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Share Name Share Symbol Market Type Share ISIN Share Description
Alternative Income Reit Plc LSE:AIRE London Ordinary Share GB00BDVK7088 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  -0.60 -0.88% 67.90 24,624 09:36:16
Bid Price Offer Price High Price Low Price Open Price
66.80 69.00 68.10 67.60 67.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 7.41 5.57 6.92 9.8 55
Last Trade Time Trade Type Trade Size Trade Price Currency
09:55:18 O 3,000 67.8472 GBX

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Date Time Title Posts
13/9/202213:24Alternative Income REIT - Long leases, High yield, good NAV discount760
21/1/202212:21Alternative Income REIT PLC1

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Alternative Income Reit (AIRE) Top Chat Posts

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Posted at 28/9/2022 09:20 by Alternative Income Reit Daily Update
Alternative Income Reit Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker AIRE. The last closing price for Alternative Income Reit was 68.50p.
Alternative Income Reit Plc has a 4 week average price of 67.60p and a 12 week average price of 67.60p.
The 1 year high share price is 85.70p while the 1 year low share price is currently 67.60p.
There are currently 80,500,000 shares in issue and the average daily traded volume is 96,424 shares. The market capitalisation of Alternative Income Reit Plc is £54,659,500.
Posted at 08/9/2022 16:13 by chucko1
A better argument might be that the tenants of AIRE properties are somewhat susceptible to power prices and Truss did less than required to satisfy their requirements. An even better argument is that AIRE is randomly traded by "people" who believe in lizards and goblins - and chartists. That's not even counting retail.
Posted at 08/9/2022 16:11 by spectoacc
Ha ha apologies to holders - had assumed it'd gone XD or something. AIRE never an inflation hedge ;) Not unless inflation in the 3% area.
Posted at 03/8/2022 07:08 by cwa1
Alan Sippetts, Non-Executive Chair of Alternative Income REIT plc, comments: "The Board is pleased to announce that we have met our target dividend of 5.5 pence per share (pps) with full dividend cover for the year ended 30 June 2022, following the declaration of our fourth quarterly dividend of 1.6 pps. At 30 June 2022, the Company's unaudited net asset value per share was 96.40 pence, representing a 3.3% increase over the quarter, due to increases in our portfolio valuation and rents as well as the careful control of costs. When combined with the 1. 60 pps dividend paid for the quarter, this produces an unaudited NAV total return for the quarter of 5.19 %. This quarterly update demonstrates that the Company's attractive, well managed and resilient portfolio continues to increase in value with growing contracted rents, 96% of which are linked to inflation. Together with our track record of collecting 100% of rents due, this helps ensure that AIRE is well-positioned to continue to provide our shareholders with attractive, secure, long dated income, including a potentially progressive dividend and capital growth."
Posted at 18/5/2022 12:36 by marktime1231
Well happy to be shown wrong, the AIRE discount is indeed continuing to close strongly, asking as high as 85p today. And why not, a fully functioning portfolio yielding well over 6% should not be trading at over a 10% discount on balance of risk and reward, there was a time when it traded at a premium. It is still top income for the sector, and there may be more uplift in the 93.3p portfolio valuation to come. Or is it that AIRE would make a welcome addition to a bigger more boring REIT where it would enhance their yield, especially since the small scale of AIRE means the management charge is a heavy burden? A takeout at a 5% premium to NAV would be 98p. By all means take some profit if you got some in the 50s and 60s during lockdown but it feels too early to be selling down. The next quarterly dividend is the big one, 1.6p to take us to the promise of 5.5p for the year, so at least hold for that cycle.
Posted at 05/5/2022 12:03 by marktime1231
The risk is in the share price, trailing NAV by a 15% discount. The reward is in some steady NAV progress but mostly in the splendid dividend. We understand that rents are not 100% indexed, they are only "linked" and with caps etc, so we should not get carried away thinking that AIRE is the complete answer to hedging inflation while RPI is this high. Thanks though for reminding us again. And again. There are safer, bigger, more diverse REITs, including ones which might be better at hedging inflation, or are returning better NAV growth, or closing the discount faster. The yield elsewhere is more average though. And nowhere is really safe is it? Whereas the yield here is top of the class. From memory you were here just over a year ago pointing out the pitfalls, banging the drum about the imperfect inflation-linked rents, and warning that you would remain on the sidelines watching because this REIT was small, concentrated, had bad tenant history, the gearing heavy etc. Doing a great job making sure no-one gets carried away by just looking at the upside, thank you. The share price then was in the 60's, plus the 10% or so yield over 13 months. Missed out on some pretty healthy returns which look set to continue. Worth speculating here in order to accumulate maybe?
