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NewRiver REIT

BATS-CHIXE:NRRL
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NRRL
BATS-CHIXE
£190M
Market Cap
  1. Home
  2. GB
  3. Real Estate
Company description

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK. The last earnings update was 140 days ago. More info.


Add to Portfolio Compare Print
  • NewRiver REIT has significant price volatility in the past 3 months.
NRRL Share Price and Events
7 Day Returns
9.5%
BATS-CHIXE:NRRL
7.3%
GB REITs
5.3%
GB Market
1 Year Returns
-74.4%
BATS-CHIXE:NRRL
-16.7%
GB REITs
-21.5%
GB Market
NRRL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NewRiver REIT (NRRL) 9.5% -57.9% -68.4% -74.4% -82.2% -
GB REITs 7.3% -12.4% -23.2% -16.7% -16.8% -21.5%
GB Market 5.3% -6.5% -25.2% -21.5% -22.4% -21.9%
1 Year Return vs Industry and Market
  • NRRL underperformed the REITs industry which returned -16.7% over the past year.
  • NRRL underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -21.5% over the past year.
Price Volatility
NRRL
Industry
5yr Volatility vs Market

NRRL 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.

BATS-CHIXE:NRRL 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 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.4%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

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 BATS-CHIXE:NRRL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.1%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.52
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.521 (1 + (1- 19%) (305.74%))
0.768
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (0.8 * 6.07%)
5.39%

Discounted Cash Flow Calculation for BATS-CHIXE:NRRL using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

BATS-CHIXE:NRRL Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:NRRL represents 0.89595x of LSE:NRR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89595x
Value per Share
(Listing Adjusted, GBP)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 2.83 x 0.89595
£2.54
Value per share (GBP) From above. £2.54
Current discount Discount to share price of £0.62
= -1 x (£0.62 - £2.54) / £2.54
75.6%

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
>50%
Share price is £0.62 vs Future cash flow value of £2.54
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, and 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
BATS-CHIXE:NRRL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in GBP £-0.20
LSE:NRR Share Price ** LSE (2020-04-08) in GBP £0.69
United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 13.28x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 747 Publicly-Listed Companies 13.27x

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

** Primary Listing of NewRiver REIT.

BATS-CHIXE:NRRL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 0.69 ÷ -0.20

-3.46x

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

  • NewRiver REIT is loss making, we can't compare its value to the GB REITs industry average.
  • NewRiver REIT is loss making, we can't compare the value of its earnings 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
BATS-CHIXE:NRRL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.46x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
54.5%per year
United Kingdom of Great Britain and Northern Ireland REITs Industry PEG Ratio Median Figure of 22 Publicly-Listed REITs Companies 0.71x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 513 Publicly-Listed Companies 1.03x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for NewRiver REIT, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on NewRiver REIT's assets?
Raw Data
BATS-CHIXE:NRRL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in GBP £2.44
LSE:NRR Share Price * LSE (2020-04-08) in GBP £0.69
United Kingdom of Great Britain and Northern Ireland REITs Industry PB Ratio Median Figure of 54 Publicly-Listed REITs Companies 0.8x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,322 Publicly-Listed Companies 1.13x
BATS-CHIXE:NRRL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.69 ÷ 2.44

0.28x

* 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.

NRRL Future Performance

 How is NewRiver REIT expected to perform in the next 1 to 3 years based on estimates from 4 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
54.5%
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 0.5%.
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 revenues are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:NRRL Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:NRRL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 54.5%
BATS-CHIXE:NRRL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts -0.2%
United Kingdom of Great Britain and Northern Ireland REITs Industry Earnings Growth Rate Market Cap Weighted Average 26.6%
United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.4%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*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
BATS-CHIXE:NRRL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:NRRL Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 125 46 8 4
2021-03-31 124 46 -67 4
2020-04-09
2020-03-31 124 50 -113 4
BATS-CHIXE:NRRL Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-09-30 128 42 -61
2019-06-30 127 39 -49
2019-03-31 126 36 -37
2018-12-31 130 39 -9
2018-09-30 125 43 19
2018-06-30 117 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

*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 decrease over the next 1-3 years, this is not considered high growth.
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
BATS-CHIXE:NRRL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from NewRiver REIT Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:NRRL Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 -0.07 -0.07 -0.07 1.00
2021-03-31 -0.52 -0.52 -0.52 1.00
2020-04-09
2020-03-31 0.04 0.04 0.04 1.00
BATS-CHIXE:NRRL Past Financials Data
Date (Data in GBP Millions) EPS *
2019-09-30 -0.20
2019-06-30 -0.16
2019-03-31 -0.12
2018-12-31 -0.03
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

*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 3/6, 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.

NRRL 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 does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare NewRiver REIT's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare NewRiver REIT's 1-year growth to the GB REITs industry average as it is not currently profitable.
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 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:NRRL Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 128.40 -60.90 20.30
2019-06-30 127.10 -48.90 19.35
2019-03-31 125.80 -36.90 18.40
2018-12-31 130.00 -8.90 18.58
2018-09-30 125.24 19.14 18.82
2018-06-30 116.82 32.42 18.01
2018-03-31 108.40 45.70 17.20
2017-12-31 109.52 52.33 16.51
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

*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.
  • It is difficult to establish if NewRiver REIT has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if NewRiver REIT has efficiently used its assets last year compared to the GB REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if NewRiver REIT improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
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 0/6, 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.

