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Prices & Quotes - UK Markets - TR Property Inv Trust (TRY)

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:
Down 300.00p
Change Today:
-18.00p
Market Cap:
952.05m
Sector:
Equity Investment Instruments

TR Property net asset value grows even as geopolitical concerns weigh

By Josh White

Date: Thursday 28 Nov 2019

LONDON (ShareCast) - (Sharecast News) - TR Property Investment Trust reported a 6.4% improvement in its net asset value per share in its half-year results on Thursday, to 445.12p.
The London-listed firm said shareholders' funds stood at 1.41bn for the six months ended 30 September, up 6.4%, while shares in issue remained stable at 317.4 million.

Its net debt percentage was 11.4%, up from 10% at the end of March.

TR Property's share price grew 7.5% over the end of the last financial year, to 423.5p, while its market capitalisation was 7.5% firmer at 1.34bn.

Revenue earnings per share were up 7.7% at 9.96p, as its net asset value total return slipped to 8.5% from 9.1%, while the benchmark total return improved to 6.7% from 5.6%.

Its share price total return was 9.7%, compared to 6.2% for the year ended 31 March.

"The themes of weakening global growth leading to central bank's monetary stimulus are clear," said chairman Hugh Seaborn of TR Property's outlook.

"It is somewhat less clear what the outcomes will be to major geo-political and economic events such as the US-China trade tensions, the recently announced UK general election and presumed subsequent withdrawal from the European Union.

"However, a decade of ultra low interest rates and a reluctance of governments and corporates to drive capital investment has resulted in strengthened balance sheets but left the world awash with both capital - savings - seeking investment and income."

As a result, Seaborn said the trust found itself in the "peculiar situation", with strong demand for high quality commercial property even at record low yields, but with banks still unwilling to finance speculative development.

He said the result had been steady asset values, outside of retail, coupled with little evidence of over-development.

"Looking forward our managers remain ever vigilant about tenant quality and credit risk so that we focus on secure and stable earnings.

"Low - or even negative - interest rates will support asset prices but, as we are seeing every day in the retail sector, collapsing tenant demand, falling rents and corporate restructurings quickly equates to dramatic valuation falls."

Seaborn said businesses and consumers across continental Europe and the UK had endured three years of political uncertainty, adding that referencing that fact had been a staple part of his outlook over the period.

"I offer no predictions of the political process or outcomes but I would remind investors that TR Property is truly pan-European in portfolio construction, currency exposure and its ability to seek out real estate opportunities."

The board said an interim dividend of 5.2p will be paid on 7 January to shareholders on the register on 6 December, up from 4.9p year-on-year.

At 1052 GMT, shares in TR Property Investment Trust were down 0.32% at 463.5p.

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

 

TRY Market Data

Currency UK Pounds
Price 300.00p
Change Today -18.00p
52 Week High 497.50p
52 Week Low 217.50p
Volume 667,297
Shares Issued 317.35m
Market Cap 952.05m

Performance Indicators

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What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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TRY Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Dec-19 20-Jun-19
Paid 07-Jan-20 30-Jul-19
Amount 5.20p 8.60p

Trades for 27-Mar-2020

Time Volume / Share Price
16:35 81,742 @ 300.00p
16:29 1,657 @ 301.75p
16:29 44 @ 301.50p
16:29 27 @ 301.50p
16:29 8,910 @ 301.54p

TRY Key Personnel