TR Property Inv Trust (TRY)

Down
Share Price:
311.00p
Market Cap:
£986.96m
Change Today:
-1.00p
Sector:
Investment Firms

TR Property benefits from weak pound post Brexit vote

By Bianca Boorer

Date: Thursday 24 Nov 2016

LONDON (ShareCast) - (ShareCast News) - TR property, an investment trust focused on the property sector, has been boosted by the drop in the pound since Britain decided to leave the European Union.
The FTSE 250 company's net asset value (NAV) per share rose 9% to 365.78p in the first half ended 30 September 2016, while shareholders' funds rose 9% to £1.2m.

Net debt rose slightly to 12.2% from 11.9% and gearing was 12.2% close to the level at year end in March at 11.9%.

Revenue earnings per share rose 29.6% to 7.14p. Earnings per share are almost 30% ahead of the prior year at this interim stage at 7.14p.

Net interim dividend per share rose 30.2% to 4.10p. Interim dividend was 4.10p up from 3.15p.

Chairman Hugh Seaborn said: "The first six months of this financial year was, as expected, dominated by the UK referendum. One of the initial consequences of the outcome was the weakening of Sterling and the asset value of your company was a significant beneficiary given the appreciation of our European assets when measured in Sterling. The Trust's asset value rose 10.7%, ahead of the benchmark which recorded 9.7%."

He pointed out that while UK property shares fell 3.8% over the period, the trust's UK physical portfolio held up "relatively well" falling just 1.5% in value, which reflected the fact that one third of the physical portfolio's income is the new 20-year lease to Waitrose subject to 3% per annum rent uplifts.

Looking towards full year results, the board expect the figures to be "comfortably ahead of the prior year, although with so much political uncertainty globally having an impact on all markets, changes in the portfolio composition as a result of further developments may alter the income position to some extent".

The share price fell 0.32% to 283.60p at 0914 GMT on Thursday.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

TRY Market Data

Currency UK Pounds
Price 311.00p
Change Today -1.00p
52 Week High 355.00p
52 Week Low 295.00p
Volume 1,200,386
Shares Issued 317.35m
Market Cap £986.96m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Trend
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Income
market
  1. full market star
  2. full market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Growth
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
P/E
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
PEG
market
  1. half market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Dividend Yield
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
EPS Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Operating Margin
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star