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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Abrdn Property Income Trust Limited | LSE:API | London | Ordinary Share | GB0033875286 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-5.20 | -9.59% | 49.00 | 49.00 | 49.30 | 53.60 | 48.90 | 53.60 | 10,019,620 | 16:29:55 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Agents & Mgrs | 31.11M | -51.05M | -0.1339 | -3.66 | 186.8M |
Date | Subject | Author | Discuss |
---|---|---|---|
28/3/2024 19:28 | SKY, when mentioning the possibility of a second leg lower, I don't have in mind Another 9% share price decline - while a possibility, it's unlikely. Best guess is 46-48 type area - then again today could be the low. Good fortune. | essentialinvestor | |
28/3/2024 17:59 | FWIW, I think there's a chance of further falls, so keeping alert for it. Happy enough to be proved wrong though! | cwa1 | |
28/3/2024 17:06 | EI - another leg down? IMO no way; as witness the bounce every-time down at 49p. I'm viewing the wind-down as a near certainty as the stats are so overwhelmingly in favour - see the GRY discussions above. Also API's portfolio is quality; so selling into an improving market should be no problem; and there is also a chance that SHED may come back to take a few properties - as per their aborted manoeuvre of just a few days ago. In which case the whole deal could be completed well within two years. | skyship | |
28/3/2024 17:04 | Further to our previous communication, we have received an update regarding the abrdn Property Income Trust Limited scheme of arrangement event.The scheme was not approved by shareholders at the general meeting or the court meeting, both held on 27 March 2024.As a result, the scheme of arrangement with Custodian Property Income REIT has now been terminated.The company will now take steps to implement a managed wind down, subject to shareholder approval.To view the announcement in full, please copy and paste the link below into your web browser:https://www. | brassgemini | |
28/3/2024 17:01 | Can't believe some shareholders voted against would be 60p today. At b/e capital wise for myself, so have to assess if worth holding for circa 70p over 18 months, well that's 40% or moving elsewhere. Does anyone know % for required for windup?. | giltedge1 | |
28/3/2024 16:39 | Is anyone expecting another leg down?, just a one day fall perhaps a bit unusual, but who knows. Put it back on a watchlist. In terms of JB holding shares, I've not seen a recent RNS confirming he's bought any. To the best of my knowledge I can't ever remember him buying, but 20 years is a long time and he might have. Notice multiple members of the CREI board bought on the plunge. A keen eye for a bargain, eh. How much has this cost API in fees?. Advisers laughing all the way to the bank. | essentialinvestor | |
28/3/2024 15:58 | Suspect relationship twixt manager and chair is broke as is shareholders and chair. Golden handcuffs for manager and skeleton board/new chair assuming wind down vote approved | mindthestash | |
28/3/2024 15:44 | Well he's been doing the job for 20years, and his professional reputation will be partially reliant on him getting a decent price for the properties that he largely bought. I'd imagine he's also a shareholder (at least I hope he would be) so there would be his own financial interest there as well. I'd hope for a return of about 70p. Share buybacks could make it interesting, with the ultimate aim to buyback 100% of the shares. | dr biotech | |
28/3/2024 15:29 | If there is a wind-up of API, what incentive does Jason Baggeley et al have in getting best price in any sales? Shareholders will have effectively issued the staff with a P45 for a not too distant date, and if I were them, I would not be very motivated to get best value for the uncaring owners. | llef | |
28/3/2024 14:56 | Angora - sorry, Gross Redemption Yield (GRY); also known as Yield to Maturity (YTM). Essentially, say you buy at 50p and after two years receive 70p. Then a 40% gain which annualised is 18.34% pa. Riverman - quite right re dividends - how could I forget. Income will reduce as they divest; however API will still receive income from its portfolio. That should certainly add a few more %age points to the return. All makes API a pretty attractive investment; assuming of course that shareholders vote for the wind-down!!! | skyship | |
28/3/2024 13:30 | nickrl: I agree that the divi was overpaid hence I said 'revised' policy. Two very opportunistic bids well below NAV made supported by a weak board who failed to extract good value from the bidders just as the market and interest rate cycle are starting to turn. I do see more value in a carefully managed wind down however this bod is useless! | catch007 | |
28/3/2024 12:42 | Just bought another slab. Happy to wait it out for a wind down. Alternatively, it's still in play. | markth | |
28/3/2024 12:29 | @SKYSHIP, what is this GRY you mention? From context I'm assuming it's some kind of IRR figure but would be nice to know for sure. Thanks. | angora7 | |
28/3/2024 11:55 | @catch007 divi been too high for several years and making disposals is forgoing income which is barely neutralised by the reduced borrowing on the RCF. Reckon a 20% cut would be appropriate but suspect market wouldn't take that too well currently though. | nickrl | |
28/3/2024 11:50 | Skyship, I would also factor in the continuing rental income streams so should be more like 25% annualised return if they can sell everything within a couple of years (at a 10% discount to NAV). | riverman77 | |
28/3/2024 11:36 | The board has no credibility imho and will seek to expediate a wind down as a fire sale. Aberdeen continue to pursue their Investment Trust divestment strategy. On a separate note as a REIT will we see an early announcement on a revised dividend policy? | catch007 | |
28/3/2024 11:35 | Bought back @ 49.3p. Looks to have fallen too far: A 2yr wind-up delivering 70p (10.8% down on the Dec'23 NAV) would provide a GRY of 19.1% pa. An extra 3months would still deliver 16.8% pa. | skyship | |
28/3/2024 11:35 | Market certainly isn't happy time for the Chairman as a minimum to resign with immediate effect. | nickrl | |
28/3/2024 10:39 | My concern is that this wind down will be more like a flash sale. What assurance do we have that the board and the managers will whats right for remaining shareholders? | raj k | |
28/3/2024 09:41 | While the offer from CREI was too low, I personally wanted and expected the deal to go through as a cheap way to get exposure to CREI, which I'm sure would have rerated over the next year or so. Debating what to do now as generally don't have the patience for drawn out realisation situations - for me too much of an opportunity cost when there are so many other bargains out there right now. There also has to be the risk that the realisation doesn't get approved, in which case this will probably be stuck on a permenantly wide discount (even though unjustified, that's probably the reality as the market clearly hates API). | riverman77 | |
28/3/2024 08:48 | There was as good as guaranteed upside for holders, if the merger had completed - within 12 months, this morning's CREI was achievable. Find it difficult to relate to posts saying .. I'm celebrating this result. | essentialinvestor | |
28/3/2024 08:48 | Good to see the back of these bidders who were trying to get my shares on the cheap. Onwards and upwards to the managed wind down vote. | markth | |
28/3/2024 08:41 | I have DMA in my IDealing a/c; but my API holding is in my SIPP with AJBell - no DMA there unfortunately. Halved my holding at average 53.2p....will now watch and buy back if they drop to the 50p level. | skyship | |
28/3/2024 08:30 | This is an interesting one. Anyone thinking that the wind up vote is a no brainer is wrong. If this votes to continue then the board must resign. But the share price action of CREI this morning underlines one thing for me and that is the lack of love for API by the market. Despite the really good newsflow from API over the last 2 months I can see this revisiting the 40s if the wind up vote fails.Definitely trading opportunities here. I think I may also have to investigate DMA! | frazboy |
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