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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Schroder European Real Estate Investment Trust Plc | SERE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 2.00 | 2.98% | 69.20 | 09:55:10 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 67.00 | 67.00 | 69.20 | 67.20 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT TRUSTS |
| Top Posts |
|---|
Posted at 29/1/2025 00:24 by rjmahan RCTURNER - if your share is trading at a discount, you know the assets real value, such that you make your investors a profit - why not buy back your own shares if its the best risk adjusted invesment you know.To me its one of the best possible uses of shareholder funds. |
Posted at 28/1/2025 14:59 by rogerrail Kepler research report, FWIWhTTps://www.trus |
Posted at 27/1/2025 14:23 by essentialinvestor £1.25-£1.30 will get SHED, I previously assumed £1.25-£1.35.LMP as a bidder - all idle speculation only on my part. Institutional investors get increased liquidity as a result. |
Posted at 27/1/2025 13:23 by rcturner2 I never understand investment trusts buying back their shares.Investors have literally given them their money to invest according to the mandate of the trust. Any IT with excess cash should invest it in more assets. |
Posted at 26/1/2025 11:47 by kenmitch SERE Share buybacks will be a waste of money as Trusts are finding out the hard way.There is a classic example of the money wasted on buybacks in Investors Chronicle this week. It’s SEQI (SEQUOIA ECONOMIC INFRASTRUCTURE INCOME TRUST). They’ve spent £125 million buying back 10% of their shares in by far the biggest buyback in the sector. The discount to NAV was 6% when they started buying back. It has now widened to 15.7%. So much for buybacks helping to narrow the discount! A Manager is quoted saying “We could double the buybacks and it wouldn’t change things. They just show we are confident in the business.” What’s the point then of continuing with their buybacks even now while admitting that they haven’t been effective so far despite £125 million being spent on them? So they’ve spent £125 million to achieve what??????? This is what they’ve achieved with that waste of money. A discount doubling instead of reducing and the other achievement apparently is to show their confidence in the business. That’s a very expensive way of doing that. AND big buybacks are shrinking these Trusts and reducing the capital base and making them more illiquid. Some Trusts are getting the message at last and bemoaning that their buybacks hadn’t worked as hoped. When will more commentators and bb posters get the message too? |
Posted at 05/4/2024 11:01 by hugepants Yes its written down to squat. Kepler make the following observation on the debt attached to the shopping centre;"Although the headline figure for gearing is 24%, in effect SERE is geared c. 20%. This is because one asset, a Seville retail asset, is written down to a value of zero. There is €11.7m of debt secured against this asset, with no recourse to any other assets . The lender collects all income from this asset which it uses to pay interest. Thus, from an investor perspective, having written the investment to zero from both an income and capital perspective, it has no day-to-day impact on the rest of the portfolio. Jeff believes that there is very little chance of recovering any value from this asset and all the cashflows from the asset go to servicing the debt. Although a conclusion hasn’t been reached, one possible outcome is that the asset is handed over to the lender at the end of the loan's term. Because shareholders have already foregone any value for this asset, which is held within a structure with no recourse to the rest of the company, this tranche of debt would have no effect positively or negatively on SERE's NAV should the rest of the portfolio rise or fall in value, and so one can consider the gearing to be c. 20% from the perspective of what gearing will mean for net asset value total return. In a scenario where this specific asset rises in value significantly, which is very unlikely at this stage, then of course this would have a positive impact on NAV." |
Posted at 29/11/2021 17:02 by cwa1 29 November 2021NOTICE OF FULL YEAR RESULTS Schroder European Real Estate Investment Trust plc, the company investing in European growth cities, will announce Full Year results for the 12 month period ended 30 September 2021 on Tuesday, 7 December 2021. There will be a webcast presentation for analysts and investors at 9.00am GMT/11.00am SAST on the morning of the results announcement. For details of the meeting, please get in touch with Schroders or FTI Consulting, with relevant contact details below. |
Posted at 07/7/2021 12:58 by speedsgh ~ Fall in NAV to 147.4 cents (31/12/20 150.7 cents) due to write down of Seville asset to zero.~ Quarterly dividend increased to pre-Covid level of 1.85 cents. ~ Two special dividends totalling 4.75 cents to be declared over next 12 months from profits of successful sale of Paris, Boulogne-Billancourt Half-year Report - FOCUS ON ASSET QUALITY UNDERPINS RESILIENT PERFORMANCE AND DIVIDEND INCREASE -SIGNIFICANT FIREPOWER AVAILABLE FOR POST-PANDEMIC ACQUISITIONS- Schroder European Real Estate Investment Trust plc, the company investing in European growth cities and regions, today announces its half year results for the six months ended 31 March 2021. · Continued resilience of portfolio income through the Covid-19 pandemic, with rent collection remaining strong at approximately 92% for the six month period. Includes 94% of rent collected for the quarter ended 31 March 2021 · Following the successful execution of the Paris, Boulogne-Billancourt sale, there is €60 million of investment firepower for earnings enhancing initiatives · Portfolio value, including cash, of €259.9 million (HY 2020: €247.3 million). Directly held properties delivered like-for-like valuation growth of €5.6 million, or 2.3%, reflecting the Company's exposure to the high growth industrial, data centre, DIY and grocery sectors · Dividends declared of €4.6 million / 3.42 cps for the six months to 31 March 2021, with a reinstatement of the pre-Covid dividend of 1.85 cps due to an improving outlook, strong rent collection, cash position and valuation resilience · Intention to declare two further distributions with a target of approximately 4.75 cents per share each by way of special dividend over the next 12 months, allowing shareholders to benefit from the exceptional profit associated with the successful execution of the Paris, Boulogne-Billancourt business plan Key Financial highlights · Net Asset Value ('NAV') of €197.1 