Rdi Reit P.l.c Share Discussion Threads

[skyship] 13/12/2017 09:59

Keith95 - re yr 178 above. MS have the share price @ 33.92p & the NAV est. @ 38.81p.

Where do you find the FAIR VALUE?



Incidentally, bizarre that they have the NAV lower in view of the recent p'folio sale at a premium to valuation. Sure they are XD, but the NAV should still be North of 40p!

[steve3sandal] 13/12/2017 09:33

Like it! I made my initial purchase at 38p recently, following the PDMR buys at 40p, and the Leopard sale which looked to improve the balance sheet. I can’t find a reason not to average down at 33/34p so, as renew suggests,....you have been warned. GLA

[renew] 13/12/2017 09:06

For all of you curious as to why the price has dropped recently and apologies for not having given you prior warning but I bought in at 37p a few weeks ago.

[grollfam] 13/12/2017 02:36

Agree, undervalued , good management and assets

[macthepak] 13/12/2017 02:04

To be honest I tend not to pay much attention to after hours trading.

Lets go with what you say 11 million goes through at 34p and I see it is located in the buy column.

So one reasonable/rational/logical explaination for this is the market makers dropped the price, investors panicked and sold, and then market makers were able to fill these large orders at a discounted price. This is supported by the observation since the ex dividend date of 30.11.2017 approximately 12 million more shares have been sold then purchased.

The price should rise today (13.12.2017)

[skyship] 12/12/2017 17:24

There has been high volume during the recent fall; but today even more so with c11m going through after hours @ c34p!

All rather strange...

[macthepak] 12/12/2017 16:50

The fair value price for RDI is a projection/opinion and not a statement of fact.

The last actual factual NAV was on 31.08.2017 and was 41.4p per share.

I really cannot see how they have calculated the NAV falling from 41.4p to 33p over a month, thats like 20% drop. Has the price of commercial property crashed by 20%?

The only recent information out there that is factual and relavent is:

CEO, Mike Watters purchased 70,790 shares on 13.11.2017 @ 40p

Director, Marc Wainer purchased 3,157,846 shares on 13.11.2017 @ 40p

Dividend of 1.3p to be paid on 18.12.2017

The only way shorting will work with RDI if the share is manipulated and false information is put out there. The thing we need to remember is that REITs are not like other companies out there. They are invested in commercial property and therefore protected against the share price dropping to 0p, think of it as collateral.

Great price to buy if you have some spare cash.

[keith95] 12/12/2017 12:31

... you might have thought the shorts would have learned from their Intu burning of last week ...

.... but this RDI fall looks to be down to morning star which has collapsed the fair value share price from 40p to 33p in a month or so.

No idea why ... but I imagine the hedgies are using this number to trade from.

GLA

[macthepak] 10/12/2017 18:50

RDI is one of those unloved shares.

I have held RDI for a number of years and have enjoyed the dividends and have averaged down as the price has fallen. I continue to enjoy the dividends each year, but it is a high risk play especially in this part of the economic cycle, Brexit uncertainty and a high LTV ratio of 50%.

In some of my previous posts I have hoped they would use some of the money from property sales to lower the debt.

The share price has risen and fallen but over 5 years it is only down 0.63% and in those 5 years I have enjoyed dividends worth 19p per share at an average share price of 37p. Current share price is 34.5p so have not done too bad considering the interest rates offered by savings accounts.

Recent unexplained share price fall just after ex dividend date and just before Christmas, I would not worry. Opportunity to average down further and the shares should pick up forward yield of 7.7% its just too attractive especially if inflation picks up.

[andyj] 07/12/2017 13:53

I really hate it when these supposedly safe income plays fall day after day without any news.

[andyj] 06/12/2017 14:30

A sudden drop to a multi year low is worrying.

[skyship] 30/11/2017 11:22

XD the 1.3p dividend today. PD 18th December.

[macthepak] 27/10/2017 15:53

So what the market is negative.

Donald Grant, Chief Financial Officer of RDI in his STRATEGIC REPORT financial review states:

Going concern
At 31 August 2017, the Group’s cash and undrawn facilities were £63.4 million and its capital commitments were £16.8 million. Having considered severe but plausible scenarios, the Directors are satisfied that the security of the Group’s income taken together with an average debt maturity profile in excess of seven years, headroom against financial covenants and strong interest cover, continues to provide a reasonable expectation that the Group will have the resources it requires to meet ongoing and future commitments. Accordingly, the 2017 consolidated financial statements have been prepared on a going concern basis.

[bothdavis] 27/10/2017 09:06

Since Feb 16 on steady downward path, I am invested - still like the company - just worried that the market is negative about the company for some reason!

[macthepak] 26/10/2017 11:09

bothdavis 170 of 170 your comments "Just keeps dropping and dropping!", Whats your evidence?

RDI has been stuck in the price range of 35p to 40p since autumn of last year.

It currently has a NAV 41.4p, in 2016 this was 41p and in 2015 it was 41.5p.

Dividend 2.75p giving a yield based at current price 37p of 7.4%.

Whats your problem??

[bothdavis] 25/10/2017 21:22

Have a nasty feeling the market sees this one going out of business. Just keeps dropping and dropping! I liked the look of it!! That'll teach me!

[neilyb675] 25/10/2017 18:32

Final results - 26th October

Redefine International [RDI]

[macthepak] 31/8/2017 13:26

First major tranche of debt is due to be paid in 2020 about £50m give or take, then wait for it in 2021 they have £378m of debt to be repaid and then in 2022 a further £123m.

I hope they use this money to pay off the debt soon as possible. If they use this money to buy more property without long term refinancing in place for the 2021 and 2022 debt then I can only see trouble ahead especially with a hard brexit.

[cerrito] 31/8/2017 11:11

I thought a good announcement today especially with the premium to NAV they have been obtaining and I was surprised that the initial reaction was for the share price to fall.
I was expecting them to make a comment about using the use of proceeds to pay down debt. They have stated that their guideline for LTV is 40/50%...I see at the end of February it was 49% so perhaps they are comfortable with that.
I have very little left; I would buy more at these prices if I was not so gloomy on the UK property market.

[macthepak] 16/7/2017 21:37

Full explanation from RDI web site regarding dividend split

hxxp://www.redefineinternational.com/~/media/Files/R/Redefine-International/documents/reit-summary.pdf

[micos] 29/6/2017 18:08

Both parts paid yesterday on I-web

[eithin] 29/6/2017 15:23

Balance paid today. Inc Withholding Tax (ISA)

[eithin] 28/6/2017 19:17

Property income Google REIT for an answer.

[micos] 28/6/2017 19:12

Why do they split the dividend?

[poacher45] 28/6/2017 18:33

There are two dividend payments making 1.3p in total.