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Share Name Share Symbol Market Type Share ISIN Share Description
Lxi Reit Plc LSE:LXI London Ordinary Share GB00BYQ46T41 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.60 0.41% 148.60 148.40 148.60 149.40 147.60 148.00 1,491,761 16:29:55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 42.8 39.9 7.6 19.6 1,040

Lxi Reit Share Discussion Threads

Showing 326 to 350 of 350 messages
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
DateSubjectAuthorDiscuss
11/10/2021
08:44
Possibly not too long before they tap investors for more money... "The Group has fully and swiftly deployed the net equity raised in both the March and July 2021 oversubscribed capital raises, at an accretive 5.23% average net initial yield. This includes investments in new structurally supported subsectors such as Life Sciences (5%) and Education (3%), both of which benefit from attractive supply and demand fundamentals, robust long-term prospects for growth in ERVs, and on an asset level, strong rent covers, long indexed-linked leases, market leading tenant operators with strong covenants, and good locations with specialist facilities. The Group's pro-forma loan to value ("LTV") ratio at 30 September 2021 was approximately 26%, adjusting for completion of forward fundings and assets for which contracts to acquire had exchanged but not completed. As such, the Company expects to extend its low cost (1.55% margin) revolving credit facility to fund the balance of its pipeline with a view to reaching its targeted 30% LTV ratio level in the near term, with headroom to the Group's medium-term target maximum LTV ratio of 35% as well as the LTV financial covenant that is 50%."
speedsgh
11/10/2021
07:05
https://uk.advfn.com/stock-market/london/lxi-reit-LXI/share-news/LXI-REIT-PLC-Portfolio-valuation-Rent-collection-T/86253532 LXi REIT (ticker: LXI), the specialist inflation-protected long income REIT, is pleased to provide the following update ahead of the Company's half-year results to 30 September 2021, which are expected to be published in late November 2021. Portfolio valuation The Company's independent valuer, Knight Frank LLP, has valued the Group's property portfolio, as at 30 September 2021, at GBP1.22 billion. This represents a +4.9% like-for-like increase over the six-month period since 31 March 2021 and a total increase of +29.7% over that period, including acquisitions and disposals. The like-for-like movements, resulting from both yield compression and rental growth, were spread across the Company's main sub-sectors as follows: Foodstores +5%, Industrial +7%, Budget Hotels +2%, Healthcare +3%, Pubs +7%, Garden Centres +4%, Car Parks +3% and Drive-thru Coffee +2%. Net asset value and total return On the basis of the updated property valuation, the Board expects to announce a net asset value ("NAV") per share as at 30 September 2021, of approximately 133.5 pence, reflecting growth of approximately +6.2% over the six-month period. Inclusive of dividends paid during the six-month period, the Company expects to deliver a total NAV return of approximately +8.6% for the half-year, significantly outperforming the Company's minimum annual total NAV return target of 8%(3) . The Company's total NAV return from IPO in February 2017 to 30 September 2021 is expected to be 59%, equating to a 10.6% compounded annual total NAV return. The Company's total shareholder return since IPO, assuming dividends reinvested was 70%, equating to a 12.3% compounded annual total shareholder return. Rental growth The Group achieved an attractive average rental growth level of 2.9% per annum on assets which were reviewed during the six-month period from 1 April 2021. (Further details on the portfolio rent review terms are set out below.) Rent collection The Company is pleased to report that it has collected 100% of the rent due for Q4 2021. Portfolio statistics The following is a high-level summary of the Company's portfolio as at 30 September 2021(2) : -- 171 properties, 100% let or pre-let to over 70 strong tenants at sustainable levels of rent -- 23-year weighed average unexpired lease term to first break -- 96% of the rental income is linked directly to inflation or contains fixed uplifts: 58% RPI, 17% CPI and 21% fixed uplifts -- All leases require full repairing and insuring by the tenants, protecting the Group from property cost leakage and capex