million or 147.4 cps (30 September 2020: €201.8 million), a decrease of €4.7 million over the six month period, primarily driven by the write down of the Group's Seville exposure to nil which in part was offset by an increase in the valuation of the industrial and DIY portions of the portfolio · Loss of €0.7 million (six months ended 31 March 2020: profit of €4.9 million), resulted in a NAV total return of -0.4%. Pre-tax the Company made a profit of €0.8 million (six months ended 31 March 2020: €5.7 million) which was primarily driven by an increase in the valuation of the industrial and DIY portion of the portfolio, partly offset by the write-down of the Seville exposure to nil. · Underlying EPRA earnings of €2.8 million (six months ended 31 March 2020: €4.3 million), reflecting a temporary reduction in income until the re-deployment of the Paris sale proceeds · Low loan to value ('LTV') of 11% net of €57.0 million of available cash (29% gross of cash), with a low weighted average total interest rate of 1.4% ... Sir Julian Berney, Chairman of the Board, commented: "Despite operating against a backdrop of local and national lockdowns, the portfolio valuation has remained resilient over the period, underpinned by uplifts across the industrial portfolio, a number of asset management successes and improving and strong rent collection. As a result, we are pleased to be able to reinstate the dividend to the pre-pandemic level, whilst paying two special dividends to reflect the highly successful execution of the Paris sale and reward shareholders who continue to support the Company." "The Board remains frustrated that the share price has not reflected the robust performance of the business during the pandemic or that the current discount properly reflects its future prospects. Given the healthy cash position, the Board will continue to review the discount and use its discretion to execute measures that it believes should support income and total returns, including new acquisitions." Jeff O'Dwyer, Fund Manager for Schroder Real Estate Investment Management Limited, added: "Whilst uncertainty relating to the pandemic will continue, we are starting to see some positive signs of growth over 2021 as lockdowns ease and consumer and investor confidence returns. The proceeds from the sale of Boulogne-Billancourt substantially strengthen the Company's balance sheet and provide significant operational and financial flexibility. We are focused on identifying attractive income-generating opportunities in future proof assets that meet our strict investment criteria. These will provide further diversification benefits to the portfolio and assist in maintaining an attractive dividend covered from sustainable rental income, as we seek to maximise shareholder returns." |
Posted at 09/12/2020 12:04 by speedsgh European Real Estate: Alive and kicking in the Covid crisis - Video of the recent one-hour programme, including the debate and Q&A, involving Jeff O’Dwyer, fund manager of the Schroder European Real Estate (SERE) investment trust, Simon Moore, director of Trust Research, and Citywire’s Gavin Lumsden. Fresh from a Paris property transaction that added 15% to his trust’s asset value, O’Dwyer outlines the office, retail and logistics properties in France, Germany and the Netherlands he believes offer the most exciting development opportunities. In his presentation and the discussion, O’Dwyer seeks to dispel some of the fears around commercial property during the coronavirus pandemic, explaining: ~ how two of the trust’s three retail properties have performed very strongly during the Covid-19 outbreak; ~ why offices have a future if they remain modern, relevant and accessible; ~ the sort of logistics properties he is seeking to add to the portfolio to take advantage of online shopping in Europe; ~ advantages of a diversified portfolio spread across different sectors; ~ how he and his team identify sub-markets in Europe’s best cities to find well-positioned properties that can be refurbished on higher rents to produce growth in capital and income; ~ the importance of working with commercial tenants to maximise occupancy, rental growth and sustainability of properties. In the Q&A, O’Dwyer answers investors’ questions on dividends, which were halved during the first coronavirus lockdowns and subsequently raised by the board to three quarters of their pre-crisis level, leaving the trust on a 5.5% yield; He also explains what the trust’s board is doing about the trust’s wide, but narrowing, share price discount. |
Posted at 11/11/2020 12:02 by speedsgh European Real Estate: Alive and kicking in the Covid crisis - Citywire and Schroders are giving you a chance to learn more about the investment opportunity in European commercial property and to quiz Schroders’ Jeff O’Dwyer about the pros and cons of real estate investment trust at a special one-hour online event at 11.30am on 19 November. Investors have fled the mainstream commercial property market in Europe this year as the coronavirus pandemic has accelerated the decline in high street retailing and raised a big question mark over the future value of offices. These are understandable concerns but, according to O’Dwyer, fund manager of Schroder European Real Estate (SERE), a £174m investment trust offering a 5.5% dividend yield and a wide 40% share price discount, the sector has been oversold. The depressed share prices of diversified real estate investment trusts indicate investors see little value in their portfolios, which O’Dwyer, head of pan-European Real Estate at Schroders, believes is a mistake. AGENDA As with our previous broadcasts, this programme will start with a presentation by O’Dwyer and be followed by a discussion on European real estate with a professional wealth manager alongside O’Dwyer (pictured). There will also be plenty of time for you to submit questions before or on the day in a Q&A that will conclude the online session. In this Citywire Virtual event, O’Dwyer will discuss the opportunities that the real estate sector offers active investors in Europe. With reference to specific case studies, he will show how real estate is about far more than battered retailers and will explain the positive trends that exist alongside the economic pressures from Covid-19. Topics will include: ~ How SERE builds value in the office sector (eg, Boulogne, Paris); ~ Opportunities in data centres and infrastructure (Netherlands); ~ Preserving value in its one shopping centre investment (Seville); ~ ‘Winning cities’ and the story in Berlin; ~ Rental collection supporting attractive dividends. |
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