Phoenix Spree Deutschland Limited Shs NPV (PSDL)

Sector:

Real Estate

Index:

FTSE Small Cap

180.50p
   
  • Change Today:
      3.00p
  • 52 Week High: 182.50
  • 52 Week Low: 124.50
  • Currency: UK Pounds
  • Shares Issued: 100.75m
  • Volume: 24,168
  • Market Cap: £181.86m
  • RiskGrade: 96

Phoenix Spree Deutschland sells non-core Bavarian portfolio

By Digital Look

Date: Friday 07 Apr 2017

LONDON (ShareCast) - (ShareCast News) - Phoenix Spree Deutschland has sold a portfolio of non-core properties in Bavaria, Germany, for a total of €35.25m in cash, as it moves to further focus its operation on capital city Berlin.
It said had exchanged contracts for the portfolio of 17 non-core properties in Nuremberg and Fuerth, having acquired them in 2007 and 2008 for a total price of €13.9m.

Proceeds from the sale represented an 11% premium to the end-2016 valuation by Jones Lang LaSalle. They would be used to reduce debt, fund further acquisitions in Berlin and invest in the existing portfolio.

As a result, properties located in Berlin would represent about 82% of Phoenix Spree Deutschland's portfolio value.

The company said the disposal was expected to have a positive impact on EPRA NAV after transaction costs and taxes.

Chief executive Joerg Schwagenscheidt said the transaction was another important milestone.

"The disposal represents a profitable exit from the region, releasing capital from non-core assets which can be redeployed to increase our exposure to the attractive Berlin residential market."

"We will maintain our highly disciplined approach to acquiring properties in Berlin, targeting those which fit our strict return criteria and where we can continue to add value."

At 14:22 GMT, shares in Phoenix Spree Deutschland were down 0.22% to 232p each.

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

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PSDL Market Data

Currency UK Pounds
Share Price 180.50p
Change Today 3.00p
% Change 1.69 %
52 Week High 182.50
52 Week Low 124.50
Volume 24,168
Shares Issued 100.75m
Market Cap £181.86m
RiskGrade 96

PSDL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
52.85% above the market average52.85% above the market average52.85% above the market average52.85% above the market average52.85% above the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend
32.29% above the market average32.29% above the market average32.29% above the market average32.29% above the market average32.29% above the market average
21.95% above the sector average21.95% above the sector average21.95% above the sector average21.95% above the sector average21.95% above the sector average
Income Not Available
Growth
33.43% below the market average33.43% below the market average33.43% below the market average33.43% below the market average33.43% below the market average
5.56% below the sector average5.56% below the sector average5.56% below the sector average5.56% below the sector average5.56% below the sector average

PSDL Dividends

  Latest Previous
  Interim Final
Ex-Div 06-Oct-22 12-May-22
Paid 28-Oct-22 09-Jun-22
Amount 2.35p 4.29p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 7,535 @ 180.50p
16:35 379 @ 180.50p
16:35 452 @ 180.50p
16:35 2,027 @ 180.50p
16:35 2,445 @ 180.50p

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