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Share Name Share Symbol Market Type Share ISIN Share Description
Schroder European Real Estate Investment Trust Plc LSE:SERE London Ordinary Share GB00BY7R8K77 ORD GBP0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.90 -1.2% 73.90 73.00 74.80 76.00 73.80 76.00 168,763 16:35:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 14.5 8.0 4.0 18.4 99

Schroder European Real E... Share Discussion Threads

Showing 151 to 173 of 175 messages
Chat Pages: 7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
22/6/2022
07:05
Hi hindsight. I no longer have a holding in SERE but maintain a passing interest.
speedsgh
21/6/2022
17:45
Thanks speedsgn. Roughly what I expected
hindsight
21/6/2022
12:34
HALF YEAR RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2022 - HTTPS://www.investegate.co.uk/schroder-euro-real--sere-/rns/half-year-report/202206210700025433P/

SECOND INTERIM DIVIDEND AND SPECIAL DIVIDEND - HTTPS://www.investegate.co.uk/schroder-euro-real--sere-/rns/second-interim-div.-and-special-div./202206210701015327P/

speedsgh
11/3/2022
15:39
Announcement of NAV and Dividend - HTTPS://www.investegate.co.uk/schroder-euro-real--sere-/rns/announcement-of-nav-and-dividend/202203100700082264E/

Schroder European Real Estate Investment Trust plc ("SERE" or the "Company") provides a business update and announces its unaudited net asset value ("NAV") as at 31 December 2021, together with its first interim dividend for the year ending 30 September 2022:

- Unaudited NAV as at 31 December 2021 increased by 0.8% to 201.2 million or 150.4 cents per share

- NAV total return amounted to 2.1% over the quarter and 4.5% for the twelve months to 31 December 2021

- A first interim dividend of 1.85 euro cents per share to be paid for the year ending 30 September 2022

- Property portfolio is independently valued at €221.4 million, reflecting a like-for-like increase of the directly held properties over the quarter of 2.2%, or €4.4 million

- Key portfolio level initiatives during the period included:

o the strategic purchase of a 3,800 sqm industrial warehouse in Venray, the Netherlands, increasing the portfolio's industrial weighting to c.23%

o The Paris Boulogne-Billancourt refurbishment remains on budget from both a cost and timing perspective. The remaining 40% (c.€40 million) of the sale price is due to be received during 2022, with the proceeds partially used to fund the remaining c.€16 million refurbishment cost

o rent collection during the quarter, and January and February 2022, of 96%

- The Company has an investable cash balance of approximately 30 million and a loan to value ratio on the total portfolio of approximately 18% net of cash and 28% gross of cash...

Interim dividend

The Company continues to pay a full dividend equating to the pre-covid dividend level. The first interim dividend of 1.85 euro cents per share for the year ending 30 September 2022 represents an annualised rate of 6.2% based on the current share price 5 . As announced previously, the Company allocates a portion of the forward funded net sales proceeds from the Paris Boulogne-Billancourt asset towards covering the dividend income shortfall whilst it is being refurbished and pending the reinvestment of the remainder of the sale proceeds.

Dividend cover from income for the quarter ended 31 December 2021 was 64% excluding extraordinary items incurred in the quarter. These comprised a withholding tax provision of €634,000 and one-off service charge-related costs relating to the Group's Frankfurt and Hamburg assets. Including both these items, the dividend cover is 27%.

The interim dividend payment will be made on Wednesday, 20 April 2022 to shareholders on the register on the record date of Friday, 1 April 2022. In South Africa, the last day to trade will be Tuesday, 29 March 2022 and the ex-dividend date will be Wednesday, 30 March 2022. In the UK, the last day to trade will be Wednesday, 30 March 2022 and the ex-dividend date will be Thursday, 31 March 2022...

speedsgh
10/1/2022
07:32
Property portfolio valuation and rent collection - HTTPS://www.investegate.co.uk/schroder-euro-real--sere-/rns/property-portfolio-valuation-and-rent-collection/202201100700088142X/

Schroder European Real Estate Investment Trust plc ("SERE" or the "Company"), the company investing in real estate in European growth cities, today provides an update on the independent valuation of the property portfolio and rent collection as at 31 December 2021:

- The direct property portfolio was independently valued at €207.1 million, reflecting a like for like increase over the quarter, excluding the impact of a recently acquired industrial warehouse in Venray, Netherlands (valued at €1.65 million), of 2.2%, or €4.35 million. In addition, the Company has a 50% interest in a joint venture in Seville which continues to be recognised at nil interest

