Initiation research from QuotedData

RNS Number : 2127I

Urban Logistics REIT PLC

10 August 2021

 

Urban Logistics REIT- Initiation research from QuotedData

10^th August 2021

Shed load of growth to come

Urban Logistics REIT (SHED) is pressing ahead with its ambitious growth strategy, having raised £108.3m in a placing of shares in July 2021. This is the third successful capital raise it has made during the pandemic (totalling £336.7m), highlighting the strength and resilience of its investment proposition. SHED is the only listed company focused solely on the urban logistics sub-sector, which is benefitting from a surge in demand for space from e-commerce operators, as online retailing rates accelerate and are faced with a chronic lack of supply of property.

SHED's manager, led by Richard Moffitt, has an active asset management approach whereby it can impact the portfolio's value through lease re-gears (beneficial renegotiations of leases for existing tenants) and new lettings, meaning it is less reliant on market conditions. The majority of SHED's assets are acquired off-market (sourced through contacts rather than through formal bidding processes), which is testament to the manager's reputation and skillset - especially with the logistics investment market being so hot right now.

The company has reached a size that justifies a move from the AIM market to a premium listing on the main market of the London Stock Exchange, which should happen in the near future and increase liquidity in its shares.

Full research:

https://quoteddata.com/research/urban-logistics-reit-shed-load-growth-qd/

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NB: Marten & Co was paid to produce this note on Urban Logistics REIT Plc and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the FCA. Marten & Co is not permitted to provide investment advice to individual investors.

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