Schroder Real Estate Inv... Share Discussion Threads

[costax1654x] 22/5/2018 19:55

Guys have a look at Aeg as well.Last RNS was amazing.Potential multibag in 2018.Take care

[topvest] 22/5/2018 18:17

Nice results. Happy to hold and good to see the dividend is well covered.

[speedsgh] 22/5/2018 11:52

FULL YEAR RESULTS FOR THE YEAR ENDED 31 MARCH 2018 -

Financial highlights for the 12 months ended 31 March 2018

· Net Asset Value ('NAV') total return of 10.5% (31 March 2017: 7.2%).
· 6.4% increase in NAV per share for the year to 68.2 pence per share (pps).
· EPRA earnings, adjusted for abortive transaction costs, of £14.1 million (31 March 2017: £13.8 million) which reflects a dividend cover of 109%.
· Profit for the year increased 48% to £33.8 million (31 March 2017: £22.8 million).
· Low Debt with Loan to value ('LTV') of 25.3% on a long-term debt (31 March 2017: 26.0%).

Operational highlights

· Sustained outperformance of real estate portfolio with a total return of 11.8% versus the MSCI/IPD Benchmark Index of 10.7% resulting in annualised outperformance of 1.0% over the past 12 months, 2.3% over 3 years and 1.4% since IPO in July 2004.
· Portfolio supported by strong fundamentals with 93% of the portfolio located in Winning Cities.
· Positive weighting to office and industrial sectors of 64%, and no City of London or Shopping Centres.
· Reversionary income yield of 7.0%, compared with the MSCI Benchmark of 5.7%, should lead to stronger income growth over the next 12-24 months.
· Identified programme of asset management initiatives of approximately £10 million of capital expenditure initiatives over the next 12 months to generate attractive income returns.
· Over the course of the financial year sales were completed at a premium to their valuations, and the Company is seeking opportunities to reinvest.

Commenting, Lorraine Baldry, Chairman of the Board, said:

"The Winning Cities strategy executed over the past few years has increased the Company's exposure to higher growth sectors and regions where we expect more sustainable occupational demand. This reflects our long term focus on generating outperformance of the underlying real estate portfolio. In a more uncertain environment we expect the Company to benefit from the quality and diversification of the underlying portfolio, balance sheet strength and dividend coverage. Looking forward, we will continue to consider opportunities to enhance shareholder returns through disciplined growth. The delivery of the above will enable a sustainable dividend increase in the near term."

Duncan Owen, Global Head of Schroder Real Estate, added:

"The Company has consistently focused on fundamentals and its total return by growing net income. In the current environment this will be important. The underlying real estate portfolio has now outperformed its Benchmark over the long term by 1.4% per annum since its IPO in 2004. Identifying new acquisitions, reducing the cost of our debt and reviewing the potential to grow the Company if it enhances shareholder returns are key next steps."

[skinny] 07/2/2018 07:07

A fairly sizeable discount.



Schroder Real Estate Investment Trust (the ‘Company’;), the actively managed UK-focused REIT, announces its net asset value ('NAV') and dividend for the quarter to 31 December 2017.

Net Asset Value

The unaudited NAV as at 31 December 2017 was £345.5 million or 66.6 pence per share ('pps'). This reflects an increase of 1.4% per share compared with the NAV as at 30 September 2017, or a NAV total return, including the dividend of 0.62 pps, of 2.3%.

more.....

[noiseboy] 01/6/2017 23:37

Who are you with? I'm with AJ Bell

[skinny] 01/6/2017 12:01

I have 2 payments.

[noiseboy] 01/6/2017 11:56

Has anyone else only received half the dividend? It's usually in 2 parts

[novision] 04/4/2017 20:00

For release 28 March 2017

Schroder Real Estate Investment Trust Limited

DISPOSAL OF ST. AUGUSTINE'S COURTYARD IN BRISTOL

Schroder Real Estate Investment Trust (the "Company"), the actively managed
UK-focused REIT, announces that it has exchanged unconditional contracts to
sell St. Augustine's Courtyard in Bristol to the University of Bristol for GBP
11.75 million. The sale price compares with the independent valuation as at 31
December 2016 of GBP7.2 million and completion is due on 7 April 2017.

St. Augustine's Courtyard is a vacant 31,785 sq ft city centre office property
that has just undergone a major refurbishment. The plan was to let the
property.

The disposal to the University of Bristol, who are acquiring for their own
occupation, enables the Company to crystallise significant performance
following refurbishment without taking any letting risk. The disposal also
reduces the portfolio void rate, with the property representing 2% of the total
void as at 31 December 2016, calculated as a percentage of rental value.
Following completion the portfolio void rate will reduce to approximately 6%.

The Company is considering a number of initiatives which should lead to
successful redeployment of the disposal proceeds but will continue to take a
disciplined approach.

