| Edison Investment Research Limited Edison Investment Research Limited: Edison issues outlook on Raven Property Group (RAV) 03-Sep-2018 / 09:59 GMT/BST London, UK, 3 September 2018 Edison issues outlook on Raven Property Group (RAV) Raven Property Group (Raven) made good underlying progress in H118 against the backdrop of a modestly growing Russian economy and improving supply-demand conditions in the warehouse sector. Occupancy and operating income were up, although headline results are affected by unrealised FX movements. Not reflected in our forecasts, further acquisitions are likely, funded by a strong cash position (almost $200m), with the potential to more than offset rent reversion to market levels and return the company to growth. Raven investors have three share classes (in addition to warrants) from which to choose, each offering significant yields. The 2018e ordinary share yield is 6% and shareholders benefit fully from any NAV growth or narrowing of the 28% discount to FY18e NAV/share. The pref. shares (RAVP) yield 8.3% and convertible pref. shares (RAVC) shares have a cash yield of 5.5% plus a premium at redemption. Click here to view the full report. All reports published by Edison are available to download free of charge from its website www.edisoninvestmentresearch.com About 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. Edison is authorised and regulated by the Financial Conduct Authority. Edison 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. For more information please contact Edison: Martyn King, +44 (0)20 3077 5745 Andrew Mitchell, +44 (0)20 3681 2500 financials@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn https://www.linkedin.com/company/edison-investment-research Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
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