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NewRiver REIT

LSE:NRR
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NRR
LSE
£700M
Market Cap
  1. Home
  2. GB
  3. Real Estate
Company description

NewRiver REIT plc (‘NewRiver’) is a leading Real Estate Investment Trust specializing in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK. The last earnings update was 179 days ago. More info.


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NRR Share Price and Events
7 Day Returns
0.2%
LSE:NRR
0%
GB REITs
1.3%
GB Market
1 Year Returns
-12.9%
LSE:NRR
-6.7%
GB REITs
-5%
GB Market
NRR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NewRiver REIT (NRR) 0.2% 2% 7.9% -12.9% -26.3% -23.3%
GB REITs 0% 0.1% 1.9% -6.7% -5.9% 5.9%
GB Market 1.3% -1.6% 1.9% -5% 15.8% 2.5%
1 Year Return vs Industry and Market
  • NRR underperformed the REITs industry which returned -6.7% over the past year.
  • NRR underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5% over the past year.
Price Volatility
NRR
Industry
5yr Volatility vs Market

Value

 Is NewRiver REIT undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of NewRiver REIT to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for NewRiver REIT.

LSE:NRR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:NRR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.52
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.523 (1 + (1- 19%) (73.27%))
0.888
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.888 * 6.65%)
7.13%

Discounted Cash Flow Calculation for LSE:NRR using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for NewRiver REIT is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NewRiver REIT is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

LSE:NRR DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (GBP, Millions) Source Present Value
Discounted (@ 7.13%)
2019 63.00 Analyst x1 58.81
2020 65.00 Analyst x1 56.63
2021 66.22 Est @ 1.87% 53.85
2022 67.33 Est @ 1.68% 51.11
2023 68.37 Est @ 1.54% 48.45
2024 69.36 Est @ 1.45% 45.88
2025 70.32 Est @ 1.38% 43.41
2026 71.26 Est @ 1.34% 41.07
2027 72.18 Est @ 1.3% 38.83
2028 73.11 Est @ 1.28% 36.71
Present value of next 10 years cash flows £474.75
LSE:NRR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £73.11 × (1 + 1.23%) ÷ (7.13% – 1.23%)
£1,253.31
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £1,253.31 ÷ (1 + 7.13%)10
£629.33
LSE:NRR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £474.75 + £629.33
£1,104.08
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £1,104.08 / 301.20
£3.67
LSE:NRR Discount to Share Price
Calculation Result
Value per share (GBP) From above. £3.67
Current discount Discount to share price of £2.33
= -1 x (£2.33 - £3.67) / £3.67
36.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price NewRiver REIT is available for.
Intrinsic value
37%
Share price is £2.33 vs Future cash flow value of £3.67
Current Discount Checks
For NewRiver REIT to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • NewRiver REIT's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • NewRiver REIT's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for NewRiver REIT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are NewRiver REIT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:NRR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in GBP £0.06
LSE:NRR Share Price ** LSE (2019-05-17) in GBP £2.33
United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio Median Figure of 44 Publicly-Listed REITs Companies 12.21x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 788 Publicly-Listed Companies 16.24x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of NewRiver REIT.

LSE:NRR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:NRR Share Price ÷ EPS (both in GBP)

= 2.33 ÷ 0.06

36.75x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NewRiver REIT is overvalued based on earnings compared to the GB REITs industry average.
  • NewRiver REIT is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does NewRiver REIT's expected growth come at a high price?
Raw Data
LSE:NRR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 36.75x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
50.5%per year
United Kingdom of Great Britain and Northern Ireland REITs Industry PEG Ratio Median Figure of 25 Publicly-Listed REITs Companies -0.28x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 574 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

LSE:NRR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 36.75x ÷ 50.5%

0.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NewRiver REIT is good value based on expected growth next year.
Price based on value of assets
What value do investors place on NewRiver REIT's assets?
Raw Data
LSE:NRR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in GBP £2.85
LSE:NRR Share Price * LSE (2019-05-17) in GBP £2.33
United Kingdom of Great Britain and Northern Ireland REITs Industry PB Ratio Median Figure of 54 Publicly-Listed REITs Companies 0.93x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,368 Publicly-Listed Companies 1.51x
LSE:NRR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:NRR Share Price ÷ Book Value per Share (both in GBP)

