Urban Logistics REIT PLC Initiation research from QuotedData
August 10 2021 - 11:19AM
RNS Non-Regulatory
TIDMSHED
Urban Logistics REIT PLC
10 August 2021
Urban Logistics REIT- Initiation research from QuotedData
10(th) August 2021
Shed load of growth to come
Urban Logistics REIT (SHED) is pressing ahead with its ambitious
growth strategy, having raised GBP108.3m in a placing of shares in
July 2021. This is the third successful capital raise it has made
during the pandemic (totalling GBP336.7m), highlighting the
strength and resilience of its investment proposition. SHED is the
only listed company focused solely on the urban logistics
sub-sector, which is benefitting from a surge in demand for space
from e-commerce operators, as online retailing rates accelerate and
are faced with a chronic lack of supply of property.
SHED's manager, led by Richard Moffitt, has an active asset
management approach whereby it can impact the portfolio's value
through lease re-gears (beneficial renegotiations of leases for
existing tenants) and new lettings, meaning it is less reliant on
market conditions. The majority of SHED's assets are acquired
off-market (sourced through contacts rather than through formal
bidding processes), which is testament to the manager's reputation
and skillset - especially with the logistics investment market
being so hot right now.
The company has reached a size that justifies a move from the
AIM market to a premium listing on the main market of the London
Stock Exchange, which should happen in the near future and increase
liquidity in its shares.
Full research:
https://quoteddata.com/research/urban-logistics-reit-shed-load-growth-qd/
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