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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
  1.00 0.72% 139.50 138.50 139.50 139.50 137.50 138.00 194,005 16:35:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 -17.4 -8.7 - 320

Real Estate Credit Inves... Share Discussion Threads

Showing 1601 to 1624 of 1725 messages
Chat Pages: 69  68  67  66  65  64  63  62  61  60  59  58  Older
DateSubjectAuthorDiscuss
29/5/2020
02:21
Tipped today in the Telegraph
pejaten
22/5/2020
15:18
10K Director purchase
my retirement fund
22/5/2020
07:54
Stifel- RECI – Transparency and update helpful Last week RECI released a thorough review of the portfolio in light of the coronavirus pandemic and the historically wide discount at which the fund had been trading. The additional transparency is helpful as that does help lift some of the cloud surrounding the sector. Leverage. While the episode could have been handled better, we think the fund is moving in the right direction. Out of the four repo lines in use one is likely to be extended from three months to six months. In addition, the leverage structure will be amended to a balance between repo and individual facilities on bilateral loans. In practice this means that a bilateral loan may be leveraged on a discrete basis without recourse to the remaining fund. While this is marginally more expensive it is more conservative than a fund wide facility and we think it’s the right thing to do going forward. Portfolio. The update is largely positive, with loan to values on the remaining portfolio outside of the two writedowns being low. Some of the development loans are also partially de-risked due to being pre-let or sold. Roughly 50% of the portfolio is repaying capital and interest so this should continue to de-risk the fund. Excess cash. The fund has a number of prepayments due in the coming months. There is a question over whether this should be used to help narrow the discount (buyback or capital return) or continue to re-invest. The current environment should provide plentiful opportunities to re-deploy capital at attractive rates of return and as long as this persists we would prefer a manager that can actively invest. For medium- to long-term shareholders this should lead to an overall better return as it is counterintuitive to reduce deployment at the exact moment when investments are potentially the most attractive. A balance between the two objectives may be the best path forward if the discount to NAV remains wide relative to peers. (Analyst: Sachin Saggar).
davebowler
22/5/2020
07:45
Indeed. I thought the target looked like 120p as per the previous spike; but these days I'm inclined, as ever, to bank turns and move on. Where to is the problem all of us are having it would seem.
skyship
21/5/2020
12:52
Reckon this will push towards 1.30. Bad luck Sky but you're rich enough anyways
my retirement fund
21/5/2020
07:35
Hardman report(may need to register)... https://www.hardmanandco.com/research/corporate-research/getting-a-balanced-view-on-outlook/?dm_i=49CL,UBDG,554LNI,3OV8P,1
cwa1
21/5/2020
07:11
Thanks , I missed it .
holts
20/5/2020
10:42
Yes Holts, positive.
davebowler
20/5/2020
09:38
Always nice to take a quick 10% Sky....I'd have done the same if I hadn't sold my trading buy ...happy to hold the ones i retained ..for now
badtime
20/5/2020
07:30
Couldn't resist the temptation to take another turn here as RECI carves out its base - out at 112p yesterday - hopefully temporarily...
skyship
18/5/2020
16:18
Positively illuminating in your opinion ?
holts
18/5/2020
14:04
Company presentation dial in was very helpful and illuminating.
davebowler
15/5/2020
22:23
Bought some shares but I think I'll go long with leverage too.
hpcg
15/5/2020
12:01
Well pity I sold those I was looking to trade but more than happy that I kept those bought late April..would have been happy at 2p per quarter:)
badtime
15/5/2020
11:12
Back to 1.10
my retirement fund
15/5/2020
07:23
Been through it quickly , one or two currently sticky but not alarming positions , I am relying on their detailed approach to carry them through as in 2008 , of course if this goes on for a very very extended period this will change , but having bought more yesterday I am bias as well . Question will be, is the persistent seller still to continue?
holts
15/5/2020
07:17
Added for the first time in 8 years and at almost the same price!
skinny
15/5/2020
07:09
Well, I may be biased being a small holder, but that reads really well. The 12% yield looking rather secure. As I posted earlier, I suspected a cut from 3p/Qtr to 2p/Qtr.
skyship
15/5/2020
06:25
and copy of the presentation: hTtp://recreditinvest.com/PDFs/2020/05/RECI-May-2020-Company-Update-Presentation.pdf
rik shaw
15/5/2020
06:03
Dividend Declaration & Company Update Presentation. Payment of the fourth interim dividend will complete the payment of dividends totalling 12 pence per ordinary share in respect of the financial year ended 31 March 2020. Following a comprehensive review exercise carried out by the Board and the Investment Manager, more details of which are contained in the Company Update Investor Presentation released today, the Board confirms that there will be no change to its dividend policy for the current financial year ending 31 March 2021, and that the Company intends to continue to pay a stable quarterly dividend. more.....
skinny
12/5/2020
15:16
I dumped the amount I was going to trade at roughly b/e ..still done for longer term ..seems to be someone dumping stock today and recently ..even after today's relatively positive comments ..
badtime
12/5/2020
09:17
Which is why I'd be happy to see 2p per quarter
badtime
12/5/2020
09:16
I will be fascinated to see the presentation on the 15th. The problem with the 08 crash was from memory they raised and invested shareholders equity into the portfolio at the bottom. What are their plans for when the bottom of the cycle approaches again? That could still be several months away.
my retirement fund
12/5/2020
08:26
Liberum; Mkt Cap £229m | Prem/(disc) -32.2% | Div yield 12.0% Event Real Estate Credit Investments' NAV per share at 30 April 2020 was 147.6p, reflecting a NAV total return of 0.4% in the month. Three bonds were sold during April for £24.3m. The proceeds were used to repay drawings under the company's debt facilities. Leverage reduced from £81.7m (24.2% of NAV) to £50.5m (14.9% of NAV). Cash on the balance sheet at the end of the month was £31.3m, resulting in a net debt to equity ratio of 5.6%. Investment activity was limited during the month with £2.9m of drawdowns to fund existing loan commitments. 87% of the top ten assets in the portfolio now comprise senior loans and bonds. The manager has commenced the origination of a new pipeline of senior loans with a more attractive risk/reward offering than before the crisis (higher margins and lower LTV/LTC ratios). The completion of new loans is expected to commence from Q3 this year. Liberum view RECI's portfolio is defensively positioned with a focus on senior loans and core income bonds. LTVs are relatively low (bonds 56.1%; loans 66.0%). The majority of the investments are relatively short duration (loans 1.1 years; bonds 1.7 years). Some of the borrowers are likely to experience cash flow difficulties but there is significant headroom in valuations. Risk is mitigated by collateral quality, loan structuring, borrower strength and robust documentation.The current discount to NAV is pricing in an extreme situation for property values. At the current discount to NAV (-32%), we estimate the implied headroom in the underlying collateral value is 53% for portfolio. This compares to a peak to trough drawdown of 44% in UK commercial property values in the financial crisis between 2007 and 2009.
davebowler
Chat Pages: 69  68  67  66  65  64  63  62  61  60  59  58  Older
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