ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

AEWU Aew Uk Reit Plc

85.80
0.10 (0.12%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
  0.10 0.12% 85.80 85.60 86.00 87.70 85.40 87.00 1,372,637 16:35:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 20.72M -11.33M -0.0715 -12.03 136.25M
Aew Uk Reit Plc is listed in the Real Estate Investment Trust sector of the London Stock Exchange with ticker AEWU. The last closing price for Aew Uk Reit was 85.70p. Over the last year, Aew Uk Reit shares have traded in a share price range of 82.50p to 104.20p.

Aew Uk Reit currently has 158,424,746 shares in issue. The market capitalisation of Aew Uk Reit is £136.25 million. Aew Uk Reit has a price to earnings ratio (PE ratio) of -12.03.

Aew Uk Reit Share Discussion Threads

Showing 76 to 99 of 1550 messages
Chat Pages: Latest  14  13  12  11  10  9  8  7  6  5  4  3  Older
DateSubjectAuthorDiscuss
25/8/2017
07:29
NAV Update and Dividend Declaration -

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 -
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
10/7/2017
18:05
I looked at the Annual Report from today.
The figures for end April 2017 are share price 99.56p, NAV 95.98p, dividend 8p/yr, PBT 5.04p/share.
The NAV has dropped from 99.03p to 95.98p, they are paying out 8p per year, and the profit before tax is 5.04p.
How can the situation be sustainable in the long term if you pay out more than you earn, and you don't have a capital gain to make up the difference, in fact there was a fall in NAV?

tidcombe
31/5/2017
08:43
Thanks @boadicia, plenty of discussion of it above, with a little more on the new thread:
spectoacc
30/5/2017
17:34
Re: Fund-raising
The management group is currently in the midst of a large placing for AEWL (see below) which I would expect them to want to get away successfully before embarking on further fund raising for AEWU. The IPO closes tomorrow at 2pm (or 12.30pm, depending where one reads.)

AEW UK Long Lease REIT plc - IPO Prospectus


The objectives of the new fund are longer term and suggest a lower running yield than AEWU.

boadicea
30/5/2017
07:02
Missed that about possibly raising funds - though selling out now misses ongoing 2p qtly divis until they get round to the fundraising. Going to sell a few and hope to buy back lower.
spectoacc
30/5/2017
06:51
Shares trading at 104p and at an 8% premium to NAV. With a large placing @ c100p likely to be in the offing, looks to be an early sell this morning...
skyship
30/5/2017
06:31
I note that there is a fundraising on the cards...

NAV Update and Dividend Declaration -

"Going forward, we have always stated our desire 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
30/5/2017
06:18
AEWU update reads well this morning.
spectoacc
28/5/2017
14:50
Thanks Spoole, Specto and Jonwig. There is a plug for it in the Mail On Sunday too which usually generates some interest so I will have a punt. I really appreciate the feedback. The yield is tempting in this low rate environment
mach100
25/5/2017
12:53
Here's my thread for AEWL (the long-lease one):



I've applied for quite a lot, mainly for the (promised) safety, but also because it's quite similar to LXI, which will pay 5% on cost, indexed, whilst AEWL has 5.5% once fully invested. LXI is trading at 104 - I'd expect AEWL to get a decent premium, too.

jonwig
25/5/2017
12:42
Thanks @spoole5, the small bonus with HL has persuaded me too. AEWU going well, so feel like AEW worth a few quid.
spectoacc
23/5/2017
22:21
Applied for some for the isa with hl. Giving bonus shares worth an extra 0.75%. Have no reits at the moment and the sectors they are investing in look interesting and potentially more resilient to a downturn.
spoole5
23/5/2017
22:04
Skyship and others, any thoughts on the AEW long lease IPO? I see some contributions above and feel they are fair. This one has performed pretty well in terms of returns but I wonder can they repeat the trick. The divi is useful even if not as good as this share. It might be so attractive either with rising inflation. One to ponder for me.
mach100
14/5/2017
11:15
An update on the comparative performances of the high yielding regional players.

