Interim results were solid with 13 positive lease events making a partial contribution in the period from +21% lfl rental growth. Income quality remained strong. The manager is exercising disciplined capital allocation to continue to capture earnings accretion; recycling assets at a positive return differential. We expect further recycling in H2. We had assumed a vacant asset in Melton may have been let up by now. We amend the timing of this (pushing the event into FY26e) which results in a mode ....
07 Nov 2024
Solid interims, mindful of vacancy impact on reversion
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Solid interims, mindful of vacancy impact on reversion
Urban Logistics REIT plc (SHED:LON) | 108 0 0.0% | Mkt Cap: 505.2m
- Published:
07 Nov 2024 -
Author:
Andrew Watson -
Pages:
3
Interim results were solid with 13 positive lease events making a partial contribution in the period from +21% lfl rental growth. Income quality remained strong. The manager is exercising disciplined capital allocation to continue to capture earnings accretion; recycling assets at a positive return differential. We expect further recycling in H2. We had assumed a vacant asset in Melton may have been let up by now. We amend the timing of this (pushing the event into FY26e) which results in a mode ....