Key facts

We buy undervalued portfolios, often with high levels of vacancy or other opportunities to add value. We apply an intensive programme of improvement using our local management teams and sell to realise the value added. We have created a high-yielding property portfolio that is managed from our 16 offices across Europe and the UK.

Company Website

Financial Calendar

Recent Broker notes

BarChart Indicators

Recent Market news

Hansteen Fundamentals (HSTN)

.

From yesterday :-

Final Results

HANSTEEN TOTAL ANNUAL RETURN OF 20.8%

Hansteen (LSE: HSTN), the investor in UK and continental European industrial property, announces its full year results for the year ended 31 December 2016.

Financial Highlights
· Total Annual Return to shareholders of 23.1p or 20.8% (EPRA NAV growth of 17.7p plus dividends paid of 5.35p)
· IFRS profit before tax of £119.9 million (FY 2015: £171.4 million)
· Normalised Income Profit increased by 29.4% to £61.1 million (FY 2015: £47.2 million)
· Normalised Total Profit increased by 4.4% to £66.0 million (FY 2015: £63.2 million)1
· IFRS NAV per share increased by 17.9% to 124.0p (31 December 2015: 105.2p)
· EPRA NAV per share increased by 15.9% to 128.9p (31 December 2015: 111.2p)1
· Full year dividend increased by 12.4% to 5.9p per share (2015: 5.25p per share)
· Net debt to property value ratio of 40.9% (31 December 2015: 41.2%)1

Operational Highlights
· Acquisition of remaining 18.2% units in the Ashtenne Industrial Fund Unit Trust for £49.7 million increasing ownership to 100%
· UK portfolio refinanced with a new £330.0 million five-year loan facility at an all-in cost of 2.3% per annum
· Netherlands portfolio refinanced with a new €145.0 million five-year loan facility at an all-in cost of 2.6% per annum
· Like-for-like occupancy improvement of 131,000 sq m or 28.2% of the vacancy at the start of the year
· Like-for-like rent roll improvement of £2.1 million per annum
· Like-for-like property valuation increase across the total portfolio of 2.8%
· £34.2 million of sales generating profits of £4.7 million

Post Balance Sheet Events
· Offer for the entire issued ordinary share capital of Industrial Multi Property Trust PLC ("IMPT")
· Contracts exchanged on terms for the sale of Hansteen's German and Dutch portfolios for €1.28 billion


Melvyn Egglenton, Chairman, commented: "I am pleased to report an exceptional year for Hansteen with our portfolio and our team once again delivering record results. While acquisition opportunities have been limited the team has focused on growing the portfolio occupancy and rent roll resulting in the highest ever number of new lettings and lease renewals, record like-for-like rent growth and the highest ever portfolio occupancy rate.

The significant spread between our portfolio yield and borrowing costs offers potential for further capital growth, particularly when the current yield is compared to the yield lows of previous cycles. This compares favourably to the other property sectors where yields have reached historic lows during 2015 or earlier. The UK portfolio also offers earnings upside through the letting of the remaining vacant area and emerging rental growth which will allow the business to continue to generate strong income returns in the future. Across the UK, we are experiencing pockets of rental growth and shorter incentives being offered to tenants as demand intensifies, particularly at estates where voids are zero or close to zero.

We also have 447 acres of undeveloped land in the UK which does not yet produce income but will in time produce further value. We will continue to focus on realised returns allowing us to pay a well-covered and growing dividend to our shareholders".

21 Mar JP Morgan Cazenove Underweight 122.30 110.00 110.00 Retains

21 Mar Jefferies International Hold 122.30 105.00 130.00 Reiterates

20 Mar Numis Add 122.30 - 135.00 Upgrades

20 Mar Peel Hunt Restricted 122.30 - - Reiterates

20 Mar Liberum Capital Buy 122.30 130.00 130.00 Retains

Publication of Circular and Notice of General Meeting

Further to the announcement on 20 March 2017, Hansteen announces that it has today published the Class 1 circular and Notice of General Meeting in respect of the proposed disposal of its German and Dutch Portfolio to entities owned by funds advised by affiliates of the Blackstone Group L.P., and M7 Real Estate (the "Circular").

The General Meeting to approve the Transaction will be held at offices of Jones Day, 21 Tudor Street, London EC4Y 0DJ, on 21 April 2017 at 11:00 am. Completion of the Transaction is expected to occur before the end of June 2017.

A copy of the Circular can be viewed on the Company's website at www.hansteen.co.uk and has been forwarded to the FCA for publication through the Document Viewing Facility and will be accessible via the National Storage Mechanism website at http://www.morningstar.co.uk/uk/NSM.

Capitalised terms in this announcement shall have the meaning given to them in the Circular.

Cash Offer for IMPT Unconditional

prospects of a large divi payout , may come , not yet announced still holding.
large holding bought, sept, follow the money. motley fool buy , may be a 200 target
growth, continuous solid see chart.

The Board proposes to return up to GBP580 million in aggregate to Shareholders which is the equivalent of 70p per share.

The Board's intention is to ensure that the GBP580 million is treated as a capital return and not an income return