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 Shares Traded Last Trade
  5.00 4.72% 111.00 4,446,777 16:29:58
Bid Price Offer Price High Price Low Price Open Price
110.20 111.00 115.00 106.00 109.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 38.50 73.60 15.20 7.3 579
Last Trade Time Trade Type Trade Size Trade Price Currency
16:48:02 O 1,405,590 109.00 GBX

Lxi Reit (LXI) Latest News (4)

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Date Time Title Posts
20/10/202016:35:::: LXI REIT ::::299

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Lxi Reit (LXI) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-10-20 16:15:00109.001,405,5901,532,093.10O
2020-10-20 16:15:00109.001,405,5901,532,093.10O
2020-10-20 15:48:02110.9810,61111,775.98O
2020-10-20 15:35:23111.00110,726122,905.86UT
2020-10-20 15:27:45111.002,4382,706.18AT
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Lxi Reit (LXI) Top Chat Posts

Lxi Reit Daily Update: Lxi Reit Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker LXI. The last closing price for Lxi Reit was 106p.
Lxi Reit Plc has a 4 week average price of 104p and a 12 week average price of 102.20p.
The 1 year high share price is 140.80p while the 1 year low share price is currently 63.10p.
There are currently 521,426,010 shares in issue and the average daily traded volume is 845,534 shares. The market capitalisation of Lxi Reit Plc is £578,782,871.10.
spectoacc: Not a holder, but LXI still knocking it out the park.
skinny: 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."
thewheeliedealer: 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://
skinny: 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: 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: 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: 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, 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.
winsome: 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.
skinny: 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: Third Interim Dividend. The Board of LXi REIT plc (ticker: LXI), the specialist inflation-protected very long income REIT, has today declared the third interim dividend in respect of the year ending 31 March 2020 of 1.4375 pence per ordinary share, payable on 27 March 2020 to shareholders on the register at 6 March 2020. The ex-dividend date will be 5 March 2020. The dividend reflects an annualised rate of 5.75 pence per ordinary share, in line with the Company's current annual dividend target*. The dividend will be paid as a Property Income Distribution ("PID"). Extension of Terms of IMA and AIFM Agreement. The Board of Directors of LXi REIT (ticker: LXI), the specialist inflation-protected very long income REIT, has approved the extension of the term of the Company's Investment Advisory Agreement with LXi REIT Advisors Limited to 31 March 2025, with the original term due to end on 31 March 2022. There are no changes to the fees provision and no material changes to the contractual arrangements in the Investment Advisory Agreement. The Board has also approved the extension of the term of the Company's AIFM Agreement with LJ Administration (UK) Limited so that it remains coterminous with the term of the Investment Advisory Agreement. more.....
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