Abrdn Property Income Share Discussion Threads

[spectoacc] 20/6/2024 16:48

I didn't think SHED (or CREI) would be coming back due to their debt positions, but I agree there's now a strong possibility of SHED cherry-picking a couple of API properties, after their RNS this morning.

[rimau1] 20/6/2024 15:52

SHED have already completed DD was the point being made

[dr biotech] 20/6/2024 15:06

Think it may take a bit longer to get any news flow. If you are going to spend £10m on property is going to take quite a bit of due diligence etc. I'm expecting some steady newsflow around 2-3 months after the vote. Would of course be happy to be proved wrong.

[spindoctor111] 20/6/2024 14:27

Added. An unusually solid opportunity.

Arguably we shd all stick these in the locker for six months or whatever and avoid viewing the irrational share price But we won't.

[essentialinvestor] 20/6/2024 12:57

We may get a disposal update from API within the next 2 weeks.

[essentialinvestor] 20/6/2024 11:54

Yup, just posted on the SHED board.

[rimau1] 20/6/2024 11:51

Shed indicating that they are considering leveraging up which hopefully means sniffing around some of the API logistical assets. Bottom of the cycle should be in.

[essentialinvestor] 19/6/2024 17:02

sj, your guess may be as good as anyones.


We 'should' get back to around .53 pence on disposal news.

[sjl301] 19/6/2024 14:34

When do we expect to hear an update on this then? Any guesses?

[essentialinvestor] 18/6/2024 12:28

The sector has provided multiple opportunities this year.

Why so skittish..?, not exactly sure, however rates remaining higher for longer will be one factor.

[skyship] 18/6/2024 11:24

Strewth - out for a couple of hours this morning & return to see somehow API had been sold down to 49.6p! What idiots sell down below 50p; even below 51p; even below 52p.

These have to move back above 53p in a few days time...

[flyer61] 18/6/2024 10:39

Yep, given the director buying higher than this (they didn't need to) I've topped up this morning sub 50P.

[badtime] 18/6/2024 10:08

Tad surprised to see the buy price back to 50p

[riverman77] 16/6/2024 17:53

There will be inevitably be a few assets that are hard to sell and will need to go at a big discount, but equally a lot of high quality industrial assets that could well go at a decent premium, especially if there is a pick up in the property market. Overall, I'd say the current 30% discount more than compensate for these risks.

[redhorse2020] 16/6/2024 15:23

Haha "hope" the key ingredient for all the best investment decisions ??

[essentialinvestor] 16/6/2024 14:16

I would hope the current share price more than allows for any weaker than expected asset sales. As both CREI snd SHED wanted the API assets and had conducted due diligence, there should be a fat margin of safety built in at this price.


SHED reports shortly - hopefully it can push above the £1.23 area.

[riverman77] 16/6/2024 12:42

He's probably right, the combination with CREI would have been the best option and I originally bought API on the expectation this would go through. Wind up is now the best option though as can't see ever trading close to NAV again.

[skyship] 16/6/2024 09:32

Phayre-Mudge at TRY a busted flush IMO. His crass decision to be a cornerstone investor in the abortive Special Opps REIT says it all.

API has a quality portfolio; and if, as ever, there are 2-3 properties needing to be shifted at the end of the process - well, there is a price for everything and a 15% SALE discount will suffice to wrap things up.

[raj k] 16/6/2024 08:50

Reading the TRY annual report and managers comments on API and CREI merger . In a nut shell he doesnt like that API is going down a managed wind down. Wondering if there will be a tail of weak assets or selling into a recovering market will offset somewhat.



' Not all the year's corporate activity followed the expected path. An agreed merger between two small companies we did not own, Custodian REIT (market cap £330m) and Aberdeen Property Income (£185m), failed to get the necessary shareholder support. We think this is a shame as the alternative - a managed sale of the assets - rarely produces a satisfactory outcome, due to the time taken and the price achieved for a given portfolio's 'tail' of weakest assets'

[sharpshare] 14/6/2024 18:15

Price at 50.7p in late afternoon trading today, discount around 33% so upside 50% if they can sell at NAV plus dividend income.

[essentialinvestor] 14/6/2024 16:20

Average of .5192 on my current lot,
however I sold some over .53/3 as we seem to run in to big resistance around there.

Same with SHED a bit over £1.22, then it hits a brick wall, at least for now.

Tbf most people may not have the time or inclination to trade, buy and hold results in a quieter life.

[essentialinvestor] 14/6/2024 16:09

I have this afternoon, the dog days of summer though it come.

[frazboy] 14/6/2024 15:50

Heading back into the 40s? Might drift until news flow. Happy to add at this level

[essentialinvestor] 12/6/2024 12:45

Added at .5242.