= 2.33 ÷ 2.85

0.82x

* Primary Listing of NewRiver REIT.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NewRiver REIT is good value based on assets compared to the GB REITs industry average.
X
Value checks
We assess NewRiver REIT's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. NewRiver REIT has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is NewRiver REIT expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
50.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is NewRiver REIT expected to grow at an attractive rate?
  • NewRiver REIT's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • NewRiver REIT's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • NewRiver REIT's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:NRR Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:NRR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 50.5%
LSE:NRR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 6.3%
United Kingdom of Great Britain and Northern Ireland REITs Industry Earnings Growth Rate Market Cap Weighted Average 17.7%
United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.8%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:NRR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:NRR Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 131 2
2020-03-31 119 65 50 3
2019-03-31 112 63 42 3
LSE:NRR Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-09-30 116 43 19
2018-06-30 112 42 32
2018-03-31 108 42 46
2017-12-31 110 49 52
2017-09-30 111 57 59
2017-06-30 106 58 48
2017-03-31 102 60 36
2016-12-31 91 57 35
2016-09-30 81 55 34
2016-06-30 75 53 52
2016-03-31 69 51 69
2015-12-31 64 39 69

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • NewRiver REIT's earnings are expected to grow significantly at over 20% yearly.
  • NewRiver REIT's revenue is expected to grow by 6.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:NRR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from NewRiver REIT Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:NRR Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 0.14 0.14 0.14 1.00
2020-03-31 0.11 0.17 0.06 2.00
2019-03-31 0.09 0.14 0.04 2.00
LSE:NRR Past Financials Data
Date (Data in GBP Millions) EPS *
2018-09-30 0.06
2018-06-30 0.11
2018-03-31 0.16
2017-12-31 0.20
2017-09-30 0.24
2017-06-30 0.20
2017-03-31 0.15
2016-12-31 0.15
2016-09-30 0.15
2016-06-30 0.26
2016-03-31 0.39
2015-12-31 0.45

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • NewRiver REIT is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess NewRiver REIT's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
NewRiver REIT has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has NewRiver REIT performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare NewRiver REIT's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • NewRiver REIT's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • NewRiver REIT's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • NewRiver REIT's 1-year earnings growth is negative, it can't be compared to the GB REITs industry average.
Earnings and Revenue History
NewRiver REIT's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from NewRiver REIT Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:NRR Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 116.32 19.21 18.79
2018-06-30 112.37 32.47 17.95
2018-03-31 108.43 45.73 17.10
2017-12-31 109.53 52.35 16.46
2017-09-30 110.63 58.96 15.82
2017-06-30 106.48 47.58 14.95
2017-03-31 102.33 36.20 14.08
2016-12-31 91.44 34.96 13.59
2016-09-30 80.55 33.72 13.10
2016-06-30 74.96 51.57 12.91
2016-03-31 69.38 69.41 12.72
2015-12-31 63.54 69.39 11.92
2015-09-30 57.71 69.38 11.12
2015-06-30 48.66 54.45 10.57
2015-03-31 39.61 39.53 10.01
2014-12-31 33.15 34.85 8.98
2014-09-30 26.69 30.17 7.95
2014-06-30 24.59 26.61 7.15
2014-03-31 22.49 23.05 6.36
2013-12-31 20.32 14.60 5.48
2013-09-30 18.14 6.15 4.60
2013-06-30 17.75 3.82 4.67
2013-03-31 17.35 1.50 4.74
2012-12-31 17.48 1.54 4.61
2012-09-30 17.60 1.58 4.48
2012-06-30 16.50 2.71 4.24

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • NewRiver REIT has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • NewRiver REIT used its assets less efficiently than the GB REITs industry average last year based on Return on Assets.
  • NewRiver REIT has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess NewRiver REIT's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
NewRiver REIT has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is NewRiver REIT's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up NewRiver REIT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • NewRiver REIT is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • NewRiver REIT's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of NewRiver REIT's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from NewRiver REIT Company Filings, last reported 7 months ago.