Posted at 05/5/2022 10:07 by spectoacc
@SteMiS - and RPI fell to as low as 0.5% recently, from memory. But: 1. We're not in that world now, nobody expects a return to low inflation. (Albeit it nobody expected the Spanish Inquisition). 2. The original point was AIRE's claim of "Inflation-linked rent", which is beyond cheeky IMO. Would they still claim that if the cap was at eg 0.1%? The main linkage is them being mainly capped below it. 3. In your example (but taking annual), if the 7% came first, they've lost the extra permanently. Eg 100 - 107 - 110.21 - 111.3 for compound inflation at 7%, 3%, 1%, with a 1% collar. On an AIRE cap at 3.5%, that's 100 - 103.5 - 106.6 - 107.6. Yes, we're talking inflation, not actual rent increases, and there's a benefit to AIRE if inflation is below their collars (well below BoE target) for a sustained period, or inflation is rising at a time when rents are falling (eg Retail). But again, that's not the world we're in. If anything, rents (eg Industrial) have been rising well above inflation. (Apologies for multi-edit, got some maths wrong).
Posted at 02/2/2022 12:50 by marktime1231
Swapping one car showroom for another was a bit curious, "state-of-the-art" ? The rationale reads a bit like de-risking for those of you worried about that here, but the consequence of steadier prospects is lower yield. The move in AIRE share price which I inkled about two weeks ago has turned out to be quite something, added 4-5p and still going. Still worth low 80's on balance of risk and reward in my view. An update and dividend declaration expected tomorrow I think.
Posted at 19/12/2021 16:21 by marktime1231
Purely speculation as to what may happen if AIRE continues to trade at a wide discount while other REITS seem to enjoy better price recovery. What would you do when a stock is extremely cheap ... buy some / lots / all ... but it seems no-one is looking with much interest. Glenstone seem happy to sit and take the income. Even though AIRE was mosty recently confident of 98%+ rent receipts it does have property in sectors which will not enjoy additional restrictions on travel and consumer economic activity, however short lived the latest covid wave might be. I get that AIRE is risky compared to say MLI which is larger and firmly focused on the industrial sector, but pays a miserable 3.5%. I get that AIRE is riskier, but I don't think the balance of risk-reward is fairly reflected in the share price which feels 20% too cheap. That no-one agrees with my view is probably why we are down in the low 70s.
Posted at 30/9/2021 08:13 by cwa1
Results released(MY bold):- https://www.investegate.co.uk/alternative-inc-reit--aire-/rns/results-for-year-ended-30-june-2021/202109300700114596N/ inancial Highlights · Net Asset Value ('NAV') of £68.89 million, and of 85.58 pence per share ('pps') as at 30 June 2021 (30 June 2020: £67.29 million and 83.58 pps). · Operating profit of £6.31 million (before fair value changes) for the year (year ended 30 June 2020: £5.80 million). · Profit before tax of £5.57 million, profit per share of 6.92 pps for the year (year ended 30 June 2020: loss before tax of £5.05 million, loss per share of 6.27 pps, primarily due to write-downs of property valuations). · EPRA Earnings per share 1 ('EPS') for the year were 5.55 pps (year ended 30 June 2020: 5.42 pps). · Adjusted EPS1 for the year, which reflect cash earnings, were 5.07 pps with dividend cover of 99% (year ended 30 June 2020: 4.25 pence per share; dividend cover of 85%). · Total dividends of 5.14 pps declared in respect of the year (year ended 30 June 2020: 5.0 pps), underlining the Company's strong rent collection and cash flows . The Board has reaffirmed its target annual dividend of 5.5 pence per share, with full dividend cover expected, all else being equal, by September 2022. · The price of the Company's Ordinary Shares on the Main Market of the London Stock Exchange was 71.00 pps as at 30 June 2021 (30 June 2020: 53.50 pps). · As at 30 June 2021, the Group had a £41.0 million loan facility with Canada Life Investments and was geared to 36.3% of the Gross Asset Value ('GAV') (30 June 2020: £41.0 million, gearing of 37.0%). · For the year ended 30 June 2021, non-property operating expenses were £0.88 million (30 June 2020: £1.49 million), representing a 41% reduction, or 35% reduction after allowing for the period during which M7 did not charge an investment advisory fee and as a result of the Board taking a disciplined approach to cost management. · Ongoing charges of 1.27% as at 30 June 2021 (30 June 2020: 2.22%). Operational Review · To date, the Group has collected 97.8% of all rent demanded since the beginning of the COVID-19 pandemic, with the remaining 2.2% to be collected through payment plans throughout 2021 and 2022; further information can be found in the Investment Adviser's Report. · As at 30 June 2021, the Group's property portfolio had a fair value of £109.23 million across 19 properties (30 June 2020: £104.76 million, 19 properties including the Wet 'n' Wild Water Park held for sale). As at 30 June 2021, when looking at the core 18 assets that have been held over the last 12 months, the property portfolio had a fair value of £104.08 million (30 June 2020: £101.91 million). · Weighted average unexpired lease term ('WAULT') of 17.8 years to the earlier of break and expiry (30 June 2020: 19.5 years) and 19.8 years to expiry (30 June 2020: 21.6 years). · Rent recognised during the year was £7.21 million (30 June 2020: £7.35 million) , of which, £0. 