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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
|
|
|---|---|---|---|---|
| 1.10 | 2.15% | 52.30 | 12:00:26 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 51.50 | 51.50 | 52.30 | 51.20 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 17/4/2024 10:52 by pavey ark I appreciate that not all announced "agreed term" have completed it is highly unlikely that a management as experienced as this would announce a "sale" then have to come back and withdraw the announcement.I have looked at the disposal announcements and consider that there is a large industrial unit sale about to be confirmed at a 10% premium (this is the unit vacancy/sale that caused the vacancy rate to go from the expected 4% to over 7% so it is a large unit). The moorland looks like selling at a premium then we have Hagley Rd !!??? The markdown of Hagley rd Dec 2023 to under £20m looked very, very strange to me and I wouldn't be surprised to see it sell at a 15%-20% premium. I have been in and out of API several times over the past 5 years and back in over the last year with 9 purchases ......I have alway kept an eye on developments here and I have NEVER seen management buy anything other than quality assets ......these assets should now sell well. EDIT: Mark Blyth is very experienced and competent and has featured in investor presentation....cert |
Posted at 04/4/2024 11:04 by giltedge1 Sold API 0.50 & UKCM both at about 8% profit 1 year & transferred 50% to SHED & holding 50% for a Global fund, Just don't like uncertainty, silly thing is shareholders wanted merger but many are senior retail investors & not sure how to vote, or voting made difficult. Have a big holding in other REITs so over weight anyway. |
Posted at 03/4/2024 20:06 by nickrl In principle i get the wind down should realise in excess of the current share price but outside of small(ish) investors the big boys still don't seen any value in hoovering up a decent holding and just parking it for the payback? Guess this is just an indication of how unloved this sector is now to the so called professional investors/wealth mgrs. |
Posted at 02/4/2024 09:44 by dr biotech I couldn't easily vote either. Some platforms are better than others. API has a lot of smaller investors so it was always possible that one or two of the larger holders would be able to disproportionately affect the vote and thats how it turned out. Hopefully a larger vote to to wind it up.A couple of decent sales at CREI this morning, although these had been previously flagged. Think I'll hold these for another 8-12 months. They should be able to flog off the best properties at close to NAV fairly quickly, giving rise to some over optimism, whilst the less attractive assets will take longer and sell below par. At least thats my theory. Will look for another REIT to house the cash. |
Posted at 01/4/2024 11:26 by pavey ark Yes always taken by the "opportunity cost"..."better value elsewhere"...I often wonder why people bother to post as they obviously spend their time (money) stepping effortlessly from one stalled lift to the adjacent, rapidly rising one.Here a few statistics/percentag Windup to pass c. 80% ("activist investors" voted against merger) Windup to produce 70p / share over say two years c. 80%( 20% compound) No windup: API continues with greatly reduced debt( very low LTV) , quality portfolio, excellent management and high yield. " but certainly unlikely to deliver the sort of returns I'm looking for" You were chasing CREI !!??? API has a very reasonable chance of returning 20% / year for two years ???!!! As I always say "you pays your money and you takes your chance" |
Posted at 31/3/2024 09:52 by pavey ark Couple of points:If the recently vacated industrial unit could keep the vacancy rate at 7.6% from the expected 4.4% then it is rather substantial. This industrial unit is now under offer at 10% above the year end valuation. There is interest in the moorland at a premium to year end valuation. If these two sales go through and you have c. £25m of disposals at c. 10% premium then the wind down vote becomes a foregone conclusion. I would be okay with the vote going either way and not suggesting that these sales would be typical but they would certainly sway the vote. API does have a number of very good assets and an overall very sound portfolio. Regarding the vote we have "activist" investors who voted against the CREI deal and they want the assets sold. |
Posted at 27/3/2024 17:07 by nickrl CREI a bit hacked off in their RNS and pointing the finger"In fact, shareholders accounting for just 14% of API's register proved sufficient to prevent the resolutions passing. These votes were, we understand, primarily from institutional investors who believe a 'managed wind-down' of API's portfolio will better protect shareholder value, despite the API Board clearly and publicly setting out the flaws in this conclusion. CREI wishes API and its shareholders every success in the future as API continues as an independent business" |
Posted at 20/3/2024 08:34 by skyship Mark & Jason doing the right thing for shareholders. The BoD on the other hand for some reason intent on selling us down the drain at a large discount to API's true worth.-------------------- Mark Blyth, Deputy Fund Manager of API commented: "These two sales continue the disposal strategy that was implemented at the end of last year, with the proceeds being used to pay down the Company's Rolling Credit Facility which has a floating interest rate. It follows on from the sale in December of the industrial asset in Livingston and demonstrate the continued appeal of the API assets to investors at prices close to NAV." |
Posted at 20/3/2024 07:56 by cwa1 Hmmmm...20 March 2024 Double asset disposal abrdn Property Income Trust ("API") has contractually agreed the sale of two assets for a combined price of £16.55m, reflecting a -0.3% discount to the December 2023 valuation. Contracts have been exchanged for the sale of 15 Basinghall Street in London, with completion scheduled for Friday 22nd March. The c17,500 sq.ft office building is multi-let to 7 tenants with a weighted average unexpired lease term of approximately 1.5 years. The agreed sale price of £9.8m reflects a net initial yield of 8.25% and is a 7.1% discount to the September 2023 valuation. Opus 9, Warrington is a prominently positioned industrial estate let to two tenants, Verizon and Teckentrup. Extending to c53,100 sq.ft, it has a weighted average unexpired lease term of just over 5 years. The sale has completed with the price of £6.75m reflecting a net initial yield of 5.91%, which is a 5.5% premium to the September 2023 valuation. Mark Blyth, Deputy Fund Manager of API commented: "These two sales continue the disposal strategy that was implemented at the end of last year, with the proceeds being used to pay down the Company's Rolling Credit Facility which has a floating interest rate. It follows on from the sale in December of the industrial asset in Livingston and demonstrate the continued appeal of the API assets to investors at prices close to NAV." |
Posted at 19/2/2024 17:49 by yump On a general point, I wonder if these share based mergers and combinations at least protect investors from crystallizing losses, which would be the case if they were cash offers.Especially if they were cash offers from opportunistic buyers that are not listed, hunting around for bargains. A larger group at least makes for a less digestible takeover target and will remove potential acquirers that don’t have the financial muscle. I really hope that the depressed REIT’s don’t attract vulture cash buyers from overseas. |
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