LSE:NRR Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 864.27 513.12 30.38
2018-06-30 864.27 513.12 30.38
2018-03-31 892.38 457.13 115.92
2017-12-31 892.38 457.13 115.92
2017-09-30 906.22 372.02 71.22
2017-06-30 906.22 372.02 71.22
2017-03-31 684.54 405.53 45.96
2016-12-31 684.54 405.53 45.96
2016-09-30 674.55 409.42 38.75
2016-06-30 674.55 409.42 38.75
2016-03-31 689.87 317.07 114.46
2015-12-31 689.87 317.07 114.46
2015-09-30 521.04 310.71 24.61
2015-06-30 521.04 310.71 24.61
2015-03-31 339.70 183.32 15.73
2014-12-31 339.70 183.32 15.73
2014-09-30 252.59 137.17 10.81
2014-06-30 252.59 137.17 10.81
2014-03-31 239.63 132.46 89.56
2013-12-31 239.63 132.46 89.56
2013-09-30 146.96 137.73 50.80
2013-06-30 146.96 137.73 50.80
2013-03-31 79.79 139.47 7.55
2012-12-31 79.79 139.47 7.55
2012-09-30 76.44 134.96 5.11
2012-06-30 76.44 134.96 5.11
  • NewRiver REIT's level of debt (59.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (93% vs 59.4% today).
  • Debt is not well covered by operating cash flow (8.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5x coverage).
X
Financial health checks
We assess NewRiver REIT's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. NewRiver REIT has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is NewRiver REIT's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.29%
Current annual income from NewRiver REIT dividends. Estimated to be 9.54% next year.
If you bought £2,000 of NewRiver REIT shares you are expected to receive £186 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • NewRiver REIT's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.99%).
  • NewRiver REIT's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.21%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:NRR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland REITs Industry Average Dividend Yield Market Cap Weighted Average of 49 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.3%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:NRR Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 0.22 3.00
2020-03-31 0.22 4.00
2019-03-31 0.22 4.00
LSE:NRR Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-04-09 0.216 9.193
2018-11-21 0.216 9.824
2018-09-28 0.216 8.636
2018-06-07 0.216 8.080
2018-05-24 0.216 7.433
2018-04-13 0.210 7.348
2018-01-18 0.210 7.051
2017-09-20 0.210 6.372
2017-05-16 0.210 6.018
2017-04-11 0.200 5.809
2017-01-18 0.200 6.043
2016-09-23 0.200 6.112
2016-07-21 0.200 6.287
2016-06-14 0.200 6.599
2016-05-25 0.200 6.300
2016-04-15 0.190 5.892
2015-10-13 0.180 5.343
2015-04-08 0.170 5.226
2014-11-20 0.170 5.733
2014-09-17 0.170 5.817
2014-05-23 0.000 0.000
2014-05-15 0.000 0.000
2013-05-23 0.160 6.210
2012-05-29 0.180 9.285
2012-05-28 0.180 9.536
2011-11-29 0.120 5.734
2011-06-23 0.055 2.297
2011-06-01 0.055 2.083
2010-12-07 0.020 0.807

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, NewRiver REIT has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but NewRiver REIT only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of NewRiver REIT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.9x coverage).
X
Income/ dividend checks
We assess NewRiver REIT's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can NewRiver REIT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. NewRiver REIT has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of NewRiver REIT's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Allan Lockhart
COMPENSATION £1,128,120
AGE 52
TENURE AS CEO 1 years
CEO Bio

Mr. Allan Lockhart serves as the Chief Executive Officer of NewRiver REIT plc since May 1, 2018 and serves as its Director since November 19, 2010. He Founded NewRiver REIT plc in 2009. He served as a Property Director of NewRiver REIT plc since 2009 until May 2018 and served as a Property Director of NewRiver Capital Limited. He has over 25 years of experience in the UK real estate market, specialised in the retail sector. He started his career with Strutt & Parker in 1988 advising major property companies and institutions on retail investment and development. He served as Retail Director at Halladale (now Stockland) since January 2002 and was responsible for coordinating the acquisition and implementation of the asset management strategies of over 20 shopping centres as well as to acquire and complete several profitable retail developments. Mr. Lockhart serves as a Director of Newriver Retail Culs No 1 Ltd.

