Share Name Share Symbol Market Type Share ISIN Share Description
Aew UK Reit LSE:AEWU London Ordinary Share GB00BWD24154 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 101.50p 101.00p 102.00p 101.50p 101.50p 101.50p 195,887 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 11.1 6.1 5.0 20.1 153.83

Aew UK Reit Share Discussion Threads

Showing 101 to 124 of 125 messages
Chat Pages: 5  4  3  2  1
DateSubjectAuthorDiscuss
24/10/2017
10:38
Director/PDMR Shareholding - HTTPS://www.investegate.co.uk/aew-uk-reit-plc--aewu-/rns/director-pdmr-shareholding/201710241038504600U/ NED Bim Sandhu appears to have picked up an additional 75,000 shares at 100.5p in the placing to add to his existing 575,000 shares. New holding 650,000 shares. Due to the dilutive effects of the placing, his %age holding has fallen slightly from 0.47% to 0.43%. According to the prospectus for the placing, Bim Sandhu has the largest shareholding of all the directors.
speedsgh
20/10/2017
12:54
Agreed, plenty of room to wriggle both ways. They did, however, demonstrate their strategy by realising a significant profit on disposal of Valley Retail Park in September, although this sale came in at the lower end of AEWU's market value range of £10m-£15m (AR to 30.4.17). One swallow doth not a summer make, so more needs to be done to add asset value and ergo NAV.
exmooroil
20/10/2017
12:20
exmoor - Yes. They also state that "The Directors will declare dividends taking into account the level of the Company's net income and the Directors' view on the outlook for sustainable recurring earnings. As such the level of dividends paid may increase or decrease from the current annual dividend, which is 8 pence per Share over the 12 months ending 30 April 2017." Plenty of wriggle room there and not upward-only wriggle room either.
speedsgh
20/10/2017
07:23
speeds - they seem to look for properties which others bypass, and gearing is pretty low. The main threat to the dividend would be voids, and recession would be a catalyst for that. I don't hold, as I've got my full allocation of property companies and there aren't any I'd want to sell. But I can see the value of holding some of these.
jonwig
20/10/2017
07:20
From the "intention to raise..." RNS re dividend policy: "Based on the current market conditions, the Company expects to pay an annualised dividend of 8 pence per Share in respect of the financial period ending 31 March 2018 and for the interim financial period to 30 September 2018" That gives dividend visibility at the current rate, unless market conditions change, from and including 31.10.17 to 30.9.18, of 9.5p. Disappointing response to the initial issue.
exmooroil
20/10/2017
06:57
Agreed. Whilst the dividend is very attractive, one should be concerned imo if that is the company's main USP. That USP would disappear overnight if they were unable to maintain the dividend in the face of a downturn in the sector. Discl. - have a modest holding purchased in 2015.
speedsgh
20/10/2017
06:30
I agree - think people are fed up with all these new REITs coming to market - most don't raise their target size. AEWU does have a usp, though, in its dividend yield.
jonwig
20/10/2017
06:21
AEWU have raised £28.1m gross thro their Initial Issue. They were targeting £40m. Evidence that appetite for the plethora of secondary/IPO fundraisings in the sector is waning?... Results of Initial Issue - https://www.investegate.co.uk/aew-uk-reit-plc/rns/results-of-initial-issue/201710200700021375U/ The Board of AEW UK REIT plc (the "Company") is pleased to announce that the Company has raised gross proceeds of approximately £28.1 million pursuant to the Initial Placing, Initial Offer for Subscription and Intermediaries Offer (the "Initial Issue") of the Share Issuance Programme, as described in the prospectus published by the Company on 28 September 2017 (the "Prospectus"). The net proceeds of the Initial Issue are expected to be approximately £27.5 million.
speedsgh
18/10/2017
17:19
chopshs - basic eps are statutory eps which includes rental income (cash) and valuation uplifts (non-cash). Forget the non-cash, if net rental income covers the dividend, it's OK, covered. In fact a REIT must pay out at least 90% of this. Don't forget that a new acquisition can involve a sweetner on rent: initial rent might be discounted for a couple of years before rack rent kicks in.
jonwig
18/10/2017
15:52
Thanks speedsgh. The last finals state basic eps as 5.04p which I'm using to conclude that the divi is uncovered. I assume some costs are excluded from the alternative measure of eps that the company are using to claim the divi is covered. I haven't spent a huge amount of time researching this company but have concluded the divi can only be maintained at 8% if other sources of finance, in addition to rent, are utilised to pay it (new share issues(!), property sales, etc).
