Aew Uk Reit Share Discussion Threads

[skyship] 20/11/2021 12:33

petewy - thnx for that - certainly a very detailed piece of research.

[petewy] 20/11/2021 11:16

Expect some movement up because IC's Simon Thompson has a huge piece on AEW in the Alpha section (Pay extra) of the IC this weekend.

Snippet it has graphs etc.
The investment risk looks skewed to the upside for investors taking a 12-month view on the high yielding shares ofAEW UK Reit, a real-estateinvestment trust (Reit) that raised £100m at 100p a share when it listed on the London Stock Exchange in May 2015.
That’s because 50 per cent of the fund’s £218m investment portfolio of high yielding commercial property is in the industrial sector, a hot segment of the market that has been attracting significant demand from both tenants and investors alike. In 2020, over 50m sq ft of warehouse space was let, or 12.7m sq ft ahead of the previous record set in 2016.
There was no let up in the first half of this year either with take-up rates 82 per cent above their long-term average, according to Savills. In the third quarter, property consultancy Colliers estimates that 11m sq ft of industrial warehouse space has been taken up by tenants to lift this year’s running total to 33m sq ft, the second strongest first to third quarter on record. Such is the demand that Colliers estimate that only 20m sq ft of vacant space was available at the end
of the third quarter, the lowest level ever recorded in the sector, and 38 per cent lower than 12 months ago

[nickrl] 17/11/2021 19:03

Half year results out today and can't fault the detail they provide on the portfolio top of the class. As they say themselves divi isn't covered and would suggest a few clouds on the horizon may keep it that way for a while but the buy low sell high returns more than compensate currently. They also have a unbelievable interest rate currently of 1.47%.

Looks like unloading Bath St Glasgow is going to cost us a few quid unless ive misinterpreted this statement.

"Regarding achieving vacant possession, only one tenant remains in the building having recently exchanged on the variation of W.A. Fairhurst's lease, bringing their occupation to an end on 31 January 2022, in exchange for an £800,000 surrender premium, plus nine months' rent free from 28 February 2021 to 1 December 2021"

[nickrl] 08/11/2021 18:14

Looks like it was owned by Std Life Aberdeen Retail Pk Trust and was valued at 30-35m in 2019. Presumably they are selling to cover redemptions. Good roster of tenants would suggest rents are reasonably secure but whether they will make the ERV quoted is debatable but even if it static adds nicely to income stream.

[kenmitch] 08/11/2021 17:29

Interesting to see too that the once huge discount to NAV has narrowed almost to par without recourse to buybacks, except for one of 200,000 shares ages ago. AEWU also held their 8p dividend. I’m pleased with the performance of all my IT REITs but AEWU up 75% excluding dividends is best performer of all and yields 13% at my buy price.

Happy too with SREI performance though it lags AEWU but unlike AEWU, SREI is still on double digit discount to NAV despite regular buybacks a while ago.

I know my negative opinions on Investment Trusts buying back is a minority view, and one the excellent SKYSHIP strongly disagrees with, but AEWU supplies imo clear evidence that it can be far better investing in the business successfully to get the discount down rather than trying to do it via expensive buybacks with money that could have been used for bargain buys.

[stemis] 08/11/2021 12:04

That's quite a balsy call on the continued success of retails centres and the markets underpricing of them. So far Ms Short seems to have made the right calls. Fingers crossed...

[sogoesit] 08/11/2021 11:49

Thanks for info LG.
Retail (Parks), at first sight, appear to be risky in this day and age and, as mentioned in the RNS, this will bring the proportion upto about 25% whereas at June's report it was about 18%.

Personally I hope that Retail doesn't increase much further but, as you imply, a cheap price, with upside development, should cover the risks.

[lord gnome] 08/11/2021 09:58

Looks to be a very good purchase at a knock down price.

[catch007] 04/11/2021 17:25

Investor Meet Presentation out today

[ramellous] 21/10/2021 12:39

Good looking V bottom there...

[playful] 21/10/2021 07:05

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 22:54

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 16:18

"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 11:41

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

[ryesloan] 01/9/2021 14:07

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 14:02

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

[deanowls] 01/9/2021 13:11

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

[badtime] 01/9/2021 13:03

Youinvest have now amended the dividend payment to the full amount

[eezymunny] 31/8/2021 21:45

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

Doh!

[thetrotsky] 31/8/2021 18:31

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 18:27

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 17:42

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