We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now


It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

ASLI Abrdn European Logistics Income Plc

-0.60 (-0.94%)
30 Nov 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Abrdn European Logistics Income Plc LSE:ASLI London Ordinary Share GB00BD9PXH49 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.60 -0.94% 63.00 3,740,052 16:35:26
Bid Price Offer Price High Price Low Price Open Price
61.50 61.70 62.10 60.70 62.10
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust EUR 36.6M EUR -18.44M EUR -0.0447 -13.76 253.49M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:50:17 O 2,530 63.00 GBX

Abrdn European Logistics... (ASLI) Latest News (8)

Abrdn European Logistics... (ASLI) Discussions and Chat

Abrdn European Logistics... Forums and Chat

Date Time Title Posts
27/11/202312:49Aberdeen Standard European Logistics Income plc307
24/8/201812:20Gross yields1
14/12/201718:22Aberdeen Standard European Logistics Income -

Add a New Thread

Abrdn European Logistics... (ASLI) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-11-30 17:50:1863.002,5301,593.90O
2023-11-30 17:41:5061.55250,000153,870.00O
2023-11-30 17:41:5060.6280,87549,025.62O
2023-11-30 17:38:2963.001,056,878665,833.14O
2023-11-30 17:14:1261.502,5711,581.17O

Abrdn European Logistics... (ASLI) Top Chat Posts

Top Posts
Posted at 30/11/2023 08:20 by Abrdn European Logistics... Daily Update
Abrdn European Logistics Income Plc is listed in the Real Estate Investment Trust sector of the London Stock Exchange with ticker ASLI. The last closing price for Abrdn European Logistics... was 63.60p.
Abrdn European Logistics... currently has 412,174,356 shares in issue. The market capitalisation of Abrdn European Logistics... is £253,487,229.
Abrdn European Logistics... has a price to earnings ratio (PE ratio) of -13.76.
This morning ASLI shares opened at 62.10p
Posted at 27/11/2023 08:08 by cwa1
Strategic Review

In line with its constitutional terms as set out on launch in December 2017, the Company is required to propose a continuation vote at its next Annual General Meeting, expected to be held in June 2024. With that in mind, and cognisant of the feedback received from a number of shareholders in recent meetings, the Board believes that the current point in time represents an appropriate juncture at which to consider more fully the basis on which the Company might best proceed, having regard for the best interests of shareholders as a whole.

Accordingly, the Board today announces that it is undertaking a strategic review of the options available to the Company (the "Strategic Review"). The Board will consider all options available to the Company that offer maximum value for its shareholders including, but not limited to, undertaking some form of consolidation, combination, merger or comparable corporate action, selling the entire issued share capital of the Company (which would be conducted under the framework of a "formal sale process" in accordance with the City Code on Takeovers and Mergers (the "Code")), and selling the Company's portfolio and returning monies to shareholders. There is no certainty that any changes will result from the Strategic Review and, for the avoidance of doubt, a continuation of the Company's current investment strategy with a rebased target dividend level is a potential outcome of the Strategic Review.

Tony Roper, Chairman, abrdn European Logistics Income plc, commented: "The Board's priority at all times is to act in the best interests of shareholders. Whilst we retain a strong conviction in the strategy, today's proactive decision to launch a strategic review largely reflects the unprecedented macro backdrop that real estate companies are operating against and provides greater optionality to deliver shareholder value."

The Board has appointed Investec Bank plc ("Investec") as Financial Adviser to manage the Strategic Review and formal sale process. Investec is acting as Rule 3 adviser to the Company under the Code.

The Board will make further announcements in due course.

Portfolio Update and NAV
Posted at 31/10/2023 12:39 by wiganpunter
Hi mate

I like both just make that clear but here am adding Asli because I think the ESG ratings are better and I like the Poland / Spanish exposure whereas if anything I felt ebox was a bit heavier towards Germany but I wouldn't want to get into a fight about it either way.

you make 50-60% on both here on capital appreciation .
Posted at 27/10/2023 15:06 by skyship
wiganpunter - thanks for all the detail.

As a matter of interest, is there any reason why you hold ASLI in preference to EBOX?

The latter on a higher discount (50.8% v. 43.6%) and a higher yield (9.8% v. 9.0%).

Also arguably a better and more diversified portfolio and less debt concerns.

I've obviously looked at these; but topped up EBOX as they seem demonstrably better value.
Posted at 27/10/2023 11:50 by wiganpunter
I have also written to the board to suggest that in 2 years time they issue green bonds given the strength of the bream / esg ratings in the portfolio . this will allow Tham to secure very advantageous borrowing rates. see example enclosed from prologis. the ASLI portfolio is incredibly esg rated - a huge plus also overlooked .

Ethan Gilbert, director of Global ESG at Prologis, reflects on the company’s green financing journey: “Our first step into the green bonds space was in 2018 in Europe, which is when we developed our global green bond framework. This framework was reviewed by Sustainalytics for alignment with the 2017 International Capital Market Association’s (ICMA) green bond principles.” The ICMA gives direction on how the proceeds of a green bond should be used to support green projects.

