Ediston Property Investm... Share Discussion Threads

[hugepants] 21/1/2021 12:17

"...However, Bruce (pictured) said the resilience of the sector ('retail warehouses') – to which EPIC is 64% invested with the rest in offices.." I think they are actually 64% retail warehouses, 10% supermarkets with the rest offices.

[nickrl] 21/1/2021 11:55

Plenty of others have been bullish about there retail pk assets seeing near normal footfall and a fair few pks have been sold on at lowish yields over the last 12mths so there is still a mkt. Rental collection is at a sustainable level that should ensure we at least get a special divi at year end even if they maintain lower rate for rest of the year. Beyond Haddington devpt though this is a steady as she goes operation so wouldn't be surprised to see a capital raise here as bound to be more opportunities this year.

[spectoacc] 21/1/2021 10:29

"Well, he would say that". But an interesting read, perhaps marred a little by the last few paras where they state how badly EPIC has done, inc the divi cut. Still a fan tho - discount, yield (which will rise), rent collection during lockdown, going to be well-placed for the new normal. Https://citywire.co.uk/investment-trust-insider/news/stop-ignoring-pandemic-proof-retail-parks-says-epic-s-bruce/a1452619?ref=investment-trust-insider-latest-news-list

[nickrl] 11/1/2021 16:38

BLND today extolling the virtues of there open air retail parks "Well located, open air retail parks have continued to play an important role for retailers and demonstrate operational outperformance with footfall 87% of the same period last year, 32ppt ahead of the UK market benchmark. Retailer sales for stores that were open on our retail parks were 85% of the same period last year"

[spectoacc] 06/1/2021 11:36

I think they'll leave it another quarter or so to see what happens with this lockdown. I'm happy knowing the money's in the co too.

[nickrl] 06/1/2021 11:31

Interim Divi RNS out https://www.londonstockexchange.com/news-article/EPIC/announcement-of-interim-dividend/14816473 Affirms 0.3333 payment with following commentary 96% of the rent due for the quarter has been collected at the date of this announcement, which is in line with previous forecasts. The current dividend level is 136% covered by rent collected (less expenses) for quarter four. Im presuming this refers to rents due 25/12 and if so is very good position and surely must allow an uplift in divi now.

[nickrl] 16/12/2020 10:53

A few other observations Inv Mgt Company has given us 40k pa discount on charges and 20% of fee will be paid in shares and with lower NAV its dropped by 0.4m. Small investors have increased on the register CVAs have cost 6% of NRI - EPIC have right to move out tenant though as when they get suitable replacement. Rent collection at cash level, ignoring whats still owed, they easily cover 4p pa so with REIT rules i would forecast 0.4p/mth is sustainable. Doesn't look like they have many issues with can pay but wont merchants so limited bonus likely to arise from ending of the moratorium. Restoring dividend to previous level needs the vacancies filled and replacement tenants for CVA units who are going to pay a fair rent.

[spectoacc] 16/12/2020 08:25

Waiting longer on rent collection before increasing the divi, but reads well. Best to ignore the 3 years of NAV falls tho :)

[spectoacc] 03/12/2020 08:57

Let's hope momentum continues.

[cwa1] 03/12/2020 08:44

Indeed. Will be interesting to see who the counterparty is. Nice to see that Momentum are keen

[owenski] 03/12/2020 08:21

Quite a chunk bought up.

[spectoacc] 03/12/2020 08:19

Interesting stake building RNS this morning - but who was the seller?

[clausentum] 02/12/2020 15:29

I feel relaxed holding EPIC, the share price increase since October has been nice and steady, compared with volatility of RGL and SREI.

[spectoacc] 02/12/2020 14:41

Missed that, thanks. 94% collection with more to come next year. Slightly surprised they haven't upped the divi already, knowing the 90% rule, but an increase ahead if 134% covered. MMs still keeping a nasty spread.

[nickrl] 02/12/2020 12:49

Monthly dividend confirmed at 0.3333p/mth. https://www.londonstockexchange.com/news-article/EPIC/announcement-of-interim-dividend/14777910 Quarter 4 rent collection update At the date of this announcement, rent collection is in line with previous forecasts. If the tenants who pay their rent monthly continue to do so, it is projected that the Company will collect 94% of the rent due for quarter 4. On this basis, the current dividend level would be 134% covered by rent collected (less expenses) for quarter 4. Must be scope here for a bit of an uplift when they announce finals.

[flagon] 23/11/2020 16:42

Retail bargain? Covid-19 underscores opportunity in unloved retail parks 23 November 2020 Ediston Property Investment Company's Calum Bruce considers the continued need for physical retail and the benefits of being out-of-town in terms of adhering to social distancing measures. Link : hTTps://www.trustnet.com/News/7852933/retail-bargain-covid-19-underscores-opportunity-in-unloved-retail-parks/

[spectoacc] 19/11/2020 10:15

Currently 63.3p to sell, 65.5p to buy (25k), but MMs been enjoying this spread for a while, including selling at 66p to the unwary.

[spectoacc] 18/11/2020 10:32

Comes down to value, yield, rent collection, vaccine possibilities - agree there's more to go, particularly if/when NAVs stop getting marked down and start climbing again, possibly within 12 months. Easier to trade in/out when there's clear value, harder when they've all gone up :) Divis being restored also a good sign - EPIC ahead of the pack in that.

[clausentum] 18/11/2020 10:16

It was so easy to decide to buy EPIC in October at 50, the only difficulty was which of the bargain REITs to choose. Now RGL, EPIC, SREI etc still seem to have further capital gain potential, but I am finding it psychologically hard to put further money into them because of the 30% rise I have missed. I currently have equal amounts in these 3 REITS, and a long term holding in SHED which is safe but with limited near term upside.

[owenski] 17/11/2020 19:50

Wasn't expecting to make such capital appreciation on this, bought it as an income stock. :-)

[spectoacc] 12/11/2020 11:55

XD today, but too small to bother the s/p, and all trades over 60p today.

[spectoacc] 09/11/2020 11:33

Sold a wee few at 59.4, couldn't resist the spike, but seems a good market.

[gary1966] 05/11/2020 15:36

As I said, nailed on now I have sold.:-)

[spectoacc] 05/11/2020 15:34

Good luck, going higher I reckon ;)

[gary1966] 05/11/2020 15:13

Well I have taken a chance and sold in the hope that they may retrace a little, as I would like to increase my holding, with the 2 and 14 day RSI running at nigh on 100 and 74 respectively and they have moved up from 46 to 56.5p since the 6th October. Usually get it completely wrong and so you should all be good for a continuation of this fine run up to 65p at least!! GLA