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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 Shares Traded Last Trade
  0.80 1.06% 76.60 12,646 08:38:58
Bid Price Offer Price High Price Low Price Open Price
76.60 77.00 76.60 76.40 76.40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 17.79 3.65 2.40 31.9 122
Last Trade Time Trade Type Trade Size Trade Price Currency
08:40:00 AT 87 76.60 GBX

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Date Time Title Posts
25/11/202013:15AEW UK Reit1,039

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08:40:0076.608766.64AT
08:35:3777.351,029795.91O
08:20:1576.601,5001,149.00AT
08:20:1576.601,5001,149.00AT
08:19:1576.402,0001,528.00AT
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Aew Uk Reit (AEWU) Top Chat Posts

DateSubject
27/11/2020
08:20
Aew Uk Reit Daily Update: Aew Uk Reit Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker AEWU. The last closing price for Aew Uk Reit was 75.80p.
Aew Uk Reit Plc has a 4 week average price of 72.20p and a 12 week average price of 72.20p.
The 1 year high share price is 102p while the 1 year low share price is currently 53.20p.
There are currently 158,774,746 shares in issue and the average daily traded volume is 389,035 shares. The market capitalisation of Aew Uk Reit Plc is £121,621,455.44.
18/11/2020
21:06
nickrl: AEWU showing the impact of selling there best income asset at Corby with NRI down to a level below that which covers the cash dividend. OK they've benefited from selling Corby at a good profit so perhaps they will use that surplus to cover the deficit. Mind you they must have one of the lowest interest rates at 1.47%. Would need to cut it by 15% to cover it but would still provide sector topping 8.5% on todays share price should they decide to do that.
10/11/2020
07:05
skinny: AEW UK REIT plc: Acquisition of Industrial Estate. AEW UK REIT plc (LSE: AEWU) (the "Company") is pleased to announce that it has acquired the multi-let Westlands Distribution Park in Weston Super Mare for a purchase price of GBP5.4m. The purchase price reflects a low capital value of GBP175,000 per acre which provides strong potential for future capital value growth based upon nearby comparable land transactions which range between GBP350,000 and GBP500,000 per acre for other commercial and residential uses. The estate provides a net initial yield of 6.4% which is expected to increase to at least 7.4% within the medium term. The average passing rent of GBP1.50 per sq ft also provides strong potential for rental growth. The established 323,437 sq ft estate is let to 15 tenants including North Somerset District Council who make up 30% of the income stream. It is located 3 miles from the M5 Motorway and 20 miles south of Bristol city centre. Alex Short and Laura Elkin, Portfolio Managers, AEW UK REIT, commented: "Following the very profitable sale of our largest asset in Corby during May, we have undertaken cautious analysis of the investment market and our pipeline in the intervening months when looking to replace Corby and its income stream within the portfolio. This latest acquisition is an excellent fit for the portfolio as it offers significant potential for future value accretion in addition to its very low level of passing rent which provides strong prospects for future rental growth" Following completion of the above purchase, the Company holds cash of c GBP9.24 million.
22/10/2020
06:41
skyship: AEWU NAV Q3 update - down just 0.7% from 93.37p to 92.73p. Dividend again at 2.0p, but EPS at just 1.6p. Dividend unsustainable surely.
14/10/2020
22:02
hugepants: Buyback started. 200K at 76.5p https://www.investegate.co.uk/aew-uk-reit-plc--aewu-/eqs/transaction-in-own-shares/20201014174822ENWKP/
21/9/2020
18:52
chucko1: Hmmmm - there are degrees of uncoveredness! This one is pretty close and recall that the large cash holding is a key factor in the shortfall. Yet we want these propcos to be really liquid at this point in the cycle (if this really is a cycle), so you have to weigh the significant liquidity against the slight shortfall in income. The value of cash in a market as volatile as this weighs heavy. Liquidity has always had much more value than just looking at short interest rates. It buys other peoples' pain at a very cheap price. On that note, I bought back a portion of what I had previously sold. I am not afraid to hold quite a lot of AEWU, especially as we slide back down the 70s.
