Warehouse Reit Share Discussion Threads

[spectoacc] 25/4/2024 12:10

@Makinbuks - that was my thought too, particularly when shown in dramatic %'s.

WHR have a debt problem, one they'll be able to sort out but it won't be getting cheaper like they'd hoped.

[makinbuks] 25/4/2024 09:56

And no news on the announced sale of their major development project. I don't like it when companies announce selectively good news

[nickrl] 25/4/2024 09:40

@igoe yes they show good leasing activity but contracted rent is a tad lower than Q3 albeit they made a disposal in the qtr so to be expected. Bottom line is the dividend remains uncovered and they still have an element of the RCF uncapped at 7.4%.

Better value elsewhere imv.

[igoe104] 25/4/2024 07:31

Fantastic numbers, share price should be much higher..

[apollocreed1] 07/3/2024 17:25

Anyone think that this could possibly be a takeover target by Segro? Or might they prefer EBOX?
Is the debt higher on WHR or on EBOX?

[igoe104] 01/3/2024 09:43

Decent numbers by bbox today, this sector is completely well over sold..

[sleepy] 13/2/2024 09:27

Or to pay dividends???

[nickrl] 12/2/2024 21:33

guess they will use proceeds to hack off a portion of the uncapped element of the RCF

[bathcoup] 12/2/2024 21:33

selling at a net initial yield of 5.3% - they're desperate for cash?

[bathcoup] 12/2/2024 21:25

disposal of two assets above the September 2023 book value (no IRR's given):

[purplepelmets] 12/2/2024 07:43

Not if shareholders get any say in the matter

[igoe104] 12/2/2024 07:21

Consolidation in the section with Bbox gobbling up UKCM..

[nickrl] 22/1/2024 10:50

@Sleepy total agree all of them tell you the positive side never anything negative. Anyhow despite the impressive asset mgt metrics for this qtr over the first 9mths that has translated into less than 4% growth in NRI so they are way off covering the divi. Maybe the valuers will give them a boost come FY results that give them some capital growth to neutralise the fact that the divi remains well uncovered. The fact LMP are seeking diversify through LXI acquisition suggests that this sector is going to be the place to be for a few years.

[sleepy] 22/1/2024 09:44

Would be even better if they confirmed no increase in vacant property

[qs99] 22/1/2024 08:13

Decent update DYOR

[makinbuks] 20/12/2023 14:31

Looks that way, helps the NAV calc and improves operating performance through easier refinancing

[qs99] 20/12/2023 13:50

Peak interest rates hopefully, should allow this to trend back over £1....DYOR

[qs99] 27/11/2023 12:14

Really nice vote of confidence IMO.DYOR

[skyship] 27/11/2023 08:40

The Board of Warehouse REIT announces that on 24 November 2023 Tilstone Partners Limited (the "Investment Advisor") acquired 592,038 ordinary shares in the share capital of the Company at a weighted average price of 83.7 pence per share for a total cost of GBP500,000.57.

Following the purchase, the Investment Advisor and its directors have an interest of 27.77 million ordinary shares, representing 6.5% of the Company's issued share capital.

Simon Hope, Managing Director of Tilstone Partners Limited said: "This purchase demonstrates our commitment to and confidence in the quality of Warehouse REIT's assets. Given the attractive return prospects we see in the business and with shares trading significantly below replacement value we see this as a very compelling investment proposition."

[nickrl] 17/11/2023 22:14

@makinbuks way off covering the dividend and they really need to cut it imv. Certainly they are seeing good levels of rental growth but even with all reversion captured they wouldn't cover the divi. Yes disposals are at a profit but each one gives away rental income and running with this divi level is just adding further to debt load which will be on the uncapped element currently. Not sure of the logic on extending the debt at this juncture either as that just added loan arrangement cost for no improvement in margin just slightly better covenants which already had headroom. Anyhow probably has takeout potential that will give it support.

[makinbuks] 15/11/2023 09:37

Big change of direction at Radway. Pre let fell away and now up for sale. Probably the right decision but this statement is putting a brave face on what must be a big disappointment for the managers.

Good progress on ERV's, its all about covering that dividend now

[igoe104] 15/11/2023 08:19

Surely these reits will now start narrowing the discount between the Nav now that inflation is falling.