Ediston Property Investm... Share Discussion Threads

[williamcooper104] 15/12/2023 10:58

Yep I've held onto my SRC too

[flyer61] 15/12/2023 10:49

Still have my SRC WC104. They will roll nicely into the rest of our O in the New Year to make a decent position in what is a colossus of a REIT.

[williamcooper104] 15/12/2023 10:29

Yep - and that's not hindsight as we all said so at time If you can't beat them.... So I sold and bought O and SRC (who a few days after i bought them also got a bid from O)

[mindthestash] 15/12/2023 10:03

An appalling strategic decision to sell out at the bottom of the market. Marktime I've started my blacklist on A2 Paper on the wall above the laptop in the study.
Nobody on this board disagreed nor resigned. All culpable. Sold out of this into ukcm and api but regret the loss of this attractive retail shed portfolio

[nickrl] 14/12/2023 23:00

The audacity of them to now boast about how much interest they are earning on the sale cash when they failed to do the same over 12mths ago after selling off the office portfolio.

[flyer61] 14/12/2023 20:31

Glad I got out 8 weeks ago and cycled into other things including O Realty.

Really wished they has just continued on with their knotting.

TRY go do one….

[marktime1231] 14/12/2023 18:47

The boys back at last from their very long jolly to confirm we have all been fleeced. Knight Frank did (or did not do) another internal valuation just for the hell of it as at 15 Dec to show NAV had rebounded back to 86p (probably). Property income was continuing to cover dividends, even now cash on deposit is earning more than debt interest. We have all been robbed by about 15p, we have all been evicted from an excellent 7% yield paid out monthly. Stringing it out for another month just means costs are eroding shareholder returns. An ugly example of the downside to investing when you get bullied in to a squeeze like this. We need to remember the names of the guys who architected this in case they pop up elsewhere.

With the clarity of hindsight the decision to reinvest EPIC proceeds 6 weeks ago (at roughly 4% below par), rolling some in to AIRE and parking some in debt ITs pro tem, has been a smashing winner. Stonking gains in both, up 15% and 6% respectively, and yield better than here. Can't fault the logic of punters hanging on for a near-certain 3-4% over 3-4 months here though.

[spectoacc] 08/12/2023 06:49

Checks are the last thing they want ;)

To be fair, end-December was always given as the date for the cash.

[alter ego] 07/12/2023 22:24

Actually its “chicks for free” but cheques might fit too

[2wild] 07/12/2023 22:18

As long as they can get away with money for nothing and checks for free.

[spoole5] 07/12/2023 14:36

How much longer they gonna sit on it

[skyship] 04/12/2023 13:26

I'm sure you have other distractions to occupy your time!

[marktime1231] 04/12/2023 13:03

WiFi problems in the Bahamas

[spoole5] 04/12/2023 08:23

No divi declared for Dec so assume payout must be imminent

[rik shaw] 14/11/2023 17:38

Until they have received shareholder approval and subsequently liquidated the company. RNS of 29/9 states 'intended voluntary liquidation of the Company on or around 31 December 2023'

[spoole5] 14/11/2023 17:19

How much longer are they gonna hold onto the cash

[2wild] 27/10/2023 11:21

Why would any shareholder not want the money back. There are a whole bunch of RREITs on discounts of 20% to 55%.

[spectoacc] 27/10/2023 09:36

The sale's completed, so that's it. Only way the cash isn't coming back in the next two months is as per the quote above. I don't doubt the Board will be scrabbling around looking for something, but I do doubt the major shareholders would want anything other than their money back.

[mindthestash] 27/10/2023 09:26

Until the moneys handed over provided both parties agree incl costs, most contracts can usually be halted. Both parties have to agree though which seems very unlikely given the approval mandate.

[spectoacc] 26/10/2023 15:29

Not sure what you mean by fall through - the portfolio sale completed on 29th Sept.

Not impossible that "..an appropriate corporate opportunity is identified in the meantime which, in the view of the Board (having consulted with key Shareholders), merits further consideration.." but failing that, the money's coming back before the end of December.

[mindthestash] 26/10/2023 14:52

Just a thought - if for any reason this does fall thru - my guess is the share price will fall significantly in these market conditions. I'm all out.

2nd guess of the day
With the US delivering a galloping GDP upgrade at 4.9% - is it really possible to see their CPI falling next week?
All in all it looks like higher for longer; means higher not just longer. could be a short term chill wind for property/

[marktime1231] 26/10/2023 14:30

Spooked by silence from the board (not in any rush to put themselves on the dole) and a far-fetched fear that a major shareholder might want to activate the "unless" clause, I am fully out today. Some in to AIRE and happy to sit in a little cash for a while and see what the markets do, any lost income offset by the platform paying out a bit of interest now.

[hindsight] 23/10/2023 14:33

Yep rare occasion when feet dragging been helpful

[2wild] 23/10/2023 12:28

I was annoyed that they are dragging their feet for no good reason. They could have done the continuation vote at Same time as the sale vote. However, Many high yields are down around 10% over the last few weeks. Have probably dodged a bullet.