Regional Reit Share Discussion Threads

[renewed1] 05/12/2018 18:42

Seems like a pretty good reason to me!!

[skyship] 05/12/2018 16:07

Hardly - remember we're recently Ex the 1.85p dividend, so we are at equivalent c97.6p - 3% off the recent high; and 3% above the recent low...

Perfectly happy to hold.

[sirgainalot] 05/12/2018 15:42

This is starting to look at dull as PCA. :(

[bpdon] 03/12/2018 17:00

Hmmm. Indeed langland. That was a fair old smack down on very average volume.

[langland] 03/12/2018 16:45

Bizarre trade here today. 320 trades- mostly AT trades and sells. Someone trying to kill the market?!

[andyj] 03/12/2018 12:06

Back into a downtrend.

[skyship] 27/11/2018 13:36

Incidentally, I totally forgot to answer the legitimate concern recently raised by Jombaston re the uncovered dividend and high performance fees.

Well, as many here will know, this latter is very well covered in Note 34 of the last Finals – see link herewith:



There are a few comments I would make:

# Personally I see capital and income as two halves of the same coin. So, if it means that part of the income cover has effectively to be paid from capital gain, then for me that does not pose a concern. Of course it can be stated that in a downturn the NAV will fall; and accordingly the current 15% NAV premium to the share price may partly erode, so less “reserve” with which to maintain the dividend. The obvious rejoinder is that in such circumstances the performance fee will not be earned.

# It should be borne in mind that hence forward 66% of any performance fee earned will be paid in shares

# The combination of asset management fees and performance fees (this latter only in a good year) does indeed amount at the moment to a high TER; however there are not many who will say that the fees are not royally earned – take a look at the performance born of an extremely successful strategy. I have no problem with rewarding success!

As eeza stated in 733 above:

"Performance fee not a problem, as long as they 'earn' it."

[skyship] 27/11/2018 09:21

dendria - thnx for that - good to have the final confirmation.

As to the Edison research - frankly I was a tad disappointed at their end'18 f/c NAV of 114.8p. But upon reflection one has to accept the slight slowdown we've seen in H2; and the effects of their understandable delay in recycling the cash from those earlier sales.

Keeping their powder dry and waiting for an irresistible opportunity seems a highly commendable strategy.

======================================================

"The strength in the commercial property investment market is allowing Regional REIT (RGL) to realise gains from its asset management strategy, reposition the portfolio for new growth opportunities and progress with its targeted reduction in gearing. Portfolio activity is generating strong capital returns, but with property sales running ahead of reinvestment, income is being temporarily dampened. Reinvestment and refinancing of higher-cost debt should provide a boost to FY19 and we forecast an increased dividend, fully covered by adjusted earnings.

Industry outlook:

Regional occupier demand is generally firm, driven by continuing economic growth and business relocation away from London, while new supply remains limited. Meanwhile, the yield spread between the regions and London remains historically wide and offers potential for further narrowing."

[solarno lopez] 27/11/2018 08:30

Very good news

[dendria] 27/11/2018 08:29

CIC confirm in their prelims today that they are out:

'Sold all 26.3 million Regional REIT shares for £25.5 million.'

[skyship] 22/11/2018 20:39

Edison update reads well, but their NAV as at 31/12/18 is surprisingly conservative, especially in view of already banked profits from H2 sales.

[dendria] 22/11/2018 12:54

Edison have another note out today too...

[ramellous] 22/11/2018 09:50

Xd had little effect again..

[skyship] 21/11/2018 09:52

Excellent thnx for that Tilts.

These go XD tomorrow...

[tiltonboy] 21/11/2018 09:17

Cenkos note out. Forecasting 2019 NAV of 124p, and dividend of 8.25p

[holts] 17/11/2018 11:06

Jonwig ,

Thanks.

[speedsgh] 16/11/2018 14:15

CIC Preliminary Results for FY ended 30/9/18 are due at the start of Dec so maybe that will offer some clue as to their current holding (if any).

[eeza] 16/11/2018 13:55

No-one knows. Didn't have to declare once below 3%. Had around 18m to offload last announcement.

[spectoacc] 16/11/2018 13:48

Aren't CIC out now? I forget.

[eeza] 16/11/2018 13:35

I couldn't see anything wrong either. Have added 3 times since yesterday.


But price action is remarkably similar to that just before CIC crashed the share price to low 90's.

[eeza] 16/11/2018 11:52

Well quite a lot of chunky retail sells so I must have missed something from the update.

[tournesol] 16/11/2018 11:38

Clip clop

;~)

[eeza] 16/11/2018 10:03

Seller pressing again.
Is it still CIC ?

[lord gnome] 16/11/2018 09:07

Tusk? Junker? Although he would stagger rather then ride.

[eeza] 16/11/2018 07:36

May.


Gender % requirement.