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Share Name Share Symbol Market Type Share ISIN Share Description
Aew Uk Reit Plc 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
  3.40 4.93% 72.40 72.00 72.60 73.00 68.80 68.80 664,656 16:35:27
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 17.8 3.7 2.4 30.2 115

Aew Uk Reit Share Discussion Threads

Showing 651 to 670 of 925 messages
Chat Pages: 37  36  35  34  33  32  31  30  29  28  27  26  Older
DateSubjectAuthorDiscuss
02/1/2020
15:51
Ironically, if we stuck fairly closely to how we are now, then a deal could be "easy". ie for the vast majority of trade deals, you take two countries with different systems, different rules, different legislation, and arduously try to come to agreement on pretty much everything. We're already 100% fitted to the EU, because we're in it. Trouble is, whole point of leaving is that we diverge, & Cummings seems pretty keen on diverging strongly. The more we create our own rules & regs, the harder the deal becomes. Anyway - I digress :)
spectoacc
02/1/2020
15:01
The end 2020 deadline though was for the original May deal which was delayed 3 times without the 2020 deadline being moved. I don't think it is about political will, it's the SIZE of the purely technical nature of everything that has to be agreed.
rcturner2
02/1/2020
14:35
One other factor here is that there is currently a strong December/Boris bounce. I have used that bounce to sell most of my shares. There is no guarantee that 2020 will be plain sailing. Remember that we leave the EU on the 31st Jan with all the disruption that will cause and during 2020 the UK government believes it can finalise a trade deal with the EU, which I think is virtually impossible.
rcturner2
02/1/2020
11:24
Even at 102p AEWU yields 7.84% with a hefty 109.3% div cover. Expect dividend increase either this or next year or both, as we get close to breaching the 90% distribution rule. With borrowing costs at 2.17%, occupancy above 96% and prospective yield above 8% what's not to like. If any REIT deserves to be trading above NAV this is it.
2wild
02/1/2020
10:04
Someone paid 102.1p for 25k. Have to say, I think they're mad - but I would say that :) Can't say the current premiums/near premiums are yet as daft as the discounts got to.
spectoacc
27/12/2019
12:01
Spec, that's a good point you make about the same teams running both funds. Tbf, cost ratios are both reasonable - even AEWL is pretty good taking into account it is so small. The only reason I thought AEWU was worth topping up is the way the whole market has been going the last few months. It may now be an advantage some of their leases are quite short.I have lost/am losing 2 of my favourite funds in MKLW and HSTN which is bitter sweet. I felt with those two I was in good hands. HSTN looks a done deal - it would be nice to get a sweetener but the money is coming back in cash which we will all have to reinvested somewhere. I don't see much at at discount to NAV which has a covered dividend (by my calculations)and doesn't involve a slug of high st retail. In any case, a well-covered dividend and sustainable strategy is more important to me than NAV. I am investing for income; I rarely sell unless there is a strategic change I don't like or an underlying income/cost issue. I could have a nibble at AEWL but it doesn't fit my profile of a steadier income generator I can forget about. I told myself I wasn't going to get involved in sub-scale funds which I might need to follow closely. However, I couldn't resist a decent block of SHED, which does look anomalously cheap given urban logistics is the hot sector, certainly if you read LMP's latest musings. If SHED can avoid getting taken out it could potentially grow to a good size.
jombaston
24/12/2019
15:46
Specto - well, I totally agree with your above. AEWU to AEWL a good switch these past few days.
