Real Estate Credit Inves... Share Price (RECI)

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	Shares Traded	Last Trade
	-1.25	-0.73%	169.00	82,477	16:25:25

Bid Price		Offer Price	High Price	Low Price	Open Price
169.00		170.00	171.00	169.00	169.50

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
General Financial		19.23	13.10	12.9	337.0

Last Trade Time	Trade Type	Trade Size	Trade Price	Currency
16:35:21	UT	454	169.00	GBX

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Real Estate Credit Inves... (RECI) Latest News

Real Estate Credit Inves... News

Date	Time	Source	Headline
09/7/2019	16:19	ALNC	DIRECTOR DEALINGS: Real Estate Credit Investments Director Buys Shares
09/7/2019	10:36	ALNCF	Alliance News Flash Headline
09/7/2019	10:30	UKREG	Real Estate Credit Investments Ltd Director/PDMR Shareholding
08/7/2019	18:34	ALNC	DIRECTOR DEALINGS: Real Estate Credit Investments Director Buys Shares
08/7/2019	16:18	UKREG	Real Estate Credit Investments Ltd Director/PDMR Shareholding
05/7/2019	07:00	UKREG	Real Estate Credit Investments Ltd Fact Sheet Announcement
02/7/2019	14:33	UKREG	Real Estate Credit Investments Ltd Notification of Major Interest in Shares
25/6/2019	16:14	UKREG	Real Estate Credit Investments Ltd Publication of Supplementary Prospectus
25/6/2019	14:35	ALNC	Real Estate Credit Investments Net Assets Rise Amid Macro Uncertainty
25/6/2019	13:00	UKREG	Real Estate Credit Investments Ltd Notification of Major Interest in Shares

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Real Estate Credit Inves... Forums and Chat

Date	Time	Title	Posts
05/7/2019	09:03	Real Estate Credit Investments	1,477

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Real Estate Credit Inves... (RECI) Most Recent Trades

Trade Time	Trade Price	Trade Size	Trade Value	Trade Type
2019-07-15 15:35:21	169.00	454	767.26	UT
2019-07-15 15:24:02	169.00	3,000	5,070.00	AT
2019-07-15 15:21:24	169.00	623	1,052.87	AT
2019-07-15 15:17:45	169.00	50	84.50	AT
2019-07-15 15:17:45	169.00	329	556.01	AT

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Real Estate Credit Inves... (RECI) Top Chat Posts

