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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
  1.40 0.96% 146.80 146.80 147.20 148.00 146.00 146.00 2,336,764 16:35:02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 42.8 39.9 7.6 19.3 1,027

Lxi Reit Share Discussion Threads

Showing 276 to 298 of 350 messages
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
DateSubjectAuthorDiscuss
21/7/2020
12:05
Added a small amount under 1.08, drifting down towards £1.
essentialinvestor
02/7/2020
09:38
Added a small amount under 1.16. May be opportunities lower down.
essentialinvestor
02/7/2020
07:47
Quality update a few other propcos's would do well to present with same clarity
nickrl
02/7/2020
06:05
Update on June Quarter Rent Collection. The Board of LXi REIT plc (ticker: LXI) provides the following update on rent collected for the June to September 2020 quarter: · 84% has been received to date; · a further 6% was already subject to agreed deferral and repayment plans entered into following negotiations with tenants in respect of the previous quarter (of which the majority is due to be received within three months of the quarter); · a further 4% is subject to ongoing negotiations with tenants; and · a further 6% has been granted as temporary concessions (being predominantly the agreed terms of the Travelodge Hotels Limited ("Travelodge") CVA as announced on 19 June 2020). In addition, the arrears in respect of the March quarter day have been settled in line with the agreed terms of the Travelodge CVA as announced on 19 June 2020. The Company continues to seek to strike an appropriate balance between protecting the interests of its shareholders and providing proportionate support to a small number of its tenants which have been impacted temporarily by Covid-19. These robust collection statistics reflect the diversification and resilience of our tenants and sectors, the importance of our assets to our tenants and the proactive approach adopted by the Company, our Investment Adviser and our tenants. The Company remains well capitalised, with a strong balance sheet, low leverage, significant liquidity and very long term debt facilities.
skinny
01/7/2020
06:04
IMPORTANT LEASE RESTRUCTURE. LXi REIT plc (ticker: LXI) is pleased to announce that the Company's Investment Advisor has negotiated an important lease restructure with one of its largest tenants, BCA. The property represents one of the Company's largest assets with a March 2020 book value of £61 million. The site also represents a key operating asset for the tenant, BCA (which owns WeBuyAnyCar.com), being a 121 acre storage facility in Corby, primarily enabling online sales. BCA's commitment to the location was further evidenced by their recent freehold purchase of an additional 40 acre expansion site adjacent to the Company's property. The term of the lease has been extended from 16 years to 25 years, with no tenant break right. The rent review has been converted from uncapped RPI with no collar, to RPI, capped at 2.5% pa and collared at 1.5% pa. The new collar provides a minimum rental uplift for shareholders, which is attractive in the current environment. The rent remains unchanged on the asset and the first rent review will be five years from the date of the lease extension. Following discussions with the Company's valuer, Knight Frank LLP, it is anticipated that the lease restructure will be accretive to shareholders. After the lease restructure, 95% of the Group's rental income is inflation-linked or contains fixed uplifts and 68% of the income now has a minimum contractual uplift/collar, regardless of the inflation rate, averaging 2% pa.
skinny
22/6/2020
08:04
I cut and ran last week (broke even) - too much downside uncertainty for me atm
toffeeman
22/6/2020
08:04
Do the math. If you are commuting to work and your train ticket costs 80 quid a week and travel time door to door both ways is 3 hours each day , think of the savings in both time and money if you can work from home.
brwo349
22/6/2020
07:44
Peel Hunt Outperform 113.40 114.00 - - Reiterates
skinny
05/6/2020
20:21
Not so sure that is the case. 100% homeworking will largely not happen, I agree. I would though expect companies to move away from long term rents and space for all to on demand and space for some. Not commuting/travelling aids productivity and increases disposable income so those that can make more virtual working work, will. Expect operators that can offer flexible space on demand to do well. Total office footprint will fall, which has knock on implications for associated businesses who service them. Exited property sector today: LXI and TRY. Both have been very profitable plays despite the recent downturn and were part of long term portfolio. Suspect property sector will require significant correction for the new normal, so happy to watch this sector from the sidelines for now.
njb67
05/6/2020
17:30
Yes, offices likely to be OK in the medium term. Working at home productivity will soon be shown to be far lower, and most people go to the office as a social matter. Especially regional offices where travel is not such a bind. Even if some continue to work from home, the remainder will need more office space with new distancing regulations. This will not cost a company more as peoples' homes cost them virtually nothing. In the short term, there is the matter of some unpaid and maybe unpayable rent. But that is not likely to have any meaningful effect on most UK REITs.
chucko1
05/6/2020
16:30
RGL is 80% offices, which are going out of fashion quicker than turkey on Boxing Day due to home working. Which I believe is a short term trend. Who could really stand working from home full time? Only I minority.
winsome
05/6/2020
14:50
I cannot see why RGL has been affected. What do they have in Travelodge-like things? Cannot see from the annual report. But it got hit hard at the same time as LXI got hit. But not today.
chucko1
05/6/2020
12:50
Well, if LXI agree to the CVA, Premier Inn and Greene King will want discounts too and who could blame them. If they do agree to the CVA then I'll assume the latter and reluctantly dump my holding if the share price is still this high. Been topping up on SHED which has zero voids, 100% rent collection and bigger div and without the same tenant risk.