requirements -- Diversified across more than 10 robust property sectors as follows, with the percentages illustrating the weighting of the Group's portfolio by annual rent: o Foodstores and essentials 20% o Industrial 19% o Budget Hotels 16% o Healthcare 10% o Car Parks 6% o Garden Centres 5% o Life Sciences 5% o Drive-thru Coffee 4% o Pubs 4% o Education 3% o Other 8% Portfolio composition The Group has fully and swiftly deployed the net equity raised in both the March and July 2021 oversubscribed capital raises, at an accretive 5.23% average net initial yield. This includes investments in new structurally supported subsectors such as Life Sciences (5%) and Education (3%), both of which benefit from attractive supply and demand fundamentals, robust long-term prospects for growth in ERVs, and on an asset level, strong rent covers, long indexed-linked leases, market leading tenant operators with strong covenants, and good locations with specialist facilities. The Group's pro-forma loan to value ("LTV") ratio at 30 September 2021 was approximately 26%, adjusting for completion of forward fundings and assets for which contracts to acquire had exchanged but not completed. As such, the Company expects to extend its low cost (1.55% margin) revolving credit facility to fund the balance of its pipeline with a view to reaching its targeted 30% LTV ratio level in the near term, with headroom to the Group's medium-term target maximum LTV ratio of 35% as well as the LTV financial covenant that is 50%. In order to continue to optimise the portfolio's performance, the Company has continued to sell assets when it believes this will help increase shareholder returns. During the period, the Company sold a Lidl foodstore in Somerset at a low exit yield of 3.85%, reflecting a 38% premium to acquisition cost and generating an attractive geared IRR of 26% per annum. Outlook The Company has established a substantial and robust long income portfolio diversified across resilient sectors and tenants, with virtually all rental income linked to inflation or containing fixed uplifts. As such, the Company expects to benefit from the current higher inflationary environment and to continue to deliver attractive income and capital returns for its shareholders. The Company is targeting an annual dividend of 6.0 pence per ordinary share for the 12-months commencing 1 April 2021(3) , payable in equal quarterly instalments of 1.50 pence per share. This equates to a 4.5% yield on the expected NAV. NOTES: LXI REIT plc invests in UK commercial property assets let, or pre-let, on long-term, triple-net, inflation-linked leases to a wide range of strong tenant covenants across a diverse range of robust property sectors. The Company aims to provide shareholders with an attractive return, in the form of quarterly income distributions and with the potential for capital and income growth from key strategies which include indexed rental uplifts, pre-let forward fundings, sale and leasebacks, and off-market, value driven acquisitions and sales. The Company is targeting an annual dividend of 6.0 pence per ordinary share for the 12-months commencing 1 April 2021(3) and its medium-term total return target is a minimum of 8% pa. The Company, a real estate investment trust ("REIT") incorporated in England and Wales, is listed on the premium listing segment of the Official List of the UK Listing Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017. The Company is a constituent of the FTSE 250, FTSE EPRA/NAREIT and MSCI indices. Further information on the Company is available at www.lxireit.com The Company's LEI is: 2138008YZGXOKAXQVI45 1 The expected net asset value range is stated after deducting the dividend payable in respect of the quarter ended 30 June 2021 of 1.5 pence per share, which is expected to be paid to shareholders on or around 29 October 2021 and went ex-dividend on 30 September 2021. 2 The portfolio statistics include assets that had exchanged but not completed as at 30 September 2021. 3 These are guidance levels or targets only and not a profit forecast and there can be no assurance that they will be met. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END
skinny
01/10/2021
11:35
Clear logic in LXI getting hold of the only better quality REIT out there IMO, but where's the logic for SIR? More diversification? SIR has a very, very strong management team, would they want to walk away?
