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| 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 | 0.00% | 33.50 | 07:48:46 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 33.50 | 33.50 | 33.50 | 33.50 | 33.50 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT & SERVICES |
| Top Posts |
|---|
Posted at 29/1/2024 08:48 by meanreverter My first impression of the sell-off plan, with the accompanying revision of the management's remuneration structure, is that the board has been reading the grumbles of investors posting on this BB. Even so, the new payoff terms for the directors seem more generous than some of us would have liked. |
Posted at 12/12/2023 07:04 by skinny 2023 Q3 Dividend DeclarationReal Estate Investors Plc (AIM: RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT) with a portfolio of commercial property across all sectors, is pleased to announce that it will pay a Q3 dividend of 0.625 pence per share for the period 1 July 2023 to 30 September 2023. The payment will be made on 19 January 2024 to all shareholders on the register as at 22 December 2023. The ex-dividend date will be 21 December 2023. This dividend will be a Property Income Distribution (PID). |
Posted at 29/3/2023 14:16 by nickrl First thing that struck me reading through annual report is they've done 127 lease events when they only have 201 tenants - ummm. Also disappointing that Bassi didn't highlight how beneficial the Commonwealth games had been for them!!! Anyhow back to the report NRI now down to 12.6m although should increase with the lettings they have in sol hands. You have to say that the sales they've made above valuation indicate perhaps the valuers have got ahead of themselves. Vacancy level slightly down and looks like its occupied properties that are largely being disposed of. Also they declare that there are 2.5m of associated costs of vacant property - ouch.Debt still looks the Achilles heel here to me despite some short term extensions (surprised lenders willing to do that given IR) they have a cliff edge in a little over 12mths although at least in teh short term the sales have allowed them to eradicate all the higher cost debt. 44% of property EPC > C so to me thats another issue thats needs strategy and perhaps if Bassi will show his face again for an investors forum. Looking ahead they can cover the lower divi on free cash flow even with disposals as debt costs dropping but that wont be possible when they refi if rates are still at todays levels although they are are pushing on with sales so wont be the full 50m. Still not a holder but they feel in a better place. |
Posted at 19/7/2022 14:49 by hillofwad Again you are deliberately missing the point.Whatever precise role his son has or not had with RLE there is a family involvement and with the substantial property West Plaza acquired from Bassi family interstsWe clearly think diffentally about whether the acquistion of West Plaza was appropriate A number of issues -Bond Wolfe Let's get the timeline here Bond Wolfe agency were instructed by RLE to sell the proeprties Now if as you suggest the properties e were placed at auction as a "tactic" to tickle things along LOL (as you say seperately with Auctions run by now esatablished nephew) both would be entitled to a fee Even if that wasn't the case its usual practice for the original sellig agent if sold by auction to get a fee too It really isnt the norm for a vendor to place a number of properties at auction sell the lot prior to place a no of properties only leave the rag in Walsall to go to the room You will note there are very few others sofd prior in the catalogue You are correct its usually just flagged up as sold prior on the auction site but you would normally find the selling agents on their news feed giving the amount RLE investors unliklely to find out the exact amounts! So its a feesfest for the wider Bassi family |
Posted at 19/7/2022 14:05 by trcml Quoted plcs generally only deliver good news and twisted. The PR people see to that. The idea is to maintain at least support the existing share price and encourage buyers for positive prospects. Without more buyers than sellers not only would the share price languish but also director share options can lose their appeal. Every so often, a company's prospects are promoted by tip sheets even though most if not all of what is written about is already in the share price MMs join in by increasing the share price to deter buyers which has the desire opposite effect by making naive investors think there is something to go for. then having got rid of a load of shares on the new buyers, the MM lowers the share price to deter sellers which has the opposite effect when existing shareholders sell. Whether the approach succeeds depends upon the investor market's perception of the news. > The challenge for directors of quoted propcos is how to overcome adverse media comment about the state of the property market at any time. Which in the case of REI is not easy because in my view most commercial property in the provinces is ex-growth. |
