Isis Property Trust Share Discussion Threads

[alanji] 16/10/2009 13:38

Nick,
thanks. I have also been considering switching some IRET to IRP. Used the last of my cash to buy some at 70.33 this morning - looks a bit too early. Not sure if I posted this on IRET thread but swap cost is about 3.75p and div is well covered on my calcs, so finding it hard to sell.
EDIT: everything is cheap compared to UKCM!!

simon - read the posts just above?

[envirovision] 16/10/2009 13:34

nope, read the interims, board have pledged to maintain it next year allready. btw simon dont take my posts on gaca or llpf personally, i respect what many of you guys posts and research there and for effort outstanding quality of posts.

[simon gordon] 16/10/2009 13:24

Hi Guys,

I'm new to IRP. Have one quick question. How secure is the dividend, is it likely to be cut?

[envirovision] 16/10/2009 13:09

Now if we saw 65p upon this seller then i would have to buy anouther 7K at least if not more! Lets see, i suspect no matter how big the seller was, the market makers wont be giving this away, its allready a steal at 70p :-)

[nickcduk] 16/10/2009 12:43

Ive got level 2 DMA access which is why I picked up cheap stock. I did actually tagged for a small amount at 68 yesterday but had to move it to 70p to get fully filled. Seller obviously still about and in size. On the order book ready to pounce at 65p. With IRET having put in such a strong run I have been selling a few and switching over here. The 7p dividend is ok for another year at least. Looks very cheap versus SLI and UKCM.

[envirovision] 16/10/2009 12:42

its ok i have the info now, so with the board pledging to maintain the divi next year this yeilds over 10%, what a total steal at this price, i've added 7K to my sipp

[envirovision] 16/10/2009 12:23

can anyone let me know when the divi dates are?

[alanji] 16/10/2009 08:13

How did you manage that, Nick? I have been considering buying back in, though dividend is not quite covered. No problem with ltv, though, so div may well be held.

[nickcduk] 15/10/2009 15:22

Picked up 5k at 74 yesterday but got 20k at 70p today. Obviously a seller about spiking the price lower. Looking to add some more. Not many 10% yields left.

[james111] 09/10/2009 16:31

managed to pick up anopther 10000, at the close got them at 79p well within the spread.
Still giving almost 10% yeild paying every 3 months.

[james111] 29/9/2009 16:39

After seeing the financial report I am still happy to stay here and will be looking to top up on any weakness like todays. Where else can you get 10% divi and the prospect of capital gains like IRP, I am spread across quiet a few com props and have confidence that the sector is heading the right way.

DYOR etc etc

Regards
James

[james111] 29/9/2009 16:22

everyone seems to be getting more positive with commercial property stocks. see link below

[james111] 24/9/2009 12:36

just dropped 3p thinking about having a fe more. Annual report due out tomorrow, at least expected out I dont think its confirmed, also dividend payment tomorrow, I love the way the 3 month divis come around so quick and at 1.80p per share makes a hefty payment.

Regards
James

[james111] 23/9/2009 17:56

Maplinrover,
I think we must be trading at NAV or slightly over, the last published NAV was on 30/6/09 when it was 72.9p the concensus is that things are getting better but it would suprise me if it was as high as we are trading today. We are due a valuation at the end of Sept so it will be interesting to see where we are going and at what speed.
If you hunt around you will find other com prop shares at a good discount still. But I like IRP, its steady and gives a great divi every 3 months which even at todays price is well over 9% and the bonus is the capital gain which is coming as things pick up.
I am spread in other property stocks such as

MCKS,SGRO,IPI,WKP,FCPT,THG,

I have looked at many others, of the above some I am very happy with and have no problem holding others are just a punt which seems to be working at the moment.
No advice intended , DYOR etc etc

Regards
James

[maplinrover] 22/9/2009 15:14

James
I came across from one of your other posts so haven't had a chance to look into ipr. On the basis of the last financial figures shown by advfn ipr are trading at quite a discount to asset value. Do you know how this compares with others in the sector and do you have any updated info regarding its possible discount percentage?

[larmor] 17/9/2009 19:28

James,

Sadly not, no money to spare, overweight in property and to be perfectly honest, I got so disillusioned with the market in general I stayed away for a good few months

Larmor

[nickcduk] 17/9/2009 19:21

Why wouldn't you switch over to property trusts that are on discounts to NAV rather than stay in one which is on a premium. IRP is factoring in a 10% increase in underlying property values. If you applied the same rise to IFD and IRET portfolios then their share prices would be 27 and 28% higher.

[james111] 17/9/2009 17:44

Another good write up on commercial property companies.

[james111] 17/9/2009 08:22

Larmor, its getting nearer to your price all the time, did you average down as the price droped ?
Regards
James

[larmor] 15/9/2009 22:33

Hi James,

I have these in my IFA managed portfolio but at an average price of 1.13 (ouch) so I console myself with the divi and the (so far) gradual recovery in the price.

Cheers

Larmor

[james111] 15/9/2009 21:44

hey guys , am I the only one making cash here!!

[james111] 24/8/2009 12:18

More good news, seems like lots of companies now looking for a slice of the action. Can only help com prop prices and companies like IRP.

Aviva's £250m fund to buy in depressed property market

By Mark Leftly

Aviva Investors, the asset management business, is set to launch a £250m fund to take advantage of the downturn in the commercial property market.


The real estate team, led by its chief executive, Ian Womack, has begun contacting potential investors for the so-called "opportunities fund" ahead of an official launch. The fund will be led by Aviva's Chris Laxton.

An Aviva spokeswoman said: "If launched, the fund would look at investing in UK commercial real estate that is attractively priced relative to long-term history. We see this as an opportunity to take advantage of historically attractive pricing and forecasts for recovery providing potential for compelling returns."

The fund would have a five-year lifespan, and is likely to invest only in existing property with secure tenants, rather than speculative developments.

It is understood that the fund would write equity cheques to purchase property, and not rely on bank borrowing. High levels of debt have contributed to the downturn in the commercial property market. Aviva is the latest in an array of firms looking to take advantage of depressed property prices. Blackstone, the US buyout and corporate advisory group, is launching a $2bn (£1.2bn) Special Situations fund in Europe.

In a big week for property, British Land, the FTSE-100 giant, reports its second-quarter results on Tuesday.

It was claimed last week that the company has been targeted by a group led by Indian magnate Lakshmi Mittal. However, it is believed that what actually happened was that intermediaries for a separate group briefly discussed the idea after missing out on purchasing a stake in Broadgate, British Land's famous estate near Liverpool Street station in London.

A source close to the intermediaries said that the idea of buying British Land, which was fleetingly mentioned to the target's advisers last week, was soon dismissed after it was realised that the consortium would have to pay up to £9bn.

Analysts at JP Morgan said: "We are not going to say that takeovers [of British Land] are 100 per cent ruled out, but this looks odd to us." British Land shares closed at 512.5p on Friday, up nearly 4 per cent on start of trading. The company's market capitalisation is more than £4.2bn.