CT Property Share Discussion Threads

[hugepants] 10/8/2021 08:46

This reit is being valued like it holds 50% high street retail not 50% industrial/logistics!

[alan pt] 10/8/2021 00:10

Added a bunch during that odd end of May dip, but (lack of) progress since has been disappointing. Encouraging to see some more interest here!

[skyship] 09/8/2021 21:23

Personally would have liked to have seen a buyback scheme in place - as per their sister company BCPT.

BREI are cheap and I added today - but their management not as good - both exec & non-exec....

[hindsight] 09/8/2021 17:03

Added 25% to my holding in this, seems best discount about. Destroys my good average entry though

Edit - Also like the fact not doing buybacks yet

[spectoacc] 09/8/2021 16:36

And a heavy Industrials weighting. BREI seem the pick atm.

[skyship] 09/8/2021 16:34

These are see-sawing around under 76p. A good opportunity to buy some cheap stock this afternoon - currently on offer @ 73.4p.

At that price the discount is at a sector high of 28.2% and the prospective yield on an assumed 3.75p divi = 5.12%.

[skyship] 09/8/2021 10:47

Next Qtly Divi should be announced later this month - 26th last year...

[skyship] 07/8/2021 21:07

Seems totally sensible....so nothing to see here.

[alan pt] 07/8/2021 18:13

Publication of a circular and notice of general meeting

The board of directors of BMO Real Estate Investments Limited (the "Company") is pleased to announce that it has published a circular containing details of the proposed changes to the Company's investment policy and notice of a general meeting to be held on 9 September 2021.

The Board, together with the Company's investment manager, has recently undertaken a review of the Company's investment policy in the light of the current trends and outlook of the UK's commercial property market, the recent growth in value that has been experienced in the Company's industrial, logistics and distribution ('industrial') portfolio and the strategy of selling some of the assets in the retail portfolio to reduce exposure to this sector.

As a result of such growth, the Company may risk exceeding the maximum weighting of 50 per cent. to industrial property in the Company's existing investment policy. The Board is therefore of the view that these maximum weighting limits have become unduly restrictive and is proposing that they are removed from the Company's investment policy in order to ensure flexibility in managing the existing portfolio and to facilitate appropriate decision making in the future (the "Proposal"). The full text of the proposed new investment policy is set out in full in the circular.

The Listing Rules require any proposed material changes to the Company's published investment policy to be submitted to the FCA for prior approval. The FCA has approved the new investment policy. The Listing Rules also require the approval of shareholders prior to any material changes being made to the Company's published investment policy. The Proposal is therefore subject to shareholder approval at the general meeting to be held at 10.00 a.m. on 9 September 2021 at the offices of BMO Global Asset Management, Quartermile 4, 7a Nightingale Way, Edinburgh EH3 9EG.

Copies of the circular have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.data.fca.org.uk/#/nsm/nationalstoragemechanism or on the Company's website at www.bmorealestateinvestments.com.

[chucko1] 03/8/2021 23:02

I have HL, but never thought it could do this. I tend to use a different system for most things, so thanks.

[hindsight] 03/8/2021 16:51

Chucko1, maybe of use for historic discount

[chucko1] 26/7/2021 16:11

Sky, what do you recall has been the range of discount/premium to NAV of BREI? (including, of course, prior to 2020).

[skyship] 26/7/2021 15:18

A nice bounce off the 50day SMA should provide the impetus to the April high of 80p, at which level the discount reduces from the current 25% (at 76.6p) to 21.6%.

[skyship] 26/7/2021 11:14

Enjoying the return through 75p.....and counting....

Sadly picking up a few errors in the RNS. Someone plainly can't use a calculator:

===============================

Share Price

The share price was 71.0 pence per share as at 30 June 2021, which represented
a discount of 24.3 per cent to the NAV per share announced above. The share
price total return for the quarter was -3.7 per cent.

===============================

[hugepants] 26/7/2021 10:47

Agree great update. Hopefuly they will announce a dividend increase next month.

[hindsight] 26/7/2021 09:56

Read across from others continues. Added too earlier on discount and no buyback yet.

[skyship] 26/7/2021 08:12

Excellent - both on the NAV front and also on the rent collection. Added a few this morning as the 27% discount clearly undervalues.

[spectoacc] 26/7/2021 07:07

Excellent. At some point, the market will wake up to the fact the small REITs - at least those with decent Industrials exposure - are putting on c.3% of NAV per quarter, with no contribution yet from retail or offices. That's still to come.


"The unaudited NAV per share of BREI as at 30 June 2021 was 102.1 pence. This
represents an increase of 3.0 per cent from the NAV per share as at 31 March
2021 of 99.1 pence and a NAV total return for the quarter of 3.9 per cent. "


More comment on the strength of Retail Parks for us EPIC fans too.

[epistrophy] 25/7/2021 20:09

I don't think it SHOULD weigh on the price, but markets tend to hate uncertainty. You can imagine wealth managers being reluctant to recommend a fund that might have a different name/manager next year.

Could indeed be positive if it gets rolled into a bigger fund... who knows?

[nickrl] 25/7/2021 13:55

Epistrophy why would it weigh on price? Is there not a potential for them to roll it into one of there own funds?


PS: Lowe's video fits the American approach nicely imv he will be there poster boy!

[epistrophy] 24/7/2021 21:11

Poking around the website I see that BMO are divesting most of their European business.



It appears this includes the Investment Trusts too - see this press release:



IMO this uncertainty is what is weighing on the share price. (But maybe the awful video too!)

ANOTHER ticker change incoming?

[spectoacc] 23/7/2021 15:39

It's not great if you're a shareholder :)

I'd stick to the synchronised diving.

[chucko1] 23/7/2021 15:28

Is it too awful to watch? I'm focused on the Olympics now so time is short.

[hindsight] 23/7/2021 14:50

Oh dear, explains some of the discount