Aew Uk Reit Share Discussion Threads

[chucko1] 19/8/2021 15:19

She is generally a class act.

I own very few at present.

[catch007] 19/8/2021 15:11

Excellent presentation Alex available on youtube.

[badtime] 05/8/2021 11:39

Almost recovered the pre div price

[badtime] 29/7/2021 21:14

Doh...that's the second div I've missed today

[skinny] 29/7/2021 12:13

On edit - you beat me to it. :-)

[chucko1] 29/7/2021 12:11

2p ex-div today. And now bounced a penny for the day's lows. So effectively 103p vs. 104-5p the past three days.

[badtime] 29/7/2021 12:02

Hmmm..well that didn't last long

[lord gnome] 26/7/2021 18:34

Yes, Skinny. This has been on a good run and the discount to nav has all but evaporated. Where to next?

[skinny] 26/7/2021 16:32

New all time high @106p with decent volume since the recent update.

[badtime] 26/7/2021 16:14

Onward we go

[raptor_fund] 22/7/2021 08:27

There certainly a risk that retail falls further. All of my in person shopping experiences recently have sucked vs online.That said there will always be an element of discovery or experience that isn't present in online, and it's still cheaper to distribute many bulk items by store.

For all of these buildings you can also think about their alternative uses, (I think there's a reason they quoted £ per acre on their last retail warehouse purchase). But some retail (and office) is difficult to adapt because the footplate doesn't have much natural light.

[brwo349] 21/7/2021 21:38

Get real. Retail has been falling heavily for years but you still think it has 50% further to fall!?

[apollocreed1] 21/7/2021 16:58

I can't understand why they bought High Street retail in Bristol. That kind of retail is finished forever.

Tritax Big Box director was on a recent AJ Bell podcast saying that industrial and warehouse supply is so tight that he says a bull market continuing for the next few years, so the industrial portion of AEWU is a great sector to be in, but I would mark down their high street retail and office holdings by 50% so this does need to trade on a discount to be worth putting more money into.

[chucko1] 21/7/2021 13:47

LG - clearly the person marking you down was not a buyer when the opportunity was there!

Our Alex is playing it very well with this fund. As you know, I always felt the doubters had an imprecise grip on the true risk/reward here.

[spectoacc] 21/7/2021 10:15

Am sure we will, and the housing/property market, which is due to slow pretty fast, pretty soon.

But there's a real lack of industrial, coupled with a one-off shift that's happened. Some of it EU, some of it Covid, some of it connected-to-Covid online shopping, but much of it supply chain. Just In Time is over, now it's Just In Case. A small rise in industrial/logistics/whatever demand is fueling a big price shift. People can only expand on their existing sites so far, and until there's a building boom, values are going up IMO.

But for all that, that's a big rise from AEWU.

(@brwo349 - dead right, happily sat on SLI too :) )

[nickrl] 21/7/2021 10:10

Specto I do wonder though as furlough, nil business rates and other related Covid largesse unwinds we will see a drop off in demand and this may expose some froth in industrials/logistics although looking too far ahead doesn't help me sometimes!

[brwo349] 21/7/2021 10:08

I'm buying sli which is 50% industrial

[spectoacc] 21/7/2021 10:01

Wow. Expecting NAV increases across the board (you wouldn't believe the prices at the auction I'm watching today) but AEWU have knocked it out the park.

"....Largely driven by the performance of the industrial assets in the portfolio which saw a like-for-like increase of
10.62% for the quarter and make up 57% of the portfolio".


Industrial is & continues to be gangbusters. BREI, SREI, and more all exposed.

[nickrl] 21/7/2021 09:58

NAV update out

Highlights



"Interim dividend of 2.00 pence per share for the three months ended 30 June 2021, in line with the targeted annual dividend of 8.00 pence per share.
EPRA earnings per share ("EPRA EPS") for the quarter of 2.14 pence (31 March 2021 quarter: 1.10 pence).
NAV of £169.69 million or 107.11 pence per share as at 30 June 2021 (31 March 2021: £157.08 million or 99.15 pence per share).
NAV total return of 10.04% for the quarter (31 March 2021 quarter: 5.51%).
Acquisitions of two properties: Arrow Point Retail Park, Shrewsbury, for £8.35 million and 15-33 Union Street, Bristol, for £10.19 million.
Successful outcome of legal action against two well-funded national tenants to recover unpaid rent. All rent arrears due from these tenants have since been collected.
The Company remains conservatively geared with a loan to NAV ratio of 29.76% (31 March 2021: 25.15%). As at 30 June 2021, the Company had a cash balance of £8.43 million and £8.89 million of its loan facility available to draw up to the maximum 35% Loan to NAV at drawdown.
For the rental quarter commencing on 24 June 2021, 88% of rent has been collected or is expected to be received under monthly payment plans prior to quarter end. The remainder of rents owed will continue to be pursued"

Umm NAV well up beyond my expectations and made two bold acquisitions in teh retail sector

"We are now seeing more attractive investment opportunities coming to the market and the Company made two acquisitions during the quarter for a combined gross purchase price of £18.54 million, drawing £11.00 million of its loan facility. The first, Arrow Point Retail Park in Shrewsbury, was acquired in May for £8.35 million and is a fully-let, purpose-built retail park prominently located on a busy commercial estate, providing a net initial yield of 8.7%. The second, 15-33 Union Street, Bristol, is a retail site located on a busy pedestrian thoroughfare in Bristol city centre and provides a net initial yield of 8.0%. Both of these assets provide opportunity for value growth in the medium to long term, and also strong and stable income streams from their tenancy profiles. While we continue to take a cautious approach towards the retail sector, judging each site on its specific merits, these two acquisitions are an excellent fit for the portfolio. The retail sector now makes up 18% of the portfolio valuation."

Can see this lot going for a share placing soon

[stemis] 21/7/2021 09:56

Good update. NAV jumped from 99.15p to 107.11p in the quarter. Dividend yield at 101p is 7.9% and should be well covered after recent acquisitions.

[chucko1] 16/7/2021 08:02

Seems that over the past 6 years, you have earned 8.95% annualised by reinvesting dividends in the share. Compare this with the 8.24% annual that 8.00% per annum (2.00% per quarter) paid quarterly represents.

If you had not reinvested the dividends in the share, you would have had to have reinvested them at just over 14% to achieve the same overall return. Much of this will be a result of investing any dividend near to April to July 2020.

If you had saved your dividends and redeployed an equivalent cash amount all at once in that low period, the return would be far higher still. Which is effectively what I think quite a few people here did. Not all, as some decided to be "prudent" and risk averse. And poor.

[spectoacc] 15/7/2021 15:27

Amazed, well done AEWU.

If you compound that 8p pa - reinvest the 2p's every qtr - the performance will have been fantastic, Much of the reinvestment will have happened at much lower prices.

[1tx] 15/7/2021 15:23

Wow 100p.....AEWU are now back at the level they were floated in 2015!Thankfully I bought them last year at a rather lower figure;actually I suppose on an income basis the company has not been a total disaster for those who bought at float and had the nerve to hold on & a fair number of REITs have performed much worse;its "sister" company AIRE for example but I guess with a few exceptions(eg London Metric) in the long term very few REITS are going to provide much in the way of capital growth if you buy at float or book NAV.All about income and the ability to maintain it.I still hold but going forward I shall have to be content with the above average income.

[brucie5] 12/7/2021 10:13

Yes, AEWU and RGL excellent income holds, which could show some useful capital appreciation too, as well managed REITs regain a bit of investor confidence. I hold both.