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API Abrdn Property Income Trust Limited

-0.15 (-0.31%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Abrdn Property Income Trust Limited LSE:API London Ordinary Share GB0033875286 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.15 -0.31% 49.00 621,733 16:35:10
Bid Price Offer Price High Price Low Price Open Price
48.90 49.40 49.80 48.00 49.80
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 31.11M -51.05M -0.1339 -3.69 188.32M
Last Trade Time Trade Type Trade Size Trade Price Currency
18:05:29 O 2,393 49.00 GBX

Abrdn Property Income (API) Latest News

Abrdn Property Income (API) Discussions and Chat

Abrdn Property Income Forums and Chat

Date Time Title Posts
08/12/202310:11Abrdn Property Income Trust - High yielding generalist REIT258
25/6/202309:02abrdn Property Income Trust Limited491
07/3/201513:14**** API Group ****1,092
01/2/201410:31API - Freddy's thread and so time to get in320
11/3/201009:18API - A Prime Investment (120p)546

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Abrdn Property Income (API) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-08 18:05:4849.002,3931,172.57O
2023-12-08 16:35:1049.0078,55738,492.93UT
2023-12-08 16:29:5549.40474234.16AT
2023-12-08 16:29:4349.0516681.42AT
2023-12-08 16:29:4349.055326.00AT

Abrdn Property Income (API) Top Chat Posts

Top Posts
Posted at 09/12/2023 08:20 by Abrdn Property Income Daily Update
Abrdn Property Income Trust Limited is listed in the Real Estate Agents & Mgrs sector of the London Stock Exchange with ticker API. The last closing price for Abrdn Property Income was 49.15p.
Abrdn Property Income currently has 381,218,977 shares in issue. The market capitalisation of Abrdn Property Income is £188,322,175.
Abrdn Property Income has a price to earnings ratio (PE ratio) of -3.69.
This morning API shares opened at 49.80p
Posted at 29/11/2023 13:25 by raj k
i see in the API latest results they announced the dividend was 100% non-pid. Are all API distrubutions non-PID? I want to add some more but it will need to be in a GIA and as far as im aware Non pid gets taxed as dividend income rather than at income tax rate,.
Posted at 22/10/2023 08:14 by giltedge1
Yes agree essential investor. I have commented as well conditions have been very accommodating last 10 to 20 years should be well up with their capital value, instead most have lost capital value up to 50%. Is a difficult one now for holding investors, ride out the storm, average down or take a hit. I am waiting for Q3 results & make my decision. API dividend looks safe & low gearing, high occupancy spent a lot upgrading so looks a hold.
Posted at 21/10/2023 14:39 by essentialinvestor
What's utterly shocking is following a decade plus of a property bull market,
with asset values boosted by ultra low interest rates, many sector share prices
are near the GFC lows - a time when it looked as if the world as we knew it was ending.

This will not have gone unnoticed and may be one reason why investor confidence in the sector is shot through.

There are some notable exceptions, Segro, Grainger, etc.
Posted at 20/9/2023 07:51 by skyship
Since April the MACD has been indicating a gradual climb; whilst the share price presenting a gradual decline. The gap between the 50day SMA & the 200day SMA likely to close, taking API back into the 50s.

free stock charts from
Posted at 17/8/2023 12:47 by giltedge1
Agreed office exposure in right places, Birmingham Office updated, so expenditure behind them, can't imagine many being built their in next few years. Bracknell & Reading affluent SE towns, could be sold for repurposing, & City Office fully let.
Recent lettings in offices, mean a big drop in void costs 2023. Good long leases at St Helens & Welwyn Garden City & new industrial unit being built. Checking the share price graph last time share price this low 2009, so the odds statistically speaking of making a gain are great. considering portfolio improved, old offices & industrials sold, so can argue buying now much more modern & potentially rewarding portfolio than way back then in 2009.
My question as now yielding 8.5% & over 40% discount, how come Manager & Directors' are not buying?.
Posted at 17/8/2023 12:18 by skyship
Today's RNS - see Header:

Negative investor sentiment towards the commercial real estate sector has seen the share price discount to net asset values (NAVs) among REITs and listed property companies remain excessively wide, including abrdn Property Income Trust (API). This is despite a large valuation correction at the end of 2022 and transactional evidence of value stabilisation. A re-rating of the sector and API's shares should be triggered by market indications that interest rates have peaked (due to their close correlation with property yields), so promising inflation data for June was encouraging.

For API's manager, the focus continues to be on growing income, and on that front it has performed well. Asset management initiatives within the portfolio have seen its vacancy rate drop to below 5%, after a string of recent lettings within its office portfolio. Additional rental reversion potential across the wider portfolio might encourage further positivity.

