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Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on TR Property Investment Trust. We currently have 1 research reports from 1 professional analysts.

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Range Today
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52 Week
362/434p
Market Cap
£1,250m
Enterprise Value
£1,351m
Pension Liability
£0m
# Shares
317.4m
Latest PE (hist)
32.26
Div Yield
2.86

Latest News/RNS

(more news)
Date Source Announcement
02Oct18 16:54 RNS Notification of Board Committee Changes
24Jul18 17:31 RNS Result of AGM
18Jul18 17:31 RNS Holding(s) in Company
20Jun18 13:51 RNS Annual Financial Report
31May18 07:00 RNS Final Results
01May18 11:35 RNS Compliance with Market Abuse Regulation
28Mar18 10:12 RNS Holding(s) in Company
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  • Frequency of research reports

     

  • Research reports on

    TR Property Investment Trust

  • Providers covering

    TR Property Investment Trust

  • 16 Oct 18

Target price increased – buying opportunity

Equity investors are usually looking for companies that have opportunities to deploy incremental capital at high returns. Burford Capital is, in our view, a prime example of this as it continues to apply its legal and financial skills to the business of law. It’s recent, well-timed, 5% placing at 1850p to raise c.$250m looks to us simply a logical response to the ever-expanding opportunities, on which we comment herein. This has coincided with market volatility, hitting the best performing shares on AIM the hardest. We have updated our estimates (3-4% reduction FY’18 and ’19, 5% increase FY’20) and increase our 12m TP 6% offering a 29% TSR. The exaggerated fall in the shares offers a compelling buying opportunity, in our view.

Companies: Burford Capital
  • 17 Oct 18

LIBERUM: AFH Financial Group* - Reload. £15m cash now ready to deploy

AFH has successfully raised £15m at 370p. The statement makes clear that there is a strong pipeline, but we assume no acquisitions in numbers, hence our FY19 estimate falls 8%.

Companies: AFH Financial Group
  • 10 Oct 18

LIBERUM: Miton Group* - Full year net flow target reached. 2019 EPS upgraded 6%

Miton has reported net flows for the 9m to end September which are ahead of our full year expectations. Net inflows grew AUM by 24% in this 9m period, while we expect 15% growth from net new money in 2019.

Companies: Miton Group
  • 18 Oct 18

1H trading update

Tatton Asset Management (“Tatton”), has provided an unaudited update ahead of its interim results to 30 September 2018, which will be released on 15 November.

Companies: Tatton Asset Management
  • 18 Oct 18

Q4 above forecast, underpins strong outlook

The group’s Q4 update confirmed that a transformational year (AUM +72%) finished well, with another 6% growth in AUM during the final three months to £12.5bn at end September 2018. That was above our forecast and comprised a £334m net inflow, boosted by £534m of investment performance/FX.

Companies: Impax Asset Management Group
  • 18 Oct 18

Mercia Technologies - Realising value

Mercia Technologies (Mercia) is a leading player in the funding and scaling of high growth companies from the UK regions, with a business model that is significantly de-risked vs peers. £400m of managed funds (Mercia Fund Managers, MFM) are used to predominately support all early-stage activity, whilst also providing meaningful revenue to offset group operating costs. As a result, the balance sheet investment is reserved for only the most promising companies or ‘Emerging Stars’ sourced from MFM. The group has a strong cash position and an experienced management, as well as a good track record, with three successful full cash exits to date. The shares trade at 0.73x NAV, not including the contribution from MFM, which we estimate at a further c 9p per share (total discount to NAV of 0.60x).

Companies: Mercia Technologies
  • 04 Oct 18

THE MONTHLY October 2018

We are in the midst of the Conference season for political parties and trade unions in Britain. We all have a lot on our minds, with generational constitutional issues to the fore, but these have come to the fore after many years of concerns building up about citizens’ ‘place in the world’.