[tintin82] 28/2/2017 14:19

Really taking off, breaking out of the 60 range by the looks

[skinny] 30/1/2017 15:15

Released 07:00 30-Jan-2017.


For release 30 January 2017

Schroder Real Estate Investment Trust Limited

ANNOUNCEMENT OF NAV AND DIVIDEND FOR QUARTER TO 31 DECEMBER 2016

Schroder Real Estate Investment Trust (the ‘Company’;), the actively managed UK-focused REIT, announces its net asset value (‘NAV’) and dividend for the quarter to 31 December 2016.

Net Asset Value

The unaudited NAV as at 31 December 2016 was £320.3 million or 61.8 pence per share ('pps'). This reflects an increase of 1.1% per share compared with the NAV as at 30 September 2016, or a NAV total return, including the dividend of 0.62 pps, of 2.2%. A breakdown is set out below:

more.....

[skinny] 16/11/2016 07:10

SREIT DELIVERS SOLID PERFORMANCE FROM STRONGLY POSITIONED PORTFOLIO

Schroder Real Estate Investment Trust, the actively managed UK focussed REIT, today announces its half year results for the six month period ending 30 September 2016.

Financial highlights

· Net Asset Value ('NAV') of £316.8 million or 61.1 pps compared with £322.6 million or 62.2 pps in March 2016
· Increased capital expenditure of £5.5 million (six months to 30 September 2015: £1.1 million) that should deliver higher future returns and improve the portfolio's defensive characteristics
· Sustainable dividend cover of 106%, based on the two dividends of 0.62 pps over the period
· 10% increase in underlying EPRA earnings per share to 1.3p (six months to 30 September 2015: 1.2p)
· Strong relative outperformance of the underlying portfolio with a total return over the period of +1.8% compared with -1.1% for the MSCI Benchmark Index, placing the portfolio on the 9th percentile
· Underlying portfolio has outperformed the Benchmark Index over six months, one year, three years, ten years and since IPO in 2004
· Loan to value ('LTV'), net of all cash, remains stable at 30.0%, within the long term target range of 25% to 35%

Operational highlights

· The Company continues to deliver on its stated strategy and the successful repositioning of its portfolio is well underway with 91% now located in 'winning cities and towns' ranked in the first and second quartiles for projected UK GDP growth (Source: Oxford Economics)
· Disposal of five smaller, non-core secondary retail assets, during the period and since the period end, totalling £13.7 million, reflecting an average net initial yield of 3.9% and a 2.2% premium to valuation at start of period
· Refurbishment of vacant assets in Bristol and Cardiff near complete, leading to a portfolio rental value of £34.1 million per annum, reflecting a reversionary yield of 7.6%, compared to the Benchmark at 6.1%
· 35 letting transactions during period and since the period end, including 23 completing post-Brexit


more.....

[skinny] 19/10/2016 13:32

Schroder Real Estate Investment Trust Limited will announce half year results for the six months ended 30 September 2016 on Wednesday 16 November 2016.

[tintin82] 10/7/2016 18:56

US buyer prepares to spend £1bn on cut price UK property



'The plan by New York-based Madison International Realty is an early sign of how opportunistic investors might seek to take advantage of any downturn in the market triggered by the UK’s vote to leave the EU.'

[colonel a] 05/7/2016 11:29

SREI is a REIT, the dividend will never be significantly over covered.

Their debt is cheap, tenants solid and lease lengths respectable.
Short of full economic meltdown these are a bargain.
However given the current chaos amongst those who rule such meltdown cannot be ruled out.

Yipee !

[my retirement fund] 05/7/2016 08:27

OK so at a heady 63p alleged NAV they were claiming 30% LTV. Critically the existing dividend was only just covered.Although it seems the nav may well have to be halved there solvency should not remain an issue.However trimming the dividend by around 50% looks very possible medium term.

[my retirement fund] 05/7/2016 00:38

Well I'll be tempted back into this fund if the yeild reaches 7% that said the LTV will need to be at least under 50% can anyone confirm what LTV is at the minute?

[ferries5] 04/7/2016 18:28

Standard Life suspends trading in UK property fund

[colonel a] 22/6/2016 08:04

I have UAI too but for capital appreciation potential.
It's yield is not guaranteed and it's a developer.

I'm not quite sure what stage of any cycle we're at but think SREI is good value, now boring, but solid long term value.

[skyship] 22/6/2016 06:58

4.5% yield allied to a 12% NAV discount seems reasonably fair value; but perhaps merits a HOLD - certainly not a BUY. Actually a pretty weak HOLD at this stage of the cycle.

Infinitely prefer to play the recovery of UAI on its 7.5% yield and its 35% NAV discount.

[colonel a] 21/6/2016 15:45

Seem to be on something of a downer.
Results seem OK.
Now quite a conservative approach, with plenty of demand for income can't see why the big discount ?

[tintin82] 11/9/2015 07:12

Good news indeed, moving along nicely.