Urban Logistics REIT plc promoted to the FTSE 250 in the latest index review
Congratulations to our client, Urban Logistics REIT plc (SHED), on being promoted to the FTSE 250 in the latest index review.
FTSE Russell confirmed that the Company was added as a constituent of the FTSE 250 and FTSE All Share Indices, effective from the start of trading on Monday, 21 March 2022. Furthermore, the Company has also satisfied the required eligibility criteria and has been added to the FTSE EPRA/NAREIT Global Real Estate Index Series which was implemented from the start of trading on Monday, 21 March 2022.
Nigel Rich, Chairman of Urban Logistics REIT plc, commented:
“This marks a major milestone on our journey, which began in 2016 on AIM with a market capitalisation of £10 million. We continue to see compelling opportunities for further growth and today’s news will substantially increase the Company’s stockmarket profile and help diversify our investor base. I would like to thank our shareholders for their support in our journey thus far and we look forward to working together on this next chapter in the Urban Logistics story.”
Richard Moffitt, Chief Executive, added:
“More than five years on from our initial IPO the Urban Logistics investment proposition continues to present a compelling financial case.
Urban Logistics has grown to become a major player in last mile, last touch urban logistics, now with a portfolio of 111 strategically located assets in existing and emerging logistics hubs. Urban Logistics focuses on high quality tenant covenants where its buildings play a key role in the occupiers’ business infrastructure underpinning our strong rent collection, cash flow and dividend track record. Across the market tenant demand continues to outstrip supply in the market boding well for future capital and income growth.
Thanks go to the Urban Logistics Board and the investment management team for all of their efforts and to all of our stakeholders for their continued support and encouragement.
Looking to the future, our portfolio of well acquired assets, our acquisition pipeline, asset management initiatives underway and our financial flexibility, position us to continue to drive value for our shareholders.”
About Urban Logistics REIT plc
Listed on AIM in 2016, Urban Logistics is the only London listed REIT purely focussed on mid-sized warehouse assets in key urban last touch locations, with strong tenants who deliver critical goods and services the last mile to the end-user. With assets located primarily in the South East and Midlands, where key supply chain routes are located, tenants include Amazon, GXO, DHL, Hermes, DPD, Boots, Unipart (for NHS) and J Sainsbury Plc.
Led by a management team with specific logistics experience within the broader real estate market, Urban Logistics has pursued an income and total return strategy through active asset management, regularly raising funds to build its portfolio, often with highly attractive off-market acquisitions. As at the September 2021 interim results, the Company had delivered a 14.6% pa average total accounting return since IPO, with total dividends declared so far of 38p per share.
Urban Logistics is continuing to pursue an ambitious growth trajectory, underpinned by significant resilience due to the vital role which it plays in the security and efficacy of the UK’s supply chain, the importance of which has been brought sharply into focus by recent and current geopolitical events.
Buying well and pursuing additional value enhancing asset management initiatives has driven the Company’s growth, enabling Urban Logistics to grow from a £10m market cap company at IPO in April 2016 to over £800m at present.
Singer Capital Markets is acting as Sponsor, Joint Financial Adviser & Broker to Urban Logistics REIT plc and has helped to raise over £500 million for the Company since 2020.