Newriver Reit Share Discussion Threads

[hpcg] 23/5/2019 13:58

Exited this morning at 221-223. There was plenty of enthusiasm post results, something I didn't share. I do not like MLP / REITs pay over their FFO. Also didn't like the emphasis on UFFO. Also the NAV drop. Despite their lack of exposure to really poor sub-sectors NAV is likely to drop next year and the year after. For safety I want to factor in a 2 * 10% drop, which means 235 then 211.5. Thereafter I'd like a further 10% safety margin, and ideally a dividend reset. I may be a buyer at 190.

[wskill] 23/5/2019 09:45

Soon as woody is out I would guess that a more sensible level of payout will commence I believe,and do hope its soon.

[spectoacc] 23/5/2019 09:00

Nah, the divi keeps them honest I reckon. Guarantees us a return (admittedly some of it capital atm).

[wskill] 23/5/2019 08:55

Like the new venture but would have preferred that the divi was cut to sustain more acquisitions and joint ventures.

[hugepants] 23/5/2019 08:15

Ordinary dividend cover reduced to 84% from 93%. LTV up to 37% from 28%. And they don't discuss the share price. Yield is 9.5% which you'd assume is a danger sign. But not in this case obviously - everything is great!

[spectoacc] 23/5/2019 07:37

Confident in the divi, & I like the new JV. Haven't dug much further yet, a lot to read this morning.

[lord gnome] 23/5/2019 07:34

Management will talk things up, but the numbers do not impress. Dividend cover is down, NAV is down, LTV is up. I certainly will not be rushing to buy just yet.

[fenners66] 23/5/2019 07:14

Quick scan at the change in the balance sheet and it does not look good.

[chucko1] 22/5/2019 21:08

We discussed that one before, perhaps a month or so ago. Check out the earnings tomorrow and it will be made clearer. My take is that they basically cover it, or will do again after deploying some remaining capital. It’s EPRA div cover which matters as that is the sustainable cover. In the long term, they appear to collect sufficient rent and after costs just cover the cash dividend. On top, they make development profit, but have recently lost though lower NAV.

Perhaps the market is worried about further lowering of NAV tomorrow. Does not matter for income seekers, though.

[gswredland] 22/5/2019 20:19

Yes but will dividend stand as it is?
According to advfn it is only covered 0.76 times

[chucko1] 22/5/2019 18:00

No apology required. 216p gets you to 10% yield as it’s paying 5.40p divs quarterly. Up from 5.25p. Don’t be too greedy!!

[lord gnome] 22/5/2019 17:55

A return to sub 200 would suit me nicely, although anywhere around 210 for a 10% yield will do. I now have the cash I need to invest. Apologies to current holders.

[essentialinvestor] 22/5/2019 17:52

Unsurprisingly. He is positioned pretty aggressively on cyclical UK plays.

[eeza] 22/5/2019 17:42

All of Woodford's stocks hammered today.

[chucko1] 22/5/2019 16:21

That’s a lot of nervousness. Especially as it fell a few pence the previous week.

Maybe it’s Woodford who’s nervous!

[wirralowl] 22/5/2019 16:16

Nervousness ahead of results tomorrow, maybe?

[ramellous] 22/5/2019 16:15

Almost 10% dividend and relatively safe.. the share price can do what it wants, anything below 215 I’m buying..

[minfeus] 22/5/2019 16:08

That's torn it then....
Dividend due on Friday and whether to reinvest, get average down or keep my powder dry for a while?

[chucko1] 22/5/2019 14:11

Yes, it seems that way. But if it’s Woodford bailing, I would not take too much notice, unless you are not in it for the long run.

[andyj] 22/5/2019 14:07

The uptrend, such as it was, is now in grave danger.

[spectoacc] 21/5/2019 13:13

NRR is Woodford's biggest holding in his Income Focus Fund, I noticed today. Much smaller than WEIF and not as torn by redemptions, but agree overall.

[hpcg] 21/5/2019 10:55

Morningstar has downgraded Woodford Equity income from bronze to neutral. Tells me that Morningstar are fund industry shills more than anything, but also we should expect redemptions to continue or even accelerate.

[spectoacc] 21/5/2019 10:12

Good spot. Wonder what sort of return it brings for NRR.

[speedsgh] 21/5/2019 10:08

Asset Management Agreement signed for Nicholsons Shopping Centre, Maidenhead -