- The valuation increase over the quarter was driven by yield compression achieved across office, retail and logistics assets within the portfolio reflecting the benefit of having a diversified portfolio as well as the strength of those individual assets

- The majority of the valuation uplift was driven by:

o Improved yield re-rating at the Berlin retail DIY investment, delivering a valuation increase of €1.8 million, or 6.2%

o Improved yield re-rating at the Hamburg office investment, delivering a valuation increase of €1.2 million, or 5.2%

o Improved yield re-rating at the Rennes logistics investment, delivering a valuation increase of €0.9 million, or 4.8%

- Approximately 96% of rent due for the quarter ended 31 December 2021 has been collected.

speedsgh
30/12/2021
11:58
NOTICE OF DIVIDEND CURRENCY EXCHANGE RATE (STERLING) - HTTPS://www.investegate.co.uk/schroder-euro-real--sere-/rns/notice-of-dividend-currency-exchange-rate-sterling/202112291300079660W/

On 7 December 2021, Schroder European Real Estate Investment Trust plc (the "Company") announced its fourth interim dividend for the year ended 30 September 2021 of 1.85 euro cents per share and a special dividend of 4.75 euro cents per share, resulting in a combined interim dividend of 6.6 euro cents per share.

Shareholders on the UK register will receive their dividends in sterling, unless an election is completed and registered with the Company's registrars. The deadline for the currency election in respect of the forthcoming interim dividend payment was 24 December 2021.

This announcement confirms that the currency exchange rate applicable for the interim dividend for shareholders on the UK register who did not make a currency election before the applicable deadline and who therefore will receive their dividend in sterling is:

Declared dividend --- Exchange rate --- Dividend to be paid for those receiving dividends in sterling

1.85 euro cents per share --- 0.84050 --- 1.55492 pence per share
4.75 euro cents per share --- 0.84050 --- 3.99238 pence per share

The dividend will be paid on 14 January 2022 to shareholders who were on the register at the close of business on 24 December 2021.

speedsgh
22/12/2021
17:08
CWA1 Did the same today for exactly the same reasons :)

I thought it would stick above 110 in August, but was proved very wrong there, so a little bit of "bird in the hand" seems prudent

alan pt
22/12/2021
12:32
For the zero it is worth, I've taken a small slice off the table at 118p ahead of XD day tomorrow. Hoping I might get back in more cheaply-but no worries if I don't as I've got enough left and had a nice run on the ones I clipped
cwa1
22/12/2021
10:12
And another special dividend and of course decent ordinaries to come in '22.
Alan - some of this rerating will stick IMO.

spin doctor
22/12/2021
09:41
Going crazy this morning, buys at 119.5 going through. Will be interesting to see what happens when it goes ex - will we be back under 105, or will at least some of the rise stick?
alan pt
22/12/2021
08:03
So ex the ordinary AND special dividend tomorrow, paid 14/1
cwa1
15/12/2021
15:41
Nice bounce! Seems that the Mail on Sunday is more popular than I realised :)
alan pt
12/12/2021
13:03
SERE the main buy tip in today's Mail on Sunday from Midas:-

https://www.thisismoney.co.uk/money/investing/article-10299265/MIDAS-SHARE-TIPS-Property-trust-help-build-income.html

cwa1
07/12/2021
14:58
Not entirely surprising when the ordinary dividend is only 69% covered. They really need to get some of that cash reinvested

I'd take a guess that we will see a bounce once the perceived risk of the BB office refurb is gone next year. But maybe sooner if they do a bit of buyback, certainly worked for SREI, though they had to stick with it for a while

alan pt
07/12/2021
13:15
Interesting, they sound frustrated:-

Share price

The shares continue to trade at a discount, which as at 1 December 2021 reflected a c.20% discount to NAV. The Board remains frustrated that the share price has not reflected the recent reinstatement of the dividend to pre-pandemic levels or the intention to release approximately 9.5 euro cents per share as special dividends. Annualising the 1.85 euro cents per share quarterly dividend (to 7.4 euro cents per annum) provides an attractive 6% dividend yield based on current share price. We do not believe that the share price reflects the strength of the Company's balance sheet, proven asset management value creation and real estate exposure in growth European cities. Given the healthy cash position, the Board will continue to review the discount and its discretion to execute a share buyback programme as well as new acquisitions consistent with its 'Winning Cities and Regions' strategy.

cwa1
07/12/2021
08:57
Dividend Declaration - HTTPS://www.investegate.co.uk/schroder-euro-real--sere-/rns/dividend-declaration/202112070701027263U/

Schroder European Real Estate Investment Trust plc (the "Company") announces its fourth interim dividend for the year ended 30 September 2021 of 1.85 euro cents per share.

