Regional Reit Share Discussion Threads

[hammonkp] 14/1/2019 12:16

Regional REIT signs Bristol’s largest out-of-town office letting in Q4 2018 for second quarter running

hxxp://www.regionalreit.com/media/press-releases/2019

London & Scottish Investments Limited (“LSI”), Asset Manager to Regional REIT Limited (“the Group”), the UK regional office and industrial property focused real estate investment trust, today announces that it secured Bristol’s largest letting in the out of town office market for the second quarter running in 2018.

The terms of the lease, agreed in December, see the Ministry of Defence take 32,000 sq. ft. of office space at 800 Aztec West, for a ten-year period. This represented Bristol’s largest out-oftown office letting in 2018, and follows the lease agreed with Edvance SAS, which was the largest out-of-town letting in Bristol agreed in Q3 of 2018

[minerve] 12/1/2019 11:46

Thanks SKYSHIP. Another useful post.

[skyship] 12/1/2019 10:52

Brightncheerful posed a Q. over on Lemonfool:

“there is the question of where, without any rental growth, future growth is going to come from.”

I'm sure most of us here would be able to reply to that question. I did so, but wonder whether I missed any other reasons (if so, pls advise), though I did provide a fair few - see all below:
================

A perfectly legitimate question; and as a commercial real estate bull (esp. in the UK regions) one I am happy to answer for you:

# rent reviews
# change of use
# portfolio sales and reinvestment on higher yields
# lease extensions (tenancy renewals on longer leases)
# increased occupancy (lettings of empty space)
# property refurb.
# peripheral development
# restricted development driving up local property rentals/values
# & there are likely others I have omitted!

Among other places, read P22 of this RGL Presentation:


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

[rcturner2] 08/1/2019 08:11

I have doubled up here today.

[skyship] 03/1/2019 16:58

A 336k trade declared after hours @ 95p.

We've seen a nice bounce back to 94.5p after that excessive sell-off to 90.5p. The Sp now is at the same levels as seen over the early summer. We've also had that 1.85p dividend, so RGL has nicely outperformed the wider market.

[cwa1] 24/12/2018 08:39

FWIW IDealing coughed up on time too.

[alter ego] 21/12/2018 22:28

Ok with HL. Paid on time.

[2wild] 21/12/2018 20:02

Not paid in Lloyds dealing or ISA accounts. Got paid in Selftrade ISA.

[lord gnome] 21/12/2018 18:11

Paid today no worries. I'm with ii and they are usually prompt.

[nerja] 21/12/2018 17:48

bothdavis,

Same problem plus JLEN not paid with the halifax

[bothdavis] 21/12/2018 17:36

Anyone get their dividend today?

I'm with Halifax....nothing showing today, yet its meant to be?!

[petersinthemarket] 20/12/2018 10:09

Also topped up RGL in my wife's LT pf yesterday; safe, boring, high yield, hefty discount to nav around 90p.

[mridyard] 20/12/2018 09:53

Spec, totally agree with your comments I hold WHR which I bought as a cheaper alternative to BBOX. Which is now trading at 10% discount to NAV.Regarding INTU for me this is a speculative play which may not work out. I like to buy distressed stocks and I get it right about 70% of the time so it's been very profitable over the years.

[spectoacc] 20/12/2018 09:26

@mridyard - personally I wouldn't touch INTU with a sh*tty stick, I think it's in terminal decline and Whittaker's loaned-out stake in it could make things very interesting, should it reach the point where the banks call it.

I think the warehouse co's - for which I include RGL, tho a lot of offices - are undervalued. On anything resembling a hard Brexit, more warehouse space is needed as supply chains lengthen. On a reasonable (or no) Brexit, there's currently a hefty supply/demand mismatch, particularly last mile & giant sheds.

I see c.10% discounts as great value. A full-blown recession would change that view, something that would mitigate the supply chain demand too.

ESP I like, but it's a radically different sector. In fact, the differences btwn each of say INTU, ESP, RGL, BBOX, and eg SHED/AEWU, are almost as large as between sectors.

[mridyard] 20/12/2018 09:11

At the moment property seems to be fairly priced. All my REITs including INTU are managing to sell assets above book value. The lenders seem to be very bullish on the property market offering very low interest rates fixed for 10yrs. PHP and ESP renewed debt today.Anyway could not resist topping up RGL today.

[spectoacc] 20/12/2018 07:25

FTSE called down over 100 this morning so - yes! :)

Edit - love how quiet the BBs are on heavily red days - these are the best days to be buying!

[lord gnome] 19/12/2018 23:06

Sums it up nicely, eeza.

[spectoacc] 19/12/2018 16:26

@RCT - unless Corbyn/McDonnell get in, then quite likely ;)

Oops - breaking my own rule.

Anyway - the issue with all the property co's as far as I can see is that we haven't had a recession for ages. The world (irrespective of Brexit) appears to be slowing. The hangover from 2008, ZIRP, QE etc may soon bite. Or not. But if it does, and the business cycle hasn't actually been defeated, then a lot of the NAVs could have a long way to fall. 10% discounts are as nothing if your NAV drops 30% over 2 years.

Retail may be the canary in the mine in that regard. Does anyone believe INTU's NAV for eg? Or understand why HMSO are still buying back shares?

All needs reading in the context of two posts above ;)

[rcturner2] 19/12/2018 16:18

These things pass very quickly. There are continual sell offs when people get nervous, most share are held long term by institutions and they generally come back again soon enough. What matters is the underlying performance of the company in which you hold the shares. Brexit is a balls up but that doesn't mean that it shouldn't happen, since when did it come to pass that economic interests dictate all our decisions? I doubt very much that any of the scare stories will come to pass. The main argument of the remainers seems to be that we shouldn't leave the EU as we will collapse into something akin to North Korea, which is a bizarre attitude.

[spectoacc] 19/12/2018 15:54

Got far too many RGL already from higher, but it's so unloved I've had to get a few more.

Who knows where everything's headed, but I'd rather buy cheap(er) than dear.

BBOX a good example of that - goodbye premium. Quite a few now on nice discounts.

[fenners66] 19/12/2018 15:29

"anyway enough of this" as long as you got your say in first, eh?

[essentialinvestor] 19/12/2018 14:55

Only mentioning political context is terms of asset pricing, just for clarity.

[mridyard] 19/12/2018 14:54

The share price drop is down to human behaviour. Studies into Retail Investors showed that they pulled out a record amount of cash from the markets in 2008 (at the peak of the crash), and put in a record amount of cash in 2007 (right before the crash). The conclusion was most retail investors get greedy and panic at inopportune times. This is due to the basic fear/greed mechanism. The study was into why most retail investors loose money. Don't let emotions control your investment decisions.

[lord gnome] 19/12/2018 13:16

That's the way I see it EI. Given the mess that our politicians have got themselves and the country into, this could last some time and cost a lot of money.