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Prices & Quotes - UK Markets - Assura (AGR)

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Share Price:
Up 73.60p
Change Today:
0.100p
Market Cap:
1,969.20m
Sector:
Health Care Equipment & Services

Assura ramps up third-quarter investment, makes 'strong progress'

By Abigail Townsend

Date: Monday 11 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Assura hailed strong progress in the third quarter on Monday, after it secured a spate of acquisitions and completed three developments.
In the three months to 31 December, the real estate investment trust - which specialises in primary healthcare properties - completed three developments, moved three schemes on site and completed 16 acquisitions for a combined consideration of 89m.

In the year-to-date, nine developments have been completed and 36 centres acquired. Assura now has a portfolio of 593 properties, with annualised rent roll of 118.0m, up 12% on the same period a year previously.

Chief executive Jonathan Murphy said: "Assura has delivered another quarter of strong progress, as we accelerated investment spend to enhance our portfolio further and drive additional growth.

"Our experienced internal investment and development teams have continued to successfully replenish our acquisition and development pipelines, and we have a significant number of attractive new opportunities.

"Following the 300m issue of our first social bond in September, we fully repaid the secured bond due in December 2021, which completed our long-standing ambition for all financing to be on an unsecured basis."

As at 31 December, net debt was 849m, with undrawn facilities of 225m.

Broker Peel Hunt, which has an 'add' recommendation on the stock and target price of 85p, said: "The company has an immediate acquisition pipeline of 80m, is on site with 15 developments totalling 71m, and has a further 60m of schemes due to start on site within 12 months.

"Assura's 3.7% dividend yield continues to look attractive, despite the large 42% NAV premium. However, Primary Health Properties - upgraded to 'buy' this morning - looks slightly cheaper on most key metrics."

As at 1030 GMT, shares in Assura were largely flat at 79.14p. Shares in rival REIT PHP were ahead a little under 1%, at 158.27p.

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

 

Assura Market Data

Currency UK Pounds
Price 73.60p
Change Today 0.100p
52 Week High 84.50p
52 Week Low 70.90p
Volume 3,224,949
Shares Issued 2,675.55m
Market Cap 1,969.20m
Beta 0.00

Performance Indicators

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What The Brokers Say

Strong Buy 2
Buy 1
Neutral 4
Sell 0
Strong Sell 0
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Assura Dividends

  Latest Previous
  Q4 Q3
Ex-Div 11-Mar-21 10-Dec-20
Paid 14-Apr-21 13-Jan-21
Amount 0.71p 0.71p

Trades for 07-May-2021

Time Volume / Share Price
16:35 3,010 @ 73.60p
16:35 2,545 @ 73.60p
16:35 6,765 @ 73.60p
16:35 1,768,258 @ 73.60p
16:27 997 @ 73.60p

Assura Key Personnel

CEO Jonathan Murphy
CFO Jayne Cottam