Real Estate Credit Inves... Share Discussion Threads

[spoole5] 15/4/2023 07:29

Income increasing here though, wouldn't be surprised to see a dividend increase at some point.

[cc2014] 14/4/2023 16:08

Oh there's no point in asking me as I want some crazy low price and you guys will all buy before me.

Last time I paid 118-119p for decent volume on the Truss/Kwarteng mess. Sold out at 139p

There's plenty of other stuff at decent discounts if this one bounces and I miss the ride. GLA

[cwa1] 14/4/2023 15:45

CC2014

As a matter of interest, what are you waiting for? What price/what kind of sign would it take to tempt you?

Cheers

[cc2014] 14/4/2023 15:33

Waiting... It's certainly struggling

[grahamburn] 14/4/2023 15:30

CWA1

Think your reference to "somebody" is a little wide of the mark - no large sales today, just a fair number of small to medium (£10/£13k) sales with only one around £40k. Wednesday was more significant.

Doubt if it would be one somebody selling in small tranches.

[my retirement fund] 14/4/2023 14:32

Added a good slug this morning

[cwa1] 14/4/2023 13:34

Hmmmm. Somebody certainly wants out!

[cwa1] 14/4/2023 12:58

OK, I've walked the talk. Put a few on the book, went out a walk and came back the, reasonably content, owner of some RECI at 131.5p. Fingers crossed now...

[skinny] 14/4/2023 08:40

Well our resident down marker, is nothing if not persistent!

[cc2014] 14/4/2023 08:11

I see it as a 1.6p loss. In the month they should have generated a penny to pay for the next dividend which indeed they did. However, the fund value fell 1.7p so overall a 1.6p loss. Not great, not terrible.

[skyship] 14/4/2023 07:26

? - not that bad surely - down just 0.6p - 0.4%
==============================================

MONTHLY UPDATE:
• NAV as at 31 March 2023 was £1.469 per share, representing a decrease of
3.6p per share from the 28 February 2023 NAV of £1.505 per share.
• The change in NAV per share was due to:
• the payment of the second interim dividend of 3.0p, which went exdividend in March
• 1.1p of net interest income
• 1.7p of net mark to market losses on the bond portfolio, resulting
principally from heightened volatility in two bonds held by the Company.
The Investment Manager remains confident in the credit quality and the
benefits of the short duration of the Company’s bond portfolio
• The Company expects to deploy its currently available cash resources in
near term commitments and continues to see a growing pipeline of senior
loans at attractive floating rates.

[spoole5] 14/4/2023 07:04

Disappointing nav update

[chucko1] 11/4/2023 11:46

I do love a good wind-down. So many opportunities, especially those winding down through partial incompetence and/or naughtiness.

[badtime] 11/4/2023 10:53

Eh...pandemic it dropped sub £1...and where are we now?

[williamcooper104] 11/4/2023 10:45

They spun the Portuguese and Spanish mortgages of into a separately traded vehicle that wound them down over time (making a reasonable recovery)

[williamcooper104] 11/4/2023 10:41

It did v well to just survive the credit crunch

[skinny] 11/4/2023 09:35

As posted previously, I've held this since 2012 @96p - @120% return on capital in dividends and @38% capital appreciation - a sleep at night share!

[chucko1] 11/4/2023 09:24

Portuguese MBS back in 2006 - that would not be pretty to the share price. It's done well to remain at half that value!! They must have taken some concerted cleaning-up action (or done nothing [depending on exactly what they had], as Portugal never went off the cliff in the end).

They seem to have pretty decent people running this, so I really quite like it down here. Bought a few more after the fall to close to 132p.

[spoole5] 11/4/2023 06:57

Thanks. It seems like a pretty conservative set up now. No reason why it shouldn't move back to a premium when rates start to fall.

[williamcooper104] 10/4/2023 23:31

Structured finance, quite esoteric stuff too -Eg Portugueses MBS - with higher leverage rather than lowly levered real estate loans

[spoole5] 10/4/2023 23:24

How was it different?

[skyship] 10/4/2023 15:18

norricorp - "wonder how it ever does" --- this is an interest rate play. At 133p it yields 9%. Pretty darned attractive if/when interest rates are back down to 3%.