Invista Share Discussion Threads

[lord gnome] 02/7/2010 14:20

I am trying to buy in, but can't get an online fill at the offer price for the quantity I want (not exactly a huge amount by market standards). I have placed an order and hope I can get filled.

[alanji] 02/7/2010 13:09

I have bought back in, here. Agree with Skyship that the sector is obviously weak, but the buy announced today will assist with dividend cover, which was why I sold. Hopefully more good news in the results due on 12th.

[skyship] 02/7/2010 11:23

Problem is that the sector is now so out of favour, just look at the charts of the stocks in the header of the cp+ thread. LSR, MCKS, TEIF - all good yielders but the sps falling and the NAV discounts rising. Admittedly its a drift in low volume; but for the timebeing the end result is the same - capital being salami-sliced!

Property will have its day in the sun again for sure; but for the moment not sure when...

[envirovision] 02/7/2010 10:40

It also highlights the targeted quality of the income streams, a key feature of many of the long term blue chip tenants across its portfolio.

[nickcduk] 02/7/2010 10:29

Today's announcement is very welcome. Adds around 0.3p per annum to earnings. Another 30 or 40m invested at similar yields will add another 1p or so. Discount here is unwarranted and I expect it to narrow as they acquire more properties.

[envirovision] 21/6/2010 09:50

Hello Lordgnome, yes i was aware of the last ims and took this to mean the cover would be sorted: In summary there is £3.49 million of additional annualised rent receivable by the end of 2012 which will materially add to income and dividend cover. It is also worth noting that where possible fixed uplifts are incorporated in new leases. For example, at Uxbridge, the rent increases from £900,000 in 2012 to a guaranteed £1.02 million per annum in 2014 and as noted above the BT lease at West Bromwich has annual 3% uplifts meaning that by 2016 the rent will be £1.4 million per annum.

my in particular post is a copy from the web site. FWIW I dont see a cut in dividend in anyway shape or form and infact expect an increase in the next 18-24 months. I guess the July IMS should confirm the situation as you say and of course its often wise to avoid anything you have doubts about, however personaly i think unless your expecting further and/or outright collapse of the comercial property market along with the wider market, then avoid for sure. In the last few weeks there has been a seller pushing the price down, i see this as a buying opportunity.

all imo.

[nickcduk] 20/6/2010 12:08

Income cover isn't great here but I think the dividend will be maintained. If they cut then it will only bring to the fore how poor their relative income performance is compared to other listed property trusts. The 2014 continuation vote will also be at the back of their minds. They were also running an uncovered dividend when they launched the trust.

[lord gnome] 19/6/2010 16:48

envirovision - the 0.88p per qtr dividend is not fully covered at all - in fact it is only 50% covered by earnings. I sent an email to the company seeking confirmation of this very issue. If you take a look at the last IMS you will see a section entitled income profile which, outlines income enhancing developments in the pipeline over the next two years and which will close the gap between dividends and income. In the short term I have some doubt that the current level of dividend can be maintained and I will not invest until the next results are out on 12 July and we have some clarity on this point. NAV is currently around 60p and the level of gearing is very low, so the company is good value, although the recent recovery in property prices has come to a shuddering halt and could be turning down again. As I am mainly an income investor, I need confidence that income levels are sustainable and I have some doubts at present.

[envirovision] 18/6/2010 22:48

In particular

Company Background Invista Foundation Property Trust Limited (referred to as the Company) is a closed-ended, Guernsey registered investment company, managed by Invista Real Estate Investment Management Limited. The Company invests in a diversified portfolio of UK commercial property. The Company has an indefinite life but shareholders will have the opportunity to vote on its continuation at the Annual General Meeting to be held in 2014.


Dividend paid per share to 0.88 pence per QTR. now after a package of initiatives taken by the Board following the strategic review which included reducing debt by £50 million and repurchasing up to £20 million of the Company's shares. As a result of the steps the Board has the quarterly dividend fully covered by earnings. It is also the Board's intention to grow the dividend again as market conditions improve.

[envirovision] 18/6/2010 22:40

Hello flat eric, please see the trusts web site where you should be able to find all the info required. I have put it in the header as well.

[flateric] 17/6/2010 15:58

anyone know where i can get a decent summary on this one? not just bits n pieces. thnx.

[lord gnome] 05/5/2010 12:56

Good performance today amongst a sea of red. Goes ex-div and still manages to put on a penny.

[envirovision] 05/5/2010 12:33

UK construction pmi

www.markiteconomics.com/MarkitFiles/Pages/ViewPressRelease.aspx?ID=6462

[envirovision] 29/4/2010 11:07

I do believe we are getting set to start to break out of that 6 month trading range that we have been stuck in since last October Lord Gnome.

[lord gnome] 28/4/2010 11:24

Thanks - much better.
No position in these, yet, but looking to buy for my 2010 ISA.

[envirovision] 28/4/2010 11:09

Interim management statement today showing NAV increase to 52.4p at 31 March 2010. This is a 20%+ discount to the current share price

The dividend confirmed, which is 0.88p per quarter making 3.52p p.a. This gives a stonking covered yeild of 8.2%.

Banks debt seems in order with good cover. Seems a perfect income stock for an ISA with good growth potential imo.

[envirovision] 28/4/2010 11:08

I have started a new thread with charts, just do a search for IFD and you will find it or try the following link:

[envirovision] 28/4/2010 11:02

Further info from the trusts web site:

This trust has been renamed SCHRODER REAL ESTATE INVESTMENT TRUST LIMITED please see new thread SREI

[envirovision] 05/3/2010 12:51

maybe its time to start a new thread skyship with up to date info and charts etc?

[skyship] 05/3/2010 07:46

Further good news on the quest to cover the divi - if it isn't already covered!

[skyship] 22/2/2010 16:59

A net initial yield of 7.6%, a blue chip tenant and attractive lease terms - all seems pretty good value for IFD.

[investinggarden] 22/2/2010 10:57

Invista's acquisition for Foundation Property Trust

[skyship] 17/2/2010 11:36

I sold out @ 44pXD, but have bt back in again @ 42.2p + a top-up @ 42p today as there seems to be some hoovering going on at that price. At 42p the yield on a 3.52p total = an attractive 8.4%.

[skyship] 28/1/2010 16:13

I've bt back into IFD today on the better than expected NAV increase - see below. At 43p the yield = 8.2%



Is there a trend developing here after the similar advance in IRP's NAV?