Schroder Real Estate Inv... Share Discussion Threads

[riverman77] 13/6/2025 18:30:41

If that's true then this certainly looks very good value.

[giltedge1] 13/6/2025 17:35:42

@nickrl & @riverman77 as far as aware most major xap ex done, new units stanley green, & Milton Keynes. The Tun refurbished, St Anne's almost finished, Swindon Industrial finished. This year though new Lidl Salisbury great location will be offloaded at big profit as institutions like these sort of assets. Manchester Tower JV so not through our books. Store St on long lease so nothing for a while. Any cap ex this year mostly covered by sales of smaller units. Market agrees seller now 54p in a down day. A bit annoying as want to add!.
Have a question for nickrl as seem knowledgeable about Reits. In report Manchester Tower has a yield of 4.2%, but ERV of 10%, how can that be?, such a large potential income.

[riverman77] 13/6/2025 13:08:06

The question is how much capital investment will be required to unlock the ERV potential (ie refurbishments)?

[nickrl] 13/6/2025 12:49:09

@giltedge they've been banging on about the ERV opportunity for years so don't bank on it being realised anytime soon. I invested because they can support the current divi and im not expecting much more than a few percent a year increase and it wouldn't take much to even neutralise that opportunity.

[giltedge1] 13/6/2025 11:01:06

ERV £40m, rent roll £28m, so £12m to capture, expect as noted £4m next 12 months. IMO Dividend increase 5 - 10 %, next financial year with more to come. Portfolio has been updated last few years with 30-40%, premium on A & B grade properties. SREI has great industrial & retail parks 63% exposure, in good locations. Office exposure mainly to universities, expect them to sell Store St, as right in heart on Bloomsbury next to Tottenham Court Road, reinvest in Indistrial. Long term hold for me, may add when receive SHED funds next month.

[skinny] 12/6/2025 10:26:36

Might be of interest :-

[panshanger1] 12/6/2025 09:43:04

Simon Thompson at I/C : This high yield reit is outperforming and worth buying Behind a paywall but very positive

[nickrl] 11/6/2025 09:20:46

On the face of it NRI down and vacancy rate above 12% still should make me cautionary but the fact they have c4m of rent frees/fixed uplifts coming through over next 12mths spins the tables. That should be able to support some dividend growth. There still spending a lot on asset improvements which I would rather see that cut back given economic uncertainty but all in all my constant top ups in the late 40's has come good.

[lord gnome] 11/6/2025 08:15:18

I've only read the headlines, but the results look as solid as you would like and expect. Safe, high yield hold, churning out regular dividends. What's not to like?

[rongetsrich] 19/5/2025 10:54:52

2p spread on these at the moment, a 4% spread is enough for me to swipe past this on this time.

[skinny] 26/4/2025 13:47:53

The link is in post 2527!

[sleepy] 26/4/2025 13:38:44

Dope007 - you can watch a recording -

[giltedge1] 25/4/2025 19:24:53

Great rally, easy money now made, aggressive seller beliw 50p must have been desperate, probably a financial advisor.

[dope007] 25/4/2025 13:14:33

Nice move up so must have been decent

[chucko1] 25/4/2025 12:21:39

Remarkable rally from 44p. Mind you, the fall was almost equally so. Pretty well all out now.

With zero stamp duty, this is a killer trading share.

[deadly] 25/4/2025 12:15:52

Must have been an upbeat presentation today!

[giltedge1] 12/4/2025 08:53:05

Looking very good value at 47p, NAV 31/03, should have increased, to 63p odd & excludes gain on debt. Hopefully approach to Shed will happen & I can increase my holding. I can swap a 6% yield, for 8% yield. Over half porfolio in multilet industrial units, balance of portfolio well positioned & have been refurbished & modernised.

[chucko1] 10/4/2025 09:52:24

They cover a what is now 8% dividend (yield) - not that most of the platforms show it as 8% because, and rather unusually, the dividend has been growing "quickly" and so they are using historics rather than current x 4. More than that, in their various presentations, they could barely have made it clearer that these dividends have ample room for further growth as and when the reversion yields become passing yields.

To derail this would require a significant dent to the UK economy. Quite possible, but I feel you are far better in this (in such an occurrence) than nearly all others.

I would argue that the risk/reward is now superior to SUPR, and that is saying a lot as I have not been shy on the latter.

[nickrl] 10/4/2025 09:38:04

im getting into doubling down again and again with these but despite the vacancy gap they have sufficient income to cover the divi once you add in that rent free so im not too perturbed about vacancy level.

[giltedge1] 10/4/2025 08:47:19

Agree with Chucko, badly treated by market especially since most major capex now completed & 8% safe yield. Reading other Reits reports property near Tottenham Court Road very valuable. Would increase holding, but only concern 10% vacancy, if they can reduce to 5%, would be great.

[chucko1] 10/4/2025 08:40:00

When DOW was previously at this level (April 3rd/4th) SREI was 49.5p. A very crude assessment, but shows the effect of a mindless seller.

Added huge, and will even add many further. This price is plain wrong. (as was the 55p jump in BARC shares this morning, but that's totally beside the point, but I could not resist saying it).