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Prices & Quotes - UK Markets - St. Modwen Properties (SMP)

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 547.00p
Change Today:
1.00p
Market Cap:
1,217.77m
Sector:
Real Estate Investment & Services

St Modwen sell 3 retail assets for ?34m

By Frank Prenesti

Date: Thursday 28 Nov 2019

LONDON (ShareCast) - (Sharecast News) - St Modwen properties said it had sold three retail assets in Doncaster, Crosby and Kirkby for a combined 34m, representing just over half of the company's remaining non-core retail portfolio as at May 2019.
The assets were sold in three separate deals and the sale amount represented a discount of 9% compared to the May book value.

The disposals follow the sale of 177m of non-core retail assets during 2018 at an average discount to book value of less than 1%, St Modwen said on Thursday.

As a result, St. Modwen's residual non-core retail assets now account for only 2% of its portfolio, down from 16% at the start of 2018, the company said.

Chief executive Mark Allan said the cash would be "reinvested into our substantial industrial and logistics pipeline, which could deliver over 15m sq ft of new space over time".

"With a yield on cost of 8% and a yield on incremental capital expenditure of 9%, delivery of this pipeline is expected to drive meaningful development upside and significant growth in income."

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SMP Market Data

Currency UK Pounds
Price 547.00p
Change Today 1.00p
52 Week High 551.00p
52 Week Low 300.00p
Volume 1,459,752
Shares Issued 222.63m
Market Cap 1,217.77m

Performance Indicators

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What The Brokers Say

Strong Buy 1
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 5
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SMP Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Mar-21 06-Aug-20
Paid 08-Apr-21 02-Sep-20
Amount 3.90p 1.10p

Trades for 18-Jun-2021

Time Volume / Share Price
16:08 115,000 @ 548.50p
16:08 115,000 @ 548.50p
16:05 114,747 @ 548.50p
16:57 154 @ 547.00p
16:47 1,718 @ 547.00p

SMP Key Personnel

CEO Sarwjit Sambhi