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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
  0.00 0.0% 148.20 148.00 148.40 149.40 147.80 149.00 1,074,341 16:15:54
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 42.8 39.9 7.6 19.5 1,037

Lxi Reit Share Discussion Threads

Showing 301 to 325 of 350 messages
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
DateSubjectAuthorDiscuss
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
25/12/2020
07:30
Tenant can afford it, just reduce their divi. LXI could distrain and have a few bed for sale, lol.
johnrxx99
23/12/2020
13:41
These have five Premier Inns that Whitbread want a 50% rental discount for next qtr albeit they have been paying fully since the start of outbreak so wont make a big dent. Hotels are 24% of portfolio but at least the Travelodge element is baked into the price already so a short term impact and thats if landlords make a concession anyhow.
nickrl
26/11/2020
23:42
Good to see BCA sale proceeds recycled so quickly although looks like the Aldi wont generate cash til next year.
nickrl
26/11/2020
07:05
Acquisitions totalling GBP61m and Portfolio Update. The Board of LXi REIT plc (ticker: LXI), th e specialist inflation-protected very long income REIT, is pleased to report the acquisition of 11 foodstores and two discount stores from five different vendors/developers for a total cost of GBP61 million ("the Acquisitions"). The Acquisitions have been acquired at an attractive average net initial yield of 5.7% (net of acquisition costs) and with a strong and diversified tenant base in the form of Aldi, Lidl, Waitrose, Co-op, Iceland, B&M and The Range. The Acquisitions deploy the disposal proceeds of the Group's recently sold BCA facility in Corby ("the BCA Facility") at a yield which is materially higher than both the 4.45% exit yield on the BCA Facility and the Group's latest portfolio valuation yield of 5.1%. The Acquisitions reflect the Company's yield-disciplined focus on smaller sized foodstores which are currently the primary focus for our grocery tenants being right-sized for their preferred product range, but also offering online fulfilment through either or both of home delivery and click & collect. The Acquisitions are let or pre-let on long, index-linked or fixed uplift leases with low current rents (averaging GBP14 per sq ft) and low capital value pricing (averaging GBP230 per sq ft). The Group's whole portfolio now has a long WAULT to first break of 22 years, with 96% index-linked or fixed uplift rent reviews and is well diversified across the following robust sub-sectors: Industrial (21%), Budget Hotels (21%), Foodstores and Essentials (20%), Healthcare (13%), Car Parks (8%), Pubs (5%), Drive-thru Coffee (4%) and Other (8%). Aldi foodstore forward funding, Northumberland The Company has exchanged contracts on the pre-let forward funding of an Aldi-anchored scheme in Berwick-upon-Tweed, Northumberland. The foodstore, which will extend to 19,000 sq ft, has been fully pre-let to Aldi Stores Limited (the principal UK trading company of the Aldi group) on an unbroken 20-year lease commencing on completion of the building works, with five-yearly RPI inflation-linked reviews. The starting rent is a low GBP16 per sq ft. The adjoining 10,000 sq ft unit has been fully pre-let to Iceland Foods Limited, trading as Food Warehouse (the principal trading company of the Iceland Foods group) on an unbroken 10-year lease, with upwards only rent reviews and a low starting rent of GBP16.40 per sq ft. Lidl foodstore, Hampshire The Company has acquired a 26,800 sq ft foodstore in Portsmouth, Hampshire. The property, which was purpose built for the tenant in 2017 and trades strongly, is fully let to Lidl UK GMBH (the principal UK trading company of the Lidl group), with 22 years until expiry and 17 years until first break. The rent is reviewed on a five-yearly basis at a fixed growth rate of 2% per annum compounded. At the next rent review, which will take place in two years' time, the rent will still be at a very low rate of GBP12 per sq ft. Waitrose foodstore, Cheshire The Company has acquired a 25,000 sq ft foodstore in Poynton, Cheshire. The property, which was purpose built for the tenant in 2010 and trades strongly, is fully let to Waitrose Limited (the principal trading company of the Waitrose group), with 15 years unexpired until first break. The rent is reviewed on a five-yearly basis at a fixed growth rate of 2.5% per annum compounded. The store is the dominant foodstore in its locality, which draws on an affluent catchment population, and benefits from a material online delivery capability. Co-Op portfolio The Company has