Ing Uk Real Estate Income Trust Share Discussion Threads

[alanji] 29/10/2010 09:33

Thanks Tilts - As IRET have a 9% covered yield and a 26% discount, presumably they are saying sell pretty much everything else!!!!!!!

BTW there is a new thread

[tiltonboy] 29/10/2010 09:29

"In light of the impending UK austerity cuts and global debt refinancing issues, we continue to be cautious on the overall market backdrop and our recommendations on ING UK Real Estate Income (IRET; Reduce)"

[alanji] 29/10/2010 09:25

Tilts - did they give any reasoning?

[tiltonboy] 29/10/2010 09:01

Oriel have reiterated their Reduce recommendation on IRET this morning.

[skyship] 28/10/2010 09:09

The Real Estate sector has risen by close to 25% since end June - typified by BLND & LAND as shown below. Contrast that performance (indeed outperformance against the climbing wider market) with the laggards - the small caps as typified by IRET & MCKS, also see below.

Might we soon see a trickle down effect to the seconday and tertiary players perhaps - certainly hoping so!

[skyship] 25/10/2010 12:11

A "steady-as-she-goes" type of statement, with underlying asset management moves confirming minor income improvements. Yield reaffirmed with another 1p dividend next month; yield = 8.7% @ 46p. NAV discount = 22%, or 27% to the EPRA NAV, ie exc the accounting mark-to-market adjustments:

[skyship] 12/10/2010 16:34

Good 2-way trade again today @ 46.75p & 47p. Still waiting for the tap to close so we can make our way to that 50p level!

[skyship] 01/10/2010 18:03

To close off an encouraging week 191k bt in auction @ 47p

[skyship] 01/10/2010 15:44

Further 300k purchases hoovered up so far this afternoon - fortunately just after I added another 15k - which don't show on ADVFN, so presumably they are over on PLUS. These look to me as though we could see 50p next week....

[skyship] 01/10/2010 13:20

All pretty small and irrelevant - but shows an encouraging attention to detail and a willingness/need to communicate with shareholders.

[skyship] 24/9/2010 16:34

Quite substantial buying again today - 750k hoovered up @ 45.5p

[envirovision] 21/9/2010 14:48

Glad i got in just before it, a second purchase this AM for me.

[skyship] 21/9/2010 14:45

That 400k purchase @ 45p may be the deal that turns this ship around.

[skyship] 21/9/2010 14:43

LG - added what ADVFN term the Long-term chart. Looks like medium-term to me. Shown below is the chart since the IPO.

ALAN - Bonnes Vacances. We were away for one week & totally without internet access. Nowadays though, in France one gets the paper on the same day. Portfolio did well in my absence, thanks yet again to EML.


free stock charts from www.advfn.com

[alanji] 21/9/2010 08:48

Skyship - Hope you enjoyed your holiday - I have just started two weeks with limited internet access. No idea why IFD rise although very welcome, even if I did switch half my holding to IRET.

[lord gnome] 20/9/2010 21:28

Thanks for the new thread. What happened to the longer term chart?

[skyship] 20/9/2010 19:34

Let me know if anyone wants me to add any other links...

[skyship] 20/9/2010 19:32

Totally agree; also the old thread title is hardly relevant - so I've started a new thread:

[skyship] 20/9/2010 19:31

ING UK Real Estate Income Trust – "IRET"

ING UK Real Estate Income Trust Limited is a closed-ended investment company, domiciled and incorporated in Guernsey and listed on the London & Channel Islands Stock Exchanges.

The Company invests in property in the UK, the Isle of Man and the Channel Islands. The Property Portfolio is managed by ING Real Estate Investment Management (UK) Limited, a member of the ING Banking Group.

On 20th Sept'10, the date of the launch of this new thread, IRET stand at 45p versus a 30th Jun'10 NAV of 59p (23.7% discount); and on a well-covered 4p dividend (paid qtly) the yield = 8.9%. Sentiment is currently wholly anti the sector, mainly due to the supposed threat of wholesale Bank sales at some near-term date; but the quest for yield during the regime of a 0.5% Base Rate might well make this a good buying opportunity.

IRET appears to be a well-managed group, with powerful friends, yet arguably the shares offer a significant under-valuation.

WEBSITE:



Interim Report for the 6months to 30th June 2010:



Extract from Chairman's Statement:

Your Company has had a strong start to 2010, reporting a 7% rise in underlying Net Asset Value per share over the period. In addition, and differentiating it from many of its competitors, the emphasis on cashflow has ensured that we have delivered a fully covered dividend over the period, despite the ongoing challenging conditions of the underlying occupier markets.

Most notably, during the period we announced and completed the successful takeover of Rugby Estates Investment Trust Plc, the first takeover of a REIT by an offshore company since the UK REIT legislation was introduced. This transaction has further enhanced the underlying property portfolio, in a manner that was accretive to Net Asset Value for our existing shareholders...."

Industry STATS:



Link to an ADVFN – commercial property thread – "CP+":

[envirovision] 20/9/2010 12:03

Snap, the 9% Covered Yield is far to tempting for my. The 18843 trade was my Buy for my sip after some profit taking on IFD. (I have no idea either, but will certainly be back in at 40p).

This thread could do with some charts on it.

[asmodeus] 20/9/2010 11:14

Topped up what, with 10k, please, Skyship? (Presumably IRET) Sorry, thought I was on another thread!)

[skyship] 20/9/2010 09:22

Topped up with 10k @ 44.95p - the well-covered yield = 8.9%! Perhaps IFD profit-takers will switch here.......though why IFD are back up to 44.5p beats me!!

If you're back from your hols - any update views Alan?