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  • 25 Apr 22
£45m of acquisitions, full deployment in sight

Urban Logistics REIT (URL) has acquired a further £45m of assets at a blended NIY of 6.7%, taking total deployment since the December 2021 £250m fund raise to £184m at a blended yield of 5.4%. URL disclosed that they are on track to be fully deployed on a geared basis by the end of June and that they “are optimistic that we can continue to source attractive value accretive acquisitions that are strategically positioned in current and emerging logistics hubs.” URL will report its annual results t

Companies: Urban Logistics REIT plc
  • 28 Mar 22
£72m acquisitions, deployment progresses at pace

Urban Logistics REIT (“ULR”) has announced it has acquired a further £72m assets – at a 4.6% blended yield – since the last update in February. £140m capital has been deployed since the £250m December equity raise, maintaining the expected pace of investment. The 4 new assets include ULR’s first Central London investment in Battersea. We leave forecasts unchanged: noting only a modest 5% premium to FY22e EPRA NAV, attractive given embedded rental reversion opportunity, and a 4% dividend yield gr

Companies: Urban Logistics REIT plc
  • 08 Feb 22
Hybridan Small Cap Feast 08/02/22

Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Following Nvidia’s decision to walk away from its planned US$40bn takeover of Cambridge-based chip designer Arm from Japan’s Softbank, after regulatory hurdles proved insurmountable, speculation is growing over a potential return to the London Markets. GCP Co-Living REIT plc, intends to float on the Main Market. The Company is a newly established, externally managed investment company, which it is intended w

Companies: SHED SENX MIDW BKS CPX DEST EEE GWMO

  • 08 Feb 22
Deployment continues with acquisition of seven assets

Urban Logistics REIT (“ULR”) has provided an update on recent portfolio evolution: 4 acquisitions deploying £39.5m and a disposal crystallising a 25% IRR. An additional £40m tranche of debt funding has been secured from Aviva. 100% of all prior quarter rent (Oct-Dec) was collected. We make no changes to our forecasts as we assume that all proceeds from the December equity raise are deployed in the near term. We note an attractive 5% dividend yield once all capital is deployed and EPRA NAV headin

Companies: Urban Logistics REIT plc
  • 22 Dec 21
In the sweet spot

It has been a whirlwind few months for Urban Logistics REIT (SHED) as it continues to grow rapidly in one of the best-performing real estate sectors in the UK. The group deployed the proceeds of a July capital raise in short order and earlier this month raised a further £250m to plough into a net asset value (NAV) accretive pipeline. The logistics sector is currently in the sweet spot, with high demand for space and a chronic lack of supply resulting in strong and sustained rental growth. Not re

Companies: Urban Logistics REIT plc
  • 22 Dec 21
In the sweet spot

It has been a whirlwind few months for Urban Logistics REIT (SHED) as it continues to grow rapidly in one of the best-performing real estate sectors in the UK. The group deployed the proceeds of a July capital raise in short order and earlier this month raised a further £250m to plough into a NAV accretive pipeline. The logistics sector is currently in the sweet spot, with high demand for space and a chronic lack of supply resulting in strong and sustained rental growth. Not resting on its laure

Companies: Urban Logistics REIT plc
  • 15 Nov 21
Small Cap Feast 15/11/2021

Banquet Buffet ADM Energy* 1.7p £2.7m (ADME.L) Fundraise and Issue of Equity to Raise £475,000 at 1.5p and Business Update by the natural resources investing company. Conditional Issue of 6,666,667 warrants with an exercise price of 3p each for a period of two years from Admission.  Subscriptions by five Directors amounting to £175,000 at the placing price.  Additional conversion by debt holders, consultants and service providers equating to £228,500 at the placing price. The funds will be used

Companies: SHED AGL ADME AAU KIBO MKA ORPH SEE SGI

  • 11 Nov 21
Ahead of expectations: lease events drive NAV

Urban Logistics REIT (“ULR”) has delivered impressive +8% NAV growth in H1 – ahead of our expectations – with a number of lease events driving value in the portfolio. +6% lfl rental growth has contributed and an increasing WAULT has prompted a lower cap rate (40bps compression, majority not market related). There is more to come in H2, with a number of rent reviews. ULR has a £400m pipeline in excess of current available capital, with the board planning a move to the Main Market. We unwind prude

Companies: Urban Logistics REIT plc
  • 05 Nov 21
Hybridan Small Cap Feast 05/11/2021

Joiners Marks Electrical (MRK.L), a fast growing online electrical retailer, announced has joined AIM. Marks Electrical sells, delivers, installs and recycles a wide range of household electrical products. In the year to 31 March 2021 revenue grew to £56m, up 78% against the previous financial year, while EBITDA increased to £7.45m, at a 13.3% EBITDA margin. The Group has made a strong start to its current financial year to 31 March 2022, with revenue growth of 78% in H1 FY2022, versus 47% growt

