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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Real Estate Credit Investments Limited | RECI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.50 | -0.39% | 126.50 | 15:48:14 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 126.50 | 126.50 | 127.00 | 126.50 | 127.00 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Top Posts |
|---|
Posted at 06/11/2024 16:15 by mwj1959 Wishful thinking that this is ever going to trade in-line with NAV! But certainly room for the discount to narrow further. Key for investors is that we get rid of some of the discount volatility we've seen in recent times. |
Posted at 09/10/2024 08:00 by davebowler -As at 30 September 2024, the Company was invested in a diversified portfolio of 26 investments with a valuation of £308.5m. Cash Balance was £18.6m. Net effective leverage was 19.8%. - An interim dividend of 3p per share was declared on 18 September 2024, to be paid on 18 October 2024 to Ordinary Shareholders on the register at the close of business on 27 September 2024. - RECI continues to use its cash to invest into new and existing loan commitments and carry out share buybacks. - A full attribution of changes in the NAV per share is presented in the table: August NAV 147.6p Interest income 0.9p Asset valuations 0.6p FX 0.1p Expenses -0.3p Dividend -3.0p Share Buybacks 0.0p September NAV 145.9p |
Posted at 16/7/2024 17:25 by rimau1 Sounds excellent. Expect the discount to nav to continue to close, i particularly like the last 2 paragraphs:"The expected net returns to RECI are highly accretive towards its net income, will enhance dividend cover and support the Company in continuing to provide an attractive and stable income to investors. This is the first investment by the Company for its financial year commenced 1 April 2024 from a pipeline of attractive opportunities identified by its investment manager, Cheyne Capital" |
Posted at 20/6/2024 09:17 by davebowler Liberum-RECI reported its FY24 results this morning. RECI's NAV per share as of 31st March 2024 was 144.5p representing a +7% NAV total return y/y. Key figures contained in the annual results have already been reported with the March fact sheet. The outlook highlights global election risk, but not notes that lower inflation should lead to lower long-term interest rates which should still benefit RECI as it offers higher sustainable yields. Guidance is for RECI to benefit from returns of over 10% on loans to enhance portfolio returns and dividend cover.RECI's investor presentation showed: (i) Cash reserves are targeted at between 5 and 10% of the NAV; (ii) The outlook is positive, guiding for a growing opportunity set as bank lending becomes more constrained. RECI stated they have a strong pipeline of floating rate senior loans.Liberum viewPerformance is in line with expectations. The opportunity set for new investments is very strong in this environment and the current 10.3% dividend yield represents attractive relative value, particularly given the focus on senior loans at low LTVs. RECI's portfolio LTVs (64.9%) provide a comfortable cushion against asset write downs and has underpinned asset recoverability. We view the recent write-downs of asset as conservative and note that RECI's impairment testing policy is asset specific. We expect the company to continue rotating its bond portfolio into senior loans as it views senior loans as offering better risk adjusted returns. |
Posted at 18/6/2024 12:54 by wokingblade Had an exchange of emails with Liberum saying that there's no space for "retail" (rhymes with scum)investors at the investor meeting.They offered to share the materials from the meeting, but that's hardly the same. I feel this is mis-communication at best and a blatant disregard for investors at worse. If I can't meaningfully engage with the company as a shareholder, then it is not for me. A disappointed WB |
Posted at 13/6/2024 10:09 by norricorp With regard to RECI Investors Day scheduled for 27/06, this is for institutional investors only. Sadly Cheyne Capital do not see retail investors as "investors". So no chance to meet the management. Very disappointing. |
Posted at 02/5/2024 07:18 by owenski For the forthcoming 'investor day' I'm presuming it's in Guernsey. It would be more investor friendly and helpful if they used some venue in London, being as they're listed on that market. |
Posted at 04/4/2024 11:44 by wilwak Well another fall this morning. Tempted to buy more! I hope this low price holds until 6th April as it’ll be my ISA target.Looking at the portfolio it is pretty well spread. Even if one or two loans are going bad the large discount more than allows for this and they are backed by assets. I’d like to think that a large investor is simply repositioning their portfolio. I remember once seeing Invesco do exactly this on one of their holdings which caused a large drop in the share price of the investment trust. Once they had finished the share price bounced straight back. With hindsight it was a fantastic buying opportunity. If we have faith in Cheyenne then best just ride this out I feel. It’s certainly a bit un-nerving even for me as an experienced investor. There may be a lot of small panicing investors running for the exit with this fall. Buy when there’s blood on the floor!? |
Posted at 04/4/2024 10:15 by my retirement fund We are seeing the effects now, we have very clear post covid statistics showing a significant decline in exported goods, albeit it slightly offset by an increase in services but presumably a blip. As for GDP, your showing the limit of your intelligence there, ot is normal for GDP to grow in an economy showing inflation, indeed significantly where many costs have exceeded 10%! Getting back to RECI and on topic. I believe we are already seeing early signs of the Brexit effect. That's why we are seeing it's investor base shrink and the company being forced to shrink by buying back its own shares. Already, some wiley investors are beginning to question the sustainability of the dividend. That's a forgone conclusion, much like the shareprice in the longer term environment we have, it would need to be cut. Clearly the problems Brexit has created over investment and trade will need to be addressed eventually. However, we can see a reluctance in all political divides to talk about that, and it may be another generation when it is addressed. Therefore, in the medium term, you should prepare for compounding hit upon your wealth. |
Posted at 01/4/2024 20:03 by wilwak Tournesol… Are you talking about VPC by any chance? I’m also hooked in to that one and hopefully it’ll all work out ok once the capital return gets underway.RECI….. I may buy more tomorrow if I can get them at 115p’ish. Seems very cheap. I’m nervous about the fall in share price because it may be that professional investors know more than us! On the other hand I’ve seen shares fall simply because a large investor decides to reposition their portfolio. Or a large unit trust investor is suffering withdrawals which forces them to dump liquid shares. So the fall is a worry but there could be very plausible short term reasons for it. Let’s see what tomorrow brings! |
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