acquired a portfolio of seven Co-Op foodstores in Blackpool, Glasgow, Pontypridd, Sandbach, Southport, Wallasey and Wrexham, from a mortgagee. Each property is let to the Co-Operative Group Limited (the principal company of the Co-op group) with over 16 years unexpired to first break and with annual rental uplifts fixed at 2.25% per annum. The portfolio benefits from a low average rent of GBP15.80 per sq ft and a liquid average lot size of 12,000 sq ft. The properties also have the advantage of a high number of parking spaces, averaging 51 per store, which help ensure a good customer experience with quick and easy access to the store as well as assisting the tenant in their provision of additional services and sales channels such as click & collect. B&M and The Range, Yorkshire
skinny
25/11/2020
19:27
LXI trade very close to NAV so little opportunity here but divi restored to pre covid yielding 4.8%. Good lease lengths with negligible breaks within 10 years although that means nothing in this environment. Post year end have sold the BCA Corby for £68m (NRI £3.2m) and say they have acquisition in hand to acquire 13 other assets at yield of 5.7%. They have 12 travelodge hotels 6 of which suffered no rental loss rest have extended leases but lower rent and thats reduced the NAV in this part of the portfolio by 7.7%. Still biggest tenant though at 9% and the reliability of them questionable despite CVA. LTV around 30% and 13 years to run with no covenant issues at fixed rate of 2.85% vs portfolio yield of 5.2% but with most rents on RPI opportunity for dividends to keep pace with RPI. More excitement elsewhere but reliable income stream and may have a few if it drops back below 110p.
nickrl
23/11/2020
07:01
Half Year Results. https://uk.advfn.com/stock-market/london/lxi-reit-LXI/share-news/LXI-REIT-PLC-Half-Year-Results/83739526
skinny
10/11/2020
07:06
LXi REIT plc (ticker: LXI), the specialist inflation-protected very long income REIT, will announce its results for the six months ended 30 September 2020 on Monday, 23 November 2020. A Company presentation for investors and analysts will take place via a live webcast and conference call at 9.00am on the day . For those who wish to access the live webcast, please register here: https://www.investis-live.com/lxireit/5fa93a40248bc2120019b43b/jsda
skinny
05/11/2020
08:28
More grist to the positive mill...
cwa1
05/11/2020
08:17
Disposal of BCA asset 11% ahead of book value. The Board of LXi REIT plc (ticker: LXI), th e specialist inflation-protected very long income REIT, is pleased to report that it has exchanged contracts unconditionally for the sale of the Group's BCA facility in Corby for GBP68 million, reflecting a low exit yield of 4.45%, to a UK pension fund. Completion will occur on 30 November 2020. The sale price represents an 11% premium to the latest book value of GBP61 million (31 March 2020) and generates an attractive geared 14% pa IRR. The sale follows the Company's proactive re-gear of the BCA lease in July 2020 - which increased the remaining term from 16 years to 25 years, at no cost to the Company - and reflects the Company's view that the asset's value has been maximised. The Company is under offer and in solicitors' hands on a range of pre-let forward funding and built asset acquisitions which will fully deploy in short order the proceeds of the BCA sale across a number of long-let, index-linked assets secured to strong tenant covenants in robust sectors at a materially higher entry yield. Further details will be provided shortly.
skinny
03/11/2020
07:38
Moderately positive news
cwa1
03/11/2020
07:06
LXI REIT PLC Loans - Interest rate reduced & maturity extended. The Loans will now carry a reduced all-in fixed interest rate to maturity of 2.85% per annum, which is expected to generate a cash saving for the Group of approximately GBP2 million over the extended loan term, which has increased to 13 years for each facility (expiry 12 December 2033). As part of the agreement the existing security pools have been cross collateralised to provide further diversification to the lender and enhanced operational flexibility to the Group. The Loans previously carried a weighted average all-in fixed rate of 2.94% per annum and had a weighted average term to maturity of 10 years. The level of borrowings under the Loans (GBP170 million) and all other commercial terms remain as before. No arrangement fee has been charged and no break cost will be incurred.
skinny
20/10/2020
15:35
Decent (comparative) volume yesterday and today.
skinny
20/10/2020
07:34
knocking what out the park?
giant slalom
20/10/2020
07:31
Not a holder, but LXI still knocking it out the park.
