Urban Logistics REIT (“ULR”) has secured two assets at aggregate £21.7m cost equating to a 6.14% NIY. Both assets have long unexpired lease terms and opportunities for rental growth, as well as scope for value creation through asset management. 99% of rents for the Jun-21 quarter have already been collected. ULR offers a 6% dividend yield on the annualised returns from capital deployed in FY22e. With the price at NAV, we think that this represents an attractive entry point into an active value c ....