CEO Compensation
  • Allan's compensation has been consistent with company performance over the past year.
  • Allan's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the NewRiver REIT management team in years:

0.8
Average Tenure
52
Average Age
  • The average tenure for the NewRiver REIT management team is less than 2 years, this suggests a new team.
Management Team

Allan Lockhart

TITLE
Founder
COMPENSATION
£1M
AGE
52
TENURE
1 yrs

David A. Lockhart

TITLE
Executive Deputy Chairman
COMPENSATION
£1M
AGE
73
TENURE
1 yrs

Mark Davies

TITLE
CFO & Director
COMPENSATION
£1M
AGE
42
TENURE
8.6 yrs

Annabelle Cooper

TITLE
Group Accountant
TENURE
0.3 yrs

Patrick Colgan

TITLE
Director of Corporate Finance
TENURE
2 yrs

Will Hobman

TITLE
Head of Investor Relations & Strategy

David Shipton

TITLE
Corporate Development & Strategy Director
TENURE
0.3 yrs

Lucy Mitchell

TITLE
Director of Marketing

Edith Monfries

TITLE
Head of Human Resources
TENURE
0.6 yrs

John McLaughlin

TITLE
Head of Property & Facilities Management
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the NewRiver REIT board of directors in years:

4.1
Average Tenure
59
Average Age
  • The tenure for the NewRiver REIT board of directors is about average.
Board of Directors

Margaret Ford

TITLE
Non-Executive Chairman
COMPENSATION
£32K
AGE
59
TENURE
0.6 yrs

Allan Lockhart

TITLE
Founder
COMPENSATION
£1M
AGE
52
TENURE
8.5 yrs

David A. Lockhart

TITLE
Executive Deputy Chairman
COMPENSATION
£1M
AGE
73
TENURE
1 yrs

Mark Davies

TITLE
CFO & Director
COMPENSATION
£1M
AGE
42
TENURE
8.5 yrs

Kay Chaldecott

TITLE
Independent Non-Executive Director
COMPENSATION
£55K
AGE
55
TENURE
7.2 yrs

Alastair Miller

TITLE
Senior Independent Non-Executive Director
COMPENSATION
£55K
AGE
59

Colin Rutherford

TITLE
Non-Executive Director
AGE
59
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
12. Dec 18 Sell Allan Lockhart Individual 07. Dec 18 10. Dec 18 -218,079 £2.20 £-473,555
12. Dec 18 Sell Mark Davies Individual 07. Dec 18 10. Dec 18 -59,835 £2.20 £-129,571
25. Jul 18 Buy Kay Chaldecott Individual 20. Jul 18 20. Jul 18 35,671 £2.79 £99,522
05. Jul 18 Buy David A. Lockhart Individual 04. Jul 18 04. Jul 18 17,600 £2.75 £48,400
X
Management checks
We assess NewRiver REIT's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. NewRiver REIT has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

NewRiver REIT plc (LON:NRR) Investors Should Think About This Before Buying It For Its Dividend

Is NewRiver REIT plc (LON:NRR) a good dividend stock? … Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. … In this case, NewRiver REIT likely looks attractive to dividend investors, given its 8.9% dividend yield and eight-year payment history.

Simply Wall St -

The NewRiver REIT (LON:NRR) Share Price Is Down 33% So Some Shareholders Are Getting Worried

We regret to report that long term NewRiver REIT plc (LON:NRR) shareholders have had that experience, with the share price dropping 33% in three years, versus a market return of about 30%. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … In comparison the 13% compound annual share price decline isn't as bad as the EPS drop-off.