spectoacc
20/10/2020
07:28
Profitable disposals & Accretive Acquisitions As part of its ongoing plan to actively manage its portfolio, LXi REIT plc (ticker: LXI) is pleased to announce three profitable disposals for a total value of GBP17 million, and two accretive acquisitions in the foodstore sector, which are being acquired for a total sum of GBP15 million, reflecting an attractive blended net initial yield of 5.5% (net of acquisition costs). Disposal of Glasgow office The Company has sold its sole office, a long-let property in Cambuslang, Glasgow occupied by the local council, to a specialist REIT for GBP8 million, reflecting a low exit yield of 4.2%. The disposal pricing reflects a premium of 17% to purchase price and generates an attractive geared IRR of over 16% per annum (double the Company's 8% per annum target return). The sale price is in line with latest book value. Disposal of social housing assets The Company has sold 11 long-let social housing assets for a combined sum of GBP8.5 million, reflecting a 5.2% exit yield, to a social infrastructure fund. The disposal pricing reflects a premium of 14% to purchase price, a 2% premium to latest book value (as at 31 March 2020) and generates an attractive geared IRR of 13% per annum. Sale of non-operational land at Travelodge property The Company has sold a non-operational plot adjacent to its Travelodge hotel in Llanelli to a petrol filling station operator for GBP500,000. The land was not used by the hotel and the sale has not reduced its rental level or capital value and thus represents an additional net receipt for the Company from land which had zero book value. The Investment Advisor is also in advanced discussions regarding further value-enhancing asset management transactions at other Travelodge sites. Forward funding acquisition of Lidl foodstore and EV charging points The Company has exchanged contracts on the pre-let forward funding acquisition of a Lidl foodstore in West Bridgford, Nottinghamshire. The foodstore has been fully pre-let to Lidl on a 25-year lease (with a one-off break right at year 15), with five yearly rental uplifts in line with annually compounded RPI inflation (capped at 3% pa and collared at 1% pa). The lease is guaranteed by the top trading company of the Lidl group, which has GBP10.5 billion of net assets, and the foodstore has a low starting rent of GBP16 per sq ft. The Company is also forward funding EV charging points at the property, pre-let on an unbroken 25-year, RPI-linked lease to a specialist EV operator. The freehold site comprises just over four acres and benefits from 180 car parking spaces. West Bridgford is an affluent town in the Rushcliffe borough of Nottingham, situated 1.5 miles south of Nottingham city centre. The immediate area is predominantly residential, with a number of schools and health facilities nearby. The attractive pricing reflects the off-market, relationship-driven nature of the acquisition and the thinner market for forward funding pre-let assets in smaller lot sizes in the current climate. The Company is forward funding the property on a fixed-price, pre-let and fully planned basis and therefore not assuming direct development risk. The Company will receive an income from the developer during the construction period at a rate equivalent to the net initial yield. Acquisition of Aldi foodstore, Lytham St Annes The Company has acquired, from an administrator, a foodstore in Lytham St Annes, which was purpose built for Aldi in 2014 and has a strong trading history. The property is fully let to Aldi Stores Limited, the principal UK trading company of the Aldi group, with over 18 years unexpired to first break and benefits from five yearly fixed uplifts of 2.5% per annum compounded. The fixed uplifts will provide rental growth of over 13% in three years' time. Aldi is one of Europe's leading discount grocers with over 10,000 stores in 20 countries. Lytham St Annes is an affluent coastal town with a strong tourism industry. Simon Lee, Co-Manager of LXI REIT plc, commented: "This capital recycling reflects the Company's continuing, but selective, expansion into the foodstore sector, with a particular focus on right-sized stores acquired off-market at attractive yields and let or pre-let to strong tenants on low, sustainable rents. The sales have crystallised attractive returns on assets from which we have extracted maximum value."
