Custodian Property Incom... Share Discussion Threads

[essentialinvestor] 15/2/2024 13:08

CW, yes all at web rates

They are training up a bunch of new starters atm so it's a little easier to get through this week.

[cwa1] 15/2/2024 13:02

I assume that was a phone deal EI? They should do those at online rates

[essentialinvestor] 15/2/2024 12:59

Raj, my latest purchase was this morning - 22788 shares at .6460, so the answer is yes, it is possible with ii.


But there may be a proviso, as you have identified correctly there is a KID 'issue'.

ii gave clearance to buy as I said that I had read this previously.

[cwa1] 15/2/2024 12:46

No doubt due to the lack of a KID. Goodness only knows why though. Seems to be a regular problem with ii unfortunately :-(

[raj k] 15/2/2024 12:44

Does anyone know why you cant buy CREI on Interactive Investor? It comes up on their mobile app as no regulatory docuemtns. Has anyone been able to buy on phone or is it a no go with them?

[essentialinvestor] 14/2/2024 14:26

With cavernous sector discounts available atm, it's impossible to discern a share price low. The higher yield 'should' provide some eventual support, particularly as it's a covered dividend.

API suffered hugely from the financing fiasco
and arguably their discount to NAV may not reflect the quality of assets. The API discount more a reflection of ABRDN (best guess).

It could look very different in 12 months (or may not!). Would be very surprised if the deal does not complete.

[spectoacc] 14/2/2024 14:10

Even if the deal fell through, would CREI ever deserve a premium discount (if that isn't a non sequitur) again? I'd argue not.

[hugepants] 14/2/2024 13:50

The share price is 20%+ down since this acquisition was announced. Not bad considering the intention was, and I quote, to "deliver shareholder value"!! Just looks like an act of sabotage now. CREI probably a takeover target themselves now. Maybe API should make an offer?

[dr biotech] 14/2/2024 13:26

Me too. Now have just over £40k across API/CREI. Looking at a LTH I need to start getting more income from my holdings. Not that a bit of capital appreciation wouldn’t be welcome.

[badtime] 14/2/2024 10:55

I'm tempted

[essentialinvestor] 14/2/2024 09:47

And a few more, that's my lot for the day.

[essentialinvestor] 14/2/2024 08:38

Added a few.

[badtime] 13/2/2024 14:23

Further weakness :(

[nexusltd] 12/2/2024 18:22

I’ve reviewed the Q4 December 31 updates from both API & CREI. I have accumulated CREI @ average 71p to equal weight my API holding. I’m voting all my shares for the proposed merger. I have detailed the reasons underlying my choice on the API thread.

[hugepants] 12/2/2024 09:28

The institutional investors would have to be bonkers to vote this through imo.

[nickrl] 11/2/2024 17:06

@EI API have done well to close down the vacancies they've had on offices for many years and actually made them more investable for me. Mind you it could easily fall back if expires/breaks don't get renewed. I suspect CREI will move out the bigger API assets like Hagley Rd if they can shift at current valuation.

[essentialinvestor] 11/2/2024 14:15

Does abyone have a view on the 20% office holdings the business will have post merger?. Thanks.

[essentialinvestor] 10/2/2024 12:38

The API Scottish land purchase was £7.5 Million, since owning some of that land has been planted (not all on my understanding).

So hopefully CREI dispose for £8 Million plus. Very clear from comments they don't see this as part of the portfolio going forward.

[essentialinvestor] 10/2/2024 11:55

The 20% office holding (post merger) is not ideal.

I can see the attraction in Grade A London. Well located Birmingham and Manchester should also be ok? (but tbh I don't know those areas well enough).

If there is a further dip intend to add a few more, which may not happen.

[skyship] 10/2/2024 10:03

SREI has a great B/S - locked in long-term debt with 10yrs maturity. Not especially cheap though.

Personally I topped up my API yesterday as at 52.45p it equates to buying CREI at 67.24p. CREI very well-managed and will turn around after the merger has gone through. Getting an 8% yield there is almost generous to a fault!

[giltedge1] 10/2/2024 08:46

API was improving Occupancy to 95%, & ERV chugging along nicely before bid, not sure of new mgt I believe only property fund, so a small outfit. Share price slightly up so tempted to move to SREI or SHED each have there own positives & negatives. SREI move office exposure but Schroders manages billions & more inhouse resources. Decisions? Any thoughts?.

[spectoacc] 09/2/2024 20:45

Few were happy with the CTPT deal, CSH, or EPIC either.

MLI about the only good one, unexpectedly out at NAV.

Surprised at CREI, they look to have permanently removed their favourable discount.