Real Estate Investors Share Discussion Threads

[tiltonboy] 07/3/2019 15:02

SKY,

Again, a little bit harsh. He was the one picking up prime Brum properties when no-one wanted them, and is now selling on ridiculously low yields. Some of the recent deals they have done look to have potential for gains, and the dividend is still on an upward trajectory.

It is fair to say he doesn't court the city, and even a distrust thereof.

The major problem has been that there has been an almost endless supply of stock...and there appears to be shed loads more on offer.

I'm happy to collect the dividends, and wait for sentiment to change.

[belgraviaboy] 07/3/2019 14:36

Back in here for a few - unlikely to be a long termer unless they can demonstrate themselves to be more shareholder friendly

[skyship] 07/3/2019 14:26

Tilts - I was triggering your response! 😊

Actually though, I do believe he is ultimately the one responsible for poor positioning in the booming Midlands market. I also feel that one of the reasons for the lack of PI communication may be because it must be difficult to paint a positive comparison with peers.

I gather he also doesn't court The City, so with limited PI and fund manager involvement, perhaps not surprising to see a wider discount opening up...

The only positive appears to be his laudable move for increased dividends; but I hope I might be eating my words with the Finals in c2weeks ...

[tiltonboy] 07/3/2019 12:20

A bit harsh SKY.

[nk104] 07/3/2019 11:53

At 49.5p, a 3.5p dividend is over 7 per cent yield. This is starting to look very tempting.

[skyship] 07/3/2019 11:45

Yes, also tempted, though a very limited reinvestment thus far and watching for the time-being as ARTL & AEWU provided better value. RLE's performance certainly a marked contrast to the great rise in RGL.

A real problem here is Bassi's total failure to understand PR or IR.

Finally last Qtr he appoints a PR company to provide a report - but he appoints a nobody who no-one has heard of, then makes the report available only to institutions - not available to PIs!

He should have recruited Edison or Hardman...

Would be good for RLE if Bassi stepped down; he has overstayed his welcome.

[badtime] 07/3/2019 11:19

Tempted to add

[hugepants] 07/3/2019 11:15

Invesco still offloading no doubt

[cwa1] 05/3/2019 08:06

For the little it is worth, I've just emptied the accumulated dividends out of one of my accounts and topped up with a handful at just under 50.5p. We'll see.......

[sleepy] 04/3/2019 23:11

Looks like they are even better value today (and over 1 million shares traded)

[badtime] 04/3/2019 18:04

Nice day to add

[sleepy] 01/3/2019 09:55

Sky

Thank you for pointing out the 27% discount and the 6.9% yield. Hopefully these overdiscount the negatives

When Mr. Bassi CBE got involved in the company in 2006 he paid the equivalent of 100p per share. That would support your contention that they are a trade rather than a long term investment. I hope too many of their big holders don’t think the same way

My impression is that currently valuers are trying to be fairly conservative due to uncertainties over Brexit and its effects. A positive resolution to Brexit could lead to a future bounce in reported commercial property values

[skyship] 01/3/2019 09:24

Last year we had the Finals on 20th March; so perhaps in just 3 weeks we will have the NAV updated to Dec'18.

The portfolio is a bit of a mixed bag to say the least (see P17 below); however at 51p with the discount @ 27.2% and the yield @ 6.86% I've decided to buy back in for a few. Bought yesterday @ 50.9999(!); and considering whether to add further...



RGL of course remains my largest propco holding, followed by HCFT. Those are two "conviction" holdings; whereas I view RLE as a trade.

[sleepy] 01/3/2019 08:41

May I ask when Invesco first declared a holding of over 25% in the company?

[sleepy] 28/2/2019 21:10

And chunky salaries

But reading this thread I assume the Executive Directors are well (only?) focused on shareholder value

[hugepants] 28/2/2019 20:08

Interesting looking at that chart at the top of the thread. Since May 2017 the share price has dropped about 20% over which time the NAV is up 6%. So the discount has increased from about 10% to 27%
They've also been paying chunky dividends in the meantime.

[clausentum] 28/2/2019 19:11

Probably 500,000 either way

[tiltonboy] 28/2/2019 11:08

250k either way

[clausentum] 28/2/2019 09:55

another 500,000 sold

[badtime] 20/2/2019 13:07

I took that as a given :)

[tiltonboy] 20/2/2019 12:27

I took them

[badtime] 20/2/2019 12:04

Ask has slipped a bit ..top up time?

[hugepants] 29/1/2019 21:27

Invesco have sold another 1%. Only another 24.9% to go so once they've shifted that little lot these will really start to motor.

[hugepants] 22/1/2019 08:48

A good write-up here from November's IC.