skinny
13/10/2020
19:11
Hi all, My mate Peter @Conkers3 and myself did a ‘Twin Petes Investing’ Podcast a few days ago and part of our discussion includes LXI and our take on commercial property. We also chatted about loads of other Stocks and some Ideas for research, and the outlook for Markets and as usual a fair bit of educational stuff with regards to Investing. Anyway, if you use Apple, Audioboom, Overcast or Spotify you can find it under the 'Conkers Corner' Channel (you want TPI Podcast 33) and you can find it on Soundcloud at the link below. I hope you enjoy it and find it useful, Cheers, WD @wheeliedealer hTTps://soundcloud.com/user-479955511/conkers3-wheeliedealer-33-risks-of-herding-cine-boo-dddd-itm-lxi-sre-inl-ai-av-aaz
thewheeliedealer
05/10/2020
06:03
LXI REIT PLC 97% Q4 Rent Collection/Dividend guidance increase. Q4 rent collection of 97% The Company has been actively engaged with all of its tenants over the summer and is pleased to report robust rent collection to date of 97% for the September to December 2020 quarter (Q4). This figure is calculated on the basis of cash received versus contractual rent owed and is not adjusted by rent deferrals. Further increase in dividend guidance As a result of its robust rent collection, the Board is pleased to report that it has today further increased its quarterly dividend guidance by 6% to 1.44 pence per share for the quarter ending 31 December 2020.* This dividend is expected to be fully covered by net rental income for the quarter. Rent reviews The Company is pleased to report that it completed 41 rent reviews between 1 April 2020 and 30 September 2020 (representing approximately 20% of the portfolio rent roll) with a weighted average uplift of 2.1% per annum. 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 71% of the portfolio's rent reviews (by rental value). 96% of the Company's rental income is either index-linked or contains fixed uplifts. The index-linked reviews are predominantly RPI-linked. The Company's portfolio comprises 139 properties let or pre-let to 52 tenants on long, index-linked leases with over 22 years unexpired to first break on a weighted average basis. Positive rental update The Company is also pleased to report that, following further agreements made with its tenants across a range of sites, the temporary rent reductions granted to its tenants due to the impact of Covid-19, as previously announced by the Company, are now expected to be at the lower average rate of 2.85% of the Group's total annual contracted rent for the financial years ending 31 March 2021 and 2022.
skinny
17/9/2020
17:02
I can-not see any info regarding the dividend payable on the 16th Oct as being a PID Am I missing something?
milly85
17/9/2020
06:05
Dividend guidance increase & Dividend declaration. The Board of LXI REIT plc (LXI) is pleased to report that, following robust rent collection for the quarter ending September 2020, it has today increased its quarterly dividend guidance by 4% to 1.35 pence per share.* This dividend is expected to be fully covered by net rental income for the quarter. Dividend declaration The Board is pleased to declare today an interim quarterly dividend in respect of the quarter ended 30 June 2020 of 1.30 pence per ordinary share, in line with the previous quarterly dividend guidance issued in May 2020. The dividend will be payable on 16 October 2020 to shareholders on the register at 25 September 2020. The ex-dividend date will be 24 September 2020.
skinny
24/7/2020
12:18
Agreed, the best management team for Long Lease I reckon - I'm only in AIRE instead on price.
spectoacc
24/7/2020
09:17
Underlines the quality here.
essentialinvestor
24/7/2020
08:02
Sell at 5.25%, buy at 5.9%, but I'd take Lidl/Home Bargains over social housing I reckon. More incremental good deals from LXI (not currently a holder but wish they'd change mind & buy AIRE ;) ).
spectoacc
24/7/2020
07:56
PROFITABLE DISPOSALS AND ACCRETIVE ACQUISITION. The Company has sold two portfolios of long-let social housing assets for a combined sum of £10.7 million, reflecting a 5.25% exit yield, to two separate social infrastructure funds. The disposal pricing reflects a premium of 14% to purchase price and generates a geared IRR of 14% per annum over the Company's three year ownership. The prices are in line with latest book values as at 31 March 2020. The Company is recycling the sale proceeds into the following pre-let forward funding acquisition, which is being acquired at a higher yield, with enhanced tenant covenants and RPI uplifts, underpinned by the robust discount foodstore sector. Forward funding acquisition of Lidl foodstore The Company has exchanged contracts on the pre-let forward funding acquisition of a Lidl foodstore in Barnard Castle, County Durham for £7.5 million, reflecting a 5.9% net initial yield (net of acquisition costs). The 20,828 sq ft foodstore has been fully pre-let to Lidl on a 20-year lease (with a one-off break right at year 15), with rental uplifts in line with RPI inflation. The adjoining 15,000 sq ft unit has been fully pre-let as a discount store to Home Bargains on an unbroken 15-year lease, with upwards only open market rent reviews. The Lidl accounts for 70% of the total value. Both leases are guaranteed by the top trading companies of the tenant groups, which have significant net assets (Lidl: £10.5 billion; TJ Morris (t/a Home Bargains): £1.1 billion). The properties also benefit from a low average rent of £13 per sq ft, resulting in a low capital cost of £209 per sq ft. The attractive pricing reflects the off-market, relationship-driven nature of the acquisition and the thinner market for forward funding pre-let assets in smaller lot sizes in the current climate. The Company is not developing the property or assuming development risk and is forward funding the property on a fixed price basis. The Company will receive an income from the developer during the construction period.
skinny
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
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