NewRiver REIT
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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
1 Year Returns
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.
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for NewRiver REIT.
| 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.
| 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.
| 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 | ||
| 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 |
| 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 |
| 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
Current Discount Checks
- 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?
| 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.
| 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?
| 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 .
| 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?
| 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 |
| 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.
Value checks
We assess NewRiver REIT's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) 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
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!
Earnings growth vs Low Risk Savings
- 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
| 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
| 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 |
| 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 |
| 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.
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.
| 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 |
| 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.
Future performance checks
We assess NewRiver REIT's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- 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)
- 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)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from NewRiver REIT Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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).
Past performance checks
We assess NewRiver REIT's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- 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.
All data from NewRiver REIT Company Filings, last reported 7 months ago.
| 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).
Financial health checks
We assess NewRiver REIT's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) NewRiver REIT has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
If you bought
£2,000 of
NewRiver REIT
shares you are expected to receive
£186
in your first year as a dividend.
Dividend Amount
- 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.
| 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.
| 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 |
| 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.
Income/ dividend checks
We assess NewRiver REIT's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| 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:
- The average tenure for the NewRiver REIT management team is less than 2 years, this suggests a new team.
Management Team
Allan Lockhart
Founder
£1M
52
1 yrs
David A. Lockhart
Executive Deputy Chairman
£1M
73
1 yrs
Mark Davies
CFO & Director
£1M
42
8.6 yrs
Annabelle Cooper
Group Accountant
0.3 yrs
Patrick Colgan
Director of Corporate Finance
2 yrs
Will Hobman
Head of Investor Relations & Strategy
David Shipton
Corporate Development & Strategy Director
0.3 yrs
Lucy Mitchell
Director of Marketing
Edith Monfries
Head of Human Resources
0.6 yrs
John McLaughlin
Head of Property & Facilities Management
0.3 yrs
Board of Directors Tenure
Average tenure and age of the NewRiver REIT board of directors in years:
- The tenure for the NewRiver REIT board of directors is about average.
Board of Directors
Margaret Ford
Non-Executive Chairman
£32K
59
0.6 yrs
Allan Lockhart
Founder
£1M
52
8.5 yrs
David A. Lockhart
Executive Deputy Chairman
£1M
73
1 yrs
Mark Davies
CFO & Director
£1M
42
8.5 yrs
Kay Chaldecott
Independent Non-Executive Director
£55K
55
7.2 yrs
Alastair Miller
Senior Independent Non-Executive Director
£55K
59
Colin Rutherford
Non-Executive Director
59
0.3 yrs
Who owns this company?
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 | ||
Management checks
We assess NewRiver REIT's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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 - – Full articleThe 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 - – Full articleWhat 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 - – Full articleA 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 - – Full articleHave 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 - – Full articleInvesting 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 - – Full articleWhat 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 - – Full articleNewRiver 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 - – Full articleIs 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 - – Full articleBest 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 - – Full articleCompany 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
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.