49 million was accrued debtors for the combination of minimum uplifts and rent-free period (30 June 2020: accrued debtors of £ 1.28 million) . The number of tenants as at 30 June 2021 was 22 (30 June 2020: 21). · 87.0% of the Group's income is inflation linked to Retail Price Index ('RPI') or Consumer Price Index ('CPI'). · As at 30 June 2021, the portfolio had gross passing rental income of £6.97 million (30 June 2020: £6.79 million ) . · As at 30 June 2021, the asset valuations and rental income of the 17 properties secured to Canada Life would have needed to fall by 18% and 24% respectively before breaching the Loan to Value and Income Cover Cash Trap covenants respectively. · EPRA Net Initial Yield ('NIY') of 5.94% as at 30 June 2021 (30 June 2020: 5.72%) 2 . Post balance sheet events On 2 August 2021, the Board declared an interim dividend of 1.64 pence per share in respect of the period from 1 April 2021 to 30 June 2021. This was paid on 31 August 2021 to shareholders on the register as at 13 August 2021. The ex-dividend date was 12 August 2021. All references to page numbers are in reference to the Annual Report which will be available in due course at: https://www.alternativeincomereit.com/investors/documents/2021 Alan Sippetts, Non-Executive Chairman of Alternative Income REIT plc, comments: " The fundamentals of certain property sectors in the UK appear robust and the Group's portfolio has proved resilient throughout the challenges of the COVID-19 pandemic, underpinned by robust rent collection and over 87% of our leases with inflation linked upwards only rent reviews. Furthermore, the Company's share price has substantially increased by 32.7% to 71 pence as at 30 June 2021 (as at 30 June 2020: 53.5 pence per share) narrowing the discount to our NAV. We are pleased therefore that we were able to declare an increased dividend to shareholders, which is testament to the Board's confidence in the long-term value we can deliver to our shareholders and underlines the continuing strength of the Group's collection of rent from our 100% let portfolio. Taken together with our robust balance sheet, much reduced overhead and with 87% of our portfolio's leases with inflation linked upwards only rent reviews, the Board remains confident that the Group will provide attractive total returns to our shareholders principally in the form of fully covered dividends but also through other opportunistic initiatives, supported by our Investment Adviser."
Posted at 27/10/2020 10:36 by skinny
Glenstone Property PLC Tender Offer. ANNOUNCEMENT OF TER OFFER AT A PREMIUM BY GLENSTONE PROPERTY PLC FOR UP TO 20,125,000 ORDINARY SHARES IN ALTERNATIVE INCOME REIT PLC AT A PRICE OF 59.25 PENCE PER SHARE Tender Offer at a Premium Glenstone Property PLC ("Glenstone") announces its intention to acquire up to 20,125,000 ordinary shares for cash in Alternative Income REIT PLC ("AIRE"), representing up to 25.0 per cent. of AIRE's issued share capital, by way of a tender offer (the "Tender Offer") at a price of 59.25 pence per share and by way of market purchases. -- The Tender Offer price of 59.25 pence per share represents a premium of 12.9 per cent. above the closing bid price of 52.5 pence per share as at the close of business on 26 October 2020, being the last business day prior to the publication of this announcement. -- The Tender Offer provides AIRE's shareholders with a liquidity event, at a premium to the share price, which is being made available to all AIRE's shareholders, against the background of the prevailing macro-economic uncertainty. -- Full details of the Tender Offer are anticipated to be sent to shareholders within seven days of this announcement; in the meantime Glenstone intends to purchase a limited number of AIRE's shares in the market subject to availability. -- The Tender Offer will be conditional on the receipt of sufficient tenders which, when aggregated with any shares purchased by Glenstone in the market, represent a shareholding of not less than 20.0 per cent. of AIRE's issued share capital on the date that the Tender Offer is made. This condition may be waived by Glenstone in its sole discretion. -- If the Tender Offer is oversubscribed, such that the aggregate number of tendered AIRE shares would result in Glenstone holding in excess of 20,125,000 AIRE shares, tenders will be scaled back pro rata to the number of shares in AIRE that have been tendered. Glenstone is a public limited company incorporated in England & Wales which qualifies as a UK real estate investment trust and which is listed on The International Stock Exchange (TISE) in Guernsey. It is an internally managed, diversified property investor with a portfolio of more than 100 properties across the UK and is actively seeking opportunities