Schroder Real Estate Inv... Share Discussion Threads

[mirandaj] 06/12/2024 07:34

News regarding Nick Montgomery's promotion to Global Head of Real Estate was announced by Schroders at end of September. Well deserved. He has a very strong team.

[raj k] 05/12/2024 18:18

Just had a watch of the Interim results presentation for TR Property and Marcus Mudge has been buying into SREIT . One interesting point is he says the manager has been promoted to run the whole of the Shroeders property unit? A change of manager is likely. Was this reported in the thread, sorry have not been keeping an eye. Anyone have any info?

[cardinal3] 29/11/2024 14:19

Skinny

Thanks for the link to the presentation. The guys do give me confidence that I am in the right place and will continue to re-invest the very good dividends.

[giltedge1] 29/11/2024 12:23

Most % of offices, are let to Universities, so direct office exposure is in reality a lot less than in disclosure. One in Bloomsbury (one of few office growth areas) a great site, near Tottenham Court Road I was there last night area buzzing & right next to Elizabeth line, must be undervalued IMO, also Uxbridge Uni agreed higher rent, can't imagine tenant vacating for a long time as have configured building to their spec, also most courses at Uxbridge in health sector which is comforting. I already hold a large position but will continue to add.

[mirandaj] 28/11/2024 13:33

I found the Q&A interesting so worth listening to again if wanted

[rongetsrich] 27/11/2024 19:34

Do you want me to tell you what to do?

[yump] 27/11/2024 14:24

Just wondering whether to buy a few more although willreduce my overall yield a bit.

Just a question of how much warning we’ll get if the business environment actually does suffer from the budget wrt rentals.

[nickrl] 26/11/2024 17:47

Good to see Stanley Green finally getting close to fully let but taken a while longer than they've been suggesting. Watched the analyst presentation early doors and feel they are a bit too bullish based on a good 6mths but not reflecting that business sentiment is fragile post budget so need to show a bit of caution on any big spend imv.
Anyhow got in when share price was well down so happy holder here.

[speedsgh] 26/11/2024 11:46

Some very interesting info in the full Interim Results including asset management updates on several core properties -

~ H1 NAV total return 4.0%
~ H1 dividends totalling 1.706p, covered 102% by earnings
~ 3% increase in quarterly dividend to 0.879p

~ Long debt maturity profile (9.1yrs) with low average interest cost (3.5%)
~ 89% of debt either fixed or hedged against movements in interest rates
~ "Most of our debt comprises a long-term loan which is the longest dated, lowest cost, debt in the peer group, with a positive fair value not reflected in the Company’s NAV"
~ "The Company intends to partly repay its more expensive revolving credit facility through planned disposals, including a small sale completing post period end, with the objective to bring the net loan to value in line with our long-term target range of 25% to 35%."

~ New shareholders attracted to register, including 24% rise in retail platform shareholders (Hargreaves Lansdown, Interactive Investor and AJ Bell).
~ Size is not everything - "whilst the Company is small compared with the wider REIT universe, this does allow for a forensic concentration on asset management which has been a key driver of the attractive dividend yield premium over the sector average, with significant earnings growth potential."

[giltedge1] 26/11/2024 09:40

NAV increase, dividend increase, rent increase all positive. NAV 59p Conservative excludes gain on loan & reversionary yield 8.5% seems too high by valuer. Good to see one refurbished Swindon unit let, vacancy drops to 8% after period ending lettings. A solid hold at 7% & rising yield.

[skinny] 26/11/2024 07:02

High income return and sector leading debt profile underpins earnings growth, a fully covered and growing dividend, and a 4.0% NAV total return

- Net asset value ('NAV') increased by 1.0% to £290.7 million or 59.4 pps (31 March 2024: £287.4 million, or 58.8 pps), driven by ERV growth of 1.7%, with yields stabilising

- Dividends paid in the period totalling £8.3 million, or 1.71 pps (30 September 2023: £8.2 million, or 1.67 pps), 102% covered by EPRA earnings

- Positive NAV total return of 4.0% (30 September 2023: 1.1%)

- Long debt maturity profile of 9.1 years and a low average interest cost of 3.5%, with 89% of debt either fixed or hedged against movements in interest rates

- Further 3% increase in the quarterly dividend to 0.879 pps for the quarter ended 30 September 2024, to be paid in December 2024

