We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Downing Renewables & Infrastructure Trust Plc | DORE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -2.50 | -2.96% | 82.00 | 08:53:39 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 83.00 | 82.00 | 83.00 | 84.50 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 18/12/2024 10:57 by hpcg Crickets share price wise on the completion of the wind farm sale. Long may the buyback continue as at the 35% discount to NAV it is printing money for shareholders. With the RCF fully paid there is no short term interest rate variability within the portfolio; swaps at the portfolio level go into the 2030s. It comes down to what spread investors want over the 5 or 10 year, whichever their benchmark should be. |
Posted at 22/10/2024 15:50 by spangle93 Latest investor meet presentation is now online for catchup |
Posted at 11/6/2024 07:58 by mwj1959 The update was fine and comforting. At 78p DORE trading on a 34% discount and a 7.5% dividend (on 2024 tgt). Discount at the high end of the Renewables and Infrastructure universe, but dividend in bottom half. The problem with the company is its size and lack of liquidity. At £140m mkt cap it's too small from a liquidity perspective to be of interest to the majority of Institutional / Discretionary investors. This point was emphasised to me by one of the former the other day. DORE are clearly not the only one in that bucket currently, but it does mean that, outside any major corporate action (there is no continuation vote scheduled as far as I am aware) or collapse in bond yields, there is unlikely to be any material narrowing of the discount. So this remains very much an income stock to me with the potential at some point for some capital upside. |
Posted at 13/4/2024 08:07 by spangle93 Citywire commentconcludes... Given the shares are trading well below par, the fund cannot raise cash through the public market, so Downing is considering finding a co-investor for the Swedish hydro portfolio, which totals 20 assets, validating the NAV and helping also to drive a rerating in the shares. Williams said they could sell other assets to generate more cash, but solar in the UK is pretty well marked to market already. Debt stands at 40% of gross asset value, costing 5%-6%, Williams said, pointing out that they could use excess cash to pay it off within two years, but the cash was better used investing in hydropower. Deutsche Numis analyst Colette Ord said the addition of the non-generating assets was a point of difference versus peers and highlighted both the breadth of DORE’s mandate and focus on diversification of both technology and revenue stream. She added that the 36% discount was 16% below its sector peers, ‘which in-part reflects the fund being viewed as sub-scale’. |
Posted at 12/4/2024 17:40 by mwj1959 There is clearly a sector wide issue in terms of share price performance and the scale of some of the discounts. There are clearly more buyers than sellers, even with a (modest) buyback in place. The relatively low dividend has clearly not helped and even at the current high 30s discount the yield is "only" 7.7%. This is a 300bp+ pick-up relative to a 10yr Gilt, which I think is now reasonable in a vehicle that is geared and has NAV sensitivity to a number of factors. I'm happy to buy for the yield and wait and hope that there will be some discount narrowing on the back of future rate cuts / lower government bond yields. Even a share price recovery to 85p (where it was under a month ago), still a high 20s discount, gives you a 20%+ TR. Risk / Reward looks tilted in investors' favour at current levels, but there is definitely a need to be patient. An add for me. |
Posted at 12/4/2024 15:55 by spangle93 Recording and Q&A from yesterday's presentation is available hereAbout half the asset value is UK solar, but the other half is European, primarily Swedish hydropower, where the NAV actually increases with time. While I'm certainly not an expert, this does seem to be a well run company, with inflation-linked revenue for years to come, and a long time before debt needs renewing. Perhaps this is a real bargain because it's in an unloved sector? Otherwise, I'm not sure why the discount is widening so much |
Posted at 30/1/2024 18:19 by spangle93 I watched the investor meet presentation yesterday - it probably didn't add much if you already know company, but I was cheered by the diversification of exposure, by renewable type, and geographical region.Slides are here Presentation is here |
Posted at 20/9/2023 08:46 by the deacon Recording of the Investor Meet Company presentation. A lot to like..https://youtu. |
Posted at 13/6/2022 06:07 by jonwig Presentation 16 June at 9:30am. Register here:Have applied for some of the offer for self and wife, though below the maximum. |
Posted at 15/5/2022 21:21 by melloteam Mello2022, the popular three-day Investor event takes place on 24TH-26TH MAY at the Clayton Hotel & Conference Centre, Chiswick, W4. The breakdown of the three days is as follows:Tuesday 24th May, 9am - 6pm - Mello Investment Trusts and Funds (WE ARE GIVING AWAY 20 FREE TICKETS TO THE TRUST AND FUNDS EVENT - THE FREE CODE IS FIRST20TF) Wednesday 25th & Thursday 26th May, 9am - 6pm - Smaller Growth and Mid-Cap Companies (Tickets for 1 day are £115 and tickets for 2 days are £189. To get 50% off, use code MMTADVFN50). Just to let shareholders and prospective investors know that DOWNING LISTED INFRASTRUCTURE INCOME FUND will be among the Trusts and Funds attending. There will also be keynote speakers such as Lord John Lee, Andy Brough, Rosemary Banyard, Clarke Carlisle and Gervais Williams. For more information, please visit the event webpage: |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
