Abrdn Property Income Share Discussion Threads

[williamcooper104] 26/6/2024 23:15

IHT won't matter CGT might a bit - as in any buyer might factor in paying higher tax reducing returns -The whole industry used to never model tax on basis that it was never paid - that's changed but when it changed it didn't have a huge impact on pricing

[essentialinvestor] 26/6/2024 17:20

Cyclicals generally weak today.

[riverman77] 26/6/2024 17:12

Yes I might sell SHED instead after good run, and I must admit slightly underwhelming results. Currently hold 5 REITs but keen to get this down to 4 (API, EBOX, SHED, SUPR, CREI)

[hindsight] 26/6/2024 15:20

Think a bigger question should be, will the CGT & IHT changes that are coming reduce prices to compensate

[williamcooper104] 26/6/2024 14:58

I'm holding this and my other wind ups in my trading account (self designated) so that's not a problem - it's margin funded so I don't have an opportunity cost on it as would otherwise But yes if you are of the view that rates are going to fall then you at least want a balanced portfolio with a good chunk of long duration assets (I'm full up on the higher quality infra names for that reason) That said selling out very quickly at reasonable discount to NAV still ought to work as can then reinvest while yields still high elsewhere

[essentialinvestor] 26/6/2024 13:58

riverman, I might question selling very near 50 pence v other sector opportunities, but no crystal ball !.

I've sold a few more SHED this morning as it's nicely outperformed over the last few weeks.

[riverman77] 26/6/2024 13:30

For those that are expecting a recovery in property markets as interest rates fall (I would put myself in this camp), I'm wondering whether a wind-up play such as API is really the best option. They might end up selling properties prematurely before market has properly recovered. They are also likely to be under a bit of pressure to get this wound up quickly, so may not acheive the best prices. I currently hold, but thinking about switching into some of the other REITs.

[waterloo01] 26/6/2024 12:28

Doesn't it depend on sipp provider. Might be the case with trusts, but you can hold individual shares that de list in a sipp on case by case basis?

[citytilidie] 26/6/2024 12:20

Isa rules are different. Anything is very unlikely to happen regarding the assets of API. It was more of a note to let people know the SIPP rules in case it helps in the future. If anyone holds shares in SIPPs that have more chance of going into liquidation that you still want to hold, I would either sell them and buy them back in either your own name, or Isas. Just don’t keep them in SIPPs.

[spectoacc] 26/6/2024 11:58

They tend to transfer out of ISA, if something delists. Which can potentially have CGT implications later.

None of this likely to be much of an issue with API.

[paulboz] 26/6/2024 11:56

I assume it's different with a stocks and shares ISA then?

[spectoacc] 26/6/2024 11:34

API wouldn't be delisted long, but it's a good point - I've some Jupiter EM too.

Some others have taken several years, even without Putin, to finally wind up. The Ventus funds had an amusing one where they'd done some calculations incorrectly.

[citytilidie] 26/6/2024 11:32

Be careful if you own API in a SIPP as once delisted, they cannot be transferred out of the SIPP. I know in this case it’s doubtful, but if any assets remain unsold for years you will be stuck.I held shares in Jupiter Emerging frontiers who decided to wind themselves up. Once delisted, Russia suddenly decided to invade Ukraine and as Jupiter held about 5-6% of assets in Russia these cannot now be sold. As it stands I will end up having to pay a monthly SIPP charge to Interactive for years even when there are no other assets or cash in my SIPP. The rules are the same if ANY shares in SIPPs go bump

[skyship] 24/6/2024 16:58

Good 2-way trade today with the sellers apparently in the ascendant; but the share price moving up 2%. I suspect AVI Global Trust (AGT) building their position...

[essentialinvestor] 24/6/2024 12:30

News imminent..?.

[nickrl] 22/6/2024 19:31

As long as the BoDs listen to JB but given the chairman has made a lousy job so far who knows.

[skyship] 22/6/2024 14:28

As Nexus stated above:

"From page 17: Five assets have been identified totalling 57.7m @ 6.61% blended NIY."

5 assets valued at £7.5m to £17.1m

More than likely expressing their interest elsewhere as can't imagine JB accepting a 14% hit on current valuations.

[skyship] 22/6/2024 13:15

I'm sure a number of buyers will have been expressing their interest, not just SHED.

Though we have to be patient, the first SALE RNS will trigger interest for sure; with the relationship to past valuation(s) of particular interest.

[flyer61] 22/6/2024 11:26

Interesting nexusltd.

Even at 62p we would still be looking at double digit annual returns over the next two years given there will be dividends as well.

If you are correct the share price won't budge from down here until we see the sales/cash flowing in.

Goes some way to explaining the share price action at EBOX as well.

Maybe EPIC was actually a good deal for us after the advent.

[riverman77] 21/6/2024 20:43

SHED is seeing strong rental growth so would expect their EPS (and hence dividend cover) to increase significantly over coming years. Compare with something like NRR whose dividend is well covered, but not seeing any growth. I prefer to look ahead and would choose SHED over NRR every time.

[flyer61] 21/6/2024 11:44

Got todays at 50.02 :-).

[essentialinvestor] 21/6/2024 11:22

I couldn't add any under .5015 on the offer,
might be available lower down later.

[flyer61] 21/6/2024 11:16

On sale again today....risk reward is just to high not to keep buying at the 50p level.