Ediston Property Investm... Share Discussion Threads

[spectoacc] 23/7/2021 08:15

I'd guess Stadium still a long way off being done, saw no large trades reported after close yesterday.

EPIC not a difficult one to sit on tho.

[playful] 23/7/2021 08:13

If we do not see 72p+ on the bid today I’m a leprechaun!

[playful] 22/7/2021 21:29

I would hazard a guess the Iceberg has melted 😃

[cwa1] 22/7/2021 16:36

Decent volume today. Chipping away, ever so slowly, at the iceberg...

[brucie5] 22/7/2021 14:28

Thanks guys, and kenmitch on MW. I wasn't aware of this one... But now I am. Bought a few to complement my aewu & rgl.
Things to like: the discount, the dividend, & the sector, retail warehousing.

[ramellous] 22/7/2021 11:12

I also took a few off Stadium’s hands this morning. Brings my avg to 79p though. Would like to see above the waterline sometime soon.

[spittingbarrel] 22/7/2021 11:05

I felt I had to buy more this morning, quite overweight now.

[skyship] 22/7/2021 10:55

nick - as I said in my 578 above, a 5.5p divi looks pretty well baked in.

So at 69p we have an historic yield of 7.25% and a prospective 7.97% - the highest yield in the sector and even slightly higher than AEWU. But we also trade on a 20.9% NAV discount versus just 4.8% for AEWU.

[nickrl] 22/7/2021 10:46

Change in strategy puts this as a pure retail park play once executed. Given BLND also declaring retail parks positive now price in this sub sector may start to shift so good to hear they have one on the blocks to absorb Prestatyn sale. The offices they hold should shift to the likes of RGL but how long will that take and what will have happened to retail parks pricing by then. This will hold the dividend back until this plays out i suspect especially if the offices get picked up quickly. Anyhow 7%+ yield becoming rarefied now.

[alan pt] 22/7/2021 10:23

Announcement appears on LSE once you untick "Show only Earnings, News and Reach" -
I've had the same problem once before and I think it was also with EPIC, maybe some glitch in how they upload?

All good news though!

[skyship] 22/7/2021 10:19

playful - looks as though Stadium have just slipped out another 250k @ 68.4p...

[hindsight] 22/7/2021 09:18

Agree read well and NAV rise has reduced LTV my main worry so just added via book

[spectoacc] 22/7/2021 09:08

Assuming they're now not in a closed period, I'd like to see some director buying next.

[playful] 22/7/2021 08:54

Just a gut feeling but I could be wrong.

[theprovosts] 22/7/2021 08:54

Why is the latest RNS not on the standard LSE or investegate page? I only saw it through ADVFN "level 2" news "announcement" tab at the top.

ala

londonstockexchange.com/stock/EPIC/ediston-property-investment-company-plc/company-page

Keep up the good work EPIC!

[skyship] 22/7/2021 08:51

"...hazard a guess..." - well, no signs in the trades, so any specific reason for that comment? Other than of course they are sitting there waiting to drop another 500k if given some good volume.

[playful] 22/7/2021 08:47

I would hazard a guess Stadium have put another lump on the block.

When opportunity presents itself, don't be afraid to go after it.

[skyship] 22/7/2021 08:16

What a tremendous Update. Had only an 8% allocation, so upped that to 10% this morning. At 68.4p the discount = 21.6%; and the yield on the historic divi of 5.0p = 7.31%.

Maybe I should go back for more!

[ec2] 22/7/2021 08:11

Small property fund like this, deeply discounted and offering such a good index linked yield could get snapped up by private equity or a large pension fund manager.

[rat attack] 22/7/2021 08:07

Zero reaction and now 22% discount to NAV!

[spectoacc] 22/7/2021 07:56

Know nothing about Stadium, but could be as simple as having a loan up for repayment, or bonds to redeem.

If it's for investment elsewhere, good luck to them finding something as favourable as EPIC.

[cwa1] 22/7/2021 07:53

I know that there's all kinds of reasons-but it makes you wonder why Stadium want out so badly...

[flyer61] 22/7/2021 07:52

as briefed!

[playful] 22/7/2021 07:30

Well done Calum & team!

[spectoacc] 22/7/2021 07:17

All very positive, and an intention to move away from offices, which is right IMO. A lot to like at EPIC, just a large overhang to clear.


"· NAV per share at 30 June 2021 of 87.19 pence (31 March 2021: 84.26 pence), an increase of 3.48%.

· Fair value independent valuation of the property portfolio at 30 June 2021 of £253.4 million, a like-for-like increase of 2.66% compared to the valuation at 31 March 2021.

· Increase driven by improving investment and tenant demand within the retail warehouse sector. Retail warehousing constitutes 70.20% of the portfolio. Office valuations were stable.

· NAV total return (including dividends) for the quarter of 4.9% (31 March 2021 0.7%).

--------------------------------------------------------------------------------------

· The development of Haddington Retail Park finished on time and budget, and the leases have completed. It will deliver an income return on capital invested of c. 8.00%.

· Completed the sale of a 1.6-acre site at Clwyd Retail Park, Rhyl, to an owner occupier. The net price of £1.2m was 140% ahead of the 31 March 2021 valuation.
"