  • Market Cap: £109.59m

Regional REIT confirms dividend, future payouts on review

By Digital Look

Date: Thursday 16 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Regional REIT confirmed its dividend for the fourth quarter of 2.55p a share but warned that future payouts would be subject to review in light of the Covid-19 pandemic.
Since the period end, ?30.7m of available borrowing headroom had been drawn down, ensuring "ample liquidity", with a cash balance post dividend of ?58.1m, the company said. The company pulled an equity raise last month.

As at 6 April, Regional REIT had collected 81.6% of rent due, in comparison to 83.1% on the same date in 2019. Another 4.8% of tenants had switched to monthly payments, and had either paid or agreed to pay.

Additionally, the board said it expected another 2.3% of tenants to settle within seven days, which in aggregate would amount to 88.7% of rents to be collected.

"Our market fundamentals to date remain robust, however, we will inevitably be impacted by Covid-19 and though we are committed to paying a regular quarterly dividend to our shareholders this will be subject to market conditions, the company's performance, its financial position and business outlook," said Stephen Inglis, chief executive of Regional REIT's asset manager, London and Scottish Property Investment Management.

The London-listed real estate investment trust said income remained stable in the 12 months to December 31 at ?75.6m, compared to ?74.0m a year earlier.

EPRA adjusted earnings per share totalled 7.8p, up from 7.5p in 2018, while its EPRA adjusted earnings per share including realised disposal proceeds were 8.2p, down from 13.7p.

The EPRA net asset value per share slipped to 112.7p from 115.5p, while the group cost of debt decreased to 3.5% from 3.8%.

Regional REIT said it maintained its net loan-to-value ratio below its target of 40% at 38.9%, which was up slightly from the 38.3% it reported at the end of 2018.

It said lease renewals for office and industrial assets achieved a 9.8% increase in the rent roll year-on-year, and added that EPRA occupancy rates remained "robust" due to "active and intensive" asset management at 89.4%, precisely in line with the figure reported a year earlier.



At 1502 BST, shares in Regional REIT were up 5.26% at 86.1p.

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

 

RGL Market Data

Currency UK Pounds
Share Price 21.25p
Change Today 0.20p
% Change 0.95 %
52 Week High 61.90
52 Week Low 20.15
Volume 662,636
Shares Issued 515.74m
Market Cap £109.59m

RGL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
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
Price Trend
88.19% below the market average88.19% below the market average88.19% below the market average88.19% below the market average88.19% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income
89.57% above the market average89.57% above the market average89.57% above the market average89.57% above the market average89.57% 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
Growth
40.46% below the market average40.46% below the market average40.46% below the market average40.46% below the market average40.46% below the market average
3.7% below the sector average3.7% below the sector average3.7% below the sector average3.7% below the sector average3.7% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

RGL Dividends

  Latest Previous
  Q3 Q2
Ex-Div 16-Nov-23 21-Sep-23
Paid 12-Jan-24 19-Oct-23
Amount 1.20p 1.20p

Trades for 21-Feb-2024

Time Volume / Share Price
11:00 2,402 @ 21.14p
10:52 8,000 @ 21.25p
10:49 7,825 @ 21.25p
10:49 8,168 @ 21.25p
10:49 4,230 @ 21.25p

RGL Key Personnel

Chair Kevin McGrath

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