To allow shareholders to benefit from the profit associated with the successful execution of the Paris, Boulogne-Billancourt business plan, the Board has also declared a special dividend of 4.75 euro cents per share. This brings the combined interim dividend to 6.6 euro cents per share.

The combined interim dividend payment will be made on Friday, 14 January 2022 to shareholders on the register on the record date of Friday, 24 December 2021. In South Africa, the last day to trade will be Tuesday, 21 December 2021 and the ex-dividend date will be Wednesday, 22 December 2021. In the UK, the last day to trade will be Wednesday, 22 December 2021 and the ex-dividend date will be Thursday, 23 December 2021...

speedsgh
07/12/2021
08:55
Final Results - HTTPS://www.investegate.co.uk/schroder-euro-real--sere-/rns/final-results/202112070700037471U/

ASSET MANAGEMENT SUCCESSES UNDERPINNING VALUATION AND DIVIDEND GROWTH

-SUBSTANTIAL INVESTMENT FIREPOWER TO DRIVE FUTURE RETURNS-

Schroder European Real Estate Investment Trust plc, the company investing in European growth cities and regions, today announces its full year results for the year ended 30 September 2021.

Quarterly dividends at pre-Covid level and award of special dividend

· Continuation of pre-Covid dividend of 1.85 euro cents per share (cps)

· Additional special dividend of 4.75 cps announced, with intention to declare a further special dividend targeting approximately 4.75 cps alongside the next interim results, reflecting the profitable sale and refurbishment of Boulogne-Billancourt ("Paris B-B")

Financial highlights: Well positioned with improving earnings and low loan to value with over €40 million of investable firepower

· Net Asset Value ('NAV') of 199.5 million or 149.2 cps, (30 September 2020: 201.8 million or 150.9 cps);

· NAV total return of 3.2% based on an IFRS profit of €6.2 million (30 September 2020: 16.2% / €28.4 million) driven primarily by valuation increases in the industrial and DIY assets, together with the German office portfolio, which was offset by the write down of the Seville exposure to € nil;

· Underlying EPRA earnings of 6.6 million (30 September 2020: 8.6 million), which will increase with the redeployment of Paris B-B sale proceeds and as rent collection improves;

· Loan to Value of 16% net of cash/28% gross of cash (30 September 2020: 24% net of cash/28% gross of cash) at a weighted average total interest rate of 1.4% and a weighted average loan duration of 2.9 years, with the earliest loan maturity in 2023;

· Total dividends declared of 11.87 cps with 7.12 cps from ordinary dividends. Dividend cover of 69% for the ordinary dividends (30 September 2020: 112%), with a portion of the net sale proceeds from the disposal of Paris B-B to be allocated towards covering the shortfall in income in the short term

· Over €40 million, excluding debt, of investment firepower available and strong pipeline of acquisition opportunities, positioning the Company for future growth

[cont'd]

speedsgh
29/11/2021
17:02
29 November 2021

NOTICE 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.

cwa1
25/11/2021
20:12
Got a mention in AJ Bell Shares Magazine article today- "The lesser known property stocks well worth your attention"
"With its sizeable discount, a 6% dividend yield, €50 million of investable cash and a clear vision of how to maximise the value of the portfolio, this trust looks like one to lock away for the long term."

alan pt
09/11/2021
11:30
CWA1, I had a couple of small fill top ups at 101p. Maybe the rise in covid in europe produced a seller
hindsight
28/10/2021
18:23
Approaching top up for me CWA1. Paris office is 15%, but rest office 15% is in Germany where office seem to be doing ok.
hindsight
28/10/2021
13:28
Had a few SERE on the book at 102p that I didn't expect to be taken-but it was. Seems very unpopular. Not sure whether to be happy or sad ;-)
cwa1
25/10/2021
12:04
Dividend currency exchange rate (Sterling) - HTTPS://www.investegate.co.uk/schroder-euro-real--sere-/rns/dividend-currency-exchange-rate--sterling-/202110251130031438Q/

Declared dividend: 1.85 euro cents per share

Exchange rate: 0.84550

Dividend to be paid for those receiving dividends in sterling: 1.56418 pence per share

speedsgh
Chat Pages: 7  6  5  4  3  2  1
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