Date	Subject
15/7/2019 09:20	Real Estate Credit Inves... Daily Update: Real Estate Credit Investments Limited is listed in the General Financial sector of the London Stock Exchange with ticker RECI. The last closing price for Real Estate Credit Inves... was 170.25p. Real Estate Credit Investments Limited has a 4 week average price of 167p and a 12 week average price of 167p. The 1 year high share price is 176p while the 1 year low share price is currently 162p. There are currently 199,203,635 shares in issue and the average daily traded volume is 179,783 shares. The market capitalisation of Real Estate Credit Investments Limited is £336,654,143.15. Read Full Thread Reply
05/7/2018 10:29	holts: Net Assets1 £228.1m Shares Outstanding 139.4m NAV (pence per share)1 £1.637 Share Price (pence per share) £1.650 Premium/(Discount) 0.8% Dividend Yield2 7.3% Market Capitalisation £230.0m Read Full Thread Follow Reply
03/6/2018 18:17	kenny: I do not think that is correct. I believe RECI share pro-rata on fees and equity profit share. Read Full Thread Follow Reply
29/3/2018 12:09	skyship: 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. Read Full Thread Follow Reply
15/12/2017 17:15	skyship: Kenny - I'll check that re uncovered dividend. In the meantime holders should be reassured by this extract from October's piece in the DTel. As for RUSP - holders have done well thus far; but I wouldn't sleep well at night holding stock in Putin's kleptocracy. Certainly NOT one for me! ============================================================== “We believe that the opportunity set available to RECI today, for the UK market, may be as compelling as that present in 2008 and 2009 in the immediate aftermath of the global financial crisis.” The fund manager gave the example of one £20m loan in April. It was for just 40pc of the property value, with the owner and other lenders ranking behind RECI in the event of default – but the return is expected to be 8pc a year. This kind of figure is normally associated with highly risky assets, not secured lending on London property when other parties have to lose 60pc of the asset’s value before any impact is felt. Across the £113m loan portfolio as a whole, RECI has lent about 69pc of the value of the properties concerned. The trust also owns about £50m in bonds backed by residential or commercial property. Some were bought below par value, which offers some limited scope for capital growth. The trust currently yields a highly attractive 6.8pc but there are good reasons to expect that figure to rise to about 8pc or perhaps even more, said James Burns, who holds it in multi-manager portfolios he runs for Smith & Williamson. “The trust used to have some expensive preference shares in issue, but they were redeemed last month,” he said. “These prefs cost 8pc a year but the fund manager expects to refinance at less than 2pc. “The other change is that the management fee will in future be calculated as a percentage of net assets, not the higher gross assets figure. Taken together, these two developments could see the yield rise by between 1.5 and two percentage points, so it could reach 8pc or more at the current share price.” Read Full Thread Follow Reply
15/12/2017 16:09	kenny: More important than the constant issue of shares, I am beginning to wonder if RECI are going to continue to struggle to earn an average of 3p per quarter net; to meet the quarterly dividend. Averaging the last 3 months, they just about made 3p in those 3 months but, importantly, those earnings include the effect of issuing shares at above NAV. Therefore in the last 3 months, in reality, they have not earned an average of 1p per month. You cannot keep issuing new shares at above NAV so your earnings are flattered. Essentially, if you look at the yield on recent loans, those investments have not been at a high enough yield to produce earnings after costs averaging 1p per month. Nothing to say the yield on new investments will improve even if interest rates nudge upwards because their loan rates are not really related to base rate. In essence, if future earnings are only just going to cover the dividend yield and for some periods not cover the dividends, there is no reason for the shares to trade at much over NAV. I appreciate people are desperate for yield – that might support the share price at a premium to NAV - but there are more risks below the surface with RECI than perhaps most investors appreciate. After careful consideration of the longer term outlook I sold some weeks ago and reinvested in RUSP. I appreciate that RUSP invests in Russian warehouses but this class is preference so the yield is fixed, higher and very well covered by earnings. I think all the political and other risks, if any transpire, will be borne by the ordinary class: RUS and not the preference I am invested in. I had held RECI for some years so it is sad selling the last of my holding of a share that had served me well for so long. However, I believe I have much less risk in RUSP (strange as that might sound!), my yield is higher, very well covered and, importantly to me, much more secure when comparing risks between the two investments. Read Full Thread Follow Reply
14/12/2017 10:20	grahamburn: And, so far, the share price has held up well. Read Full Thread Follow Reply
06/1/2017 10:40	davebowler: Liberum; Specialist Finance Real Estate Credit Investments (BUY, Mkt Cap £115m) 7.5% NAV return in 2016 Event RECI generated a NAV return of 1.1% in December 2016 bringing the NAV total return for 2016 to 7.5%. NAV performance in the month was driven by the loan portfolio and the third consecutive month of positive returns from the bond portfolio. December was an active month for portfolio activity with the company acquiring £15.4m of a bond secured against a prominent office building in the City of London (8.3% expected yield). £2.0m of bonds were sold above the prior month-end carrying values. In the loan portfolio, a new loan commitment was signed for a senior loan to fund the development of a site in Woolwich, London into 152 mid-market residential units. A €7.6m repayment on a loan secured on a Berlin shopping centre was received in the month. Liberum view 2016 has been another positive period for RECI and the 7.5% NAV return has been achieved despite volatility in the underlying real estate market during the year and cash drag in H2 2016 following a large loan repayment in August. Cash as a percentage of NAV at the end of December was 15% and outstanding loan commitments account for the majority of this. RECI's share price discount to NAV has widened to 3.2% which compares to an average 4.2% premium for peers. This is despite RECI's superior NAV total return track record and sector-leading dividend yield of 6.8% (6.0% for peer group). Read Full Thread Follow Reply
22/6/2016 14:12	grahamburn: Why buy this close to the ex-dividend date? Unless the share price rises by more than the two dividend amounts, all that you will achieve is getting some of your own money back, whilst losing some "capital" value. Add to that the uncertainty surrounding the next few days and you might get a double whammy. Personally, I'm sitting on my hands until after the ex-dividend date when I might get a much better price to add to my holdings. I might not, of course, but at least any downside risk is covered! Read Full Thread Follow Reply
15/6/2016 21:25	deadly: Results this Friday. Will they give a boost to the depressed share price? Hope so. Read Full Thread Follow Reply
17/5/2013 00:19	kenny: Yieldsearch everything you say seems soundly based and logical. Most journalists do not seem to understand RECI it is too much hard work! My current view is that RECI will wind up because it is a very small fund compared to the other funds Cheyne are managing. There have also launched at least 3 new funds in the last 18 months which are all now a lot bigger. I do think that eventually RECI will move to trade much closer or above its NAV. These things sometimes take a lot longer than would appear logical especially when compared to new funds, which seem to have a big marketing machine to draw in new investors e.g. the investors chronicle article. If RECI keeps adding a penny or three to its NAV every month, then it will eventually be noticed and, perhaps, all of a sudden it will move up. You heard it here first!! Another important point to bear in mind is that RECI has a pool of potential pull to par money of 64p per share new entrants do not have this potential. That combined with the fact Cheyne seem to be able to source higher yield investments should ensure that, over the long term, RECI out performs the newer funds. Perhaps the RECI share price has to first consolidate its move up over the last 9 months, with all short termers being flushed out, before it makes its next move up. The US MBS market and US based MBS funds appear to have closed the gap to a much greater extent, so perhaps we will eventually follow the US market. Read Full Thread Follow Reply

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