skyship
24/12/2019
15:41
I disagree with you all - obviously, since I've sold :) And now the markets are closed hopefully this won't sound like a de-ramp. Last NAV 97.36p - I'll ignore the 2p XD as it earns what it pays out. Fully invested - but with an eye to growing the co through more issuance, which I'd wager is bound to happen when trading above NAV. Can't recall the retail % - about 15%? - and some of that is retail parks. But far from immune from retail headwinds, counter-balanced by a good spread of industrial & offices. But still - I'd much rather just the industrial. Divi look safe-ish except in a recession, AEWU seems surprisingly well run compared to the problems the exact same team have had at AEWL, and I'd be in again at the right price. That price is not at a premium, nor even at par. (@Jombaston re AEWL, one of my largest holdings - it's all about the price! Big discount, decent yield thanks to the discount, divi only back to being uncovered thanks to the rent-free granted after the Meridian Metals fiasco. AEWL was never meant to be a high yielder like AEWU - it was meant to be a long lease, RPI/CPI-backed investment. Ignoring Meridian, which hasn't worked out too badly but went wrong far too quickly, it's been reasonably successful. Yes, size & relative costs are an issue, and they won't be able to get bigger, but again - in the price IMO).
spectoacc
24/12/2019
15:40
2wild / Specto - do either of you mind explaining P. No. 649, because at the moment I view it as entirely bogus & totally irrelevant. Sorry, prepared to be convinced - but I suspect unlikely.
skyship
24/12/2019
15:17
I added some AEWU the other day - my main concern was putting too much in such a small fund. But the way things are going they might be able to issue next year(which I view as a good thing in a sub £250m fund). I particularly like the high exposure to industrial and the minimal reliance on high st income. Income is going up and the divi was already covered anyway. Have a look at the last results. If you want to be in commercial property with a good allocation to industrial and avoid high st retail I don't think there are many better options (can't put it all in SHED or even WHR!) AEWL is tiny - the best bet in my view would be a sale but they appear to have ruled that out. I don't think there is too much wrong with the portfolio but 3 years after launch they still haven't covered the divi. Underlying yield is lower and costs are much higher than at AEWU. It simply isn't big enough to be an effective and efficient REIT. It might work out well in the end but Its a special situation and not comparable to a sustainable REIT.
jombaston
24/12/2019
12:53
HugePants, tend to agree. The lack of volatility in its dividend coverage suggests it’s not as risky as it’s being priced. That said, it does have trouble keeping these lofty levels, but then there’s a higher degree of certainty in the National politics, so everything has been given a filip. It might stay around here. If you look at PHP with what is regarded as a gilt-edged dividend, it yields 3.8% with a NAV premium of around 40%. I thought it was expensive 9% ago, but “fixed” income comes more expensive nowadays.
chucko1
24/12/2019
12:06
Its not an obvious sell though is it? Its a conservatively geared property company with an 8% covered yield.
hugepants
24/12/2019
11:46
Nah mine was the earlier even smaller one! If I had any more left down the back of the sofa, I'd be out of those at over £1 too. I like AEWU but only at the right price.
spectoacc
24/12/2019
11:44
10K just traded @100.012p
skinny
24/12/2019
11:26
Wish I'd kept hold of more now! Sold the last few from ISA at a quid, wow. The L's look a total bargain in comparison..
spectoacc
19/12/2019
11:26
SpectoAcc AEWL added
2wild
19/12/2019
09:13
Exactly RCTurner The thicko valuers were knocking down valuations right left and centre, because a tiny fraction of the comprop market was being flogged off at a discount for technical reasons. Rent rolls, the real driver of value, were barely touched in the "financial crisis". Helped me make a shedload, so thanks to all the thicko valuers and here's to more of the same in the next recession!
eezymunny
19/12/2019
07:35
@2wild - interesting post, thanks. Can you add AEWL?
spectoacc
19/12/2019
07:27
The NAV of a propco is calculated on the best information available at the time. Clearly that valuation can change, hardly rocket science. During the last crash, open ended funds were gated and were dumping properties onto the market, which affected valuations. Once that stopped valuations went back up again.
rcturner2
18/12/2019
17:50
I do wonder how AEWU has an 109% covered 8p dividen on below 98p NAV. Yield adjusted to 100% cover basis per 100p of NAV: AEWU 8.9% RGL 6.8% EPIC 6.1% NRR 7.1% SLI 4.7% UKCM 3.6% AEWL 4.3% Obviously these do not account for levels of gearing or interest rates. Interesting all the same with AEWUs LTV towards the lower end of the scale at 25%. I tend to agree some NAVs appear dubious.
2wild
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