Regional REIT (RGL)

Business description

Regional REIT owns a commercial property portfolio, predominantly offices and industrial units located in the regional centres of the UK. It is actively managed and targets a total shareholder return of 10-15% pa with a strong focus on income.

Stock data

Market cap.£306.6m
Last close102.00p
High / Low (52 weeks)108.2p / 100.0p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamProperty
SectorProperty

Price performance

%1m3m12m
Actual(1.9)1.0(4.6)
Relative *(2.9)(0.7)(12.3)

* % Relative to local index

Other companies in sector Show

Company news

Regional REIT Agrees New GBP52.4 Million Facility With Santander

Thu, 23 Nov 2017 11:17:12 GMT

Regional REIT Declares 1.80p Dividend For Second Quarter Of 2017

Thu, 31 Aug 2017 10:49:59 GMT

Regional REIT To Raise Up To GBP100 Million For Portfolio Buys (ALLISS)

Mon, 04 Dec 2017 17:26:15 GMT

Regional REIT Ltd (RGL) Earns “Buy” Rating from Peel Hunt

Sat, 18 Nov 2017 17:41:15 GMT

Property investor secures £165m debt facility

Wed, 13 Dec 2017 08:15:00 GMT

Investment summary

We have previously commented on the fact that regional commercial property markets, especially for industrial and office properties, have remained firm despite Brexit uncertainties. Steady occupier demand, combined with a general tightness of supply, is supporting rental growth in many areas. Against this background, Regional REIT (RGL) continues to see a wide range of acquisition and asset enhancement opportunities, which meet its investment criteria, giving rise to a strong pipeline of capital deployment opportunities. RGL has conditionally agreed the acquisition of two portfolios and is seeking to raise up to £100m gross from the issue of new shares.

Last updated on 06/12/2017

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 4.6 3.3 2.4 0.9 113.3 N/A
2016A 38.1 30.2 20.8 7.8 13.1 N/A
2017E N/A N/A N/A N/A N/A N/A
2018E N/A N/A N/A N/A N/A N/A

Last updated on 06/12/2017

Latest video

Executive interview - Regional REIT

Industry outlook

Regional occupier demand is generally firm, driven by continuing economic growth and business relocation away from London, while new supply remains limited. Meanwhile, the yield spread between the regions and London remains historically wide at c 2%, compared with a 2008 market peak of c 0.5%, representing a clear potential for narrowing.

Last updated on 02/11/2017

Key management

Kevin McGrath, Chairman
Adam Dickinson, Head of IR
Tim Bee, Non Executive Director
William D. Eason, Non Executive Director
Stephen Inglis, Non Executive Director
Daniel Taylor, Non Executive Director

Company address

Toscafund Asset Management LLP 7th Floor
90 Long Acre
London
WC2E9RA
United Kingdom
+44 (0) 207 845 6100
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