Companies: SHED SGI TGP CZA CMCL GFM NICL PRM

  • 05 Nov 21
Three assets acquired for £29m, nearly spent up

A further three assets have been acquired deploying an additional £29m at attractive NIYs. Urban Logistics REIT (“ULR”) remains on track to have spent all available equity and debt by end cal’21. To that end, there are a further £23m investments at advanced stages. In addition, ULR has outlined a £400m pipeline sourced off market. We make no changes to our estimates. We continue to see a strong structural growth story in the last-mile warehouse space as an asset class, with undersupply against s

Companies: Urban Logistics REIT plc
  • 25 Oct 21
Deployment continues, £400m pipeline, move to Premium List

Updating at the end of H1, Urban Logistics REIT (“ULR”) continued to deploy capital, with 2 further transactions in the last weeks of H1 bringing the total to £103m since the last raise (£109m in Jul-21). There is a further £50m in advanced stages and a £400m pipeline beyond that. Yields are in line with expectations and assets are pregnant with active management opportunities, which ULR thrives on. The board is seeking to move to Premium List to facilitate future growth. We leave forecasts unch

Companies: Urban Logistics REIT plc
  • 19 Oct 21
Real estate quarterly report | Third quarter 2021 | Q3 2021

The quarter started with much promise, as activity picked up with the full opening of the economy. This was reflected in the valuation of commercial properties and in turn investor sentiment to the listed real estate sector. However, supply chain issues – exacerbated by a severe lack of HGV drivers – and fears that interest rate rises may rise in the near-term as inflationary pressures mount, had the effect of dampening the economic bounce back. Merger and acquisitions (M&A) gathered pace, with

Companies: ASLI SHED EBOX CSH

  • 22 Sep 21
Hybridan Small Cap Feast 22/09/2021

Joiners No joiners today. Leavers Nucleus Financial Group has left AIM What’s cooking in the IPO kitchen? Eurowag confirms its intention to undertake an initial public offering on the Main Market (Premium). The Offer would be expected to comprise both (i) new Ordinary Shares to be issued by the Company, raising gross proceeds of approximately EUR200m to support Eurowag's growth strategy and (ii) existing Ordinary Shares to be sold by existing Eurowag shareholders. Eurowag is a leading pan-Europe

Companies: ZIN SHED HUW IXI PHC

  • 22 Sep 21
Hybridan Small Cap Feast 22-09-2021

Eurowag confirms its intention to undertake an initial public offering on the Main Market (Premium). The Offer would be expected to comprise both (i) new Ordinary Shares to be issued by the Company, raising gross proceeds of approximately EUR200m to support Eurowag's growth strategy and (ii) existing Ordinary Shares to be sold by existing Eurowag shareholders. Eurowag is a leading pan-European integrated payments & mobility platform focused on the commercial road transportation industry. It make

Companies: ADV UFO HUW IXI PHC PXEN SDI SHED XTR ZIN

  • 10 Aug 21
Shed load of growth to come

Urban Logistics REIT (SHED) is pressing ahead with its ambitious growth strategy, having raised £108.3m in a placing of shares in July 2021. This is the third successful capital raise it has made during the pandemic (totalling £336.7m), 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 ac

Companies: Urban Logistics REIT plc

Urban Logistics REIT plc

Company Profile

  • Personnel
  • Richard Moffitt, CEO

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Urban Logistics REIT plc. We currently have 96 research reports from 7 professional analysts.

  • Open: 176p
  • Range Today: 173/176p
  • 52 Week: 146/200p
  • Daily Volume: 851.7k
  • Daily Liquidity: 0.18%
  • # Shares: 472.0m
  • Market Cap: £821.2m
  • Latest PE (hist): 12.04
  • Div Yield: 2.67

Latest News/RNS

(more news)
Date Source Announcement
03May22 14:11 RNS Urban Logistics REIT - Holding(s) in Company
25Apr22 07:00 RNS Urban Logistics REIT - Acquisitions and asset management update
28Mar22 07:00 RNS Urban Logistics REIT - Acquisitions Update
03Mar22 11:45 RNS Urban Logistics REIT - Replacement: Inclusion in FTSE and EPRA indices
03Mar22 09:23 RNS Urban Logistics REIT - Inclusion in FTSE and EPRA indices
08Feb22 07:00 RNS Urban Logistics REIT - Trading Update
04Jan22 14:47 RNS Urban Logistics REIT - Total Voting Rights
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  • 21 Apr 22
LIBERUM: Emmerson* - Initiation - Best-in-class independent potash play


Companies: Emmerson Plc
  • 27 Apr 22
Upgraded guidance despite asset quality deterioration

The group posted a good set of results characterised by stronger net interest income growth, better cost control and a slower cost of risk normalisation, thus enabling the management to upgrade its full-year RoTE objective to above 11%. On the negative side, asset quality deteriorated markedly, translating into significantly reduced solvency.

