Latest news with #AndrewCoombs
IOL News
6 days ago
- Business
- IOL News
Sirius Real Estate expands portfolio with €23. 4 million acquisition in Germany and £16. 13m in the UK
Sirius' CEO, Andrew Coombs says that so far in 2025, Sirius has notarised to acquire or acquired about €165m of income-producing business and light industrial park assets in the UK and Germany. Image: Supplied Sirius Real Estate said Wednesday it had acquired business parks in Dresden, Germany for €23.4 million (R484.4m) and Bedford, UK for £16.13m (R385.1m). Sirius, the London and JE-listed owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the UK, said in a statement that both transactions were identified and purchased off market. "Following last year's successful equity raise and bond issuances, along with our recently secured €150m revolving credit facility, we are strongly capitalised to continue executing accretive acquisitions across the UK and Germany, with these latest transactions a clear demonstration of our sourcing capabilities," said Sirius' CEO Andrew Coombs. The Dresden site is a 21 158 square metre light industrial park occupied by the vendor who has entered into a 1-year sale and leaseback and is expected to vacate thereafter. Sirius plans to convert the site into a multi-let industrial park after the tenant departs and will use the intervening time to curate a multi-let strategy. The site currently generates net operating income of €2.1m. The site will be Sirius's fourth in the Dresden area, alongside Klipphausen, Reinsberg and MicroPolis. The company said Dresden was attracting significant inward investment, particularly in the semiconductor sector, with construction of a €10 billion manufacturing plant already underway by a consortium led by Taiwan Semiconductor Manufacturing Company. This investment was generating tenant demand for Sirius' existing sites in the region, with this newly acquired site expected to attract similar levels of interest, said Coombs. In the UK, Bedford Heights was a 238 000 square foot multi-let business park comprising warehouse, leisure, studio and office space, with a three-acre car park. The property was in line Sirius' strategy of targeting well-located, income-generating assets with value-add potential. The acquisition also aligned with Sirius' focus on the defence sector, with 36% of the site let to tenants with strong defence and military backgrounds. The asset was 96% occupied, generating a net operating income of £1.54m. It's largest tenant, an electric components manufacturer, occupies 33% of the space. The park was near Sirius's existing sites in Sandy and Milton Keynes, allowing for operational synergies. Bedford was also the site of a proposed Universal branded theme park, which was forecast to deliver £50 bn of economic benefit to the area over the next 20 years.
Business Insider
19-07-2025
- Business
- Business Insider
Citi Sticks to Its Buy Rating for BNP Paribas (0HB5)
In a report released today, Andrew Coombs from Citi maintained a Buy rating on BNP Paribas. The company's shares closed yesterday at €77.15. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Coombs covers the Financial sector, focusing on stocks such as UBS Group AG, Deutsche Bank AG, and Barclays. According to TipRanks, Coombs has an average return of 17.7% and a 74.04% success rate on recommended stocks. In addition to Citi, BNP Paribas also received a Buy from Goldman Sachs's Chris Hallam in a report issued on July 11. However, on July 10, J.P. Morgan maintained a Hold rating on BNP Paribas (LSE: 0HB5). Based on BNP Paribas' latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of €29.52 billion and a net profit of €2.32 billion. In comparison, last year the company earned a revenue of €24.63 billion and had a net profit of €1.07 billion
IOL News
26-06-2025
- Business
- IOL News
Sirius Real Estate acquires more industrial property in Germany for R267. 4 million
Sirius CEO Andrew Coombs says the company, which owns branded business and industrial parks in Germany and the UK, currently has the flexibility and resources to continue to make accretive acquisitions. Image: Supplied Sirius Real Estate's share price increased 3.18% on the JSE Thursday after the owner of branded business parks said it had acquired a light industrial property in Geilenkirchen, Germany for €12.9 million (R267.4m). The acquisition was in line with Sirius' 'strong acquisition pipeline,' the group management said in a statement. The share price increased to R23.37 on the JSE in the afternoon, continuing a rise in the price over three months, when it was trading at R20.19. The acquisition comes a day after Sirius announced it had secured a new €150m unsecured revolving credit facility, with an initial three-year term, and with the option to upsize by up to an additional €100m. The additional funding