spectoacc
01/10/2021
11:22
Reit merger may not be dead in the water - HTTPS://www.investorschronicle.co.uk/news/2021/09/30/reit-merger-may-not-be-dead-in-the-water/ Publicly stalled potential deal with Alton Towers owner raises governance questions for LXi Reit. A £2.5bn tie-up between two UK real estate investment trusts (Reits) could yet be pursued, despite the board of one of the potential suitors publicly rejecting the deal. On 9 September, FTSE 250 constituent LXi Reit (LXI) issued a brief statement to the market in which it confirmed it had held preliminary merger discussions with Aim-listed Secure Income Reit (SIR), but that it was “no longer reviewing the opportunity”. However, the Investors’ Chronicle understands that due diligence by both sides could still resume, amid pressure from some LXi shareholders for clarity and details on the terms of a tie-up. Though investors would not expect to have been canvassed on preliminary merger discussions, LXi’s board is yet to give any public detail on its opposition to the deal. As a result, LXi investors have been left in the dark on why it was first entertained by the investment management teams of both trusts. The situation raises questions of LXi’s governance, and – in the view of one source – opens up a potential three-way tussle between the Reit’s shareholders, board and investment manager Alvarium, which is responsible for the group’s property portfolio and investment strategy. The tie-up is understood to have been pitched as an all-share merger of equals, with Secure Income likely to reverse into LXi, given the latter’s premium market listing. Two institutional investors in LXi said they intended to speak with the board to establish why talks between the two groups stalled, and what Alvarium and LXi fund managers John White and Simon Lee had initially seen in the combination. One said there was “clear industrial logic” to a tie-up between the groups...
speedsgh
20/9/2021
07:05
Correction issued to previous post. DIVIDEND DECLARATION The Board of LXi REIT plc (ticker: LXI), th e specialist inflation-protected very long income REIT, is pleased to declare an interim quarterly dividend in respect of the quarter ended 30 June 2021 of 1.5 pence per ordinary share, payable on 29 October 2021 to shareholders on the register at 1 October 2021. The ex-dividend date will be 30 September 2021. The dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax exempt property rental business.
skinny
17/9/2021
07:14
Dividend Declaration - HTTPS://www.investegate.co.uk/lxi-reit-plc--lxi-/rns/dividend-declaration/202109170700040694M/ The Board of LXi REIT plc (ticker: LXI), the specialist inflation-protected very long income REIT, is pleased to declare an interim quarterly dividend in respect of the quarter ended 30 June 2021 of 1.5 pence per ordinary share, payable on 29 October 2021 to shareholders on the register at 24 September 2021. The ex-dividend date will be 23 September 2021. The dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax exempt property rental business.
speedsgh
10/9/2021
08:03
Interesting. SIR's the only higher quality property IT than LXI IMO. "LXI REIT PLC - real estate investment trust - confirms that it was involved in very preliminary discussions with Secure Income REIT PLC - property company - around a potential merger of the two businesses, but that it is no longer reviewing this opportunity. "
spectoacc
01/9/2021
08:01
LXI REIT PLC Acquires accretive GBP34M of nursery schools.
skinny
23/8/2021
13:55
New Edison update... Swift and accretive capital deployment - HTTPS://www.edisongroup.com/publication/swift-and-accretive-capital-deployment/29848
speedsgh
20/8/2021
07:23
Accretive acquisitions for £80M & Profitable sale - HTTPS://www.investegate.co.uk/lxi-reit-plc--lxi-/rns/accretive-acquisitions-for--80m---profitable-sale/202108200700082395J/ The Board of LXi REIT (ticker: LXI), the specialist inflation-protected long income REIT, is pleased to announce the following acquisitions ("the Acquisitions") for a total cost of £80 million, reflecting an accretive 5.25% average net initial yield (versus a current portfolio value of 4.7%), which benefit from a long weighted average unexpired lease term to first break of 23 years, high-quality tenants, robust sectors and inflation-linked rental uplifts, following the Company's £100 million placing in July this year ("the Placing"). The Company is also in solicitors' hands on a range of pre-let forward fundings and sale and leasebacks, which will deploy the balance of the net equity proceeds of the Placing [cont'd]...
speedsgh
06/7/2021
02:05
ii just credited the LXI shares from Primary Bid to my account after market close today (Monday). II are remarkably fast as I used to use iweb and could take weeks until they credited the shares to my account with them.
apollocreed1
05/7/2021
11:32
Fairly heavily scaled back on PrimaryBid here, wonder how they work out how to do it. No doubt I've annoyed them, after they took a full fortnight after the admission date to get a share into my broker's a/c. Be interesting to see when my LXI turn up.
spectoacc
02/7/2021
12:01
Looks like there's been no scaling back on my application.
