Real Estate Credit Inves... Share Discussion Threads

[kev0856153] 11/7/2023 15:24

100p is not impossible from a quick gander at the chart. This stock has form for cliff like falls.

[badtime] 11/7/2023 15:14

Slight wobble on ye old sp

[my retirement fund] 10/7/2023 14:20

A couple of newbe token style director purchases on 6th

[cwa1] 06/7/2023 08:22

XD for 3p this morning

[mcunliffe1] 26/6/2023 17:05

4th int. divi announced to be 3p - making 12p for the year.

[harden1] 26/6/2023 02:54

This is a good investment
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[cwa1] 22/6/2023 17:43

it's relatively unusual for RECI shares to trade below their book value – apart from the 2020 crash, this hasn't really happened since the aftermath of the financial crisis.

While this business is not without risk, my feeling is that RECI's results suggests that its model of investing directly in carefully-selected projects is continuing to work well.

I remain happy to hold the shares and collect a 9% yield, although I may sell at some point if the valuation recovers or I need the cash for something else.

[cwa1] 22/6/2023 07:51

Annual Report...



Dividend announcement...




Real Estate Credit Investments Limited announces today that it has declared a fourth interim dividend of 3.0 pence per Ordinary Share (a total amount of GBP 6,879,974.34) for the year ended 31 March 2023. The dividend is to be paid on 28 July 2023 to Ordinary Shareholders on the register at the close of business on 7 July 2023. The ex-dividend date is 6 July 2023.

Following a review, the Board has moved to regularise the declaration and payment of the Company's quarterly dividends. The four interim dividends will now be paid in July, October, January and April in respect of each financial year.

The intended dates for the financial year ending 31 March 2024 are as follows:


Dividends Declaration Ex date Record date Payment
First interim 14/09/23 21/09/23 22/09/23 13/10/23
------------ --------- ------------ ---------
Second interim 28/11/23 07/12/23 08/12/23 05/01/24
------------ --------- ------------ ---------
Third interim 22/02/24 14/03/24 15/03/24 05/04/24
------------ --------- ------------ ---------
Fourth interim 19/06/24 04/07/24 05/07/24 26/07/24

[cwa1] 13/6/2023 13:03

Our recent notes, in the main, have focused on why RECI should prove resilient in uncertain times, given its credit processes, high-quality security, low exposure to high-risk sectors, diversity and management of problem accounts. Market turbulence has reduced competition, and there is distinct upside, particularly in moderate-risk development loan positions. In this note, our property analyst considers the underlying real estate security, and concludes that i) potentially more difficult asset-classes are well underpinned by appropriate loan-to-value (LTV) ratios, ii) the geography and asset-class profile is good, and iii) there is strong evidence of RECI’s value-add, for example, but not exclusively, with its developer loans.

[catch007] 13/6/2023 11:58

Comfortable with the fact sheet data, the move to senior debt is a good strategy imho and the low share price does not reflect the continued progress.

[hpcg] 10/6/2023 09:38

It should be a concern when banks withdraw from a lending market like property. Banks will always have better information about a market and a borrower than any other entity. This is what lead to the demise of peer to peer lending (does it still exist?) where investors, including myself, took on a lot more risk than was warranted for the return. Banks have genuine actuarial protection from failures, and the mechanisms to limit their exposure where as funds are that much more concentrated.

The above is more a commentary on FPO's words than directly to RECI.

[wilwak] 09/6/2023 10:26

Aishah. I’ve seen it so many times before. Big funds selling at ridiculous prices. It seems that they follow some sort of computer model that balances exposure or something.

I remember once watching Invesco dump lots of stocks that I held causing huge dips in the prices than then all recovered when it stopped.

The last RECI update from the managers didn’t mention any concerns at all and I do have some faith in the managers of RECI.

I’m really hoping that the dip we’ve seen recently has just been some sort of allocation balancing rather than a deliberate decision to dump.

[aishah] 08/6/2023 21:56

Added here. 9%+ yield and a decent discount to nav. Someone's keen to get out though. Time will tell.

[alter ego] 07/6/2023 15:04

he's got a mate as well Skinny

[skinny] 07/6/2023 13:51

Back to the hammock then - I see the 'downmarker' has taken a few hours off!