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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
  0.25 0.24% 106.25 105.50 107.00 106.50 106.50 106.50 126,025 16:35:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 17.5 26.6 19.2 5.9 142

Schroder European Real E... Share Discussion Threads

Showing 51 to 74 of 125 messages
Chat Pages: 5  4  3  2  1
DateSubjectAuthorDiscuss
06/10/2020
11:40
Yes, as apllies to any other property business. I'm not convinced of the investment csse here, but will keep this on a watchlist
essentialinvestor
06/10/2020
10:34
Isn't the NAV value subject to some downward revision on some assets ie the Seville shopping centre ?
red ninja
06/10/2020
09:05
Sharpshare, did it name who the buyer was ?
hindsight
05/10/2020
23:31
Think it's worth keeping an eye on, however what I'm less confident on is attempting to access the value of their other assets. Would be nice to see a few BOD buys. Not sure if the new COVID restrictions in Paris from today impact the construction project as the office refurb is still ongoing. Also is that a definite sale?, I'm unfamiliar with the Frech commercial property buying process. Can the buyer still withdraw from the contract before December etc.
essentialinvestor
05/10/2020
23:26
thanks, surely larger capital base means costs spread out over more assets? yes the seville deal looks like a disaster, but even so, with roughly 25% of the portfolio being crystallised at a significant premium to NAV, this leaves the remainder of the portfolio trading at such large discount, you could write that value down to 0 and still discount the remainder of the portfolio by a significant amount, and still leave a margin of safety on the current valuation.
m_kerr
05/10/2020
23:14
The capital increase since inception is circa 11%. Not including the Paris sale which is yet to conclude. Seville was a really poor buy imv, that hasn't helped sentiment. It's only a 50% share in that development which is arguably even worse if they wanted to exit.
essentialinvestor
05/10/2020
23:06
this trades on quite a large discount. any reason? i'm looking at this and thinking the only bad asset is the seville shopping centre which is about 8-9% of gross assets. they seem to have a good logical case behind each asset, and there's modest leverage. only fly in the ointment other than seville is the high ongoing charges? they seem to be going up and up year on year. 2.95% at the latest half year results. any one invested and have any idea why this is?
m_kerr
05/10/2020
15:36
Well in terms of the current situation it looks like Paris is going back in to lockdown.
essentialinvestor
05/10/2020
15:33
Need to look to the future!
sharpshare
05/10/2020
14:30
Ah right, I see what you've done. Pulled forward a muli year transcation and added it on to current NAV now.
essentialinvestor
05/10/2020
11:37
June NAV 133.4c "The final sale price of approximately €104 million will deliver net sale proceeds of approximately €70 million when completed, after deducting the c. €30 million cost of refurbishing and re-letting the building. This represents a profit on cost of c. 35%. The sale proceeds will be received in stages and the Company expects the NAV to increase incrementally as sale receipts occur. 50% of the price is to be received on exchange of the definitive deed prior to this calendar year end 2020, with the remainder payable in installments over the subsequent 18 months as construction is completed. The overall increase to the most recent published NAV as at 30 June 2020 is expected to be approximately 15%, subject to programme and cost." 15% of 133.4c is 21.3c New NAV 154.7c or 141p (GBPEUR 1.097)
sharpshare
05/10/2020
10:47
Where do you get 1.41 from?.
essentialinvestor
05/10/2020
10:30
SERE looking good value after recent sale announcement. price 70.5p NAV after sale of biggest asset around 141p so discount 50% look through net LTV about 0% Div yield about 7.25% low downside, good upside?
sharpshare
03/10/2020
17:42
This was an arguably costly mistake: Https://www.propertyfundsworld.com/2017/05/23/252027/schroder-european-reit-acquires-seville-shopping-centre Since acquisition they have spent €0.8 million on refurbishment and referenced growing competition in Seville. It also appears to be worth less than the purchase price.
essentialinvestor
15/9/2020
10:53
Rent collection c.84% of contracted rent as at 15/9/20. Q3 dividend increased to 1.39 euro cents (approx 1.28p at current fx rates), equivalent to 5.56 euro cents annualised (approx 5.12p annualised). Payable 23/10, UK XD 8/10. Dividend continues to be kept under review. Unaudited NAV as at 30/6/20 of 133.4 cents (approx 123.0p at current fx rates), a 2.1% reduction compared to 31/3/20. HTTPS://uk.advfn.com/stock-market/london/SERE/share-news/Schroder-Eur-Real-Est-Inv-Trust-PLC-Announcement-o/83256338 Jeff O'Dwyer, of Schroder Real Estate Investment Management Limited, commented: "The SERE portfolio continues to hold up well, underpinned by our city, sector and tenant diversification that has led to favourable rent collection statistics and valuation resilience. Our primary focus remains to deliver and capitalise on the Paris Boulogne-Billancourt refurbishment. Successful completion will have the potential to be accretive to NAV and, subject to disposal, provide an opportunity to further diversify the portfolio and provide a path back to the target dividend."
speedsgh
11/9/2020
11:03
Sentiment seems to have turned against property and although SERE seemed to be breaking upwards over last few days, now it seems to be heading back down. Of course with the US markets being more bearish and Covid seemingly on the rise in Europe its not a great surprise.
red ninja
08/9/2020
11:16
I would say it is a general move out of property. Retail: not looking too good ie more and more buying online. Offices: are staff going to want to go back to them. However is the negativity overblown is the question ?
red ninja
07/9/2020
14:46
What’s happening with this? Why the dip?