Posted at 30/6/2022 04:26 by hillofwad Birch and Birchfield House OldburyAnatomy of a deal.The strangest of all their purchases and no excuses for the unmitigated disaster being within spitting distance of Bond Wolfes offices in West Brom ,a market they know like the back of their hand. 2 decent office buildings developed by Stoford abutting J2 of the M5 Birch House(16.540 sq,ft) the smaller of the 2 was originally occupied by Npower on a lease expiring in Dec 2017 paying a rental of £239,685pa .They vacated that and took on the larger Birch House(35,749 sq.ft) at a rental of £517,650pa on a lease expiring in March 2021 hxxps://www.business Investment bought in Nov 2015 and announced the purchase of Tunstall at the same time in a £22m swoop. It looks as if they probably paid about £8.1 m/£8.3m for Oldbury reflecting a yield overall of 8.5-8.8% net Ramsdens had been marketing Birchfield House on behalf of Stoford previously seeking 8.1% in 2011 without success when still some length in the lease One can ony assume that Bond Wolfe had a tenant in mind for the empty Birchfield House or confident that they would find one before the original lease expired in Dec 2017 It beggars belief that it has now been standing empty for 7 years!! Although acc to the letting agents its now under offer! Now joined by Birch House empty for 12 months and a colossal loss of rent £517,650 pa Knight Frank unsuccesfully had been trying to flog Birch House as an investment before Npower moved out in 2021 out] |
Posted at 29/6/2022 12:34 by hillofwad Yes certainly there is a price where it becomes a buyThey have experienced the big hits with the loss of Npower,HP and Premier Inn (partly mitigated by the letting to Best Western.terms not revealed) The problem I have is that you never ever get the full story to be able to value the individual buildings correctly Any bad news is well buried For exaample the letting to Best Western at West Plaza What investors actually want to know is how much the rent was .How that compared to the rental Premier Inn and what were the capital fit out incentives and/or rent free incentives offered All we got was it exceeded the valuers exspectations which might have been pretty low due to the pandemic! Bearing in mind this was the white elephant Bassi stuffed in maybe not surprising that he kept quiet Likewise with lease renewals and voids on the Market Centre Crewe what is the current net income and how much services charges are curently non recoverable investors havent got aclue what that is.Theonly news we get will be the good the sale of The Burger King investment |
Posted at 26/6/2022 18:26 by hugepants "The portfolio is full of secondary offices which is currently the worst sector to be in .Capital values diminishing"Not really. Many of the offices are in busy areas, well located and are almost landmark buildings. Check the portfolio on the website. Anyway the portfolio is mainly retail of one sort or another. They don't breakdown their portfolio in the same way as others but its pretty much this; Retail (55%) Offices (33%) Leisure (12%) So pretty well diversified. They believe their retail assets are mainly in the essential/convenienc The biggest negative for me is the relatively high LTV. Its 42.5% net of cash. The same as RGL. I can only think that is the reason for the current very lowly valuation; 9.25% yield and 39% discount to NAV. Imo they should forget buying anything else just now just get the LTV down. It should be under 40% if they complete on the sales they have lined up for after the year end though. And still scope for increasing revenue by addressing the voids. Anyway goes ex dividend this week and should get the H1 trading update in the next few weeks. I noticed this line in the results which sounds more than plausible; "...Industry experts believe that industrial values have peaked, with yields across the region at 4.5% now widely considered to be expensive and investors are shifting to alternative, higher yielding sectors such retail, retail warehousing and offices that offer superior returns..." |
Posted at 20/6/2022 17:29 by cwa1 Real Estate Investors Plc (AIM:RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT), with a portfolio of 1.5 million sq ft of commercial property across all sectors, is pleased to announce that in accordance with its progressive dividend policy, REI will pay a fully covered Q1 2022 dividend of 0.8125 pence per share for the period 1 April 2022 to 30 June 2022 (Q1 2021: 0.75 pence per share). The payment will be made on 22 July 2022 to all shareholders on the register as at 1 July 2022. The ex-dividend date will be 30 June 2022. This dividend will be a Property Income Distribution (PID).The Company also announces that on 20 June 2022 it granted annual awards to two Directors and other employees under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan adopted in 2021. The awards under the Plan give rights to certain Directors to acquire a total of 1,810,127 ordinary shares of 10p each in the Company ("Ordinary Shares") as detailed below at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return, with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date with full vesting if 12% levels of annual return/growth are achieved... |
Posted at 23/3/2022 23:51 by hillofwad Yep written their own deal. They have hooked them on a 15 year lease so RLE will be paying for that refurb one way or another I dont think they will be seeing any rent for this FY and maybe the next ! They kept very quiet about the rent free on the indoor market in Walsall tooLets face it if the rent ahd been a good 'un they would be shouting it from the rooftops This lack of transaprency with a clever -silly play on words creates mistrust and puts investors off! Its as almost if bad events dont occur -ego at stake Hiding the current state of play in Crewe what investors want to know is what steps they plan to underatke to fill the voids not bury the bad news |
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