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Share Name Share Symbol Market Type Share ISIN Share Description
Real Estate Credit Investments Limited LSE:RECI London Ordinary Share GB00B0HW5366 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.50 0.33% 152.50 152.50 153.50 153.50 151.50 151.50 284,237 16:17:36
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 37.2 16.2 9.4 350

Real Estate Credit Inves... Share Discussion Threads

Showing 1351 to 1374 of 1825 messages
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DateSubjectAuthorDiscuss
27/4/2018
15:39
ii will not let you buy this. BARC had same problem last week on kid confusion. but BARC sorted now. RECI did try to talk to iii but they not talking to them !! thank you Mifid.
jaws6
27/4/2018
15:30
hTTp://www.recreditinvest.com/PDFs/2018/04/QuarterlyUpdatePresentationMar2018.pdf
davebowler
20/4/2018
12:18
Your favourite stock:)Ps 42 to buy?
badtime
20/4/2018
09:09
Ahh Raven Russia. Yea good pint.
my retirement fund
20/4/2018
08:50
Bought 10 grands worth at 43.7521p this morning, probably worth a punt on the sudden drop. Sorry wrong board
nimrod22
06/4/2018
08:08
Another good monthly performance: MONTHLY UPDATE: • NAV as at 31 March 2018 was £1.636. After taking into account the 3.0p per share dividend paid in March, this represents an increase in NAV of 1.1p over the month. • This takes NAV total return in the past 12 months to 12.4p per share, representing an annual NAV total return of 7.6%. • RECI funded £5m under existing loans commitments in March, and invested £22m in two new bonds secured by a portfolio of office assets in the UK. • In March, RECI also entered into a commitment to fund its allocation of a €155m senior loan in France. This deal is likely to close during the course of April and be securitised into a CMBS bond. • To provide cash for this particular loan and the ongoing funding of RECI’s committed loans, a number of bonds were sold and their attached financings were redeemed. • RECI had a cash balance of £19.1m (representing 8.4% of NAV) at the month end, and had utilised 17.5% of its 40% NAV limit in leverage. • In March, Susie Farnon , a non- executive director of RECI, was appointed to the Board of the Association of Investment Companies, the industry's trade body, as a representative of the offshore funds sector.
skyship
29/3/2018
12:19
Yes but even RUSP hadn't done so well recently
badtime
29/3/2018
12:09
Certainly been a weak market recently; Kenny called this right it would seem. Still, I think the earnings are safe as they obviously had a good story to sell at the last placing @ 167p only 3 months ago: https://uk.advfn.com/stock-market/london/real-est-cred-RECI/share-news/Real-Estate-Credit-Investments-Ltd-Close-of-Issue/76308298 I expect the factsheet for March will confirm no problem. It is likely to have been a single fund selling down; and as they close out their position the share price will recover.
skyship
29/3/2018
11:58
Gone through support level, something afoot ,another rights issue or something else going on
nerja
20/3/2018
17:12
Bit of a knock at end of day
badtime
09/3/2018
13:07
Nope, I only have RUSP which is cast iron with no option to do a capital reorganisation or substitution. See the RUSP board for details I have posted about the protection that preference share offers. For this reason, the RUSP price is unchanged despite a number of small holders panicking and selling. I think there is a big buyer in the background picking up all the RUSP because it is now one of the few preference shares quoted in London that is truly irredeemable.
kenny
09/3/2018
11:46
Kenny - hope you didn't seek income shelter in the insurance and bank prefs!
skyship
09/3/2018
11:08
As I posted a couple of months ago, RECI may struggle to earn the 1p per month, net of operating expenses, they need to pay the dividend. For February, that has proved to be the case. I sold a few months ago to invest elsewhere but I do not necessarily think current holders should sell RECI. I only caution that the road ahead may not be so smooth if capital needs to be used to cover the dividend.
kenny
09/3/2018
07:45
Thanks Sky, nice and steady income payer, wllm
wllmherk
09/3/2018
07:33
MONTHLY UPDATE: • The investment portfolio has grown to £267.4m , with £11.8m of its existing loan commitments funded during the month, and a further £13.2m invested across three new issue bonds. • NAV increase of 0.3p in the month, with strong interest returns being partially offset by a fall in unrealised / mark to market values on the bond portfolio due to wider market volatility. • The Investment Manager expects to close on a number of new deals in the coming weeks. http://www.recreditinvest.com/investmentmanagerreports
skyship
02/3/2018
09:19
No reaction to xd yesterday
holts
08/2/2018
07:59
Good performance - NAV back up to 165.2p again: MONTHLY UPDATE • RECI NAV increase of 1.9p per share in January, taking NAV to £1.652 per share • During the month, the Company committed £36.7m to two new loans, and funded £11.4m of its existing loan commitments • A further £2.0m was invested in a new EUR CMBS bond • RECI had a cash balance of £14.4m (representing 6.2% of NAV) at the month end, and had only utilised 16% of its 40% NAV limit in leverage • This positions the Company well to continue to participate in the Investment Manager’s pipeline of deals in Q1 2018.