chopshs
18/10/2017
11:25
chops - from Final Results released on 10/7/17... HTTPS://www.investegate.co.uk/aew-uk-reit-plc--aewu-/rns/annual-financial-report/201707100700075151K/ "Net revenue over the year was 7.49 pps which, based on dividends paid of 8 pps, reflected a dividend cover of 93.63%." However, from the latest dividend announcement on 25/8/17... HTTPS://www.investegate.co.uk/aew-uk-reit-plc--aewu-/rns/nav-update-and-dividend-declaration/201708250700029504O/ "This quarter sees the dividend return to being fully covered." EPRA earnings per share for the period of 2.10 pence per share (30 April 2017: 1.84 pence per share). Interim dividend of 2.0 pence per share announced for the quarter ended 31 July 2017. Hope this helps.
speedsgh
18/10/2017
10:17
iii article says divi is covered but I don't think that's correct? Looking at last accounts eps was 5p. With divi at 8p it would seem that 3p is coming from capital. I was thinking of buying some shares here but uncovered divi and high management costs are putting me off.Any comments?
chopshs
10/10/2017
13:57
5min video interview with AEWU Portfolio Manager, Alex Short. Presumably part of a marketing campaign for the proposed fundraising... Why we buy small properties for an 8% yield - HTTP://citywire.co.uk/investment-trust-insider/news/why-we-buy-small-properties-for-an-8-yield/a1057383 Brexit and the threat of an exodus of City workers have cast a dark cloud over the London commercial property market, but investment opportunities remain good outside the capital, according to Alex Short of AEW UK Reit (AEWU). In this video interview Short explains how it is still possible to generate attractive income and capital returns from small but high quality properties in the provinces. She highlights how some smaller industrial units are trading at 25-year lows when adjusted for inflation and that she has begun to see investment opportunities in the battered high street, retail sector. Launched two years ago, AEWU is the highest yielding property fund in the AIC Property Direct - UK sector. The company pays quarterly dividends of 8p a year, which Short says are covered by earnings. Its average loan to value is 20% but this may raise to 25%. The real estate investment trust is looking to raise up to £60 million from investors to expand its £131 million portfolio. New shares are being offered at 100.5p, a 1% discount to the closing price on 28 September before the fund raising was announced. The subscription offer to new investors closes on 18 October and a placing to existing investors ends the next day...
speedsgh
11/9/2017
15:45
@jonwig - lowly geared, which is a plus, but agreed - none of these types have been tested in a downturn.
spectoacc
11/9/2017
15:43
Likely between 97p and 101p. How much risk though is taking an 8p dividend? Voids, lease breaks, tertiary properties ... as a non-holder I need to do more research on this one!
jonwig
11/9/2017
15:14
Not unexpected, and will probably get it away at a premium (to NAV, not s/p) - they do what they say on the tin & the income seems to be iresistable. Not a holder atm.
spectoacc
11/9/2017
14:45
Confirmation that the company intends to undertake a 12 month share issuance programme, starting with an initial fundraise with target of £40m expected to close mid-Oct 2017 (may be increased to £60m dependent on demand/opportunities at the time). They also announce Change of Accounting Reference Date from 30th April to 31st March each year. Interims will be for the 6 months ending 31st Oct 2017, but the annual results will be for the 11-month period ending 31st March 2018. There is also a confirmation of the dividend policy & how payment timing will be affected by the Change of Accounting Reference Date. They confirm that they intend to pay a total of 8p for the period up to 31st March 2018 based on current market conditions. Intention to issue new equity - HTTPS://www.investegate.co.uk/aew-uk-reit-plc--aewu-/rns/intention-to-issue-new-equity/201709110751473368Q/
speedsgh
25/8/2017
07:33
Continuing to do exactly what it says on the tin. Premium to NAV does worry me, tho they're hardly alone amongst big divi-payers trading at a premium.
spectoacc
25/8/2017
07:30
Note the reference to a probable fundraising in today's update... HTTPS://www.investegate.co.uk/aew-uk-reit-plc--aewu-/rns/nav-update-and-dividend-declaration/201708250700029504O/ "Going forward, it has always been the intention to grow the Company, which is currently trading strongly in the market. Accordingly, subject to market conditions, the Company will look to raise additional capital during 2017. At the time of any significant fund raise, the Board will review the level of capital targeted to be raised and the assets likely to be acquired, together with the existing assets, activity and market prospects at the time and may issue further dividend guidance at such time, if appropriate. The Company will continue to focus its investment in relative value opportunities offered by pricing inefficiencies in smaller commercial properties let on shorter occupational leases."