When it deploys a green bond, Prologis uses the proceeds to fund the construction or retrofitting of buildings, renewable energy and/or energy storage. Up to now, the company has concentrated on using green bond proceeds for green buildings, building to industry-leading certification standards (e.g., LEED, DGNB, BREAM and CASBEE).

“These high-quality buildings allow us to attract high-quality investors and tenants. We see many customers making decisions based on sustainable certification types,” Gilbert explains. “And our investors can know what to expect from us—they know that a new or newly redeveloped Prologis building will be a modern building, built to the highest standards and sustainably certified.”

Gilbert sees green financing as a means of attracting sustainability-focused or “dark-green221; investors willing to purchase debt. He notes, too, that it is an evolving model, and that other real estate developers have started exploring the use of green bonds to attract investors looking to build more diversified portfolios.
Posted at 27/10/2023 10:52 by wiganpunter
if useful the green street data has industrial property down 7.2% in the last 12 months. the ASLI nav is down I think 20 odd and clearly the price today implies another 45% so its just not justifiable on any analysis I can do.
Posted at 27/10/2023 10:31 by wiganpunter
morning , sorry i dont check this every day
ok I have been to the top 10 - I have a large position for my family office and we do rigorous due diligence inc site visits. its actually quite fun and we had a great weekend in Madrid.
you will be aware that the meung sur loire building is the oldest by far in the portfolio built in 2004 , unlike the rest of it which are all sub 5 years. it represents 2.7% of the rent roll and sits next to several buildings owned by prologis. I don't know a 100% but I suspect this will be sold to prologis who run the rest of the park . in the interim it has been updated but as the oldest asset given the esg focus I would sell it if I were them .
your question on Madrid ill take in 2 ways - not sure why you think Madrid is at the top of its cycle ? you will know the Leon Spanish asset was sold at a small premium to book a few months ago. Madrid last mile space ( 3rd largest city in Europe ) is very sought after and they paid using equity proceeds c 170 euros per square foot. the whole rent roll is index linked and uncapped and is adjusted annually so the lookback creates the base rent foe the next 12 months - you will note the passing rent roll at mid year was 12-15% up yoy reflecting those changes and more to come.
I find a really useful publication to be the green street indices which capture all transactions .
"London, 5 October 2023 – The Green Street Commercial Property Price Index decreased two percent in the third quarter. The index, which measures bid pricing levels across a broad swathe of B/B+ quality Pan-European commercial properties, sits 22% below its May '22 peak and is roughly on par with its ’07 peak. The retail and office sectors saw price declines of about five percent each in the three months to October 1st. The investment theme of a widening yield gap between A/A+ and B/B+ quality buildings resulted in average price declines across most geographies in both sectors. By contrast, a muted expansion in B/B+ quality yields in residential and industrial was offset by resilient fundamentals fuelling meaningful cashflow growth. Asset prices thus nudged one percent higher in each sector."
the point off all this being yes there are good and bad news in all these portfolios - we can talk about the 4 new leases signed in august too if you like but this is a super high quality book and currently is priced at 50% of its nav which makes zero sense in any scenario. longer term the capital uplift from here via a refinancing cycle in 2025 ( c4.5 rates anticipated puts you holding a modern portfolio with a 7% div at prices that are a glassy away from anything that is actually happening . I know Tony Roper the chairman bought stock and the fund managers are paid from carry in the fund so there is alignment but always nice to see more share purchases . hope that answers your questions sorry for the delay.
Posted at 26/10/2023 09:54 by giltedge1
Hello Skyship,

From Quoted Data Research note June 23 on RNS

"The manager is in advanced discussions with a party to lease the group’s Meung-sur-Loire property in France, which has been vacant since Office Depot France fell into administration in February 2021 (although ASLI collected rent from the administrator up to the end of the first quarter of 2022). The manager says that it is confident in re-letting the building, due to the location of the property close to Orleans, which can serve Paris as well as central and southern France, making it suitable as a national distribution centre. A sale of the asset is not off the table, if the right offer came in, the manager adds."
Posted at 24/10/2023 15:34 by spectoacc
Thanks @wiganpunter. The difficulty is, it's far from alone atm. Also if that debt is 2025 expiry, it'll need dealing with in 2024.

But otherwise agree - got eye on ASLI.
Posted at 24/10/2023 13:49 by skyship
ASLI plummeting new lows. They have an uncovered dividend and debt issues, but 50.5p does seem rather harsh.
Posted at 19/10/2023 19:28 by skyship
Getting to the crunch:

"Food for thought - my sense is here they are liquidated at nav or taken out at around nav"

Clearly liquidation wouldn't deliver NAV - not even close. Perhaps 12%-15% discount to get the assets away.

Taken out - yes, that would be the most likely solution - perhaps a 20% discount to provide a clear profit for the bidder.

Only problem is that any bidder would go For EBOX - not ASLI!
Abrdn European Logistics... share price data is direct from the London Stock Exchange

Your Recent History

Delayed Upgrade Clock

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 |