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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Abrdn Property Income Trust Limited | API | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.10 | -1.45% | 6.80 | 16:12:27 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 6.80 | 6.49 | 7.03 | 6.80 | 6.90 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 03/12/2024 | Interim | GBP | 0.03 | 19/12/2024 | 20/12/2024 | 10/01/2025 |
| 27/09/2024 | Interim | GBP | 0.01 | 14/11/2024 | 15/11/2024 | 29/11/2024 |
| 08/08/2024 | Interim | GBP | 0.01 | 15/08/2024 | 16/08/2024 | 30/08/2024 |
| 02/05/2024 | Interim | GBP | 0.01 | 16/05/2024 | 17/05/2024 | 31/05/2024 |
| 19/01/2024 | Final | GBP | 0.01 | 08/02/2024 | 09/02/2024 | 23/02/2024 |
| 07/11/2023 | Interim | GBP | 0.01 | 16/11/2023 | 17/11/2023 | 30/11/2023 |
| 09/08/2023 | Interim | GBP | 0.01 | 17/08/2023 | 18/08/2023 | 31/08/2023 |
| 11/05/2023 | Interim | GBP | 0.01 | 18/05/2023 | 19/05/2023 | 31/05/2023 |
| 02/02/2023 | Interim | GBP | 0.01 | 09/02/2023 | 10/02/2023 | 24/02/2023 |
| 03/11/2022 | Interim | GBP | 0.01 | 10/11/2022 | 11/11/2022 | 25/11/2022 |
| 04/08/2022 | Interim | GBP | 0.01 | 11/08/2022 | 12/08/2022 | 26/08/2022 |
| 03/05/2022 | Interim | GBP | 0.01 | 12/05/2022 | 13/05/2022 | 27/05/2022 |
| 02/02/2022 | Interim | GBP | 0.01 | 10/02/2022 | 11/02/2022 | 25/02/2022 |
| 04/11/2021 | Interim | GBP | 0.008925 | 11/11/2021 | 12/11/2021 | 26/11/2021 |
| 04/08/2021 | Interim | GBP | 0.008925 | 12/08/2021 | 13/08/2021 | 27/08/2021 |
| 06/05/2021 | Interim | GBP | 0.008925 | 13/05/2021 | 14/05/2021 | 28/05/2021 |
| 19/04/2021 | Interim | GBP | 0.00381 | 29/04/2021 | 30/04/2021 | 18/05/2021 |
| 03/02/2021 | Interim | GBP | 0.00714 | 11/02/2021 | 12/02/2021 | 26/02/2021 |
| 04/11/2020 | Interim | GBP | 0.00714 | 12/11/2020 | 13/11/2020 | 30/11/2020 |
| 03/08/2020 | Interim | GBP | 0.00714 | 13/08/2020 | 14/08/2020 | 28/08/2020 |
| 23/04/2020 | Interim | GBP | 0.0119 | 14/05/2020 | 15/05/2020 | 29/05/2020 |
| 04/02/2020 | Interim | GBP | 0.0119 | 12/03/2020 | 13/03/2020 | 31/03/2020 |
| Top Posts |
|---|
Posted at 18/12/2024 18:08 by swiftnick Nexus,The expression you have set out in your post 1302 doesn't work because the shares being redeemed are a different class to the shares held. And re your post 1305, the number of shares that will be redeemed is not an unknown, it is the same number of shares as your API holding at the record date. You are being issued with one redeemable bonus share for every API share held. So you will very briefly hold the same number of each. The number of API shares that you will hold post redemption will be exactly the same number as you held before. |
Posted at 18/12/2024 15:47 by swiftnick Nexus,Thanks for your reply in post 1302, but I don't think you have understood the question.We used to have x shares in APIThen we had x shares in API and x bonus shares.Soon we will have x shares in API plus £0.52x in cash.The receipt of £0.52x in cash triggers a part disposal for CGT purposes. See hTTps://www.gov.uk/g |
Posted at 04/12/2024 14:47 by pavey ark I think the 64p as being 63p+1p was put forward here but I consider Q3 to be long gone and the 1p dividend with it.The company repeated target is 64p but they are unlikely to say 64p then come in under that......the Q3 income before the 1p dividend was £3.4m so the following two months had a net income of over £2m and no dividend payment. The Q3 figures had a NAV of 65p with as many costs as possible accounted for so 64p-65p now looks like the figure The one thing that is bugging me is the purchase price of £234m net gives 61.5p/share but there is a lump of cash in the account that is not included.....I know there are current running costs and wind-down costs but....?? Then there is the land sale. One thought did occur to me is that the REIT status required a certain dividend payment but 3p making 6p does seem a bit over the top. Having settled on 64p-65p ( my opinion for my decision) we now have:- buy for 60.8p get 55p back then wait and see .......hmmm seems good to me. |