Simply Wall St -

What You Need To Know Before Investing In NewRiver REIT plc (LON:NRR)

NewRiver REIT plc is a UK£657m. … real estate investment trust (REIT) based in London, United Kingdom. … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent

Simply Wall St -

A Look At NewRiver REIT plc's (LON:NRR) Exceptional Fundamentals

NewRiver REIT plc (LON:NRR) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … priced into the stock

Simply Wall St -

Have Insiders Been Buying NewRiver REIT plc (LON:NRR) Shares?

So before you buy or sell NewRiver REIT plc (LON:NRR), you may well want to know whether insiders have been buying or selling. … NewRiver REIT Insider Transactions Over The Last Year. … Overall, NewRiver REIT insiders were net buyers last year

Simply Wall St -

Investing In Property Through NewRiver REIT plc (LON:NRR)

real estate investment trust (REIT) based in London, United Kingdom. … REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities … These items can distort the bottom line and not necessarily reflective of NRR’s daily operations.

Simply Wall St -

What Is NewRiver REIT plc's (LON:NRR) Share Price Doing?

NewRiver REIT plc (LON:NRR), a reits company based in United Kingdom,. … A question to answer is whether NewRiver REIT's current trading price of £2.71 reflective of the actual value of the? … Let’s take a look at NewRiver REIT’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

NewRiver REIT plc (LON:NRR): What You Have To Know Before Buying For The Upcoming Dividend

On the 27 July 2018, NewRiver REIT plc (LON:NRR) will be paying shareholders an upcoming dividend amount of £0.054 per share. … Well, keep on reading because today, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … How I analyze a dividend stock.

Simply Wall St -

Is NewRiver REIT plc (LON:NRR) A Healthy REIT?

Check out our latest analysis for NewRiver REIT A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent. … I also look at NRR's interest coverage ratio, which demonstrates how many times its earnings can cover its yearly interest expense. … The ratio is typically calculated using EBIT, but for a REIT stock, it's better to use FFO divided by net interest.

Simply Wall St -

Best Growth Stock in May

QXT’s forecasted bottom line growth is an optimistic double-digit 15.73%, driven by the underlying double-digit sales growth of 24.26% over the next few years. … This prospective profitability should trickle down to shareholders, with analysts expecting the company to generate a high double-digit return on equity of 24.70%. … This prospective profitability should trickle down to shareholders, with analysts expecting the company to generate a high double-digit return on equity of 31.26%.

Simply Wall St -

Company Info

Description

NewRiver REIT plc (‘NewRiver’) is a leading Real Estate Investment Trust specializing in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK. Our £1.4 billion portfolio covers over 9 million sq ft and comprises 34 community shopping centres, 21 conveniently located retail parks and over 600 community pubs. Having hand-picked our assets since NewRiver was founded in 2009, we have deliberately focused on the fastest growing and most sustainable sub-sectors of the UK retail market, with grocery, convenience stores, value clothing, health & beauty and discounters forming the core of our retail portfolio. This focus, combined with our affordable rents and desirable locations, delivers sustainable and growing returns for our shareholders, while our active approach to asset management and inbuilt 1.8 million sq ft development pipeline provide further opportunities to extract value from our portfolio.

Details
Name: NewRiver REIT plc
NRR
Exchange: LSE
Founded: 2009
£700,284,073
301,197,451
Website: http://www.nrr.co.uk
Address: NewRiver REIT plc
Level 1 Prince Frederick House,
16 New Burlington Place,
London,
East Lothian, W1S 2HX,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE NRR Ordinary Shares London Stock Exchange GB GBP 01. Sep 2009
BATS-CHIXE NRRL Ordinary Shares BATS 'Chi-X Europe' GB GBP 01. Sep 2009
Number of employees
Current staff
Staff numbers
165
NewRiver REIT employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 22:55
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/01
Last earnings filing: 2018/11/21
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.