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Prices & Quotes - UK Markets - Hammerson (HMSO)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 36.69p
Change Today:
0.76p
Market Cap:
£1,542.35m
Sector:
Real Estate Investment Trusts

Hammerson sells retail parks for £330m

By Sean Farrell

Date: Wednesday 21 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Hammerson has sold seven retail parks to Canada's Brookfield for £330m in a deal that completes the group's exit from owning retail parks.
The retail property owner said the cash sale was for 8% less than the sites' book value at the end of December. The 205,000 sq m of space included venues in Falkirk, Scotland; Merthyr Tydfil, Wales; and Didcot, near Oxford.

Hammerson said it would use the money from the sale to strengthen its balance sheet. Net debt was £2.2bn at the end of December and liquidity was £1.7bn. The owner of Birmingham's Bullring and Brent Cross in London said it was in talks with Brookfield on 12 April after a report that the private equity firm might pay about £350m for the sites.

The sale to Brookfield, a private equity firm, takes Hammerson's disposals in 2021 to £403m after the company decided to quit owning retail parks. Hammerson has been under severe pressure as rents have fallen and the value of its assets has plunged during the Covid-19 crisis.

Rita-Rose Gagné, Hammerson's chief executive, said: "Our immediate priority is to strengthen the balance sheet. This latest disposal is a positive step." Hammerson shares rose 1.6% to 36.87p at 14:20 BST.

The company posted a £1.7bn loss for its 2020 financial year, with its portfolio value at the end of 2020 down by nearly 36% cent from 2019. The company said on Tuesday that footfall at its English shopping centres was encouraging after non-essential retail was allowed to reopen on 12 April.

Gagné said: "We have successfully welcomed back our customers in England to our flagship venues, with footfall levels well above the June 2020 reopening, and look forward to reopening our other destinations as local restrictions allow over the coming months."





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Hammerson Market Data

Currency UK Pounds
Price 36.69p
Change Today 0.76p
52 Week High 44.25p
52 Week Low 15.01p
Volume 6,377,346
Shares Issued 4,203.74m
Market Cap £1,542.35m

Performance Indicators

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What The Brokers Say

Strong Buy 2
Buy 0
Neutral 7
Sell 0
Strong Sell 5
Total 14
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Hammerson Dividends

  Latest Previous
  Final Interim
Ex-Div 01-Apr-21 19-Nov-20
Paid 13-May-21 18-Dec-20
Amount 0.20p 0.20p

Trades for 23-Jul-2021

Time Volume / Share Price
16:35 1,665,970 @ 36.69p
16:31 133,011 @ 36.75p
16:29 4,296 @ 36.66p
16:29 798 @ 36.66p
16:29 1,427 @ 36.64p

Hammerson Key Personnel