Half-year earnings at industrial REIT Hansteen tipped to rise

You could guess that it is still the summer holidays here in London…

Hansteen Holdings plc - Half-year earnings at industrial REIT Hansteen tipped to rise
Thursday looks busier, though

Wednesday looks like being another quiet one in the Square Mile, with only a handful of companies known to be releasing news, while there is also some relatively small-time data due.

One of the few set to report is industrial REIT, Hansteen Holdings plc (LON:HSTN), which is due to post its half-year numbers.

The shares have been weak recently, down 10% or so over the past month and trading at a 17% discount to net asset value. Peel Hunt said this makes Hansteen “the best value way” to play the UK industrial property market.

“This will be the first period since the 35p special dividend last year and whilst we expect both EPS (FY19: 5.1p) and DPS (FY19: 4.8p) to be progressive, this will be after an adjustment for the c26% return of capital,” added the analysts.

The company, which buys and manages business parks and industrial estates, has been one of the beneficiaries of the shift to online as it has pushed up demand for big warehouses.

Hansteen had been selling off some of its assets before the next property cycle, but it recently said it would focus on managing its residual holdings for income and value growth.

Significant events expected on Wednesday August 21:

Interims: Charter Court PLC (LON:CCFS), Costain PLC (LON:COST), Empresaria Group plc (LON:EMR), Hansteen Holdings PLC (LON:HSTN)

Economic data: UK public sector net borrowing, US existing home sales, MBA US mortgage applications, US crude oil inventories

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