Ediston Property Investm... Share Discussion Threads

[ramellous] 28/8/2020 21:46

Is yours at ii too?

[ramellous] 28/8/2020 21:13

It seems that today’s dividend has been paid to me gross in my ii sipp. The divi rns said this was being paid as a pid as usual so should have been paid net of 20% tax. Anyone here the same?

[1tcm1] 27/8/2020 11:04

Here is the list of shares upon which spectoacc has been making fatuous comments in precisely the last 3 months. 50 in all!

It seems like many more than that doesn't it? Aren't we lucky to be having such a compendious nutter-troll to help us with our investment decisions?

AEWU,
AIRE,
AJOT,
ALM,
AVCT,
BCPT,
CRS
CYN,
DSM,
EDIN,
EPIC,
ERO,
ESP,
FAIR,
HCFT,
HOT,
HWSL,
IPO,
JEFI,
JZCP,
KKVL,
KKVX,
KMR,
LXI,
MMIT,
MVI,
NRR,
NSI,
PE,
RLE,
RSE,
RSG,
RUTH,
SHED,
SIR,
SPDI,
SPPC,
SQN,
SREI,
SSIF,
STP,
SUPP,
SWG
TFG,
UAI,
UTL,
VIN,
VSL,
W7L
WHR,

[spectoacc] 26/8/2020 07:40

True; tho in some cases CVAs can produce opportunities to ditch a struggling tenant and rent to a stronger one, has happened a few times. But agree re state of retail market suppressing rents everywhere - EPIC's appeal being how much is in the price.

[nickrl] 25/8/2020 17:50

Specto theoretically they should be able to hold the line on rents, or at least offer some resistance compared to high st/shopping centres, but retailers have got the upper hand and suspect they will challenge rent everywhere they can. They are also exposed to CVA's on a number of units but have a bit of upside on increasing divi again but presumably we won't get a view til next results announcement.

[spectoacc] 25/8/2020 16:26

Agreed, interesting report on it recently, pointing out how people are keen to avoid public transport, being more likely to drive to a retail park than get a bus to a town centre.

EPIC's rent collection has been impressive, 80% pushing 90% even through the worst of it.

[nickrl] 25/8/2020 16:04

Springboard reports that retail parks have seen the strongest recovery and are now at 85% of last year’s footfall. High Streets are at 60%. Retail parks could find social distancing less of a problem. Certainly many High Street shops seem to be adopting a one-in, one-out policy or are restricting numbers to a handful of people.

When will investors start to realise that not all retail is the same!

[flyer61] 10/8/2020 10:16

Have started to dip my toes in this one. I like the margin of safety on offer.

[nickrl] 06/8/2020 14:48

They've previously reported 3.1% rent lost due to CVA's but I suspect with the plethora of CVAs in train this is probably creeping up further. So this doesn't leave much more to get from the can't pay brigade but what they have secured in Q3 is pretty good for a largely retail play yet share price doesn't respond to what is an c8% yield with upside.

I should top up but im so under water already I feel i can't as its clear that even with reasonably positive news throughout there seems to be constant sellers although no RNS changes have shown up.

[skyship] 06/8/2020 07:26

Suggests to me that the dividend will need to be increased from the temporary 0.3333 /month level

Quarter 3 rent collection update

Rent collection for the quarter has progressed in line with previous forecasts, with the monthly rent payers continuing to meet commitments. As at 5 August 80.5% of the rent due by 1 August has been collected. The Company will have collected 90.4% of rent due for the quarter ending 30 September 2020 if the tenants who paid monthly for July and August continue to make payments for September. On this basis, the current dividend level would be 130% covered by rent collected (less expenses) for quarter three and potentially as high as 140%, after taking into account deferred rent covered by payment plans.

[spectoacc] 06/8/2020 07:23

Continuing to do what it says on the tin, but the question for me is - are those missing rents (c.10%/qtr) recoverable after the moratorium ends in October, or are they/will they be CVA'd etc? EPIC cheap without them, but very cheap if there's a lump of catch-up income due in Q4.

[spectoacc] 05/8/2020 11:32

On not a lot of (reported) volume too.

[skyship] 05/8/2020 10:21

That's sure a sudden move better - they were still on offer at 51.3p earlier - now 53.5p Bid...

[spectoacc] 28/7/2020 07:53

The 48.5p close was on 196 share UT, seems to be c.48.5-51.4 ish. Agree little incentive to punt, but perhaps how the MMs want it.

[skyship] 28/7/2020 07:22

CJ - yes, the ludicrous spread here surely must work against the MMs own best interests. 48.5p-51.5p can't provide much encouragement for short-term traders.

[cousin jack] 27/7/2020 21:26

Today’s 9.5% fall nearly tempted me in but on closer look it’s largely due to a widened spread. Under 50p looking distinctly possible though.

[ramellous] 23/7/2020 09:57

Skyship I’m still in epic but bailed finally the other day from nrr into FRES, Fresnillo silver mining. Storming up yesterday and this morning

[nickrl] 23/7/2020 09:42

I reckon rent collection is better than expected as the landlords have been earning there fees working the issue with tenants and coming up with payment plans. In respect of EPIC and others with retail parks im not sure they are the problem sites for the big tenants, well certainly not around my area they seem to be well used, and with cost effective rents might as well just push for monthly rents and concentrate rest of my efforts bashing down my rents in Hammersons centres.

On the face of it I ought to be topping up but these as nigh on 8% yield now which looks reasonable secure (as anything is) but already my biggest holding so im wary as market always has a downer on them.

[spectoacc] 23/7/2020 08:55

Wow hadn't seen the silver spike, well done.

90p NAV going to get worse before it gets better, but 96% back open, 6% vacancy rate, 88% Q3 collection including monthlies. 130% covered divi.

I'd say 51p more than accounts for everything. Surprised how good June qtrs have been for most.

[skyship] 23/7/2020 08:45

Agreed. Being totally out of the sector having banked the quick turn in PCA, decided to join with a few @ 51p (showing as a sale).

A small allocation as still nervous and high cash; though enjoying the great run in silver (PHSP) - expect that to continue much higher - great chart suggests 2100.

[spectoacc] 23/7/2020 07:13

Pretty good this morning I reckon - only skimmed so far.

[spectoacc] 22/7/2020 13:19

Was a strong t/s from KGF, tho they did mention e-commerce as a driver. A real split between the winners & losers - B&Q I can def imagine are doing v well.

[hugepants] 22/7/2020 12:41

Kingfisher (owner of B&Q which is 9% of the portfolio) doing well today. Up 12% and well up since start of the year.

[jombaston] 08/7/2020 12:39

The newspapers have been reporting poor rent collections for June but the REITs I follow have mostly been reporting improving collections, partly because they have ironed things out with problem tenants and/or more tenants are back to full trading.

In the short term my sense is that things are turning out better than expected/portrayed by the media. Long term, there are plenty of views to chose from!