Posted at 04/12/2024 11:30 by chucko1 PA, the thought when the news of the sale was first announced was that 64p was inclusive of any interim dividend. Your £11.5mn dividend is likely already a part of the £234mn (although the original notice was confusing to everyone here).67p would not be my central or even stress high assumption, but rather the original 64p. The market is saying the same thing. The 3p dividend is taxable for many holders, and this surprisingly large dividend portion was not welcome. Hence the subdued reaction, even with what seemed a meaningful step towards liquidity. |
Posted at 27/11/2024 11:19 by skyship Verbage below taken from the Sale RNS two months ago. So, this Friday sale should complete:=========== Conditions and timetable: Completion of the Transaction is anticipated to take place on 29 November 2024. It is intended that subject to receipt of consent from the Scottish Forestry Commission, Far Ralia will be transferred from APH to API prior to completion. Provisions have been made to complete on the sale in the event of a delay by Scottish Forestry, whilst protecting the interest of API. The Transaction is also subject to clearance under the UK National Security and Investment Act 2021. It is expected that following completion of the Transaction and at an appropriate point in time, API will seek API Shareholders' approval to appoint a liquidator to wind up the Company and to cancel the Company's admission to trading on the Main Market of the London Stock Exchange. Trading in API Shares will no longer be possible from that time. From the point that the conditions to the Transaction are satisfied, API will not continue to fulfil the relevant conditions to qualify for UK REIT status. The intention is to commence the returns of capital to shareholders as soon as the liquidator can do so. |
Posted at 07/11/2024 22:23 by joey52 Date: 7 November 2024Company: abrdn Property Income Trust Limited Subject: Dividend Declaration Third Interim Dividend The Directors of abrdn Property Income Trust Limited (the "Directors") have declared a dividend of 1.0p per share payable in respect of the quarter ended 30 September 2024 split as follows: Property Income Dividend ("PID") 0.3000 pence per share Ordinary Dividend ("Non PID") 0.7000 pence per share Ex-Dividend Date - 14 November 2024 Record Date - 15 November 2024 Payment Date - 29 November 2024 Dividend per Share - 1.0p |
Posted at 27/9/2024 06:23 by spectoacc Leaking it has indeed forced it out much faster. Hooray."The Estimated Net Asset Value per Share represents: •a discount of 12.7 per cent. to API's net asset value per API Share of 73.3 pence as at 30 June 2024; •a premium of 6.66 per cent. to the API Share price of 60 pence as at 26 September 2024, being the closing API Share price immediately prior to the date of this announcement; and •a premium of 20.1 per cent. to the API Share price of 53.3 pence on 28 May 2024, being the date that API Shareholders approved the Managed Wind-Down." 29th November for completion. Can see why some will have wanted more - all very well to point out the time value of money, but over time the assets should be worth more/would have been bringing in income too. |
Posted at 25/9/2024 14:28 by spectoacc "abrdn Property Income Trust Limited (“API” or the “Company”Any sale would involve the disposal of the Company’s entire investment property portfolio, with the exception of its interest in the land at Far Ralia. There can be no certainty that any binding sale agreement will be entered into, nor as to the terms on which any transaction may occur. API has not received any offer in respect of the issued share capital of API." Not convinced "Advanced discussions" ties with not having received any offer - clearly the price is known. Just the junky Far Ralia they don't want. |
Posted at 14/5/2024 08:01 by spectoacc Circular is out:"James Clifton-Brown, Chair of API, said: "API has consistently sought to invest in good quality assets that produce an attractive level of income and which also have the prospect of income and capital growth, resulting in an attractive portfolio and consistent outperformance against the benchmark at the property level. Nevertheless, API, along with other REITs and diversified investment trusts, continues to contend with the significant challenges facing the real estate sector which in API's case are compounded by the relatively small scale of the Company, resulting in a sustained and substantial trading discount to net asset value, low share liquidity and a concentrated debt structure. Pursuant to its comprehensive review of API's strategic options, and consistent with its previous announcements, the Board believes that a Managed Wind-Down is now the best means of maximising value and unanimously recommends that API shareholders vote in favour of the proposed change to API's investment policy at the forthcoming General Meeting." |
