Balanced Commercial Prop... Share Discussion Threads

[killing_time] 19/4/2022 06:18

Results out, dividend raised.

[cwa1] 02/3/2022 15:09

Apologies for the formatting, but I'm sure you get the gist!

[cwa1] 02/3/2022 15:09

BMO Commercial Property Trust Limited today announces a monthly property income distribution payment in respect of the financial year ended 31 December 2021 of 0.375 pence per share as detailed in the schedule below.

The key dates for this interim dividend are as follows:

Ex-Dividend Date
Record Date
Pay Date 10 March 2022
11 March 2022
31 March 2022

[spectoacc] 02/3/2022 08:55

MCKS bid for by Workspace, interesting.

BCPT plenty in London, tho not like eg HCLC or DLN or GPE.

[spectoacc] 10/2/2022 09:59

Pleased to see a more sensible buyback yesterday.

[skyship] 08/2/2022 16:07

hs - could you post the epic of that interest rate short - assuming that is what it is. Thnx...

[spectoacc] 08/2/2022 14:42

Could be it I guess, thanks @hindsight. Not sure if the smaller REITs that bothered by gilt yields, but most do seem to be down.

Next CPI reading is going to be interesting.

[hindsight] 08/2/2022 14:33

10 Year Gilts falling again SpectoAcc, know as short an R future

[spectoacc] 08/2/2022 14:05

This is what I find annoying and ham-fisted about the buy-back. 115p paid for 2m on Friday, yet I bet they don't purchase a single share today at below 110p.

Not the only REIT suffering today for some reason (eg UKCM).

[spectoacc] 07/2/2022 07:27

2m at nearly 115p, won't deny I'm less keen on that. Still - NAV c.135p, and can completely see how BCPT shares at 115p are a far better buy than any currently available physical property.

Just that I preferred it when they were buying back at £1/under £1.

[cwa1] 02/2/2022 17:39

DATE: 2 February 2022

Dividend Declaration

(Classified Regulated Information, under DTR 6 Annex 1 section 2.3)

BMO Commercial Property Trust Limited today announces a monthly property income distribution payment in respect of the financial year ended 31 December 2021 of 0.375 pence per share as detailed in the schedule below.

The key dates for this interim dividend are as follows:

Ex-Dividend Date
Record Date
Pay Date 10 February 2022
11 February 2022
28 February 2022

[vacendak] 01/2/2022 18:03

As the URL says, this is a review of real estate/property but... BCPT is not in the list. :(

[spectoacc] 31/1/2022 08:11

First share purchase announced since 2m at 106p on 6th Jan. Glad to see a lot smaller at these higher prices (292k at 114p).

Still NAV accretive, just not so much.

[spectoacc] 29/1/2022 13:22

@nickrl - all valid points, and possibly explains the continuing downticks from the valuers.

However - that void rate is very interesting, and if (as you say, and as seems likely) there's a lot of incentives and rent-frees atm, those don't last forever. Remember it's doing this (occupancy) without much in the way of international travel.

Still very confident in BCPT - think it'd take a return to par, or an end to strong NAV uplifts (say below 1%/qtr) to send me negative.

And intrigued to know what they spend the spare cash on - everyone going for Industrial atm.


Edit - wow yes, heck of a UT yesterday. Not even a qtrly expiry day.

[cwa1] 28/1/2022 17:38

The UT was all but 10,000,000 shares. Hefty by BCPT standards

[nickrl] 28/1/2022 17:26

specto footfall is one thing spending money is another thing of course. Also with pressure on utility bills draining discretionary cash from shoppers pockets as well as the hospitality trade having to cover extra costs I feel St Chris will tread water for a while yet. Of course we don't what lease incentives are being offered at St Chris and whether they've gone down the t/o route. Still even with this rest of portfolio will keep it moving forward.

[vacendak] 28/1/2022 17:11

A lot of see-sawing to end up at close only 0.8p up from last Friday.

Oh well, we shall take that 0.8p then. It could have been far worse considering what has happened to the market at large.

[spectoacc] 27/1/2022 07:07

Still doing c.5p/qtr in NAV, amazing. Void rate down to 2%.


Edit - interesting report. Buybacks added a decent chunk (1.1p), and St Chris's marked down a further 1.5%, yet completely at odds with how it's performing (footfall back to 2019 levels, despite Omicron). So at some stage those ongoing write-downs should become write-ups. But not, despite what I'd hoped, just yet.

In meantime, BCPT can still do c.5p/qtr regardless, so NAV now c.135p with all the St Chris's effect still ahead.

The acquisitions in the qtr will have also dragged a touch - 5% stamp duty.

Divi to go up again once excess cash deployed - interesting to see where it goes, in what's a strong market.

[spectoacc] 21/1/2022 09:35

And justifiably so.

Unique asset, if London/St Chris's has turned, we're off to the races. Back to par, but a par higher than last NAV, and no longer over-paying divis.

[vacendak] 21/1/2022 09:24

Another week like this one and we would be close to pre-COVID prices.

[vacendak] 17/1/2022 17:37

+3.35% today, nice reaction to the RNS.

[nickrl] 17/1/2022 10:53

I feel logistics is getting a tad over extended and this RNS confirms it so i can't see much scope for more gain in this class but nether can see it going backwards either as a big chuck of the move in line is permanently baked in now. Then you have CapCo RNS today as well which shows that people facing operations be it retail, eating out or leisure is far from dead and this will undoubtedly have positive read across to St Chris valuation. Have to say been caught off guard with resilience of footfall in London and presumably other cities and should have struck more heavily when we had the Omicron dip in Nov.

[spectoacc] 17/1/2022 10:18

Ha ha well done hanging in there - and you've had the divis along the way.

[vacendak] 17/1/2022 10:16

The batch I bought at 109.50p back in July 2016 is now back in the black!

We only blabbed about Brexit back then and circa 110p looked like "blood in the streets" compared to the more sedate 130-150 range we were used to.