24/7/2020
14:21
chucko1: 25p is a darned sight closer to 0-20p than to the share price of 80p which is where the intellectual* contest was bitterly fought. Where was the NAV at the time? - oh, 90p or so. It's now 46p, so that line fails also. Johnwig is like someone attempting to lecture Engineering at Oxford, but with a B in maths A level. The crowd aren't buying it, even if the lecture is given in colourful prose! *I'm being really, really generous.
23/7/2020
20:03
kenmitch: SpectoAcc I don’t agree but can’t fathom why someone has voted down your well argued post, and some good posts on both sides of the buyback argument earlier. If Companies have spare cash I MUCH prefer getting it via a special dividend than seeing it frittered away on buybacks! e.g I liked the way Stuart Rose ran Marks and Spencer when in charge.....but he infuriated me with his insistence he had “rewarded̶1; shareholders with a £2 billion buyback. The share never reached that £4 price again and is under £1-now, so it was no reward at all. With dividends and specials shareholders do get the cash. And just look at that March market crash. Fat lot of good the £triillions spent on them in recent years, here and the US especially, did to protect share prices then! And buybacks often reward those shareholders who want out at the expense of those who stay in. With buybacks it’s far better to focus on fact ahead of theory, but so many fans seem to assume the theory translates in to fact. Sadly it doesn’t!
23/7/2020
17:00
stemis: At the current share price, buying their own shares on a yield of over 10%, with asset backing of 120%, is a decent use of cash. I must admit I found the valuation of Geddington Road a bit confusing - £10-15m? Surely it would have to be valued at a specific number in the balance sheet. I don't think it's just a matter of AEWU selling it's best quality asset. AEWU's strategy is to buy assets to which they can engineer value because they are close to the end of their leases or on below market rentals. Geddington Road was one such asset and clearly they have been successful. Interestingly they were looking for offers in excess of £16.25m, so there must have been some competitive interest to get £18.8m - hxxp://bcmre.com/assets/img/corby/corby.pdf
02/7/2020
23:45
gez: Is this UK Reit a bargain on a 12% yield and 26% discount? By Michelle McGagh, Gavin Lumsden 02 Jul, 2020 6 Comments Is this UK Reit a bargain on a 12% yield and 26% discount? Laura Elkin, co-manager of AEW UK (AEWU) real estate investment trust (Reit), has urged investors to consider a flight to good value after a coronavirus slump left its shares looking extraordinary cheap on a 26% discount to net asset value and a 12% dividend yield, the highest in its sector. The Covid-19 pandemic has heightened a polarisation in UK real estate in recent years that has seen Reits holding long leases and exposed to industrial and logistics properties bid up at the expense of generalist commercial property funds such as AEWU, a ‘flight to security’ Elkin called it in an interview with Investment Trust Insider. The trust’s annual results published last month suggest a more nuanced approach may be justified. Certainly, three months into the economic and health crisis it is worth asking if AEWU has been oversold, its shares slumping a third this year, from 99.8p to 67.8p, despite a 25% rebound since its 18 March low of 54.2p. After all 48% of the £107m trust’s assets are in the favoured industrial sector with a relatively low 12% in struggling retail. The results for the year to 31 March revealed a 5.5% fall in net asset value but a 7% increase in earnings per share that meant 8p per share in quarterly dividends were covered. ADVERTISING Ads by Teads Liberum, the trust’s broker, forecasts the dividend for this year will only be 7% uncovered on the basis that rent collection at 84% is resilient given the scale of the disruption from the lockdown. Of course, the double-digit yield indicates the threat of a potential dividend cut, a point the trust’s board acknowledged given the extreme uncertainty over how long the UK recession will last. But Liberum analyst Conor Finn points to the self-help AEWU has taken, last month selling a Corby property at a 23% over book value with cash from the disposal reducing net debt to 14%. Since the financial year-end lease renewals and restructurings have added 4% to the net asset value. Elkin, who runs the Reit with Alex Short, said the discount and the fact Reits in the ‘balanced̵7; category have remained ‘out of favour’ was ‘disappointing’. ‘Most of the [Reits] that we have seen recover quickly have been those that focus on higher income and very specialist sectors,’ she said. ‘That’s been the trend over the past couple of years; a flight to security.’ Long can be wrong However, she believed the focus on longer-dated income and long leases was misplaced due to the high cost of securing these stable income streams. ‘When we buy our assets they are not at a price that is very inflated like long leases, and a more in line with their fundamental valuation,’ she said. ‘If you are buying a 25-year lease at a very strong yield, that inflates the price [of the asset].’ Although longer leases are seen as safer bets, Elkin pointed to recent problems with Travelodge, which has entered into a ‘company voluntary arrangement’ (CVA), as proof that it is not totally secure. The CVA has forced Travelodge’s landlords to renegotiate rents and Secure Income Reit (SIR) has had to write off £14.4m of rent from its 123 leases with the budget hotel chain, which accounts for 12.9% of the £924m portfolio’s total rent. ‘When the market experiences volatility, and something like Travelodge, [with longer lease trusts] you have a much longer way to fall before the value is propped up by the fundamental value [of the asset],’ said Elkin. Managers AEW have had their own problems with long lease investments. The former AEW Long Lease trust sacked the fund manager and renamed itself Alternative Income Reit (AIRE) following a strategic review prompted by its largest tenant Meridian Metal Trading temporarily falling into administration last year. Alternative use Elkin argued that generalist property investors also have the benefit of being able to find ‘alternative use’ for their assets to boost returns. ‘Our property is supported by its fundamental value and its alternative use value,’ she said. AEW’s sale of the 35-acre car storage in Corby for £18.8m came two years after buying it for £12.4m, with the large mark-up partly due to the managers creating alternative use plans. Elkin said the asset yielded over 10% a year and the sale price achieved was 25% ahead of the asset’s value immediately prior to sale due to the ability to develop the land that came with the property for both residential or industrial use. ‘New-build residential and logistics would both create more value,’ said Elkin. ‘Because of the work we had done on the business plan we could say we wanted 25% [more]...to reflect the value that could be created.’ Pinpointing alternative uses will continue to be a strong trend for UK commercial property, particularly the development of residential property. ‘We have an industrial asset that we are in discussion about with a national house builder because they want to investigate the site for potential development and we are quite alive to that for the future,’ she said. Comments Rob Walker5 hours ago Whatever the comparative advantage of Industrial vs retail property, I can't see how property values and rental income will return anywhere near to that 99p valuation anytime soon. The real effect on struggling companies has yet to materialise while government support is still active and I suspect the forecast 7% income level will be short-lived. Reply Report this! Julian Stevens5 hours ago But for how long is a yield of 12% p.as. likely to last? Reply Report this! Jim Downie4 hours ago I hold this with quite a few others as I’m retired and to its credit unlike others it has paid full income through the current crisis - still a fair hit on capital but I’m not too worried about that if income can be maintained Reply Report this! Ian Marshall3 hours ago @Julian Stevens IMO dividend yield is not the point if its your own money which is being cannibalised. The reason I bought AEWU is the relatively low cost of each of their portfolio properties, the opportunity for enhancement, the reasonable borrowing level, the trust size and, yes the dividend. Although I am showing a 30% loss I will stick with it and hope it’s value improves without any risk of liquidation at low value. Reply Report this! Tony Taylor3 hours ago The inevitable rise in inflation warned about by the BoE this week will see property values rise considerably over the next 5 years. I'd rather be in now than late to the table. Reply Report this! DWi2 hours ago Bit confused about the charges for this REIT. Harg Lans's "At a glance" summary doesn't show any TER (strangely), but the KID shows a horrendous 1.42% transaction costs PLUS 3.49 other ongoing costs. AEW's quarterly (Q1 2020) update quotes annual management charge of 0.9% of invested NAV. Which is accurate? Reply Report this! Hide all comments
26/2/2020
07:39
jonwig: The placing failed because there was no open space between the NAV (97.24p), the asking price (97p) and the current share price (96-98p). The only viable situation is when you've got a share price well above a NAV and you can slot the asking price between the two.
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