Posted at 13/5/2024 18:00 by nexusltd Wind-up proposal docs to be published tomorrow 14/05.Diary notes. Review of FY24Q1 RNS & RCF estimate post #753 RCF 31.6mn v. 29.745mn estimate. Significant variances: • Capex Knowsley, and other expenses: 1.8mn not accounted for. • Merger costs: 1.1mn v. 2mn estimate • Uncovered FY23Q4 dividend: adding 0.94mn to RCF v. fully covered estimate Valuations • FY24Q1 Industrial: +0.3% v. CBRE +0.1% • FY24Q1 Office: -4.0% v. CBRE -1.7% (Williamcooper recently posited a 10% haircut on office portfolio; on target.) • FY24Q1 Retail: -0.6% v. CBRE +0.2% Office 54 Hagley Rd, Birmingham From FY23 AR. 4.5% of portfolio. Leasehold. Note 16 “Obligations under Finance Leases” of AR informs ground rent liability. Valuation likely in right ball park. Far Ralia, FY23 AR Quotes. “Soft marketing commenced after the period end for the sale of Far Ralia, the Company’s natural capital asset. Timing of the exit is being influenced by changes to the grant funding submission period and strong progress on planting in order to maximise value for the Company.” “Indications suggest the capital value uplift on a sale will make this investment one of the Company’s better investments.” ” To date, the Company has completed approximately 80% of the detailed planting plans … ” My reading & questions. • Potentially profitable investment, testing the waters for now. • Exit timing to maximise return unknown; paperwork problems, & hope that the exceptionally low rainfall in the Cairngorms region is not an impediment to planting saplings or a fire risk. • FY23 AR Note 8 Land. So far we have spent 9.6mn-0.62mn grant, & written down by 1.3 mn. • With the Greens out of the coalition will the “grant funding” be deemphasised? • Is work progressing presently & if so how are the costs of labour, plant (digger) hire, and materials being funded? Disposal difficulties? • FY24Q1, 06 May 2024 “The largest vacancy is of a logistics unit that became vacant in November 2023, and had been under offer to sell to an owner occupier, but that is no longer progressing.” • RNS, 1 February 2024 announced sales that have not completed. Odd announcements b4 cash in hand & during corporate action. o “Sales have also been agreed of two industrial assets for a total of £24.4m (year-end valuation £22.4m. “ o “Terms were also agreed for the sale of our City of London office and Manchester Office for a combined £14.75m (year-end valuation £15.35m) reducing office exposure by 3.5% to 13%. -3.9% valuation discount” (Monck Street, London? 101 Princess Street, Manchester?) Dividend • Expect FY24Q1 proposed dividend to still be uncovered; another c. 0.9mn added to RCF? • “Dividend guidance will be revisited after the wind-down vote.” Since FY22Q2 total 1.2p of dividend not covered by EPS, increasing RCF by 4.5mn + compounding interest @ 6.70% p.a. • Dividend to be reduced to 2pps? Yield margin on cost of capital @4.8% v. EPRA NIY @4.8%, =0%. If dividend reduced to 2pps, cost of capital @1.4% v. EPRA NIY @4.8%, margin =3.4%, which is reasonable. • Loan agreements, from FY23 AR P9 “The two facilities from RBSI are due to expire in April 2026 and incur no early repayment fees.” Incentive to scrub the dividend and focus on repayment. Is REIT regime terminated on a wind-up vote allowing discretion on earnings/capital allocation? Other • Vacancy rate 7.9% v FY23Q4 7.6%. “The vacancy rate of 7.9% excludes! the recently completed speculative development which represents 2.5% of ERV. That and the logistics unit in Swadlincote (3.3% of ERV)”. • Rent collection FY24Q1 99% • Lease incentives increased in FY24Q1 & reduced EPRA earnings by an additional 0.3mn. • “Further strategic review costs of 0.5p per share will crystallise if the managed wind-down is voted for by shareholders.” = 1.9mn |
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