Aew Uk Reit Share Discussion Threads

[playful] 21/10/2021 06:05

Highlights

-- Interim dividend of 2.00 pence per share for the three months ended 30 September 2021, in line with thetargeted annual dividend of 8.00 pence per share.

-- NAV of GBP174.29 million or 110.01 pence per share as at 30 September 2021 (30 June 2021: GBP169.69 millionor 107.11 pence per share).

-- NAV total return of 4.58% for the quarter (30 June 2021 quarter: 10.04%).

-- EPRA earnings per share ("EPRA EPS") for the quarter of 1.30 pence (30 June 2021 quarter: 2.14 pence).

-- Sales of Langthwaite Industrial Estate, South Kirkby for GBP10.84 million and Wella Warehouse, Basingstokefor GBP5.86 million. The sales prices achieved were 1.9x and 1.7x the purchase prices respectively.

-- The Company remains conservatively geared with a loan to NAV ratio of 28.97% (30 June 2021: 29.76%). Atthe quarter end, the Company had a cash balance of GBP15.16 million and GBP9.50 million of its loan facility availableto draw up to the maximum 35% Loan to NAV at drawdown. Following completion of the sale of Wella Warehouse,Basingstoke, on 15 October 2021, the Company's cash balance is GBP20.06 million, all else equal.

-- For the rental quarter commencing on 29 September 2021, 89% of rent has been collected or is expected tobe received under monthly payment plans prior to quarter end. The remainder of rents owed will continue to bepursued.

[2wild] 20/10/2021 21:54

Nice 6% rise over last 2 weeks. 30th September NAV and trading update due in next few days. Expect nav will be around 112p.

[spectoacc] 10/9/2021 15:18

"AEW UK REIT plc

Dividend Payment - PID tax deductions

Further to the announcement on 21 July 2021, AEW UK REIT plc ("AEWU" or "the Company") made dividend payments on 31 August 2021 to shareholders on the register as at 30 July 2021. The dividend of 2.00 pence per share was designated 1.00 pence per share as an interim property income distribution ("PID") and 1.00 pence per share as an interim ordinary dividend ("non-PID").

The Company has been advised by its registrar, Link Group (the 'Registrar'), that some investors, who had previously elected to receive PID distributions gross, have received the distribution net of 20% withholding tax. Accordingly, the Registrar will be contacting all impacted investors with details of the additional distribution to be paid to rectify this issue."

[someuwin] 10/9/2021 10:41

Good article in this week's Shares mag on high yielding investments.

[ryesloan] 01/9/2021 13:07

If you mean you are a non U.K. resident for tax purposes then it will be paid net of the 20% withholding tax.If your country has a double taxation treaty AND the domestic withholding tax rate is lower then you can reclaim the difference with HMRC (good luck on that!)

[ryesloan] 01/9/2021 13:02

They have indeed. All very odd but good to see it resolved quickly so can't complain about that.

[deanowls] 01/9/2021 12:11

Anyone know whether that 20% should be deducted if you are offshore?

[badtime] 01/9/2021 12:03

Youinvest have now amended the dividend payment to the full amount

[eezymunny] 31/8/2021 20:45

Mine was paid gross at Hargreaves...and net at C/Stanley.

Doh!

[thetrotsky] 31/8/2021 17:31

I queried the PID being paid net with ii and they've now advised "... unfortunately, the PID was received from the registrar net rather than gross for our ISA and SIPP holders. As we have a mandate in place with the registrar to receive these payments gross, these payments should have been paid to us gross. However, on this occasion it appears that AEWU has changed registrar and the instruction has not been carried forward to the new registrar. For this PID payment the 20% tax will be reclaimed on your behalf by our tax team and applied to your account upon receipt". I guess the same problem has occurred at other brokers as well (I'm aware that the dividend was paid net to both AJ Bell and ii, in addition to YOUINVEST referred above). The broker should automatically seek to recover the tax but you may want to flag the above issue to them so that future dividends aren't affected (clearly ii hadn't noticed the issue until I flagged it to them; indeed I had to point out that the PID was being made into my ISA and that previous PIDs hadn't had any tax deducted before they went and investigated properly)

[lord gnome] 31/8/2021 17:27

Snap. I am 20% missing on half of my dividend. Unusual. ii always pays gross. Never mind, the missing cash will turn up in my ISA eventually.

[badtime] 31/8/2021 16:42

First time YOUINVEST have not paid the gross amount into my ISA

[thetrotsky] 31/8/2021 14:15

Anybody know why some property income distributions (PIDs) are received gross by ISAs and SIPPs whilst others are recevied net? The dividend paid by AEWU on 28/05/21 was declared a PID but I received the dividend gross whereas half today's dividend was declared a PID and half the dividend has been paid net accordingly. I appreciate that the the tax credit will be recovered by the ISA/SIPP provider but am left somewhat confused and complexed as to why some PIDs are having tax deducted and others not; there's no consistency. It's not just AEWU; I have PIDs from other REITs that are being paid gross as well.

[stemis] 24/8/2021 16:45

I didn't claim it was 'original', I was merely explaining why AEWU selling properties to recognise valuation increases generated by property management is hardly unexpected...

[trcml] 24/8/2021 15:05

This underlying strategy is not original. Shrewd professional private investors have been doing the same for years. The strategy only works because institutional buyers are lazy and would rather buy a ready-made income stream than create it themselves.

[stemis] 23/8/2021 15:43

The underlying strategy of AEWU is to exploit pricing inefficiencies by buying short lease assets (or on leases with imminent break clauses) on high yield, re-developing them (by negotiating lease extensions or reletting them) and then selling them on lower yields. That's what they are doing...

[chucko1] 23/8/2021 14:28

She has always been accused of selling income producing assets (they all are!). So far, she has made good on her cash flow forecasts of January 2021 to maintain the 8p dividend (no matter the various doubts expressed on this board).

Let management manage! The risk in doing so has been rewarded exceptionally, in this case at least.

Of course, there are those who think "risk" is a dirty word. I am sure they can locate a Gilt ETF if they wish.

[spectoacc] 23/8/2021 14:21

Feels like they're going for scale in Bristol, in similar way to eg SHB in London. I'd bet a lot more on AEWU in Bristol than eg RLE in Brum :)

[nickrl] 23/8/2021 14:15

Selling income producing assets and buying into too much retail could be moving the risk profile and the ability to cover the dividend but girl done good so far so have to keep the faith.

[spectoacc] 23/8/2021 12:49

Interesting if so, and yet more proof of Ms Short's great property trading, but surprised not trumpeting that big a premium in the RNS.

Industrial still going gangbusters. Hope the Bristol High St they seem to be buying does as well - in fairness you'd not bet against Alex.

[stemis] 23/8/2021 11:32

Another sale. Assuming Wella Warehouse is Cranbourne House, the two sets of properties were acquired for £9.2m and were valued in the accounts at £12.5 - 15m, so a sale for £16.7m is a decent outcome. Might add 1-3p to NAV.

[skinny] 19/8/2021 15:48

Is this it :-

[bg23] 19/8/2021 15:43

do you have a link for the investor presentation?