Companies: Lloyds Banking Group plc
  • 11 Apr 22
Cenkos: Duke Royalty Ltd -- Effective Capital Deployment

Today, Duke have announced a positive trading update indicating record quarterly and annual revenues following a number of recent top-up investments in existing partners. As a result, we are upgrading FY22E and FY23E forecasts. The company is now expected to have a free cash flow per share of 3.3p in FY23E, which supports a dividend per share of 3p and a dividend yield of 7.5%. Furthermore, this income is naturally resilient to inflation given distribution resets are tied to top-line revenue gro

Companies: Duke Royalty Limited
  • 26 Apr 22
City of London Investment Group (CLIG LN) - 3Q update & Board streamlining

CLIG’s 3Q IMS revealed $147m of net inflows and 4.8% fall in Sterling value of Group Funds under Management “FUM” (using today’s exchange rate the FUM is materially unchanged) and a reorganisation, which streamlines the Board.

Companies: City of London Investment Group PLC
  • 04 May 22
Active Net Zero Clean Energy Index - Recent Performance

In this note, we review the recent performance of the Active Net Zero Clean Energy Index. We also take a deeper dive into the composition of the Index in terms of market cap, constituent end market / business model and, finally, geographic exposure.

Companies: ATOM ADN DRX EQT GSF ITM IES NESF PHE SAE SIT STRLNG TLG VLS

  • 11 May 22
Cenkos: Duke Royalty Ltd -- Majestic Royalty Expansion

Duke has raised £20m in new equity capital, subject to shareholder approval, to fund their continued expansion. The new capital will also support the company's target of increasing their debt facility by a further £25m, and therefore providing a total of £45m of new capital to invest. The increasing scale and diversification of the portfolio is forecast to eventually increase free cash flow per share once full deployment has taken place and will allow Duke to seek a reduction in its debt facilit

Companies: Duke Royalty Limited
  • 16 May 22
LIBERUM: Plus500* - Strong trading leads to FY22 upgrades


Companies: Plus500 Ltd.
  • 06 May 22
Cenkos: Healthcare Sector -- Ward Round

Weekly round-up of AIM-listed healthcare news. Intelligent Ultrasound, Inspiration Healthcare, Agronomics, CareTech Holdings, e-therapeutics, ABCAM, EKF Diagnostics, HUTCHMED (China), Benchmark Holdings, Totally, ImmuPharma, Open Orphan, Destiny Pharma, Polarean Imaging, Induction Healthcare.

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  • 12 May 22
SHORE CAPITAL - H&T Group+ (HAT, House Stock, 364p)


Companies: H&T Group plc
  • 12 May 22
£20m Fundraise Underpins Growth Expectations

MERC has announced a raise of £20m across its first Knowledge-Intensive and annual Enterprise Investment Scheme funds. The raise underpins our AuM growth expectations for the year and highlight future growth potential across both existing and new strategies within the fund management business. The significant valuation dislocation within the Group persists, with MERC’s current market cap of £143m (o/w ~36% cash) implying a significant discount to the balance sheet portfolio and ascribing no valu

Companies: Mercia Asset Management PLC
  • 13 May 22
Cenkos: Healthcare Sector -- Ward Round

Weekly round-up of AIM-listed healthcare news. Agronomics, Eden Research, IXICO, HeiQ, Trellus Health, NetScientific, Circassia, 4basebio, Fusion Antibodies, Surgical Innovations Group, Yourgene Health, Abingdon Health, Verici Dx, Poolbeg Pharma, Omega Diagnostics

Companies: ANIC RUA CREO GENI HEIQ IHC IXI IUG OPTI SBTX VAL VLG

  • 10 May 22
Hybridan Small Cap Feast 10/05/22

Dish of the day Joiners: No Joiners Today. Leavers: No leavers Today. What’s cooking in the IPO kitchen? EnSilica, intends to join AIM. EnSilica is a designer and supplier of mixed signal Application Specific Integrated Circuits (ASICs). ASICs are integrated circuits or semiconductor chips developed for a particular use or product rather than for general purpose usage. ASICs help differentiate products through optimised hardware thereby making products smaller, faster, lower power and more

Companies: XTR XLM VRS SUP ROCK SLE SEMP OHG HDD FIH

  • 12 May 22
Cenkos: MJ Hudson Group Plc -- “Exceptionally strong” Q3 leads to upgrade

Following a very strong Q3, MJH has released a positive FY22E trading update in which it confirms that Adj EBITDA will be at least £8.3m – a 45% YoY increase, and £0.7m ahead of the £7.6m we had been forecasting. This outperformance has been driven, in particular, by solid growth in the higher margin Data & Analytics and Outsourcing divisions, as well as Advisory beginning to recover. We upgrade our Adj EBITDA forecast to £8.3m (Adj EPS up 10% to 2.4p), and also upgrade FY23E Adj EBITDA from £9.

Companies: MJ Hudson Group Plc
  • 16 May 22
Hybridan Small Cap Feast 16/05/22

Dish of the day Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Lekoil, the oil and gas exploration and production Company with a focus on Nigeria and West Africa intends to join the AQSE Growth Market. The Company was previously listed on AIM (LEK.L), however, Ordinary Shares have been suspended from trading on AIM since October 2021. Due 18th May 2022. EnSilica, intends to join AIM. EnSilica is a designer and supplier of mixed signal Application Specifi

Companies: EEE FARN FCAP HZM JLP NSCI SRE

  • 11 May 22
LIBERUM: CLS Holdings* - New dividend policy and proposed tender offer


Companies: CLS Holdings plc