CT Property Share Discussion Threads

[spectoacc] 17/1/2022 14:41

Hoping for +5%'s on portfolios overall. BRIE & PCTN would go very well together. Still some real value out there IMO.

[skyship] 17/1/2022 13:34

The remarkable stats in this report surely suggest that the Q4’21 Updates are going to be rather attractive. Increases in the 5%-10% range highly likely, with even the office sector showing a small increase.

First to report might well be BREI (c24th Jan.) & EPIC (c26th Jan.) Can’t wait…

[skyship] 17/1/2022 11:23

A bit of a gap opening up in the valuations of the two BMO Reits:

# BCPT @ 110p - NAV discount = 15.4%. Yld = 4.09%

# BREI @ 86p - NAV discount = 22.2%. Yld = 4.65%

Buybacks working well for BCPT; but BREI a good short-term BUY ahead of Update next week.


free stock charts from uk.advfn.com

[spectoacc] 14/1/2022 19:35

Thanks @nickrl, interesting - the Omicron restrictions can't have hurt it I guess, but that rise seems a bit toppy. Would be delighted with that for the quarter.


Edit - they even nudged offices & retail up, but the Industrials growth was led by Logistics, not sure we've much of that.

[hindsight] 14/1/2022 18:39

Got filled for a few at 84.4 today, cant do many as near my self imposed size limits

[nickrl] 14/1/2022 17:39

Don't know how much faith you can put in CBRE reports but they say in Dec 21 Industrial sector was up a record 8.4% over the month.

hxxps://www.cbre.co.uk/research-and-reports/United-Kingdom-Monthly-Index-Snapshot-December-2021

Given BREI 50% in industrials that ought to help NAV for Q4.

[spectoacc] 14/1/2022 16:29

And about a quarter offices, which are unlikely to have gone anywhere in the next valuation, but that's a lower office % than many others.

[hugepants] 14/1/2022 16:22

Just to join in the ramping here they also have a decent chunk of retail parks (18%+). Industrial + retail parks is approx 70%. And one of the lowest LTVs in the sector at 26%.

[spectoacc] 14/1/2022 16:15

Thanks @Alan.

Odd how BREI towards the top end of discounts, yet also has one of the highest Industrials weightings.

[alan pt] 14/1/2022 16:13

Gets a mention here hxxps://www.ii.co.uk/analysis-commentary/best-places-new-year-trust-bargain-ii522561

"New Addition: BREI
To replace OCI, we are bringing in BMO Real Estate Investments. As at 03/01/2021, BREI was trading on a 22.6% discount, the widest of the direct UK property generalist trusts and wider than all but two of our portfolio constituents"

[spectoacc] 14/1/2022 15:02

I've no truck with TA, but as per above, suspect the current discount (to end-Dec) is a fair bit larger than c.23%. Been buying again, but with no effect on the price - big seller somewhere.

[skyship] 14/1/2022 14:55

BREI has now spent 3months consolidating its 15% rise in October.

The chart is carving out a traditional flag from which it will break one way or another - assisted by the next NAV stat & Update due in c2weeks; or possibly by the REIT corporate action much talked about by Michael Morris of PCTN.

At 84.8p the discount is currently at 23.3% and the yield at 4.72%.


free stock charts from uk.advfn.com

[spectoacc] 11/1/2022 09:09

NRR's NAV has to stop falling eventually. And BREI's has to stop rising I guess, or at least stop rising so fast.

Maybe 115p's gutsy, but even say 113p (for end-Dec, so there already), the discount at c.85p is almost a quarter. On a heavy Industrials weighting, and with a NAV that's going up.

[alan pt] 06/1/2022 15:12

Picked up a few more at 84.5 today, 24% discount. Meanwhile, NRR jumped to a 29% discount. One or both of those has to be wrong...

[spectoacc] 04/1/2022 13:16

BREI looks the stand-out - almost all other small REITs breaking out now. BREI still in a flag formation.

Next NAV released towards then end of this month. 110.5p last time, would expect nearer 115p even with divis paid.

Book-talking - like BREI, with its hefty Industrials weighting. Can't see it doing anything other than well atm.

[cwa1] 18/11/2021 08:21

Interim Dividend

The Company today announces a quarterly interim dividend in respect of the year
ending 30 June 2022 at a rate 1.0 pence per share. This dividend will be a
property income distribution.

The key dates for this interim dividend are as follows:

Ex-Dividend Date - 9 December 2021

Record Date - 10 December 2021

Payment Date - 31 December 2021

[essentialinvestor] 14/11/2021 17:05

What I like about BREI is the geographic location of their assets.

Just reading the latest DLN update and their vacancy rate is down to 1.9%.

Quite incredible given what we have been through but underlines the demand for quality.

[skyship] 13/11/2021 12:58

spoole5. I also hold SLI & EPIC. Sold my BREI recently; though watching to re-join if they fall any further.

The other I hold is SREI. Topped up again this past week as they are to be the last to publish their Q3 performance; though will do so with their Interims on Tuesday, 23rd.

If they report the average 5% increase, then the NAV increases to 66.0p and the discount up to 24.3%. Combine that with the yield of 5.43% and IMO SREI is currently the best value.

As discussed elsewhere, they may also be on PCTN's declared shopping list - see PCTN & CP+ threads.

[spoole5] 13/11/2021 09:29

Looking to add this to my REITs, currently hold SLI and EPIC, i think property and gold will be a decent combination next year.

[essentialinvestor] 12/11/2021 16:18

HP,referring to a previous comment here, not your post.

Apologies a little unclear. I just read back a few weeks of the board posts this afternoon.

[hugepants] 12/11/2021 16:13

why is it a positive comment? I've simply posted a fact. You are free to interpret it as positive/negative/neutral as you wish.

[essentialinvestor] 12/11/2021 16:01

Much prefer to hear cautious or more circumspect comments on something I hold,
provided they are reasonable(Ish).

You learn very little from positive echo chambers and we can all overlook things.

[hugepants] 12/11/2021 15:56

discount back up to 25%

[skyship] 06/11/2021 08:46

thnx hp...