speedsgh
25/8/2017
07:29
NAV Update and Dividend Declaration - HTTPS://www.investegate.co.uk/aew-uk-reit-plc--aewu-/rns/nav-update-and-dividend-declaration/201708250700029504O/ Alex Short, Portfolio Manager, AEW UK REIT, commented: "Despite some uncertainty caused by the General Election, the performance of the Company's assets has continued strongly over the past quarter with like-for-like valuation growth of 1.4% recorded. This compares favourably to MSCI data which shows that the market as a whole delivered growth of 1.1% over the quarter to 30 June 2017 on a "standing investment" basis (excluding transactions and developments). We are particularly pleased with the capital appreciation delivered by the Company's industrial assets which have seen the strongest growth of all of the sectors in which the Company is invested, at an average of 2.8% within the quarter. The portfolio has been particularly well placed to benefit from this movement with its high weighting towards the industrial sector where many of our recent acquisitions have been focused. Following the three industrial acquisitions in the quarter, the Company is now fully invested, including utilisation of the proceeds from the sale of the Core Fund units. The new acquisitions in Runcorn, Deeside and Peterborough are all in locations which exhibit low levels of supply alongside robust tenant demand and a low level of passing rent. Occupier markets have also shown resilience over the period as evidenced by the Company having completed its final letting at 40 Queen Square in Bristol. Further to this, we have seen significant progress in other key occupational transactions over the quarter for which further announcements are expected to be made in due course. These successes will help to secure and lengthen the Company's income stream and ensure its sustainability for future performance. This quarter sees the dividend return to being fully covered. The increase in earnings is partly attributable to non-recurring items of 0.14 pence per share in the quarter. In addition to the performance of the portfolio itself we are also pleased by the resilient performance of the Company's share price which has maintained a robust premium to NAV for over 6 months now. We are confident this will assist in growing the Company to provide enhanced liquidity to the Company's shareholders. As such, we highlight that we continue to see a strong pipeline of available stock at yields which would be accretive to the current portfolio. Over recent weeks we have seen an increased number of attractive opportunities in the retail and office sectors and we therefore expect that future acquisitions will represent a more balanced spread of property sectors, rather than being concentrated in the industrial sector as we have seen over past quarters. In line with our strategy we continue to focus on finding future acquisitions which will deliver an attractive return from a well-diversified regional portfolio." Dividend The Company today announces an interim dividend of 2.0 pence per share for the period from 1 May 2017 to 31 July 2017. The dividend payment will be made on 29 September 2017 to shareholders on the register as at 8 September 2017. The ex-dividend date will be 7 September 2017. The dividend of 2.0 pence per share will be designated 2.0 pence per share as an interim property income distribution ('PID'). The EPRA earnings per share for this period were 2.10 pence (30 April 2017: 1.84 pence). The increase in earnings per share is partly attributable to non-recurring items of 0.14 pence per share in the quarter, including business rates credits and back-dated turnover rent received. At the time of the Company's IPO, AEW UK Investment Management LLP (the "Investment Manager") provided guidance that they would assemble a portfolio supporting a target dividend between 8 to 9 pence per share. The initial portfolio has now been assembled and the Company has paid a 2 pence per share dividend for each quarter since January 2016. The Board of Directors are of the view that over the medium term this level of dividend is supportable from earnings on the current portfolio; accordingly, the Board has resolved to pay a 2 pence per share dividend for this quarter, as with previous periods. With this dividend, the Company will have paid 15.5 pence per share since launch.
speedsgh
17/8/2017
09:06
AEW UK REIT’s 40 Queen Square fully let with Kingston Barnes taking remaining space - HTTP://www.commercialnewsmedia.com/archives/64605
speedsgh
11/7/2017
05:24
Eezy - yes, isn't the shortfall from last year down to some void periods or cash drag? As I said, I've not given my comments much thought ... just spouting snippets!
jonwig
10/7/2017
20:01
This is important "Under European Public Real Estate Association ('EPRA') methodology, EPS for the year was 7.57 pence" ie the 8p divi not quite covered last year, but that was presumably in the plan. Read section 3 of the following for the rationale. www.epra.com/media/EPRA_Best_Practices_Recommendations_BPR_-_Dec2014_1436191395537.pdf More and more REITS are quoting this, which is great for lazy people but terrible for me as Mr Market was often too lazy to work it out. It's key to success with comprop IMO. Much more so than NAV etc.
eezymunny
10/7/2017
18:48
tidcombe - I'm not a shareholder here, but essentially as a REIT it has to pay out 90% of its net rental income, irrespective of changes in property values. It seems to be doing this. ("Profit" is irrelevant to the calculation.) Property values only become relevant if they fall enough to affect loan covenants. If you look at the Investment Managers' Report you'll see this in the first table. Haven't time to go further, sorry.
jonwig
Chat Pages: 5  4  3  2  1
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:31 V: D:20171119 10:15:03