Carpe Diem
​Raven Russia Limited is a Guernsey registered property investment company specialising in commercial real estate in Russia, concentrated on the acquisition and development of high quality class A warehouse complexes in the country's major cities and their leasing to Russian and international tenants.
The group is using its financial muscle to seize the opportunity to acquire prime assets in St Petersburg on a yield of 16%. We have referred repeatedly to the group’s defensive qualities in what has been a difficult market and also to its capacity to deal with advantage in such a market.
Raven Russia is buying three properties (one completed warehouse and two office buildings) in St Petersburg. The assets are being acquired at a cost of 4.9 billion roubles (US dollar equivalent $82m). They are 98% let, the bulk of which is in roubles rather than US$, at today’s market rents, so the ‘transition effect’ does not apply.
On our preliminary estimates, the acquisition targets will add a minimum of $10m pa to the bottom line (in comparison with the latest published figures), without any dilution to equity. We expect to have the basis to upgrade our forecasts when results are released in March, but in the meantime we maintain our share valuations previously published (Ordinaries 50p, Preference 160p)
Raven Property Group is a property investment group focusing on commercial real estate in Russia. Co. has three operating segments: Property Investment, which acquires, develops and leases commercial property in Russia; Roslogistics, which is engaged in the provision of warehousing, transport, customs brokerage and related services in Russia; and Raven Mount, which sells residential property in the U.K.
Equity Development enables companies to become better understood and supported by investors. Since our launch in 1996 we have consistently focused on helping our clients improve their communication and relationships with both existing and potential shareholders. Our clients have come from a wide variety of sectors and domiciles, are both private and quoted and range in size from micro-cap to $multi-billions. We offer free access to company research notes written by experienced analysts. These notes include detailed forecasts, financial models and a fair value. We host regular Private Investor Forums at which investors have the opportunity to hear company directors present, and to ask questions. These are free to attend. We broadcast live Webinars with company management that include active Q&A. We also make the recordings available online. We arrange face to face meetings between private investors and company management. We are active users of Twitter, commenting daily on company news, share price moves, Directors’ Dealings, Equity Development Research Notes & Events.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.