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Davy Research

Hibernia REIT (HBRN.I, HBRN ID)

Mkt. Cap (€ m):747.7
Shares (m):661.7
Free Float(%):97.5

HIBERNIA REIT
Closing Price (c): 113.0
RATING 11/11/14
OUTPERFORM
PREVIOUS RATING

Person's Name

Colin Grant

Analyst

Research

Company Profile

Since its IPO in December 2013, Hibernia REIT has invested €330m in direct properties, committed a further €8m and has €69m in secured loans. Hibernia has invested across the value spectrum, acquiring 15 direct assets and loan notes secured against 14 properties. Its portfolio of investment properties spans core, core-plus, value-add and development assets. Hibernia REIT offers investors direct and concentrated exposure to a rapidly recovering commercial real estate market in Dublin, in particular the office and residential sectors.

Major Shareholders	%
TIAA-CREF Investment Management	7.0
Baillie Gifford	6.0
OppenheimerFunds	5.2
Timbercreek Asset Mgmt	5.2