Aew Uk Reit Share Discussion Threads

[thetrotsky] 31/8/2021 15:15

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 17:45

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 16:05

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 16:43

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 15:28

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 15:21

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 15:15

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 13:49

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 12:32

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 16:48

Is this it :-

[bg23] 19/8/2021 16:43

do you have a link for the investor presentation?

[chucko1] 19/8/2021 16:19

She is generally a class act.

I own very few at present.

[catch007] 19/8/2021 16:11

Excellent presentation Alex available on youtube.

[badtime] 05/8/2021 12:39

Almost recovered the pre div price

[badtime] 29/7/2021 22:14

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

[skinny] 29/7/2021 13:13

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

[chucko1] 29/7/2021 13:11

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 13:02

Hmmm..well that didn't last long

[lord gnome] 26/7/2021 19:34

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 17:32

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

[badtime] 26/7/2021 17:14

Onward we go

[raptor_fund] 22/7/2021 09:27

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 22:38

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

[apollocreed1] 21/7/2021 17:58

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.