DJ Hardman & Co Research: Urban Logistics REIT Plc: Six months to September: 8.0% total asset returns
Hardman & Co Research
Hardman & Co Research: Urban Logistics REIT Plc: Six months to September: 8.0%
total asset returns
03-Dec-2020 / 13:00 GMT/BST
Hardman & Co Research: Six months to September: 8.0% total asset returns
The 12 November interims showed an impressive 16.0% annualised total asset
return. The company's "last-touch" distribution warehouse portfolio is in a
strong spot. Market supply is reducing structurally, and demand is growing in
the short and long term. In 2H'21, 17% of leases are being renewed into a
strong market. Deployment of recent equity raises is ahead of schedule, set to
complete (with gearing) by January 2021. Expertise is paying off in an
actively managed portfolio, yet the shares trade barely above NAV and far
below the assets' replacement cost. With FY'22 likely to see assets fully
deployed and with rents rising, the earnings growth is set fair, we believe.
Please click on the link below for the full report:
https://www.hardmanandco.com/research/corporate-research/six-months-to-septemb
er-8 total-asset-returns/ [1]
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by clicking on the above link
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Hardman & Co Mike Foster mf@hardmanandco.com
35 New Broad Street
London
EC2M 1NH
+44 20 7194 7622
www.hardmanandco.com
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1152643 03-Dec-2020
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(END) Dow Jones Newswires
December 03, 2020 08:00 ET (13:00 GMT)
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