Custodian Property Incom... Share Discussion Threads

[badtime] 12/3/2024 13:00

Happily only sold 50% :)

[spectoacc] 12/3/2024 12:50

Also out a few days ago - making my fortune selling too soon ;)

Good luck those still in - still have SHED.

[essentialinvestor] 12/3/2024 11:43

Spec, very nicely traded, congrats.

I sold mine too cheaply, expecting a second sub 70 pence dip - which did not happen.

[spectoacc] 08/3/2024 11:01

UKCM/BBOX's agreed merger has just had a PUSU extension, can imagine we may get the same thing with 3-way API, SHED, CREI..

Edit - a reminder the current PUSU is a week today, Friday 15th.

[nickrl] 04/3/2024 09:34

@pharmaboy

[pharmaboy3] 04/3/2024 09:02

Do you have a link, please nick

[nickrl] 04/3/2024 08:46

At least CREIs plea to API shareholders this morning hasn't included any extra cash which is good as we don't need to pay anymore.

[nickrl] 29/2/2024 08:38

@Sky that struck me as it has with others that single sale assets are achieving on average above most recent valuations. Also here one of the buildings sold recently is in my neighbourhood and has been empty for years to a developer given planning application has appeared for the site.

[skyship] 29/2/2024 07:26

nick - thnx for that - YES - missed it due to the interminable broker dealing declarations.

It was a pretty noteworthy statement that deserved more comment. Yet more evidence that valuers are being over-conservative and not reflecting true marketable values.

[nickrl] 28/2/2024 23:29

@Sky yes



but if your like me the inbox is getting flooded with RNSs galore from all the reits i have email alerts set up for due to the wave of mergers so easy to miss them. At least LXI/LMP will done this time next week.

[skyship] 28/2/2024 20:31

"CREI seem to be building up a cash sweetener?"

How come? Has there been an RNS of a property sale?

[spectoacc] 28/2/2024 16:31

CREI seem to be building up a cash sweetener? Do hope not.

Nice premium tho.

[nickrl] 27/2/2024 19:34

BoDs should recommend neither unless they have no faith in Baggley

[essentialinvestor] 27/2/2024 15:04

ii's likely to plump for enhanced liquidity and that indicates SHED.

Potential opportunity in SHED shares, particularly if they get shoved lower.

[stockstockham] 27/2/2024 15:02

API trades at a discount because the acquirer will fall further, and it's all-share.

[spectoacc] 27/2/2024 14:47

Can't remember one like this before - every time the market thinks one might have got it, the share price of the other rises, and then they're in the diving seat instead :)

PUSU is 15th March so a while to go yet.

Wonder if the key is if API switches its recommendation from CREI's offer to SHED's. That dialogue is surely ongoing.

Whoever chucks some cash in, or chucks some jobs to the API lot, or ups a little, may get it. Find it hard to see API staying independent.

[skyship] 27/2/2024 14:47

API trading at a discount to both bids...

[essentialinvestor] 27/2/2024 14:39

* increasing the bid an unlikely option - the share price of that company would face further downward pressure.

Might be too rudimentary a take, but that's how I see it - and yes, neither may end up with API.

[spectoacc] 27/2/2024 14:30

Trying to work out the odds of staying in CREI & SHED. One may be successful (and fall), one may be correspondingly unsuccessful (and rise). Or neither succeed, and both rise.

But what if the successful, faller, is successful by increasing their bid...

CREI is the better fit, SHED has more firepower.

[essentialinvestor] 23/2/2024 16:01

The last logistics asset CREI sold was 7% Above NAV, from memory - would need to double check.

[skyship] 23/2/2024 09:34

Specto - yr comments re NAV fly in the face of all evidence. Why do you think ALL the REIT bids you were posting about earlier this week base their offers upon NAV - ALL, without exception. NAV relates to the underlying values of the business. Your blind spot on this issue is frankly bizarre.

Still; if you can profit by ignoring the facts, then power to you!

Over & out on this non-issue.

[riverman77] 23/2/2024 09:33

I agree NAVs not perfect, but in trying to gauge the relative value of the 2 bids, I think reference to NAV is a much better guide than the fluctuating share prices. SHED has consistently sold properties in line or above NAV which suggests it's a reasonable measure. Earnings yield also a good guide and take that into consideration.

[spectoacc] 23/2/2024 09:26

Thank you for your kind words, @Skyship. I've endlessly pointed out the fallacy of trusting NAV, and dare I say have been proven entirely correct.

NAV relevant for LTV, but little else.

But no point me repeating the evidence again. I'll save my 50 post limit for elsewhere.

None so blind as those who won't see.

[skyship] 23/2/2024 09:23

riverman - Specto makes many well-researched and insightful posts; but in his personal quest to achieve 50 posts/day, he often posts, to use his words - Utter bunkum.

His 294 above in the latter category.

I agree with your comments re NAV - a useful tool; though at the moment I'm majoring on those income streams which are providing so many secure 8%+ yields.

[riverman77] 23/2/2024 09:14

I think reference to NAV is a much better way to gauge value than the current share prices, which can just randomly move around. NAVs aren't perfect but pretty good measure of underlying value for REITs. Put it this way, if SHED share price falls 10%, it doesn't mean the underlying value of its portfolio is suddenly worth 10% less. GROW is completely different and no idea what relevance that has.