Abrdn Property Income Share Discussion Threads

[skyship] 29/5/2024 15:40

waterloo - yes, they are/will be making disposals of the portfolio and returning the net assets to shareholders over time.

In the case of API, under the incentivised and excellent asset management of Jason Baggeley, we could see 70p by 31/03/26. That would provide a Gross Redemption Yield of 17%pa. Though you could add to that the portfolio income and raise the GRY to 20%pa!

Matters will evolve soon enough; and peoples' estimates of both the totality of the return and the timeframe will evolve accordingly.

IMO should be a very secure and profitable investment.

[waterloo01] 29/5/2024 14:46

skyship, you posted elsewhere.

"So API & ASLI now account for 22% of my portfolio as the GRYs seem likely to deliver 15% - 20% pa over the 12-30month wind-down periods."

How safe is the capital amount in wind down. Aren't they in effect distribution capital rather than a 15% return. Looking to invest if they return is as you suggest

[pavey ark] 28/5/2024 22:56

"Frankly I don't understand shareholders who rely on others to make decisions for them."

I am tempted to give a rather short two word answer to that and the second one being "off"

Being a nice, calm, even tempered sort of a guy I would point that I explained that I was not really sure which way I wanted the vote to go......under these circumstances I decided to let things take their course......obviously it was only going one way as all the "apparently knowledgeable" people knew.

[nexusltd] 28/5/2024 22:40

@nickrl. I looked at institutional holdings earlier. If you eliminate HL, ii, and AJB from the list, given that they are largely warehouses for PI's, the % is much reduced.

[williamcooper104] 28/5/2024 22:21

I did my bit No prizes for guessing my vote

[nickrl] 28/5/2024 21:56

@Sky at least 45% of the shares are in the hands of institutions so pretty poor they don't vote.

[skyship] 28/5/2024 20:42

Extraordinary that 2/3rds of shareholders failed to vote on such an important issue. Even an apparently knowledgeable shareholder like Pavey also failed.

Frankly I don't understand shareholders who rely on others to make decisions for them.

[pavey ark] 28/5/2024 17:05

John Baron is a long time investor in API (unlike some here)and values the quality of the management and the quality of the assembled portfolio (unlike some here).
As I pointed out before it is entirely rational that Baron , a supporter and investor in ITs , doesn't want to see his choice reduced.

I have been a frequent investor in API and even though I have recently built up an even larger holding at a total of c.50p I would not have been that bothered if the vote failed..........however I can obviously see the upside and will not be shy about taking profit from the situation.

(I didn't vote either way)

[nexusltd] 28/5/2024 16:34

Yep you are right, similar turnout; happy that Baron's call went unheeded !
My thought is that, poor turnout = limited buying pressure.

[spectoacc] 28/5/2024 16:20

Not much difference to the CREI merger turnout.

But 95% when threshold 50%. Up yours, John Baron (who I see now has a portfolio management co - hopefully does better than his recent performance).

[nexusltd] 28/5/2024 16:15

Finally a welcome result !
Turnout poor though, just 34.5% of shares voted. :-(

[skyship] 28/5/2024 16:05

Pretty clear cut!

[frazboy] 28/5/2024 14:50

The result of the last vote wasn't released until after the market closed. I wonder how the NED voted who purchased the 125,000 shares last week. With the board's recommendation I would think.

[arbus5000] 28/5/2024 14:45

something tells me that the board won't be 'api with the results.....

[skyship] 28/5/2024 14:33

Chairman states:

"A RNS will come out this afternoon once the final count is completed and checked."

[raj k] 28/5/2024 13:17

Looks like Chairman (and Board) will keep everyone hanging for as long as possible as they didn't get their way with the merger.

[spindoctor111] 28/5/2024 11:23

Not even the market is indicating.... Imperfect info = imperfect market = opportunity of course.

[skyship] 28/5/2024 11:07

11:07 - and still no news!!!

[skyship] 28/5/2024 10:38

10:38 - someone must know the result by now...

[raj k] 28/5/2024 10:08

I have added some more API this morning @52.9 in a last hooray hopefully before the wind down vota gets passed through.

[essentialinvestor] 28/5/2024 09:54

Getting some support ahead of the announcement.

Nice chunky recent director buy.

[sjl301] 28/5/2024 08:24

Thanks skyship - will take a look!

[skyship] 27/5/2024 12:09

sjl301 - well, as API is indeed winding-up, I'm rotating into API big-time.

That likely GRY of 18%+ pa just too good to miss!

Elsewhere - well ASLI of course as that too is now in wind-up mode.

Others I hold are:

# AEWU (84.4p) for the 9.5% yield

# CLI (88p) for the well-covered 9% yield & 65% NAV discount

# SERE (63.8p) for the 8% yield and 40% discount