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RLE Real Estate Investors Plc

0.00 (0.0%)
29 Nov 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Real Estate Investors Plc RLE London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.0% 28.75 08:00:00
Open Price Low Price High Price Close Price Previous Close
28.75 28.75 28.75 28.75 28.75
more quote information »
Industry Sector

Real Estate Investors RLE Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

Top Dividend Posts

Top Posts
Posted at 26/10/2023 08:56 by spectoacc
"So you beg the question what is the point of RLE except to provide fees for Bond Wolfe and the Directors salaries"

Ever thus with RLE.
Posted at 26/10/2023 02:17 by hillofwad
Dash to cash.

They are shifting most of the reatil stock at Walsall and Leamington
They also have got Castlegate House Dudley away

Not content to bastrdise the Market Centre Crewe.

They are even selling a ground floor shop in West Plazaa which leaves an untidy rump and devaluing the asset

The portfolio is rapidly heading towards a bitesize £100m of ragtag properties . There is no selective purchasing going on

So you beg the question what is the point of RLE except to provide fees for Bond Wolfe and the Directors salaries

All gearing up for an m all cash offer from the Bassis ? What's the least they can get away with 35p?
Posted at 30/9/2023 13:49 by nickrl
Some positives from RLE in that they are getting 4.5% on cash unlike the idiots at EPIC who had ten times as much cash sat getting nothing for months. They also provide data on where they have lost rental income very few others do. The bigger issue here is clock is ticking down on the debt and whilst sales are eating away at it 50m ish needs rolling in less than 9mths and given the family silver is being disposed of what margin are they going to have to pay here - 2%+ probably so overall around 7%. That will add 2m+ to interest costs such that divi will need to be cut by 30% and possibly more with disposals still ongoing let alone the loss of Wilko (9th biggest tenant)- that forced them to mention Crewe!! but no need to worry we have national retailers interested in the unit already.
Posted at 25/9/2023 11:20 by sleepy
What effect will higher interest rates have on their debt and profits? Suspect it could be (much?) more than 20% off the dividend
Posted at 25/9/2023 10:43 by 2wild
To be fair, they've done well to bring LTV from 50% to 35% without destroying the NAV, which is actually up 5% to 60P in last 2 years.

55% discount to NAV and 9.1% dividend looks good value despite the risks.

Assume 20% reduction to a 2p div, would still give a yield of 7.2% at current 27.44p buy price.
Posted at 31/7/2023 14:41 by nickrl
They've got 50m due between Mar-May24 on rates between 2.2-3.2 so could need refi 30-40m depending on sales so more like 6.5-7. Divi has been kept covered despite the ongoing sales but that put it under water. So divi will get cut whilst BoDs continue to take same fees no doubt.
Posted at 29/6/2023 08:31 by nickrl
CC2014 your being a bit harsh the LTIP is "designed to promote retention
and to incentivise the Executive Directors to grow the value of the Group and to maximise returns" !!

Exactly how they fulfilled any of the conditions attached to the 2020 LTIP is a mystery to me

- 50% of the award subject to absolute NAV growth plus dividends with threshold vesting – 30% of this part of the award – at 8.5% annual growth including dividends and full vesting at 14.0% annual growth
- 50% subject to absolute total shareholder return (share price growth plus dividends) with threshold vesting – 30% of this part of the award – at 8.5% annual growth and full vesting at 14.0%

Also nothing away on current trading performance either. That said despite director largesse they do just about cover divi with free cash currently.
Posted at 29/6/2023 07:14 by spangle93
How can they describe the dividend policy as "progressive" - it's all over the shop

RLE is pleased to announce that in accordance with its progressive dividend policy, REI will pay a fully covered Q1 2023 dividend of 0.625 pence per share for the period 1 April 2023 to 30 June 2023 (Q1 2022: 0.8125 pence per share).
Posted at 28/6/2023 16:20 by spectoacc
Thanks @meanreverter, interesting point.

The compound nature of that excess pay - and the fact they get it whatever the profit is, higher or lower - says to me the discount based SOLELY on that should be far larger.

Solely is in caps because on REITs with reasonable pay levels, and independent boards, the discounts are c.40%, so that ought to be the starting point at RLE.

In fairness, it's held up better than many lately.
Posted at 30/3/2023 05:56 by hillofwad

It's a hard job trying to place values on anything with RLE as they only ever reveal good news

Not an easy job trying to make a silk purse out of a sows ear buy fair play in getting some decent sales in This likely to contunue in H1.

Still seems that anythig which shows a book valie profit is up for grabs The problem is the rump is getting more toxic

Difficult to assess the situation on Crewe. Whether or not the Burger King will be a draw and the loss of overall income with the loss of parking

As usual they do not indicate where overall rental values are standing on the centre We can only assume that these have travelled south combined with service charge caps otherwise they would have mentioned it

I guess any lettings to reduce any unallocated service chrges is to be welcomed

You make a good point about energy ratings With awhile host of outdated buildings in the portfolio this is going to hurt

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