By Frank Prenesti
Date: Tuesday 01 Nov 2022
LONDON (ShareCast) - (Sharecast News) - LondonMetric Property said it had sold two assets for a combined £28.2m reflecting a blended net net initial yield (NIY) of 4.6%.
The separate transactions are made up of a fully-let retail park in Tonbridge, Kent for £22m, reflecting a NIY of 5.25%, and a warehouse in Digbeth, Birmingham, for £6.2m.
LondonMetric said the sales were 1% below its March 31 book value and crystallise an ungeared internal rate of return of 14%. Proceeds will be used in the short term to pay down some of the company's revolving credit facility, it added.
Reporting by Frank Prenesti for Sharecast.com
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Currency | UK Pounds |
Share Price | 203.20p |
Change Today | 3.40p |
% Change | 1.70 % |
52 Week High | 204.20p |
52 Week Low | 156.40p |
Volume | 6,929,690 |
Shares Issued | 2,036.52m |
Market Cap | £4,138.21m |
Value |
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Price Trend |
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Income |
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Growth |
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Strong Buy | 4 |
Buy | 4 |
Neutral | 4 |
Sell | 0 |
Strong Sell | 0 |
Total | 12 |
Latest | Previous | |
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3rd Interim | 2nd Interim | |
Ex-Div | 29-Feb-24 | 30-Nov-23 |
Paid | 08-Apr-24 | 11-Jan-24 |
Amount | 2.40p | 2.40p |
Time | Volume / Share Price |
16:35 | 10,737 @ 203.20p |
16:35 | 2,247,106 @ 203.20p |
16:35 | 2,101 @ 203.20p |
16:35 | 6,960 @ 203.20p |
16:35 | 11,308 @ 203.20p |
Finance Director | Martin McGann |
CEO | Andrew Jones |
Chair | Alistair Elliott |
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