speedsgh
01/7/2021
21:55
I applied for £30k worth of shares through PrimaryBid and was allocated £28k worth. Happy with that!
income investor
01/7/2021
17:03
LXI have raised £100m via the Placing and a further £4m via the PrimaryBid Offer... Results of the Placing and PrimaryBid Offer - HTTPS://www.investegate.co.uk/lxi-reit-plc--lxi-/rns/results-of-the-placing-and-primarybid-offer/202107010700057496D/ "The Placing was significantly oversubscribed above the £100 million cap and a scaling-back exercise was therefore carried out."
speedsgh
30/6/2021
11:03
Increase in placing size from £75m to £100m due to strong investor demand and the increased depth of the Investment Advisor's pipeline of investment opportunities... Increase in Placing Size - HTTPS://www.investegate.co.uk/lxi-reit-plc--lxi-/rns/increase-in-placing-size/202106300700055556D/
speedsgh
24/6/2021
09:13
Plus ex-dividend today.
skinny
24/6/2021
09:12
PrimaryBid offer at 133p, hence the drop.
igbertsponk
04/3/2021
00:03
Milly85 My application to take up rights + excess was rejected by EQi because I had not applied until 1march!
evendimmer
02/3/2021
19:00
Would anybody like to make a comment on the fund raising We have until 5th March to make our decision
milly85
16/2/2021
07:02
Proposed GBP75 million issue of equity.
skinny
11/2/2021
07:19
Annual dividend target raised to 6p & declaration. Annual dividend guidance Throughout the pandemic, the Company has maintained a policy to continue to pay dividends which are covered by net income. The Board is pleased to report that, following successive quarters of strong rent collection and rental growth, the Company is targeting an annual dividend of 6.0 pence per ordinary share for the 12-month period commencing 1 April 2021* (the "Annual Dividend Target"). The Annual Dividend Target assumes that rent collection levels remain in line with forecasts and the resulting dividend will be fully covered by net rental income. The Annual Dividend Target will be payable in equal quarterly instalments of 1.50 pence per share and represents a 4.3% increase on the Company's pre-Covid-19 dividend rate of 5.75 pence per share. Quarterly dividend declaration As guided in its announcement on 5 October 2020, the Board is pleased to declare an interim quarterly dividend in respect of the quarter ended 31 December 2020 of 1.44 pence per ordinary share, payable on 26 March 2021 to shareholders on the register at 26 February 2021. The ex-dividend date will be 25 February 2021. The dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax exempt property rental business. As announced on 18 January 2021, the Board reaffirms that it is targeting a dividend of 1.46 pence per ordinary share for the quarter that commenced on 1 January 2021, as a result of its 98% rent collection. * These are guidance levels or targets only and not a profit forecast. In setting this target the Board has applied sensitivities to contracted rental income that reflect the possible impact of the Covid-19 pandemic and assessed the effect of such sensitivities on the net earnings and liquidity of the Group. The target assumes that future rent collection is not materially lower than that achieved so far throughout the pandemic and the Board reserves the right to withdraw or amend guidance in the event that rent collection materially worsens. There can be no assurance that this target will be met and it should not be taken as an indication of the Group's expected future results which may be impacted by events or circumstances existing or arising after the date of this announcement.