Companies: OPM AGY ARBB AVCT DISH BNO BUR CMH CLIG DNL DPP GTLY GDR HAYD KOOV MCL MUR NSF OXB PHP RE/ REDX SCE SIXH TRX TON VAL VTA W7L

  • 11 Oct 18

LIBERUM: Workspace Group* - Three levers for growth

Workspace’s property tour focused on the growth still to be achieved from its assets with a visit to a recent acquisition with rental growth upside, a completed refurbishment which is letting up strongly and an asset with significant redevelopment potential. Ahead of Workspace's first half results, we expect current trading to have remained good and comfortably supportive of our full year forecasts.

Companies: Workspace Group
  • 13 Aug 18

LIBERUM: Plus500* - Now the #1 CFD broker in UK, Germany and Spain. 90% of FY est’s earned in H1!

Amazing H1/18 results with revenue +147% yoy and PAT +190% yoy. Customer deposits in H1 were up 130%, though Singapore is just getting going. The company has made diligent progress with the Elective Professionalisation offer to qualifying EEA clients, who already represent 22% of EEA revenues, and they expect to hit over 40% (cf. IG expecting 50%).

Companies: Plus500
  • 28 Sep 18

LIBERUM: AFH Financial Group* - Closing the advice gap one deal at a time

AFH continues to grow organically and to acquire not just very accretively, but in a way which builds a stronger brand and a better business. It seems extremely undervalued for a business whose expansion is accelerated by regulation, where returns are high and rising and revenues are 60% recurring.

Companies: AFH Financial Group
  • 09 Oct 18

Randall & Quilter Initiation Note - Radical & Quality

Randall & Quilter has undergone a transformation over the last two years; simplifying its operating model, releasing cash, and developing an exciting Live (Program Management) business which promises to provide a key balance for its core Legacy business in terms of earnings visibility, capital use, and cash generation. The company's interim results reported several key milestones in both areas, notably the largest ever Legacy acquisition and significant future Gross Written Premiums for Program Management. An announcement which exuded optimism highlighted the potential for current year profitability to be strong and, possibly, ahead of expectations. Longer term growth is likely to come from a more balanced combination of Legacy and Program Management earnings with the potential for greater cash generation. Accordingly, consensus forecasts for adjusted 2018 EPS have increased by over 30.0% while both distribution and Net Tangible Assets per share moved higher.

Companies: Randall & Quilter Investment
  • 15 Aug 18

H&T Group PLC - Disciplined Growth in H1

H&T Group PLC (LON:HAT), the UK market leader in pawnbroking, released results on August 14 for the first half of 2018, showing sustained growth both in the core pawnbroking and other financial services.

Companies: H&T Group
  • 03 Oct 18

LIBERUM: Ramsdens Holdings* - H1 in line, despite the summer. Organic growth on 9x.

Ramsdens H1 2019 trading update shows them on track for a growth year. The virtues of diversified income streams are seen through the strength in jewellery retail making up for an FX retailing business which saw weaker demand as a result of the UK’s exceptional summer.

Companies: Ramsdens
  • 11 Oct 18

Good flows but uncertainty prompts caution

AuM grew by 5.4% to £12.0bn in Q2 on strong flows in Economic Advantage and Sustainable strategies. The new Global Fixed Income team has developed a good foundation, raising c. £300m since launch in Q1. We have seen two consecutive positive AuM readings, but recognise recent market volatility and an uncertain political outlook. We tweak our EPS forecasts up by 2-3% on a combination of higher revenue and increased prudence on costs. Valuing Liontrust on 14x FY19e PER (unch) drives our increased 684p 12m Target Price. We retain our HOLD recommendation.

Companies: Liontrust Asset Management
  • 26 Jul 18

No need to appeal these results

The 2018 interims yet again gave record figures, with the headline figures showing income and profits after tax both up 17%. The stand-out figure, however, was cash generation, which was boosted by the sale of the Teinver claim and came in at $299m. The main driver behind this growth remains the litigation finance business, which accounted for almost 95% of revenue. Revenue in this business rose by 21% and profit after tax by 23% to $185.4m. New business remained strong, with additions to investments up 19% on 1H’17, and total commitments increasing by 10%. Strong realisations offset some of this, and invested capital grew by 7% over the period.

Companies: Burford Capital