Active management and increased allocation to higher growth sectors delivering continued rental growth and sustained long term outperformance against the MSCI Benchmark

- Long-term outperformance of the underlying portfolio recognised in the 'MSCI UK and European Property Investment Awards 2023', winning the 'Highest 10-year risk adjusted relative return' for all UK and Continental European funds, with a total return of 8.45% per annum to 31 December 2023

- Attractive underlying portfolio yield profile, with a net initial yield of 6.1% (MSCI Benchmark: 5.1%) and a reversionary yield of 8.5% (MSCI Benchmark: 6.1%) (31 March 2024: 8.4%)

- Like-for-like and net of capex the portfolio valuation increased by 0.9% to £465.5 million (31 March 2024: £459.3 million)

- 45 new lettings, rent reviews and renewals across 476,000 sq. ft completed since the start of the period, totalling £4.8 million in annualised rental income

- Six-month total return from the underlying portfolio of 3.8% (MSCI Benchmark: 2.6%), largely driven by a higher income return of 2.9% (MSCI Benchmark: 2.4%)

- Post period end, completed £1.475 million disposal of non-core office asset in Bedford, 23% ahead of 30 September 2024 book value

Progressed sustainability strategy, which underpins our active management

- Further progress delivering on the Company's sustainability and Net Zero Carbon ('NZC') commitments, with four asset-level NZC audits completed

- Retained Gold award for reporting under the EPRA Sustainability Best Practice Recommendations, for the seventh year running

- Maintained the Company's Global Real Estate Sustainability Benchmark ('GRESB') score of 79 out of 100, placing second amongst a peer group comprising seven UK diversified listed REITs (2023: first of six)

Alastair Hughes, Chair of the Board, commented:

"We have witnessed some yield compression for the first time since June 2022 and, perhaps more importantly, tenant demand outstripping available supply in several sectors driving rental growth and overall returns. This favourable momentum combined with our quality portfolio, strategic asset management, cost discipline and our low cost of debt should provide the opportunity for sustained and growing income."

[rongetsrich] 25/11/2024 14:46

Sold today as I have this one peaking any day now and then falling back again. 52 is my ceiling and anything below 49 is buying territory.

[rongetsrich] 23/11/2024 18:34

There's a nice trading band if you study the chart.

[skinny] 22/11/2024 11:23

Still 12+ year hold for me.

[shieldbug] 22/11/2024 10:59

SREI has become one of my largest holdings. Started buying during ridiculously cheap times of Covid and continued into the 50p+ range. Average prices under 40p not including divis that keep coming. Not selling any.

[lord gnome] 22/11/2024 10:15

Ditto Perfect Choice. Happy to hold and enjoy spending the dividends.

[perfect choice] 22/11/2024 10:01

Yep, invested and taking divi as part of my income portfolio, will try to listen to that presentation if I am available at the time. Booked anyway so can also watch recording later.

[dope007] 22/11/2024 08:39

Yes, just happy having them in my isa paying a regular dividend

[mirandaj] 22/11/2024 08:30

Any interest here still?

Schroder Real Estate Investment Trust Limited, the actively managed REIT focused on improving the sustainability performance of buildings to generate higher income, is pleased to announce that Nick Montgomery and Bradley Biggins will provide a live presentation on the Half Year Results for the six months ended 30 September 2024 via the Investor Meet Company platform on Tuesday 26 November 2024 at 1.00pm GMT.



The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9.00am the day before the meeting or at any time during the live presentation.


Investors can sign up to Investor Meet Company for free and add to meet Schroder Real Estate Investment Trust Limited via:





Investors who already follow Schroder Real Estate Investment Trust Limited on the Investor Meet Company platform will automatically be invited to this live presentation.

[chucko1] 16/10/2024 08:29

The rise to 53.6p mid and the now fall to 48.75p mid is another example of the price being more indicative of value than the underlying news, in my opinion.

The fall to a yield of 6.3% and remaining there as 10yr Gilts rose by 30-50bps was not easily justified.

[lord gnome] 16/10/2024 07:39

Post 2454 - Spot on Skyship. The chart has definitely topped out now.

[nickrl] 12/10/2024 17:55

SREI merger with CREI or PCTN would be good fit but unlikely although SREI board more likely to sell out than the others.

[skyship] 12/10/2024 15:28

Likewise - SERE one of the four I hold; the others being API, ASLI & CLI.