Aew Uk Reit Share Discussion Threads

[nimbo1] 14/5/2019 18:21

out of interest I bought some SRE today. If you want to investigate further this video is the best place to start.

hxxps://www.piworld.co.uk/2019/04/24/sirius-real-estate-sre-investor-presentation-at-sharesoc-10th-april-2019/

Surprisingly it comes out 8th in the IC large cap quality screen behind GAW, Spirax, Mony, Paypoint, MJ Gleeson, Diageo and Unilever...so they must be doing something right.

[nimbo1] 14/5/2019 09:25

Many thanks for all the ideas

[spectoacc] 10/5/2019 14:34

Agreed re seller.

Last NAV c.98.6p, I know 2p divi to come off BUT the divi's covered (just under last time, due to costs of the silly prospectus), so HAV won't be -2p.

Thinking about the prospectus - maybe before long they'll be able to increase the size of the trust after all.

[chucko1] 10/5/2019 14:01

95.60 bid. If the seller had further interest, surely they would have been in the market by now. This is 8% above where they were selling just 2 or 3 weeks ago.

For us, it’s pretty well NAV flat now.

[skinny] 09/5/2019 17:27

I also have ESP! :-(

[alanji] 09/5/2019 17:01

Nimbo have a look at this one

[spectoacc] 09/5/2019 15:56

Ha ha ESP, oh yes - I've got those too :) Also bought too soon, when they finally went to a discount, and had to avg out of trouble. Still sat on a few and happy with them for the moment.

[chucko1] 09/5/2019 15:52

As some will know, I hold many of the same REITs as SpectoAcc, with NRR being a scolded gem.

The only one that has caused me trouble is ESP. but I traded that a lot as it was at one stage at NAV + 13%. Is now NAV - 13%. Did not get badly caught but tied up a lot of capital for a while during its recovery. AEWL is another, but I had tiny positions and I see it as a speculative one now. Bought a few just an hour ago.

[chucko1] 09/5/2019 15:47

Nimbo1, what I believe is driving this is that there is a growing realisation that global interest rates can remain low for decades. Not just months or years.

That was the case in previous eras, including in the 20th century and for very long periods even further back. It’s just that no one has any direct experience of this apart from those close to Japan. They’ve been there for 25 years and counting, but we all thought that this was a problem confined to them alone following the absurd asset bubble of the late 80s and early 90s (Nikkei average peak P/E of 72 and value of Imperial Palace real estate greater than that of all of California [I still find that difficult to believe]).

We are at 2.44% UST10yr in the US - everyone was calling for 3.50% a few months back. So a flat yield curve and some now calling for a rate cut if no US/China trade deal. These REITs are likely good for 7.5% per annum with a 0.75% base rate. Low volatility to boot. I would only sell if there was a compelling alternative. Oh, like LYFT!?

[spectoacc] 09/5/2019 15:45

@Nimbo1 - I'm not on a comm prop BB, but my current holdings are: AEWU, AEWL (for corp action/manager change), SHED, RLE, WHR, and probably a few more I've not remembered! Recently sold RGL but it's still a decent one IMO. Also recently sold BBOX.

Am keen to be with good managers, in the right sub-sector, with not too much gearing, a decent yield (to keep them honest), and trading below NAV. Ideally active management too. Not over-keen on offices, but do like industrial. SHED is possibly my favourite but there's a lower yield and it's sometimes very illiquid.

NRR another I like & hold, for the Woodford selling pressure and the very active management (and divi!). More pubco than comm prop tho.

[nimbo1] 09/5/2019 15:32

Out of interest I believe I was wrong to sell these. I may buy back - if I bought back today I'd pay the same price I sold at without the divi! Daft.

Anyway ref the investment trust property sector as a whole it feels to me there has been a change of heart towards them. Suddenly investors see buying solid high income streams at a discount as a good idea. Funny that :).

I see Commercial property (Regional) as one of the only asset class's that hasn't enjoyed a huge increase in value...and you can use the divi's to pay your bills.

Spent and anyone else reading do you have any other ideas ref investment trusts in the sector? I will do some further research and share it here if I find anything of interest...or are you part of a commercial property adorn board?

[spectoacc] 09/5/2019 15:02

Showing two of them as buys, that's how good the quote was.

[chucko1] 09/5/2019 14:21

I had no idea you could do that on ADVFN! Thx.

[chucko1] 09/5/2019 14:14

What prices did they get on the 3x25?

[spectoacc] 09/5/2019 14:11

And it possibly only ticked down at all because some punter shoved out 3x25k this morning, at such favourable quotes on XD that he couldn't resist ;)

Seller does seem done, even if they could still return some time.

[chucko1] 09/5/2019 14:09

Yes, last I saw was 94.25 bid which is 96.25 in old money. That’s 0.5p more than yesterday. It also appears to be creeping slightly higher now.

[a0002577] 09/5/2019 13:39

And the drop today was less than the dividend which augurs well!

[spectoacc] 08/5/2019 15:59

Perfectly possible - still waiting for an RNS for last selling mind!

[chucko1] 08/5/2019 15:54

The previous seller would likely have been active again at this price. Perhaps they were reducing a position rather than selling all?

[spectoacc] 08/5/2019 15:39

Nice little rise into XD no bad thing. Should know soon whether there's still a seller & they're waiting until after XD!

[bhafcseagull] 08/5/2019 11:41

I have also been overweight in my portfolio with AEWU so although its a lovely divi it was playing on my mind. I feel happier now i have sold 3/5ths of my holding and spread that around a little. I intend to now put AEWU in the cupboard and forget about it.

[nimbo1] 08/5/2019 10:49

RCT I guess it depends on ones portfolio approach...I put 30% of all my investment funds into the reits during December because what I attempt to do is identify where I believe things look compelling and go with conviction - after all its about how much you make not how you do it ; ). Aewu 90p, regional reit @95 and WHR 97 ish. So for me selling was more an exercise in risk control and recognising its been a good run. Im already missing the income in my spreadsheet though so was probably the wrong decision.

[chucko1] 08/5/2019 08:37

RCT, I largely agree. But at an 8-9% yield, versus basically 1% risk free(ish) rate, the cost of selling at a premium (but the stock remaining at a premium for an extended period) could turn out to be high. Unless there are compelling alternatives.

But tomorrow may look totally different!!

[rcturner2] 08/5/2019 08:17

I am surprised how many people seem to buy and sell these funds on a trading basis. They are boring income funds, once in at a good price I will just sit here and take my dividend. I would only sell if the funds moved to a premium.