to reinvest the proceeds of recent asset disposals in pursuit of its investment objectives. As at the date of this announcement, Glenstone does not hold any shares in AIRE. Glenstone does not intend to make an offer to acquire the entire issued and to be issued ordinary share capital of AIRE pursuant to Rule 2.7 of the Code nor does it intend to seek a direct role in the management of AIRE's portfolio or any combination of its own assets with those owned by AIRE. Further on Glenstone's Intentions In the event that the Tender Offer is accepted in full, Glenstone will have a 25.0 per cent. shareholding in AIRE which it will hold as an investment. Glenstone will seek representation on AIRE's Board and will be supportive of a low operating cost base and other initiatives which seek to maximise returns to shareholders. Glenstone notes the recent announcement by AIRE of its proposed amendments to AIRE's investment policy. Glenstone will carefully evaluate these and all of the resolutions which have been proposed by the Board of AIRE for consideration by shareholders at AIRE's forthcoming AGM due to be held on 26 November 2020. Further Information on the Tender Offer and Timetable The Tender Offer will be made by means of a tender offer document including a tender form (collectively, the "Tender Offer Document") which is expected to be sent within seven days of this announcement (the "Posting Date"), to each shareholder of AIRE (each, an "AIRE Shareholder") whose name appears on the register of shareholders at the latest practicable date prior to despatch. Glenstone intends to purchase a limited number of shares in the market from the date of this Announcement and to cease market purchases prior to the Posting Date. The Tender Offer will be open from the Posting Date and is expected to close 21 days following the date of this announcement at 1.00 p.m. on 17 November 2020 (as shall be specified in the Tender Offer Document, being the "Closing Date"). The Tender Offer will only be available to AIRE Shareholders who are on its shareholder register as of 6.00 p.m. on the Closing Date. The maximum number of shares of AIRE which may be tendered by AIRE Shareholders pursuant to the Tender Offer (the "Tender Shares") will be specified in the Tender Offer Document. To the extent that Glenstone purchases shares of AIRE in the market it shall make announcements to this effect and the number of Tender Shares will be such that the maximum number of shares in AIRE which Glenstone will own following the completion of the Tender Offer will be 20,125,000, representing 25.0 per cent. of AIRE's issued share capital as at the date of this announcement. If the Tender Offer is oversubscribed such that the aggregate number of tendered AIRE shares exceeds the maximum number of Tender Shares, tenders will be scaled back pro rata to the number of shares in AIRE that were tendered. The Tender Offer will be conditional on the receipt of sufficient tenders which, when aggregated with the number of shares purchased in the market by Glenstone, represent a shareholding in AIRE by Glenstone of 20.0 per cent. of the issued share capital of AIRE on the date that the Tender Offer is made. This condition may be waived by Glenstone in its sole discretion. Accordingly, if this condition is not satisfied (or waived) by the Closing Date, the Tender Offer will be void. Subject to this condition, any tender forms submitted by AIRE Shareholders shall be irrevocable. Shares in AIRE that are successfully tendered will be acquired by Glenstone fully paid and free from all liens, charges, equitable interests and encumbrances and together with all rights attaching thereto, including the right to all dividends and other distributions declared on or after the date of this announcement, and the right to attend and vote at any meeting of AIRE held after such date. Settlement of the consideration to which any AIRE Shareholder is entitled pursuant to valid tenders accepted by Glenstone will be made in accordance with the terms of the Tender Offer Document. The availability of the Tender Offer to AIRE Shareholders who are not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions. AIRE Shareholders who are not so resident should inform themselves about, and observe, such applicable requirements. In this announcement, all share capital details are based on the latest publicly available information and certain figures have been subjected to rounding adjustments. This Announcement is for information purposes only and does not constitute an offer to sell or an invitation to purchase any securities or the solicitation of an offer to buy any securities. There is no guarantee that the Tender Offer will be made nor that AIRE Shareholders will be able to sell all of their Tender Shares. The Tender Offer shall be made solely by means of the Tender Offer Document which shall contain the full terms and conditions of the Tender Offer, including details of how to tender your shares and so should be read carefully. The Tender Offer Document is important and will require your immediate attention.
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