I’ve added in two other players – The Birmingham specialist Real Estate Investors (61p; 4.3% Yield; 7.9% NAV discount; £113m MCap) & the other small regional propco Palace Capital (360p; 5.0% Yield; 16.3% NAV discount; £89m MCap). This last is my short-term tip for a possible/likely 10% rise before or upon the Finals on 6th June – I’ve taken a position @ an average of c355p.

Feb’17 Investor Presentation:


May’17 Broker Research Note:



free stock charts from uk.advfn.com

skyship
12/5/2017
09:54
Good. Caused them some problems at the time of Brexit, when the valuation of the fund moved from offer to bid. Not sure why they were in it in the first place.
spectoacc
12/5/2017
09:34
AEW UK REIT sells AEW UK Core Property Fund holding -

AEW UK REIT plc (LSE: AEWU) (the "Company"), which owns a diversified portfolio of 31 regional UK commercial property assets, announces the sale of its remaining units in the AEW UK Core Property Fund (the "Core Fund") for total proceeds of £7.62 million.

The Company has held an ownership in the Core Fund since IPO in May 2015, originally investing £9.75 million for the purpose of expediting its investment period. Having disposed of c 21% of the Company's holding in February 2017, the remaining units have now been sold at a price in excess of the Core Fund's latest published NAV, with the resulting equity to be invested directly into UK real estate assets in line with the Company's strategy.

Commenting on the transaction, Alex Short, the Company's Portfolio Manager at AEW UK Investment Management LLP, said, "As previously stated, it has always been our intention to exit from the Core Fund at the right time and the sale now allows us to focus on investment in direct assets which fulfil the Company's investment strategy. We have a healthy pipeline of potential acquisitions and expect to make further announcements very shortly as we invest the proceeds from the Core Fund sale."

speedsgh
11/5/2017
19:27
Would like to see the costs - the yield feels like it could/should be higher - the gearing, and also:

"..leisure, healthcare, education, hotels, student accommodation, supported living and automotive.."

aren't particularly under-represented IMO - student accommodation is overdone if anything.

But otherwise agree - worth a look, subject to the fact I've personally a little too much property exposure already.

spectoacc
11/5/2017
17:20
@Spec - yes, AEW UK Long Lease looks like possible candidate for ballast in a portfolio.

Intention to Float -

AEW UK Long Lease REIT will invest in a diverse range of sectors that are underrepresented in institutional portfolios including leisure, healthcare, education, hotels, student accommodation, supported living and automotive.

These sectors are more closely aligned with long term trends, such as demographics, technology and social trends, and expected GDP growth.

Focus will be to construct a portfolio with a weighted average unexpired lease term in excess of 18 years and inflation linkage on at least 85% of the portfolio's gross passing rent, each at the time of investment.

Diversified across geographies, properties and tenants.

Key focus on capital preservation through detailed analysis and understanding of the real estate fundamentals, ensuring there is the potential for higher alternative use value and capital recovery.

Targeting an annual dividend of 5.5 pence per Share paid quarterly, once fully invested and levered, with an ambition to grow in future years in line with inflation.1

Strong current pipeline of investment opportunities means the Company expects to substantially invest the net proceeds of the IPO within nine months of listing.

The Investment Manager has an experienced team with a proven track record in both long lease funds and REITs with an established pipeline of origination for long lease assets. They form part of AEW Global, one of the world's largest real estate managers, with more than €60 billion of assets under management.

speedsgh
11/5/2017
15:19
@red - tbh it's not rates going up that bothers me re gearing, it's NAV going down (covenants being tested). RGL just seems a bit punchy to me, should we have, say, a Brexit-induced recession around the corner.

AEWU floating a "long term leases" IT too I see.

spectoacc
11/5/2017
14:00
Lord Gnome - RGL LTV is twice the size though which is a little worrying when rates go up.
red army
Chat Pages: Latest  14  13  12  11  10  9  8  7  6  5  4  3  Older

Your Recent History

Delayed Upgrade Clock