Aew Uk Reit Share Discussion Threads

[noiseboy] 26/5/2020 08:00

Probably JD Wetherspoon!

[spectoacc] 26/5/2020 07:32

Reads v well IMO, quite a lot in there. Eg

" Alex Short, Portfolio Manager, AEW UK REIT, commented: "The completion of
this sale will deliver to the Company an IRR in excess of 30% which,
particularly at the current time, highlights the defensive nature of the
Company's strategy. Seeking mispriced assets and those that have higher
alternative use values as well as high levels of income, has been a feature
of the strategy since IPO. As the portfolio matures these assets create
opportunities for significant value to be added and, as evidenced by the
Corby disposal, we are now seeing a number of these positions reach
fruition". "


Getting that away is impressive.

The part lower down about defaults well worth a read too:

"Unfortunately, there are a few larger
tenants who have significant financial resources and the ability to pay who
are refusing to do so or even to enter into dialogue. The Company shall be
pursuing these tenants when legally able to do so and charging the full
default interest rate allowed within their lease agreements. "


£27m cash.

[1tcm1] 12/5/2020 12:29

The Office of National Statistics published a report yesterday saying that retail assistants are amongst the most vulnerable to catching the Coronavirus. Is it any wonder when thugs like SpectoAcc refuse to obey common sense rules and vent their spittled aggression on these people who are amongst the most poorly paid in the UK? He then boasts about it on ADVFN.

Of course, by now Spectoacc is beginning to realise what poverty is about. He has lost enormous sums of money (for him) on some spectacularly inept choices of investments. He's still hanging on to them, and buying more too, waiting for the next wave to come along and wipe him out completely.

[spectoacc] 12/5/2020 12:14

Loads AT'd at 65.4p off the bid at 11.46am, and 30k more AT'd at 65.4p at 12.11 - MMs diddling as per usual.

[lowtrawler] 12/5/2020 12:13

Finally went through at bang on 64p. Shame, as it was a 1.4p discount to the published bid price.

[lowtrawler] 12/5/2020 12:05

I've had a limit sell on at 64p today which is not executing. 46000 shares. Tried a fill or kill but that also failed. Can't get a firm price to sell and so need to put on a limit. The current bid price is over 65p. Not had similar problems in the past. Are we so thinly traded that the MMs won't pay over 1p less than the bid for 46000?

[badtime] 11/5/2020 12:01

I was thinking more laughable ..some seem to have far too much time on their hands

[skinny] 11/5/2020 10:40

A worrying analogy!

[humphbumph] 11/5/2020 10:33

Yes, people like SpectoAcc are assuming that this latest small upwards correction validates their previous nonsense investments. They believe they are Masters of the Universe once again. I'm very afraid their day of reckoning is not so far away.

PS In truth they've already had a massive day of reckoning, but, unbelievably, they have chosen to ignore it. They're already in the lifeboats: the next wave, and it doesn't have to be a big one, will be final.

[rcturner2] 11/5/2020 09:13

We have hit the iceberg and the boat is sinking. At the moment people are still trying to carry on as if we aren't about to enter the icy water.

[rcturner2] 11/5/2020 09:10

Skyship, I said "could" go under.

I'm 90% cash now, I have 3 shares in total, the only one which I think is a buy is Phoenix, which I got into at 490p and is now over 600p.

I don't think people have fully taken in what is about to happen in the next 6 to 12 months. It will be a complete and total economic and financial meltdown.

[the air marshall] 11/5/2020 09:07

None is the answer to that.

[skyship] 11/5/2020 09:00

RCT - Re yr 866 above - personally I think you've got that wrong on two counts:

1. Values are not going to fall as far as you believe - already many indications of that

2. No lender wants to repossess; especially when propcos cashflow easily covers debt cost

Still, everyone has to play their own game with the stock-market; so a question:

Where would you now risk buying? Which stocks or which sector(s)?

[chuckol] 11/5/2020 08:38

I think you may be whistling in the dark, Specto. RCT is right. I sympathise with you because you've already taken a huge hit here(and in another dozen or so similar shares). I mean wouldn't it be better if you confronted the sad fact that a drop from over a 100p to 60p odd is a massive blow to your portfolio, such as it is now.