Full Research:
Posted at 25/6/2023 07:58 by skyship
Abrdn Property Income Trust (API) is an actively managed UK REIT targeting high yield and capital growth.

API is a “generalist” fund and intends to achieve the investment objective by investing in a diversified portfolio of UK commercial properties in the industrial, office, retail and ‘other’ sectors, where ‘other’ includes leisure, data centres, student housing, hotels and healthcare. As at Mar’23 the sector allocations are:

Industrial: 53.4%; Office: 19.5%; R/W: 14.8%; Other: 10.5%; Retail: 1.8%

As at 31 March 2023, API had a Loan to Value (LTV) of 28.7%, calculated as debt less all cash divided by investment portfolio value. Debt with RBSI totals £165m for 3yrs from Apr’23 with interest capped at 5.5% - full details in the links below

Following the dividend being maintained at an annualised rate of 4p per share since December 2021, the dividend cover for Q1 2023 is 88.6%. The Board has provided guidance of its intention to maintain the current dividend level which it believes will be substantially covered in 2023 and 2024.

24/04/23: Annual Results to Dec’22:

13/06/23: Latest corporate presentation:

17/08/23: Research update by QuotedData

API Website:

Link to the old thread:
Posted at 03/5/2023 07:17 by spectoacc
We can all pick winners or losers to post, but as this is the API thread:

And one to compare it to:

Both issued at 100p at a similar time (2004?), both spent time above 100p but much more below. Would seem to prove @giltedge's point. API in particular has spent 19 years almost halving in capital value (again, both ex dividends - BCPT's was paid uncovered for years).

And yes - this is all share price not NAV. Last NAV on API c.84p, last on BCPT c.118p. But you can't sell at NAV.
Posted at 20/4/2023 07:05 by cwa1
19 April 2023

API - abrdn Property Income Trust industrial development update

The abrdn Property Income Trust (“API”) forward funding at Stadium Way in St Helens achieved practical completion on the 3rd of April. Immediately following this, a 15-year lease of the entire building to St Helens Borough Council completed at an initial rent of £657,040 p.a. with 5-yearly rent reviews linked to the movement in CPI +1% (collared and capped at 2% and 4% p.a.). The EPC “A” property has been under-let to a not-for-profit organisation called Glass Futures, who will establish a research and development facility focused on improving methods of glass manufacture from an efficiency and sustainability perspective. Whilst the property itself is a largely standard industrial unit, the bespoke fit-out will provide a state-of-the-art facility that has been funded by St Helens Borough Council, the Liverpool City Region Combined Authority and UK Research and Innovation.

Following completion of the St Helens pre-let development, API has commenced work on a speculative industrial warehouse in Knowsley. API acquired the site in February 2023 upon achieving full planning permission and construction has started on a 107,000 sq.ft. high-specification unit which will target an EPC “A” and a BREEAM rating of “ExcellentR21;. The building is scheduled to complete before the end of 2023 and is anticipated to benefit from favourable market dynamics with low levels of supply and robust tenant demand.

Mark Blyth, Deputy Fund Manager of API commented: “Investing via development is a way for API to acquire assets where we have influence over the specification right from inception of the property. We can then focus on ensuring that the building meets not only the most appropriate operational specification but also that ESG considerations are incorporated from the start of construction. This has the double benefit of aligning with API’s focus on sustainability and also enhancing returns.”
Posted at 02/11/2022 10:47 by pavey ark
I doubt if this is anything close to a distressed or forced sale.

These sort of negotiations must have a considerable lead time but the final sale price may have been "adjusted".

API sold offices for c£8m in August on a 5.3% yield and did say that it could have problems with improving the EPC rating.

The company recently stated that ALL offices were compliant with the 2030 EPC requirements so this asset (after recent refurbishment) was now at least B rated.

Obviously the almost 12% discount is "disappointing " but at least 5% has been acknowledged as the Q3 industry wide valuation guide....... more for offices ?

Perhaps more importantly the API share price has dropped over 30% since June and any share buyback would obviously be a better deal than holding this asset.
If the dividend is held at anything close to the current value the "yield" on the buyback is c. 7%

My guess is that the £7.7m will simply go against the revolving credit debt and bring the total (term + RCF) very close to £100m with the possibility of a future buyback programme.

Interesting to look at the 2021 report and the occupancy rates "The portfolio vacancy rate at the end of 2021 was 9.7%. This is higher than the Investment Manger targets (5%) and is predominantly within the office portfolio."

Given that things are unlikely to get better for the office sector sales in this sector should be viewed against this backdrop.
Abrdn Property Income share price data is direct from the London Stock Exchange

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