NRRL 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's short term (1 year) commitments are greater than 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 6 months ago.

BATS-CHIXE:NRRL Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 745.40 495.50 23.90
2019-06-30 745.40 495.50 23.90
2019-03-31 796.10 503.30 27.10
2018-12-31 796.10 503.30 27.10
2018-09-30 864.27 513.12 30.38
2018-06-30 864.27 513.12 30.38
2018-03-31 892.40 457.10 115.90
2017-12-31 892.40 457.10 115.90
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
  • NewRiver REIT's level of debt (66.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (54.3% vs 66.5% today).
  • Debt is not well covered by operating cash flow (8.5%, less than 20% of total debt).
  • NewRiver REIT is making a loss, therefore interest payments are not well covered by earnings.
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 0/6, 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.

NRRL 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
0%
Current annual income from NewRiver REIT dividends. Estimated to be 27.47% next year.
If you bought £2,000 of NewRiver REIT shares you are expected to receive £0 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?
  • Unable to evaluate NewRiver REIT's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate NewRiver REIT's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
BATS-CHIXE:NRRL 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 4 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 48 Stocks 5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 575 Stocks 5.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.5%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 6.8%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:NRRL Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 0.17 3.00
2021-03-31 0.22 2.00
2020-04-09
2020-03-31 0.18 4.00
BATS-CHIXE:NRRL Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2020-03-19 0.000 0.000
2019-11-21 0.216 12.350
2019-04-09 0.216 11.356
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 >

  • Unable to perform a dividend volatility check as NewRiver REIT has not reported any payouts.
  • Unable to verify if NewRiver REIT's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of NewRiver REIT's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as NewRiver REIT has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (237x 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 1.3%) - 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 1/6, see the detailed checks below.


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

NRRL 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 £911,972
AGE 53
TENURE AS CEO 1.9 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. Mr. Lockhart 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, both up more than 20%.
  • 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:

1.9
Average Tenure
53
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
£912K
AGE
53
TENURE
1.9 yrs

David A. Lockhart

TITLE
Executive Deputy Chairman
COMPENSATION
£472K
AGE
75
TENURE
1.9 yrs

Mark Davies

TITLE
CFO & Director
COMPENSATION
£798K
AGE
43
TENURE
9.5 yrs

Annabelle Cooper

TITLE
Group Accountant
TENURE
1.3 yrs

Patrick Colgan

TITLE
Director of Corporate Finance
TENURE
2.9 yrs

Tom Loughran

TITLE
Head of Investor Relations
TENURE
0.5 yrs

Lucy Mitchell

TITLE
Director of Corporate Communications & PR
TENURE
0.9 yrs

Edith Monfries

TITLE
COO of Hawthorn Leisure & Head of Human Resources
TENURE
1.5 yrs

Richard Melville

TITLE
Head of Information Technology

Fabienne Morgan

TITLE
Head of Commercial Design
TENURE
2.2 yrs
Board of Directors Tenure

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

5
Average Tenure
60
Average Age
  • The tenure for the NewRiver REIT board of directors is about average.
Board of Directors

Margaret Ford

TITLE
Non-Executive Chairman
COMPENSATION
£109K
AGE
60
TENURE
1.5 yrs

Allan Lockhart

TITLE
Founder
COMPENSATION
£912K
AGE
53
TENURE
9.4 yrs

David A. Lockhart

TITLE
Executive Deputy Chairman
COMPENSATION
£472K
AGE
75
TENURE
1.9 yrs

Mark Davies

TITLE
CFO & Director
COMPENSATION
£798K
AGE
43
TENURE
9.4 yrs

Kay Chaldecott

TITLE
Independent Non-Executive Director
COMPENSATION
£58K
AGE
56
TENURE
8.1 yrs

Alastair Miller

TITLE
Senior Independent Non-Executive Director
COMPENSATION
£61K
AGE
60

Colin Rutherford

TITLE
Independent Non-Executive Director
COMPENSATION
£8K
AGE
60
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • NewRiver REIT individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
28. Jan 20 Sell Allan Lockhart Individual 27. Jan 20 27. Jan 20 -148,750 £1.90 £-282,625
14. Aug 19 Sell Allan Lockhart Individual 13. Aug 19 13. Aug 19 -75,000 £1.60 £-120,300
17. Jun 19 Buy David A. Lockhart Individual 14. Jun 19 14. Jun 19 5,646 £1.90 £10,750
05. Jun 19 Buy Margaret Ford Individual 04. Jun 19 04. Jun 19 25,640 £1.95 £49,998
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.

NRRL News

Simply Wall St News

NRRL Company Info

Description

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK. Our £1.3 billion portfolio covers 9 million sq ft and comprises 33 community shopping centres, 24 conveniently located retail parks and over 650 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 2.3 million sq ft development pipeline provide further opportunities to extract value from our portfolio. NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR) and is a constituent of the FTSE 250 and EPRA indices.

Details
Name: NewRiver REIT plc
NRRL
Exchange: BATS-CHIXE
Founded: 2009
£190,424,325
306,148,433
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
OTCPK NRWR.F Ordinary Shares Pink Sheets LLC US USD 01. Sep 2009
BATS-CHIXE NRRL Ordinary Shares BATS 'Chi-X Europe' GB GBP 01. Sep 2009
Number of employees
Current staff
Staff numbers
184
NewRiver REIT employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 20:24
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/09
Last earnings filing: 2019/11/21
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


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.