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Edison issues update on Regional REIT (RGL)
Edison issues update on Regional REIT (RGL).
About this update from Regional Reit Ltd.
[{"type":"text","content":"\n \nEdison Investment Research LimitedEdison Investment Research Limited: Edison issues update on Regional REIT (RGL)16-Jan-2018 / 09:44 GMT/BST\nLondon, UK, 16 January 2018\n\nEdison issues update on Regional REIT (RGL)\n\nRGL's acquisition of two property portfolios, first announced in early December, for an aggregate consideration of £93.4m including costs, completed just before Christmas. This followed the closing of a capital issue that raised £73m (gross) in new equity at 101p per share. The group has also completed a major refinancing programme, simplifying the debt structure and extending maturity, at no additional cost. We reinstate our estimates, including the acquisitions, which add immediately to earnings, and the capital increase. We also take a slightly more cautious approach to 2018 and have trimmed our previously above consensus position.\n\nRGL's prospective dividend yield of 7.8% is the highest of all UK REITs, while its price/EPRA NAV sits within the middle of the range despite a strong focus on asset management and the potential for capital gains. The geographic spread of its non-London portfolio, its sector and tenant diversity, and high asset yield all mitigate macroeconomic risks.Click here to view the full report.\n\nAll reports published by Edison are available to download free of charge from its websitewww.edisoninvestmentresearch.com\n\nAbout Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.\n\nEdison is authorised and regulated by the Financial Conduct Authority.\n\nEdison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.\n\nFor more information please contact Edison:\n\nMartyn King, +44 (0)20 3077 5745Andrew Mitchell, +44 (0)20 3681 [email protected]\n\nLearn more at www.edisongroup.com and connect with Edison on:LinkedInhttps://www.linkedin.com/company/edison-i...