CT Property Share Discussion Threads

[spectoacc] 15/9/2021 13:53

Do like BREI, have loads of them, seems to be under the radar.

Won't get into BCPT but to say there's some serious buyback power ahead, the recent office sale was at an 11% premium to NAV (last NAV c.£1.25), & St Chris's may yet turn out to be an asset not a liability.

[hugepants] 15/9/2021 13:43

Imo BREI beats BCPT on every metric (except for share buyback!). Better yield, bigger discount, better portfolio split (more industrial, retail warehouse).
But a low key announcement on significant dividend increase hasn't helped. Probably few noticed.

[spectoacc] 10/9/2021 15:33

BCPT by far my favourite REIT.

@speedsgh - both a buy and a sell ;)

BREI seems moribund until the seller is finished.

[horseyphil] 10/9/2021 14:30

Agreed, wouldn't want to become part of BCPT as there are aspects of that portfolio I don't like at all (Aberdeen, Crawley etc) - that's the catch with a merger as BCPT would be the most likely candidate.

Could imagine the new owners of BMO Asset Management encouraging that though, as they might consider BREI just too small to bother with.

[alan pt] 10/9/2021 14:15

Merger sounds good in principle, but not sure I fancy adding the BCPT portfolio. SREI would be more attractive, but perhaps harder to pull off?

[speedsgh] 10/9/2021 11:34

682,000 shares traded at 73.4p = £500,588. Difficult to tell if buy or sell.

[nickrl] 10/9/2021 11:27

1p/qtr is a push to cover at the cash level based on current rental levels so unless they deploy the cash on purchases its not going any further for a while imv. Im not for buybacks generally but seems best use of funds atm as finding value in purchases looks difficult. Not sure the fund manager here are really earning there fee just sitting on the fence perfect to be taken out by somebody.

[horseyphil] 10/9/2021 10:05

The only fire-sale prices I'm seeing are in shopping centres, high street retail or low-grade offices - anything of quality is going for tiny yields.

Better to be a seller than a buyer right now, especially when they can use the proceeds to buy back shares at our current discount, but the Board and managers clearly have their own agenda and interests.

BCPT has decided to cash in and sell a trophy asset and use the proceeds for buybacks.

Agree with you hindsight that we should buy back some shares and then look to merge or be taken over.

[hindsight] 10/9/2021 09:18

Share buy backs then merger gets my vote

[colonel a] 10/9/2021 09:06

If they are too small to buy back shares when it would appear to be in their shareholder's interest, then perhaps they should be considering looking at merger options ?

[spectoacc] 10/9/2021 08:06

I don't doubt we're on 1p/qtr going forwards.

Agree with @Skyship that buybacks at this discount make far more sense than punting into a hugely buoyant property market. Yet to see a cheap purchase (or cheap sale) by any of them. The various sales have looked more impressive than the buys.

[frazboy] 10/9/2021 07:43

Rereading the 11.07am announcement from yesterday, I'm still not 100% sure, that the increase isn't a one off. Anyone else have that concern? I mean, if rental collection is at 97%, and they've paid 3.55p in dividends (presumably nearly all retained earnings) for YE June 2021, are we definitely to expect 1p a quarter next year? As I say, I'm not 100% sure! No marks the board for the ambiguity and the timing of the announcement.

[skyship] 09/9/2021 19:05

BUYBACKS: Exchanged emails with them back in early July. Rec'd a very long and detailed response confirming under constant review.

Main reason for not doing so was stated as being the company is already small; and the Board wary of shrinking further. Prefer to buy additional assets with available resources.

Disingenuous IMO. Their fees would be reduced! Enough said...

[cwa1] 09/9/2021 17:12

EGM resolution voted through overwhelmingly

[cwa1] 09/9/2021 16:37

Yes, had a few myself in the 72s this afternoon. Room for some more if there's a further sell off I suppose...

[horseyphil] 09/9/2021 16:35

At these prices the Trust should be buying shares back.

[skyship] 09/9/2021 16:28

Crazy low price. Would have had more on my CFD a/c; but unable to trade the really clunky CMC site......grrr

[nickrl] 09/9/2021 12:38

Divi update released at 1107!! anyhow yield upto 5.5%

The Company today announces a quarterly interim dividend in respect of the year ending 30 June 2021 at an increased rate 1.0 pence per share. This is a 17.6 per cent increase on the previous quarterly interim dividend of 0.85 pence per share and is a reflection of the level of rental collection for the past twelve months which is at 97 per cent. This dividend will be a property income distribution.

The key dates for this interim dividend are as follows:

Ex-Dividend Date - 16 September 2021

Record Date - 17 September 2021

Payment Date - 30 September 2021

[alan pt] 09/9/2021 11:47

Starting to feel like a replay of EPIC :-)

[spectoacc] 09/9/2021 11:44

Got more just under 72.2 ;))

Second largest position, better stop now. That rent collection is impressive tho, & expecting more NAV rise next time, particularly with the need to change the Articles for Industrial going over 50%.

[spectoacc] 09/9/2021 11:37

You've beaten me on price! Big, news-insensitive seller out there it seems.

[alan pt] 09/9/2021 11:36

Good news! Just grabbed some more, surprised I could still get them for just over 72.2

[speedsgh] 09/9/2021 11:12

Quarterly interim dividend increased from 0.85p to 1.00p per share...

[spectoacc] 09/9/2021 11:11

MMs selling to me at 72.4p.

"
The Company today announces a quarterly interim dividend in respect of the year
ending 30 June 2021 at an increased rate 1.0 pence per share. This is a 17.6
per cent increase on the previous quarterly interim dividend of 0.85 pence per
share and is a reflection of the level of rental collection for the past twelve
months which is at 97 per cent. This dividend will be a property income
distribution."