skyship
08/1/2018
07:58
Further growth of 0.66% in December: =================================== Manager Commentary # NAV as at 31 December 2017 was £1.633. After taking into account the 3.0p per share dividend declared on 1 December (which was paid on 5 January 2018), this represents an increase in NAV of 1.1p over the month #RECI’s combined loan and bond portfolio has grown to £241.5m as at 31 December. During the month, the Company invested: - £9m in a new senior loan to fund a mid-market residential development in Chatham, Kent, with an IRR of c14% and a day 1 LTV of c65%. The leverage ratio is expected to reduce significantly as the development progresses - £6m in a new listed bond backed by a fully operational French hotel. The bond has an LTV of 50% and a yield of 6.25%. - A further £4m drawn under existing loan commitments and the purchase of another new bond # Taking the above into account, RECI has successfully invested over £46m in the quarter ended 31 December 2017 # Two loans fully repaid in December, returning over £7m to the Company. Both repayments were above the November carrying values and were accretive to NAV # On 15 December 2017, RECI closed its fourth placing under its placing programme, raising gross proceeds of a further £20.5m for the Company. RECI has issued the full 65 million shares available to be issued under the placing programme and raised gross proceeds of £110m since February 2017 # Following receipt of the placing proceeds, RECI has a healthy cash balance of £34.8m (representing 15% of the increased NAV), which positions the Company well to participate in the Investment Manager’s pipeline of deals in Q1 2018.
skyship
18/12/2017
09:54
Having bought lower down my capital gain on paper is lower...but I'm getting the income I wanted and management don't seem that bad...it's a hold for me
badtime
16/12/2017
18:20
I suppose theres room for the shareprice to rise a little brining the yield closer to 6% but it may take another 12 months of published results
my retirement fund
16/12/2017
17:03
“Since redemption, RECI has replaced some of this Preference Share leverage, which carried a coupon of 8% per annum, with short term leverage at a significantly lower cost of borrowing (the weighted average cost being 1.35% per annum as at 30 September 2017). The Board believes that this, combined with the reduction in the Management Fee (which is only payable on net assets post the Preference Shares’ redemption), should enhance the risk adjusted returns and the overall yield of the Company. The Company continues to evaluate a range and combination of potential leverage options.” The EPS for the 6months to 30/09/17 was 6.05p. The dividends were 6.0p. So effectively RECI paid out 100% of earnings. Going forward borrowing costs and management fees are lower; so the cover will be slightly improved. The success of recent placings @ 166p & 167p suggest that the new shareholders will have been reassured on the earnings front during the roadshows. So though I wouldn’t expect any near-term improvement on the improved 12p/annum running rate; nevertheless that 12p does look secure. The yield @ 170p = 7.06%. Happy with that.
skyship
16/12/2017
11:36
I dont think there is need for panicky selling on the back of recent events although I can understand why some people feel unsettled including moi
my retirement fund
16/12/2017
09:20
Kenny - will take a look; though initially I would make just two comments: # The bonds bought at par just parks cash - effectively on deposit, but earning a good return # You perhaps haven't allowed for the small element of gearing, which though at only 17.7% of NAV, nevertheless adds a meaningful revenue surplus when borrowed at 2% and lent @ 8%+. Remember the Weighted average yield of the loan portfolio is 11.2%; and the WA Effective Yield of the top bond holdings is 8.6% - all as per the monthly fact sheets: http://www.recreditinvest.com/factsheets/20171130factsheet.html
skyship
15/12/2017
21:42
Skyship - that looks like a very convincing write-up but it is incomplete and has a very big factor missing in the analysis. The missing important fact is that while expenses have reduced, the yields available on new loans have moved down because the historical good yield deals no longer seem to be available. For example, in November RECI bought a number of bonds at par which yield an average of 5.8% - investing a total of £19.9m which is a not insubstantial sum of their total invested funds, about 8.6% of the company’s total interest earning funds. The yield on the shares, for comparison purposes with earnings, is 7.26% being 12p divided by the latest NAV of 165.2p. Therefore, even ignoring expenses, that is a chunk of their invested funds which is not earning its keep. It is bringing in 5.8% - before expenses - but the shares are paying out 7.26%. Please do run the total fund net income after total expenses because there are loans earning a much higher yield (albeit expiring in 2 years, average) so one does need to consider the position for the whole company taking account of not only lower expenses but lower income. Last time I ran the total calculation was some time ago and the position has changed. Look forward to seeing your figures.
kenny
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