skinny
26/1/2021
07:02
Trding Update. TRADING UPDATE The Company is pleased to provide a trading update for the quarter ended 31 December 2020. Portfolio update The Group's portfolio has been valued by its independent valuer as at 31 December 2020 at GBP907.25 million, reflecting a 1.7% like-for-like increase on the 30 September 2020 valuation. The key drivers behind this increase are the continued outperformance of two of the sectors where the Group has some of its largest exposures, industrial and foodstores, which are benefitting from attractive supply and demand fundamentals and a strong investment market, as well as the effect of the embedded income growth within the portfolio. The portfolio has an average EPRA NIY of 5.0% which reflects a small amount of yield compression in industrials and foodstores, with the yield remaining stable in the Group's other sectors. The Company's portfolio comprises 125 properties let or pre-let to over 50 institutional quality tenants on long, index-linked leases with over 21 years unexpired to first break on a weighted average basis. The portfolio is 100% let on full repairing and insuring, triple-net leases. 96% of the Company's rental income is either index-linked or contains fixed uplifts. The index-linked reviews are predominantly RPI-based. During the quarter, the Company completed 28 rent reviews (representing 14% of the portfolio rent roll) with a weighted average uplift of 2.1% pa. The average increase outperformed both RPI and CPI inflation over the period and reflects the benefit of the collared and fixed rental uplifts which are contained in 72% of the portfolio's rent reviews (by rental value). The Company's portfolio remains focused on structurally supported sectors, including industrial (21%), budget hotels (21%), foodstores and essentials (20%), healthcare (13%), car parks (8%) and drive-thru coffee (4%). The Group remains prudently geared at 30% LTV, with long-term loans averaging 13 years to expiry at an average fixed rate of 2.84% pa. Net asset value ("NAV") and net tangible assets ("NTA") The updated portfolio valuation results in an estimated unaudited EPRA net tangible assets ("NTA") and IFRS NAV of 123.2 pence per share, as at 31 December 2020. This represents an increase of 2% over the quarter with the Group's quarterly total return, comprising growth in the EPRA NTA and dividends paid, being 3.1%. The growth in NAV reflects the like-for-like portfolio valuation increase and the value achieved through redeployment of the capital proceeds generated from disposals, invested into 'off-market' asset acquisitions and forward fundings. Disposals, acquisitions and investment pipeline During the quarter, the Company sold its BCA Facility in Corby for GBP68 million, reflecting a low 4.45% exit yield and crystallising a 14% geared IRR following its pro-active re-gear of the occupational lease to 25 years. The Company reinvested the sale proceeds at a materially higher average net initial yield of 5.7% across 13 assets let on long, index-linked leases to grocery tenants, including Aldi, Lidl, Waitrose and the Co-op. The new assets, acquired through both pre-let forward funding and built asset structures, reflect the Company's current focus on smaller lot-sized foodstores (10,000 sq ft to 30,000 sq ft) with online connectivity through home delivery/click and collect and low, sustainable rents (averaging GBP14 per sq ft). In addition, the Company, alongside its tenant partners, has been rolling out both electric vehicle charging and solar panelling initiatives across many of its sites. The Company continues to see interesting investment opportunities in long, index-linked assets in structurally supported sectors and believes material value can still be generated in these sectors, especially when targeting pre-let forward fundings in smaller lot sizes. Simon Lee, Co-Manager of LXI REIT plc, commented: "Whilst these remain challenging times, the Company's diversified long income portfolio continues to perform strongly with robust ongoing rent collection and further growth in the underlying valuations and rents during the quarter. We continue to see some exciting investment opportunities in the market, in particular through pre-let forward fundings, as demonstrated by our acquiring GBP61 million of right-sized and attractively priced foodstores in November."
skinny
18/1/2021
10:40
Skinny they are being a bit bold given the amount of hotels they have in the portfolio. I wouldn't put in past Travelodges owners to launch another CVA if restrictions drag on beyond March although staycations will be main form of holidaying this year me thinks as I can't see a rush back to international travel being allowed in any great numbers. Puts them in >5% yield group, just, but trades at close to NAV but with long leases with many on RPI uplifts may attract a bit of interest from those who need reliable income.
nickrl
18/1/2021
07:04
LXI REIT PLC Q1 Rent Collection/Increased Q1 dividend guidance. NEW INCREASED QUARTERLY DIVIDEND GUIDANCE Q1 2021 rent collection of 98% The Company has continued to actively engage with all of its tenants and is pleased to report rent collection to date of 96% for the quarter ending March 2021 (Q1 2021). This figure is calculated on the basis of cash received versus contractual rent due and does not include rent deferrals. Rent collection will increase to 98% following receipt of rent deferrals agreed with tenants. New increased quarterly dividend guidance As a result of its robust rent collection, the Board is pleased to report that it has today increased its dividend target to 1.46 pence per share for the quarter ending 31 March 2021*. This dividend is expected to be fully covered by net rental income for the quarter and is a higher level than the pre-Covid quarterly dividend rate.
skinny
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