Share price drifting downwards here, as are many REITs at the moment. Big discounts emerging. Just negative sentiment? Time to buy more AEWU? The yield is extremely attractive at the moment. |
Ahh ok. They didn’t split it last time |
Dividend
Dividend declaration
The Company today announces an interim dividend of 2.00 pence per share for the period from 1 April 2022 to 30 June 2022. The dividend payment will be made on 31 August 2022 to shareholders on the register as at 5 August 2022. The ex-dividend date will be 4 August 2022. The Company operates a Dividend Reinvestment Plan ("DRIP"), which is managed by its registrar, Link Group. For shareholders who wish to receive their dividend in the form of shares, the deadline to elect for the DRIP is 9 August 2022.
The dividend of 2.00 pence per share will be designated 1.50 pence per share as an interim property income distribution ("PID") and 0.50 pence per share as an interim ordinary dividend ("non-PID").
Balance probably still to be applied, hopefully should appear soonish? |
Is anyone else short on today’s dividend? I’ve been paid the equivalent of 0.5p instead of 2p with ii |
Steady as she goes... |
Email from Laura Elkin (management team). The acquisition of Glasgow was of the Heritable Interest, the Scottish equivalent of the English freehold. |
Freehold is the norm up here |
Reading the RNS from Friday I would say they have bought the freehold which includes redevelopment land. The RNS doesn't specifically say. If anyone is a shareholder and would like to know for certain, then an email to the company management should elicit a response to the question. |
Have We bought a lease in Glasgow or have we bought the freehold of the whole site |
Followed by steady progress through 24 and 25 given all the discounts I expect priced in and some |
so SREI expecting a 10-15% fall in values across the market? |
Also SREI presented on same platform today also worth a listen |
Monday's webinar is available on |
AEWU presentation interesting. Have acquisitions lined up already for the sales income due in a few weeks on exclusivity agreements - three retail parks (come on EPIC!!) a leisure facility, an office and a hotel although not sure this was all the assets or a selection of them but NIY of 8.1% quoted. |
Apologies Lord Gnome that subtle change in the sale price was not communicates so well spotted and entirely see your point now.
Fred thanks for clarifying to the group. |
Thanks Fred. I didn’t make that entirely clear. |
Nick the point is the buyers at £37 million pulled out and anew deal was done at £29 million |
Lord Gnome Eastpoint is completing on 8th August?
As usual comprehensive update from AEWU Interesting that offices are the primary driver of NAV growth this qtr which is a bit of a surprise. Not taking any read across to other REITs as correlation wasn't good last qtr.
Divi still only 75% covered but its been that way for sometime and despite the cautionary comment about maintaining 2p/qtr that appears in every NAV update its being maintained!.
Sounds like the mgrs are more dynamic than EPIC in getting on with acquisitions.
Headline asset mgt updates but you have to read between the lines ie 40 Queens Square, Bristol (office) - Tell us they have got a good deal for 10 years highest ever ERV oh but we have to spend a £1m on the property and give them 11mths rent free somewhat taking the edge off the income stream. |
You did not miss such an announcement as it has not fallen through! It is expected to complete in August, as is Glasgow. Upon which they will the the funds to reinvest - and subsequently reach their target of 8pps EPRA earnings.
I cannot reconcile the £8mn with what has been published today. That would amount to a hit to NAV of some 5.0pps. |
Interesting update today. Did I miss an announcement that the Eastpoint Business Park sale had fallen through, or was it never made public? The value has dropped by £8 millions. Judging from recent share price performance, somebody must have known. Private shareholders always at the back of the queue for information. |
Perhaps positive for EPIC that there's still things like this out there. But that's being very generous - they've been looking since last autumn. And still arguably better if they bought back their shares instead (something not the case at AEWU). |
You would have thought EPIC would have been after something like this |
On the numbers, looks very good - not many others are finding yields like that out there.
(Caveatad by it being Dewsbury). |
 AEW UK REIT plc (LSE: AEWU) ("AEWU" or the "Company") is pleased to announce the acquisition of the 6.04 acre Railway Station Retail Park in Dewsbury for a price of GBP4,700,000. The purchase price reflects a low capital value of only GBP82 per sq ft and provides an attractive net initial yield of 9.4%.
The park is fully let with a low average passing rent of GBP8.28 per sq ft, which the Investment Manager believes provides strong potential for rental growth. Tenants include Sports Direct, Mecca Bingo, Fieldrose Ltd, trading as KFC, and the Danish furniture retailer, Jysk.
The park occupies a prominent location on the edge of the town centre within an established retail and leisure area. Neighbouring occupiers include Sainsburys, Aldi, Matalan, Pets at Home and Iceland as well as a council operated library and sports facility. Dewsbury has a tight supply of retail warehousing stock, with no current vacancies within the town.
Commenting on the sale, Laura Elkin, Portfolio Manager of AEW UK REIT said, " This latest acquisition supports our view that the current market continues to provide investment opportunities that deliver dividend accretive income streams while also providing future potential for capital growth. Our work undertaken on the tenants of the park has shown that they trade well from the location and we expect an attractive level of income to be sustained". |
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