I think, for the time being at least, you should take that temp job as a Queue Marshall at Morrisons.

[spectoacc] 11/5/2020 08:26

That gave me a good laugh!

INTU, HMSO, CAL etc - sure. Over-indebted already, wrong sector, Covid-19 just accelerating the trends we had already.

But eg BLND, LAND, GPOR, DLN, SHB - really?

Industrial, Big Box, last mile? Look at LMP's successful fundraise last week. SHED, WHR..

The smaller REITs like AEWU all look fine to me - low gearing compared to last crisis, banks who wouldn't repo anyway, debt often at the asset not the company level (the slightly different RGL good at that). Many with cash to invest/bolster them through Covid (AEWU's £7m). There's even been the occasional profitable disposal since Covid began.

High St retail, where the bloodbath tap will run even faster, a very different beast from eg offices, last mile, industrial.

[rcturner2] 11/5/2020 07:33

I'm of the opinion that all listed propcos could go under.

They are basically screwed as their NAV will drop probably by as much as 75% and this will put them into the hands of their lenders.

I would not want to have any involvement in commercial property until this is over.

[chucko1] 30/4/2020 16:25

I should add that is volatile market conditions, ex-div date often offers lots of freebies in many of the REITs. And in these market conditions, you have to trade it like a madman. That’s why I say that cash is worth 6% per annum.

[chucko1] 30/4/2020 16:22

Well, 2.4 hours is a long time in these markets!! I took profits on 5% of my holding (at 63.87 - could not resist) but only because I bought back some RGL that keeps oscillating with some amplitude around 80. Crazy and random stuff out there, but always with a mind that AEWU has tremendous value. RGL a little riskier with higher LTV and excitable management.

I suppose it keeps me off the streets - which some would argue is beneficial for many reasons.

[spectoacc] 30/4/2020 15:37

Well done @Skyship, can't go bust taking a profit.

I'm with @chucko1 - pleasantly surprised by the rise into XD being largely held, and looking for a fair bit higher from here. Can as easily go down as up, but a scenario where lock-down eases within weeks, & Covid backs off until a resurgence in winter. Not sure I'd still want to be holding AEWU then, but I'd have had a couple of divis ;)

AEWU too small to interest most, but interesting to see how few decent divi payers are left for funds to buy. Shell not remotely a surprise, BP next, & loads gone already. Few will be restoring divis until balance sheets are rebuilt/Covid genuinely gone. [Edit - just remembered SBRY pulling theirs this morning, a surprise. Presumably to try to keen their £450m of business rates relief.]

[skyship] 30/4/2020 14:12

chucko1 - I don't disagree with that; it's just that I'm quite deliberately playing the sector for small turns up to 10%; and have now done so in AIRE, AEWU, BCPT, EPIC, MCKS, RGL & SREI...

[chucko1] 30/4/2020 13:54

Not too tempted myself. With dividends left, right and centre being coshed, AEWU becomes even more desirable with the combination of its strong management and likelihood of keeping more than 50% of its dividend intact.

Some of my favourites are trading on very wide bid offers, so taking any profits is not too easy. I can see the temptation here, but I simply see too much value.

[skyship] 30/4/2020 13:41

Taken the profit on a few at 62.9pXD, ie equivalent to 64.9p...

[spectoacc] 28/4/2020 15:37

AEWU has the advantage of being relatively liquid - I couldn't sell out of AIRE ahead of the falls, absolutely no size. And that juicy £7m, what a brilliantly accidentally timed gift.

2021 - dunno, later on maybe. There's going to be a hell of a lot to work through - Covid may or may not be behind us in 12 months. Govnts may or may not cope with the massively higher debt-to-GDP. Inflation may or may not come into play (it will!). Depression, recession, but what sort of recovery? How long will the high unemployment last?

Comm prop always suffers in downturns - on the plus side, shouldn't be much supply getting built.

Agree re wealth managers - and anyone stuck in their Unit Trust property "investments", the word used loosely. How long before they see anything back on those I wonder. If they need to reallocate/raise, selling the IT versions the only option.

Variously trimmed comm prop due to bearish view on Covid but cheap is cheap.

[chucko1] 28/4/2020 15:17

Ps. I bought a few more of this one.