would allow the company to continue to take advantage of current market conditions and its strong acquisition pipeline, as well as managing cash balances efficiently as it passes through bond refinancing windows. The Geilenkirchen asset was acquired by way of a sale-and-leaseback transaction, with a precision engineering business that specialises in processing sheet metal using laser technology, which had entered into a triple net lease on the entire property. The acquisition reflected a net initial yield of 9.3% on a property that is less than 25 years old, Sirius' management said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ The property is west of Düsseldorf, 33km from Sirius' existing site in Aachen. In close proximity to the Belgian and Dutch borders, the area is one of Europe's most dynamic economic regions, benefitting from a strong industrial base. Meanwhile, as part of the ongoing UK portfolio optimisation, Sirius also exchanged contracts for the disposal of a small non-core asset in Huddersfield to an individual, for £1.55m. The transaction was concluded at a 7% premium to the asset's most recent book value and reflected a disposal yield of 8.1%. CEO Andrew Coombs said the acquisition provided them with a well-located asset at an attractive yield, and further strengthened their footprint in the Euregio Maas-Rhine industrial region. He said with that Geilenkirchen also home to a NATO airbase, the acquisition may benefit from defence investment, particularly after news this week Germany's defence spending would head towards a new target of 5% of GDP. The acquisition follows the Reinsberg and Monchengladbach acquisitions announced earlier this year. "We have the flexibility and resources to continue to make accretive acquisitions at this opportune point in the market cycle," said Coombs. Visit:
Yahoo
10-06-2025
- Business
- Yahoo
UBS stock tumbles on capital concerns
-- UBS Group AG (NYSE: NYSE:UBS) shares fell sharply during Tuesday's trading session, with the stock dropping as much as 7% amid concerns over new capital requirements. The Swiss banking giant faced analyst skepticism regarding the impact of Switzerland's proposed legislative changes on its competitiveness and ability to return capital to investors. The decline marks the most significant drop for UBS in two months, reversing the initial gains seen last Friday after the Swiss government's capital requirements were made public. The announcement ended a period of uncertainty, but analysts have since raised alarms about the severity of the proposals. JPMorgan Chase (NYSE:JPM) analyst Kian Abouhossein noted the negative implications for UBS, cutting his forecast for the bank's share buybacks significantly—down to $3.5 billion from $6 billion for next year, and to $4 billion from $8 billion for 2027. The legislative proposals, if enacted, could require UBS to increase its capital cushion by as much as $26 billion. The bank has criticized the draft as "extreme" and is actively seeking to influence the legislative process in Switzerland. Despite confirming its payout plans for the current year, UBS has indicated it will provide an update on its "2026 capital returns ambitions" with its fourth-quarter results. Citi analyst Andrew Coombs commented on the mixed outcomes of the proposals. He acknowledged the high end of the capital requirements but pointed out the extended transition period, which could mitigate immediate impacts on dividends and buybacks. However, Coombs expressed concerns over potential amendments during the consultation and legislative process, as well as UBS's earnings momentum compared to peers. Related articles UBS stock tumbles on capital concerns JPM says buy these 2 auto supplier stocks over Tesla Paramount Global reduces U.S. staff by 3.5% amid industry challenges - report Sign in to access your portfolio
Business Insider
09-06-2025
- Business
- Business Insider
UBS Group AG (UBS) Receives a Hold from Citi
In a report released today, Andrew Coombs from Citi maintained a Hold rating on UBS Group AG (UBS – Research Report), with a price target of CHF26.90. The company's shares closed last Friday at $33.62. Confident Investing Starts Here: According to TipRanks, Coombs is a 5-star analyst with an average return of 17.5% and a 74.88% success rate. Coombs covers the Financial sector, focusing on stocks such as UBS Group AG, Deutsche Bank AG, and Standard Chartered. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for UBS Group AG with a $37.57 average price target. Based on UBS Group AG's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $11.38 billion and a net profit of $1.69 billion. In comparison, last year the company earned a revenue of $11.94 billion and had a net profit of $1.76 billion Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of UBS in relation to earlier this year.
