Investment Trusts

Custodian Property Income REIT plc

CREI:LSE

Custodian Property Income REIT plc

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  • Price (GBX)93.50
  • Today's Change0.600 / 0.65%
  • Shares traded215.19k
  • 1 Year change-11.79%
  • Beta0.3245
Data delayed at least 20 minutes, as of Jan 27 2023 16:35 GMT.
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About the company

Custodian Property Income REIT plc, formerly Custodian REIT Plc, is a United Kingdom-based real estate investment trust. The Company invests in a diverse portfolio of United Kingdom commercial real estate, principally characterized by individual property values of less than £15 m at acquisition. It offers investors the opportunity to access a diversified portfolio of United Kingdom commercial real estate through a closed-ended fund. Its portfolio consists of properties let to institutional grade tenants on long leases throughout the United Kingdom. Its portfolio includes industrial, office, retail warehouse, retail and others. Its portfolio includes car showrooms, petrol filing stations, children’s day nurseries, restaurants, health and fitness units, hotels and healthcare centers. It has a diversified portfolio of over 164 properties, including 62 industrial properties, 40 retail warehouse properties, 26 office properties, 18 high street retail properties and 18 other properties.

  • Revenue in GBP (TTM)42.04m
  • Net income in GBP60.17m
  • Incorporated2014
  • Employees0.00
  • Location
    Custodian Property Income REIT plc1 New Walk PlaceLEICESTER LE1 6RUUnited KingdomGBR
  • Phone+44 116 240 8740
  • Fax+44 116 240 8749
  • Websitehttps://www.custodianreit.com/
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Profile

Management group(s)Custodian Capital Ltd
AIC sectorProperty - UK Commercial
ISINGB00BJFLFT45
Launch date26 Mar 2014
Share typeOrdinary Share
StructureInvestment Trust
Base currencyGBP

Objective

To provide shareholders with an attractive level of income together with the potential for capital growth from investing in a diversified portfolio of commercial real estate properties in the UK. To have balanced investment portfolio with a relatively high exposure to industrial and to alternative sectors and low exposure to office and high street retail and low levels of net debt with target net gearing of 25% LTV.

Managed by

Richard Shepherd-Cross, Alex Nix

Management & contract fees

A management fee of 0.9% on the first GBP 200m of NAV; 0.75% of NAV in excess of GBP 200m but below GBP 500m;; 0.65% of the NAV in excess of GBP 500m; 0.55% of the NAV in excess of GBP 750m. The agreement is for an initial term of 3 years, terminable by giving 12 months notice.

Mergers & acquisitions

Acquired companyDeal statusDateDate /
Deal status
CREI:LSE since
announced
Transaction
value
Undisclosed Distribution FacilityDeal completed13 Sep 202213 Sep 2022Deal completed-8.15%12.99m
Undisclosed Long Lease Industrial AssetAnnounced26 Jul 202226 Jul 2022Announced-13.10%--
DFS Furniture Company PLC-Retail Warehouse(2)Deal completed20 Jul 202220 Jul 2022Deal completed-11.96%10.68m
Undisclosed Restaurants(2)Deal completed11 Jul 202211 Jul 2022Deal completed-6.41%3.08m
Undisclosed Retail Park PropertyDeal completed23 Jun 202223 Jun 2022Deal completed-9.22%--
Data delayed at least 20 minutes, as of Jan 27 2023 16:35 GMT.

Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
abrdn Property Income Trust Ltd110.61m99.09m265.33m0.002.790.6286--2.400.24980.24980.27891.110.2122--12.00--19.016.5622.076.7297.3392.4589.5973.98--29.290.212254.963,383.8030.14643.2343.28---10.56
LSL Property Services plc321.25m45.25m272.43m4.08k6.041.304.450.84810.43340.43343.092.011.06--8.2178,813.7914.9510.0620.2713.88----14.079.25--9.110.108627.1922.531.21279.404.172.622.05
Newriver Reit PLC73.20m27.70m281.88m49.0010.100.69039.823.850.08990.08890.23681.320.0895--16.831,493,878.003.39-3.593.55-3.7665.9866.3637.84-42.25--4.160.4767--0.8208-5.17105.73-28.01-4.24-17.92
Home Reit PLC26.20m47.80m300.81m0.002.970.3423--11.480.12810.12810.07571.110.0419--6.87--7.64--7.73--87.29--182.46------0.2826--------------
Regional REIT Ltd59.40m39.00m305.83m0.007.720.5957--5.150.07680.07680.11840.99540.0634--1.89--4.162.864.423.0491.1590.6165.6544.91--5.030.4668106.954.787.92192.7716.47---3.74
Civitas Social Housing PLC53.72m69.54m329.27m0.004.780.4854--6.130.11350.11350.08761.120.0513--4.81--6.64--6.71--97.13--129.46------0.3361--5.34--24.06------
Harworth Group PLC153.60m116.67m387.67m85.003.360.5913.322.520.3570.3570.46962.030.18430.53882.541,807,012.0014.007.7715.448.6637.8632.1675.9657.691.25--0.13997.1056.9726.67264.3618.695.069.99
Custodian Property Income Reit PLC42.04m60.17m412.20m0.006.780.8226.859.810.1380.1380.09581.140.0644--7.47--9.226.519.476.7186.8891.02143.1494.42----0.260565.640.79087.643,162.8738.27---3.73
Picton Property Income Ltd48.99m82.65m439.73m9.005.320.6885.318.980.15090.15090.08961.170.0593--1.945,443,111.0010.008.2310.258.4873.2977.26168.71128.60----0.262130.167.41-3.07334.8628.02----
Helical PLC42.35m83.93m441.61m28.005.330.63755.2110.430.67150.67150.34045.620.04231.681.281,512,321.008.384.028.664.3095.7250.10198.2169.102.66--0.267327.8743.98-15.58397.2517.84-31.235.33
Mountview Estates plc72.49m30.32m460.08m29.0015.181.1515.156.357.787.7818.59102.200.16840.070648.622,499,690.007.046.887.127.0060.9663.0741.8243.320.7894,162.560.067263.680.426-3.34-12.98-5.79--9.63
PRS Reit PLC41.96m115.89m488.28m0.004.140.7639--11.640.21480.21480.07841.160.0444--41.78--12.26--14.23--81.81--276.17------0.3516--57.54--162.71------
Target Healthcare REIT Ltd63.86m49.10m516.04m0.0010.220.7385--8.080.08140.08140.10661.130.0759--68.63--5.846.096.006.2358.2499.8876.8882.49--47.680.248881.6627.7722.0711.8820.75--4.92
Empiric Student Property PLC65.67m92.47m529.74m295.005.730.74525.698.070.15320.15320.10881.180.0602--10.79222,623.708.472.408.782.5965.3761.62140.8140.12----0.362490.45-5.85--221.81------
Balanced Commercial Property Trust Ltd52.86m189.24m586.50m0.003.330.5627--11.100.25120.25120.06991.490.0388--5.32--13.892.5714.112.6176.0082.29358.0056.61----0.224296.04-14.45-2.88285.2025.48---10.32
CLS Holdings plc140.40m128.00m597.24m112.004.670.44514.634.250.31420.31420.34463.290.0553--6.651,253,571.005.045.475.525.9777.28--91.1795.60----0.438223.280.28695.4754.394.09-40.9514.00
Data as of Jan 27 2023. Currency figures normalised to Custodian Property Income REIT plc's reporting currency: UK Pound GBX

Institutional shareholders

17.38%Per cent of shares held by top holders
HolderShares% Held
BlackRock Advisors (UK) Ltd.as of 16 Jun 202223.41m5.31%
Columbia Threadneedle Asset Managers Ltd.as of 24 Nov 201414.63m3.32%
Legal & General Investment Management Ltd.as of 29 Oct 20219.62m2.18%
State Street Global Advisors Ltd.as of 03 Nov 20216.83m1.55%
BlackRock Fund Advisorsas of 02 Oct 20225.71m1.30%
Hargreaves Lansdown Stockbrokers Ltd.as of 02 Oct 20224.88m1.11%
SSgA Funds Management, Inc.as of 02 Oct 20223.27m0.74%
Mattioli Woods Plc (Investment Management)as of 30 Dec 20223.05m0.69%
BlackRock Investment Management (UK) Ltd.as of 02 Oct 20222.98m0.68%
The Vanguard Group, Inc.as of 02 Oct 20222.24m0.51%
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Data from 30 Sep 2022 - 26 Jan 2023Source: FactSet Research Systems Inc.
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