winsome
05/6/2020
08:33
@winsome: it does, or at least - in best-case scenario mode. Car parks won't be doing too well lately either. Https://www.lxireit.com/properties Edit - hadn't realised quite so many Travelodges. Be interesting to see if the CVA gets through, and where that leaves the negotiating position of other hotel chains.
spectoacc
05/6/2020
08:32
FWIW :- Peel Hunt Outperform 122.80 122.40 - - Reiterates
skinny
05/6/2020
08:27
Not just Motorpoint. They have other tenants in the automotive industry and Bombardier centre servicing business jets. Student accommodation too, which will struggle next year. Pure Gym and Greene King pubs. Yet share price is doing rather well. Markets seem to be in a bubble at the moment.
winsome
04/6/2020
14:45
"That doesn't read too badly to me" - that seems to be the initial consensus.
skinny
04/6/2020
14:21
Hmm. That doesn't read too badly to me, but - if the Travelodge CVA is agreed/goes through, what incentive does that give to other tenants to pay up? ie becomes their default negotiating position, and we all know the next qtr is likely to be the worst.
spectoacc
04/6/2020
14:09
UPDATE ON TRAVELODGE AND RENT COLLECTION. The Board of LXi REIT plc (ticker: LXI) notes that Travelodge Hotels Limited ("Travelodge") has filed proposals for a company voluntary arrangement ("CVA"), and provides the following information. The Group owns 12 hotels let or pre-let to Travelodge, representing 10% of the annual contracted rents, including contracted rents under agreements for lease. Two of these hotels are under construction and benefit from cash-backed developer licence fees and a further two hotels are currently in developer funded rent free periods, reducing the current quarter's exposure to Travelodge to 8%. Travelodge's proposed CVA, in combination with support from Travelodge's shareholders, is designed to provide cashflow assistance to Travelodge as a result of the impact of Covid-19. The Board of Directors will scrutinise the proposals, along with our advisors, in order to best protect the Company's position in determining whether or not to support the CVA proposals. We will carefully consider all of the Company's options including the right to forfeit Travelodge's leases - a right which it retains. It is anticipated that the creditor vote will take place on 19 June 2020. The impact on the Company's total annual contracted rent roll as a result of this Travelodge proposal (assuming the Company does not forfeit Travelodge's leases) would be: · a reduction of 4.6% of the Group's annual contracted rent during the financial year ending March 2021; · a reduction of 2.9% of the Group's annual contracted rent during the financial year ending March 2022; and · a return to the full annual contracted rent due under the leases in the financial year ending March 2023. Travelodge also proposes to provide landlords with a share of future revenues should certain hurdle rates be met, along with increasing the length of the leases. Dividend guidance and update on March rent collection The Travelodge CVA has no impact on the quarterly dividend guidance provided on 18 May 2020 of 1.30 pence per share. The Company's Investment Advisor has continued to progress discussions with tenants regarding payment of the March 2020 quarter date's rent and has now agreed repayment terms with virtually all tenants.
skinny
19/5/2020
14:58
Specto im pretty sure HMT will be regretting some of there initial actions but they thought that petrol was about to be poured on a small fire so over reacted but we are where we are. What i thought would happen by now is HMT would be more targeting in its support measures but the furlough action last week suggests not although i believe they've yet to release full details so maybe it won't look as generous in due course. Ultimately HMT must be acutely aware of the negative feedback into banks if the dominoes begin to tumble so this is why banks have been given the liquidity to prop up landlords and im surmising the expectation is banks will be expected to support refinancing with either extended terms at potentially lower rates. Currently what the government does with rental enforcement action is key to which way the market goes (there will be outliers ie HMSO over last wk that wont follow the trend) but on 1-3yr horizon i can't see majority of propcos being a significant source of income.
nickrl
19/5/2020
14:06
@nickrl - tricky isn't it. The govnt stop landlords taking enforcement action, but also taxpayer is paying for furlough & a full 12 months off business rates. Logic says landlords should also take a quarter or half year of no income, when there's no revenue being earned. So no divis, fine - but what about the debt holders? The banks only have to defer it. Yet there's no way this rent will get "made up" later on, more the opposite - an extended period, as you say, of disrupted trading & income. Suddenly the landlords are taking most of the pain but with none of the relief. Most so far appear sensible - moving to monthly rents, working with tenants. With the sole exception of the lamentable Travelodge and its short-term owners. Can't believe govnt really intended to pay PE's furlough costs/business rates, & have them stop paying rend. But then again - they gave the supermarkets about half a billion quid each.
spectoacc
19/5/2020
13:44
Specto good to see some solidarity emerging amongst landlords as there could be tsunami of CVA's unleashed, especially if govt don't extend the restrictions over landlords commencing rental enforcement action, so we don't need them breaking ranks too easily. That said it would also be useful for the likes of BPF to promote with government a sector wide approach as to how they help those sectors who are going to facing a whole world of pain for 18mths+.
nickrl
19/5/2020
09:05
All indications so far are that the other TL landlords feel exactly the same as LXI.
spectoacc
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
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