rjmahan
24/6/2020
09:45
Half-year Report - HTTP://www.rns-pdf.londonstockexchange.com/rns/8424Q_1-2020-6-23.pdf Sir Julian Berney, Chairman of the Board, commented: "During the first half of the year the Company has made good progress with key asset management initiatives, but we enter the second half of the year against an uncertain economic backdrop. We believe the diversification of the portfolio across different countries, sectors and tenants positions it well to withstand a period of market volatility. By reducing the dividend and retaining earnings, we have sought to strengthen the ability of the Company to mitigate the impact of Covid-19 and improve our flexibility to be able to capitalise on asset management opportunities going forward." Jeff O'Dwyer, Fund Manager for Schroder Real Estate Investment Management Limited, added: "The impacts of Covid-19 have yet to fully play out and the depth and recovery of global GDP cannot be predicted with any confidence. Over the period, the SEREIT portfolio has stood up well, underpinned by our tenant and sector diversity that has led to favourable rent collection rates and valuation resilience. Whilst early indicators are that the easing of the lockdown in our key markets is having a positive impact on our tenants' operations, we remain alert to the near-term challenges facing all our stakeholders. Longer term, we continue to believe that the portfolio's weighting towards Continental European 'Winning Cities' like Paris, Berlin, Frankfurt and Hamburg will be beneficial to its future performance and liquidity."
speedsgh
24/6/2020
09:38
Second Interim Dividend - HTTPS://www.investegate.co.uk/schroder-euro-real--sere-/rns/second-interim-dividend/202006240701048440Q/ Schroder European Real Estate Investment Trust plc (the "Company") announces its second interim dividend for the year ending 30 September 2020. In light of the ongoing market uncertainty, the Board has reduced the next quarterly dividend to 0.925 euro cents per share, equating to 50% of the target dividend level. In implementing the dividend strategy, the Board has considered the rent collection and cash position of the Company, alongside market conditions, current asset management activity and the longer term sustainable rental income from the portfolio. By retaining additional cash at this time, the Company will be better positioned to withstand the impact of Covid-19 on the portfolio. The dividend will be kept under close review as clarity improves around the extent of the impacts of Covid-19, including on future rental receipts, property values and asset management initiatives. The interim dividend payment will be made on Friday, 31 July 2020 to shareholders on the register on the record date of Friday, 17 July 2020. In South Africa, the last day to trade will be Tuesday, 14 July 2020 and the ex-dividend date will be Wednesday, 15 July 2020. In the UK, the last day to trade will be Wednesday, 15 July 2020 and the ex-dividend date will be Thursday, 16 July 2020.
speedsgh
01/6/2020
20:25
Currently rent collection not looking too bad :- "Rent collection As at the close of business on 20 May 2020, the Company had received payments on 83% of monthly rents in respect of April and May 2020. The analysis between sectors for rent collection over April and May is as follows: 98% of office; 84% of industrial/data centre use; and 57% of retail and leisure. We continue to work closely with a number of tenants to agree payment plans/rent deferral and or amendments to lease terms." However, the may have agree lower term as above and thus the divi may be somewhat lower.
red ninja
31/5/2020
11:26
This is an investment trust, right? Due to the short history of the trust, there probably is no revenue reserves.... On the other hand, a 9% yield (if no cut) seems to be very juicy indeed!
redponza
28/5/2020
19:35
Business update - HTTPS://www.investegate.co.uk/schroder-euro-real--sere-/rns/business-update/202005280700031228O/ Schroder European Real Estate Investment Trust plc ("SEREIT"/the "Company"/"Group"), the company investing in European growth cities, provides a further business update in light of the COVID-19 pandemic and prior to the announcement of its half year results expected to be published towards the end of June 2020. The Company continues to benefit from the diversification of its portfolio which comprises 13 assets, located in the growth cities and regions of Continental Europe. The portfolio has approximately 100 tenants across a range of sectors and benefits from being well balanced with approximately 75% in the office and industrial/data centre sectors, in cities including Paris, Berlin, Frankfurt, Hamburg and Stuttgart. Jeff O'Dwyer, Fund Manager, Schroder REIM, commented: "Already we are seeing the easing of lockdown measures across the geographies that we operate in positively impacting on the portfolio. We are taking a methodical approach to asset management, working closely with all our tenants to ensure we have a clear pathway to income visibility, whilst taking measures to protect the long-term interests of our shareholders." Rent collection As at the close of business on 20 May 2020, the Company had received payments on 83% of monthly rents in respect of April and May 2020. The analysis between sectors for rent collection over April and May is as follows: 98% of office; 84% of industrial/data centre use; and 57% of retail and leisure. We continue to work closely with a number of tenants to agree payment plans/rent deferral and or amendments to lease terms. Portfolio update Retail represents 25% of the portfolio, of which 15% is invested in a Lidl supermarket in Frankfurt and a Hornbach DIY unit in Berlin, both of which have remained open for trade throughout. The Metromar Centre in Seville is the sole shopping centre in the portfolio and represents 10% of the portfolio by value. The centre partly re-opened on 25 May 2020 and the Company is implementing a plan and working with tenants to establish on-going trading positions. The strategy is also focused on working with centre management and tenants to create a safe environment for tenants and consumers. The Company also continues to progress the previously announced refurbishment of its largest investment in Paris which is leased to engineering and technology consulting specialist, Alten. There will be further updates as we progress matters. Dividend As previously announced, the Board will continue to consider carefully future dividend payments, which are under review in light of the short term cash position, in conjunction with longer term sustainable income generated from the portfolio. This will be monitored and a decision will be taken as clarity improves around the economic backdrop.
speedsgh
18/4/2020
23:17
Anyone know why the decline on Friday ?
rjmahan
Chat Pages: 5  4  3  2  1
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