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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ing Uk | IRET | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 52.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 52.50 |
| Top Posts |
|---|
Posted at 29/5/2011 07:41 by flying pig Is it time for a new thread following the name change to Picton?Perhaps I am the last man holding for the steady dividend yield. |
Posted at 27/4/2011 17:24 by flying pig Results - no great surprise and another 1p dividend plus modest asset appreciation.Sit back and enjoy dividend yield and modest capital growth. |
Posted at 30/3/2011 11:59 by skyship IRET will announce results for the 12 months ended 31 December 2010 on:# Tuesday 5 April 2011. |
Posted at 22/12/2010 19:12 by envirovision Shoved my money back into IFD whilst its still around the 39p mark. Fantastic dividend yield there >9% PA trading reasonable discount to NAV and have little doubt that some stage 2011, it will zoom back to 46p as it did last September.I also note anothet holding of mine at recent highs again today, IRP. Nice yield there too, but discount to NAV not as great albiet it debt situation slightly better. All fun and games, still dont understand what drove the IRET price here, answers on a post card. |
Posted at 22/12/2010 10:06 by praipus Can anyone tell me if the IRET mentioned in this RNS is the same as IRET here?Also what is the EPIC for the Z's? |
Posted at 16/12/2010 11:49 by skyship Interesting statement from IRET today. It has helped the share price continue its upward path since its recent breakout through the 47p resistance. Target looks to be 52p, at which level the yield falls to an uncovered 7.7%. The NAV discount falls to c12%.Personally I screwed this one up when I decided to go 25% liquid a month ago; and one of my sales was IRET @ 47p after they went XD. Allowed myself to be put off after that covered/uncovered divi debate. My fault. Took a turn but missed out on a larger one. If I were holding now I would be looking to sell and to switch into larger discount plays such as MCKS & TEIF. |
Posted at 06/11/2010 11:28 by skyship Sleepy - seems as though you are right. I also rec'd the same answer to my email to Helen Stott @ IRET . The Merrill Lynch surrender premium is reported as being in excess of £4m versus the other operating income figure declared as £4.875m. The property is due to have been refurbished and back on the market about now; so available in quite a strong letting market. Still, I reckon there has to be a recurring shortfall there; and even with the Rugby income it does look as though the IRET dividend will be uncovered at 4p per annum. That said, they've just reaffirmed the qtly 1p divi, so the annual 4p looks safe IMO. Pity - perhaps a BUY / STRONG HOLD rather than a committed BUY. That said - 8.5% is still pretty attractive and there does seem to be underlying support, so I still see these higher, though will taper my enthusiasm until the income aspect is clarified with the Feb'11 Prelims... |
Posted at 05/11/2010 19:39 by jonwig This might help clear up the question of "other operating income" - posted on the RUSP thread:jonwig - 5 Nov'10 - 18:17 - 526 of 528 edit SKYSHIP - [...] By the way, off topic. I've been looking at IRET and noted the point a poster made on your thread about large "other operating expenses". I'm convinced these have something to do with accounting for the acquisition of the Rugby REIT and will be recurring. I e-mailed the company about this but they haven't replied. I'd really like this cleared up before I put any money there. AlanJI - 5 Nov'10 - 19:20 - 527 of 528 jonwig - it is "other operating income" not expenses and I also emailed the co and got a reply: "The £4m+ 'other operating income' refers to the surrender of the lease at Farringdon. This is mentioned on page 7 of the accounts under offices. I have copied and pasted below for your information. Other notable transactions include the surrender of Merrill Lynch's lease of 50 Farringdon Road, London, EC1 with the tenant paying the Company a surrender premium in excess of £4 million. The building is now to be refurbished to provide Grade A office accommodation. The refurbishment is expected to be completed by the end of 2010, which we believe will be good timing in terms of attracting a tenant in an improving central London occupier market." I am hoping to do an analysis of dividend cover shortly but it is pretty complicated. My guesstimate is that the div is 75% covered. jonwig - 5 Nov'10 - 19:30 - 528 of 528 edit Alan - yes, it's income, my misprint. I searched the last accounts but didn't find that. The fact that the 4p divi is uncovered is, as you say, likely. However, will a similar rental income replace it post-refurbishment? Also, I'm not clear about how much the Rugby REIT acquisition will contribute. It's just in a bit of a fluxious state ... but then what property companies aren't - ever? [...] |
Posted at 29/10/2010 17:22 by skyship Sleepy re divi cover you'll find everything in the comprehensive Interim Report from 26th Aug'10. Essentially the net profit was £8.985m and the distribution of 2 x 1p divis in the period cost £6.6m. Cover = 1.36xFINANCIAL HIGHLIGHTS > Increase in NAV to GBP203.0 million or 59 pence/share. > EPRA diluted NAV GBP218.5 million or 63 pence per share. > Profit for the period of GBP20.8 million driven by income profit of GBP9.0 million and capital profit of GBP11.8 million in the period. > Dividends totalling GBP6.6 million, or 2 pence per share, paid over the period. > Maintained fully covered dividend at 1.36 times. OPERATIONAL HIGHLIGHTS > Successful NAV accretive acquisition of Rugby Estates Investment Trust Plc. > Non dilutive equity issuance of 14.9 million new shares. > Additional cashflow flexibility provided to capital structure through issuance of zero dividend preference shares. > Repayment of GBP15 million of securitised debt at a discount to par value during the period. > Selective disposals during and after the period at a 16.8% premium to preceding valuation. |
Posted at 20/9/2010 19:31 by skyship ING UK Real Estate Income Trust "IRET"ING UK Real Estate Income Trust Limited is a closed-ended investment company, domiciled and incorporated in Guernsey and listed on the London & Channel Islands Stock Exchanges. The Company invests in property in the UK, the Isle of Man and the Channel Islands. The Property Portfolio is managed by ING Real Estate Investment Management (UK) Limited, a member of the ING Banking Group. On 20th Sept'10, the date of the launch of this new thread, IRET stand at 45p versus a 30th Jun'10 NAV of 59p (23.7% discount); and on a well-covered 4p dividend (paid qtly) the yield = 8.9%. Sentiment is currently wholly anti the sector, mainly due to the supposed threat of wholesale Bank sales at some near-term date; but the quest for yield during the regime of a 0.5% Base Rate might well make this a good buying opportunity. IRET appears to be a well-managed group, with powerful friends, yet arguably the shares offer a significant under-valuation. WEBSITE: Interim Report for the 6months to 30th June 2010: Extract from Chairman's Statement: Your Company has had a strong start to 2010, reporting a 7% rise in underlying Net Asset Value per share over the period. In addition, and differentiating it from many of its competitors, the emphasis on cashflow has ensured that we have delivered a fully covered dividend over the period, despite the ongoing challenging conditions of the underlying occupier markets. Most notably, during the period we announced and completed the successful takeover of Rugby Estates Investment Trust Plc, the first takeover of a REIT by an offshore company since the UK REIT legislation was introduced. This transaction has further enhanced the underlying property portfolio, in a manner that was accretive to Net Asset Value for our existing shareholders...." Industry STATS: Link to an ADVFN commercial property thread "CP+": |
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