Lxi Reit Share Discussion Threads

[jombaston] 26/11/2019 11:13

I expected a fundraise today but clearly that hasn't happened so I have bought shares in the market.

As Jonwig rightly says, another fundraise is now unlikely until before March year-end. I would add that the results won't be out until May; they have pointed to a further rise in NAV as the forward-funded (and pre-let) developments will be finished by then. So if that is the case they should wait at least until May 2020.

Interestingly, they mention the possibility of recycling assets as they often get unsolicited enquiries about their properties. I wonder if we will see some sales where they have offers that are too good to refuse. This would reduce the pressure to raise more equity.

All in all, I'm very impressed at how they have managed to raise and deploy so much money while reporting continued asset growth and a covered dividend (albeit on an adjusted EPRA eps basis). It bodes well for the full-year numbers.

[jonwig] 26/11/2019 11:03

@ bathcoup - my error, sorry! I did mean 119.6p which makes my point better!

Thank you.

[bathcoup] 26/11/2019 10:13

@jonwig - I wonder why you say: "Now the nav is 116p..." Are you referring to EPRA NAV (119.6p on 30 Sep. 2019 as the company has reported).

[jonwig] 26/11/2019 08:32

Quite honestly I don't see another fundraising before the year end (30/03). The May one was announced at 118p when the share price was around 130p and the nav 115p: quite a big space to park it in.

Now the nav is 119.6p [CORRECTED] and the share price 123p: too tight.

They raised £200m and have spent about £213m but they've also got an increased RCF "to gear the net proceeds of the Company's recent equity raise".

All just my opinion, of course! The market seems unimpressed by the results, though maybe the shares were just getting too rich.

EDIT: share price 126p now, but I can't update regularly!

[ironstorm] 26/11/2019 08:10

Yep solid - great deployment of fund raising too.

[winsome] 26/11/2019 08:01

solid results. I see another fund raising coming in Feb/Mar. And why not, if its at a nice discount like last time?

[skinny] 26/11/2019 07:02

.

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[jombaston] 25/11/2019 18:19

Rat, I mentioned this earlier in the month and, as you say, with the latest deal it seems even more likely there will be a raise...but before we know the latest NAV, I'm not sure where that would be; I would guess a few p below where we are now but the new shares will probably come ex div.

[rat attack] 25/11/2019 10:00

I cannot help thinking that the revolver is now fully utilized with all these recent acquisitions so should we be expecting another fund raising tomorrow?

[johnrxx99] 22/11/2019 08:47

re interims - thanks jonwig. Sharescope still not updated.

[johnrxx99] 22/11/2019 08:43

jonwig - the commercial property investment market is Off-market.

The commercial property market is property professionals in agencies knowing which company/individual has funds to invest and who has clients with propositions for investment. Commercial is always off market unless a forced sale. I was in that market for 30 years thus my investment here and Tritax.

I was surprised that with Biggin Hill, no covenant has been named.

[jonwig] 22/11/2019 08:41

@ johnrxx - maybe read post #210?

[johnrxx99] 22/11/2019 08:34

An the interims are on ?

[ironstorm] 20/11/2019 07:55

Does appear to be a quality operation.

Pity on recent price action. In a sideways track.

[jonwig] 20/11/2019 07:19

How do they find such attractive properties, "off-market"?

Lots of companies based at Biggin Hill. My guess would be the unnamed operator is Bombardier:



H1 results 26/11.

[jt35] 08/11/2019 13:32

September ex div was back in June due to fund raise

[skinny] 08/11/2019 10:39

John see posts 203,198 & 189 above.

[johnrxx99] 08/11/2019 10:24

JT35, where is the September exdivi?

[jt35] 06/11/2019 12:33

LON:LXI Dividend HistoryEx-Divi Date Pay Date Type Dividend Curr. Total2019-06-13 2019-09-23 Q1 dividend 1.4375 GBX 2019-05-30 2019-07-03 H2 dividend (final) 1.375 GBX 5.52019-03-07 2019-03-29 Q3 dividend 1.375 GBX 2018-10-11 2018-12-21 H1 dividend (interim) 1.375 GBX 2.752018-09-06 2018-09-28 Q1 dividend 1.375 GBX 2018-06-07 2018-07-02 H2 dividend (final) 2 GBX 42018-03-01 2018-03-29 Q3 dividend 1 GBX 2017-11-30 2017-12-29 H1 dividend (interim) 1 GBX LXI DividendsDividends made by LXi REIT from their annual profits to their shareholders are shown here - normally on an interim and annual basis. We list all the recent dividend announcements and dividend yields from LON:LXI where possible.

[jt35] 06/11/2019 12:31

There have been quarterly dividends paid this year , maybe your confusion has been caused by extended time between ex and pay date of the 3rd dividend due to the fund raise. Divs this year have been paid end of March, beginning July , end September so far exactly in line with last year so the next one will be December and presumably will be announced in November results announcement.

[skinny] 04/11/2019 09:30

John re post 198 - I emailed [e-mail] - perhaps address your concerns there?

[johnrxx99] 04/11/2019 08:57

OK, thanks for your attempts, sincerely and sorry I didn't say that b4. I also emailed the CEO but received no reply.

The point I have been making is that previously they made quarterly distributions. This year they have not. As you say jonwig, if they chose to alter that frequency, they have to inform the market. As far as my research can find, they have not.

If they have, please point me to the RNS date.

Cheers.

[jonwig] 04/11/2019 08:26

@ johnrxx - after telling us maybe eight times what their 2019 dividend targets were, they would have to inform the market if there was any significant change (eg. amount or frequency) - it's in the listing rule book.

Thus the absence of information is a signal that there is nothing to worry about.

I trawled through a series of RNSs in an attempt to reassure you, and Skinny took the trouble to contact the company. I guess both Skinny and I are experienced investors who know how these things work. Your response appears to say, "Not good enough", rather than "Thanks".

[johnrxx99] 04/11/2019 08:14

Sorry guys but lots of platitudes but no facts. If they do this and that OK for an ADVFN post but not for people expecting dividends.

Is Skinny's post an RNS?

The board is showing a lack of sincerity imo and thus potential damage to it's investment quality.

Can't hold with Tritax as an alternative