Schroder Real Estate Inv... Share Discussion Threads

[essentialinvestor] 21/8/2020 12:26

Frasers (Sports Direct) are a top 10 tenant for the Trust.

They had results out this week which looked more than OK,

are Frasers now paying rent?.

[spectoacc] 21/8/2020 09:40

Would be highly NAV-accretive to buy out at least some of the Invesco stake - seen no "bargains" yet in actual comm prop, so would be a good use of the cash IMO.

[skyship] 21/8/2020 07:46

Extracts from the June Prelims make very good reading:
=====================================================

Lorraine Baldry, Chairman of the Board, commented:

"Whilst the outlook for the UK real estate market in light of the Covid-19
pandemic is uncertain, the Company has a strong balance sheet with a net Loan
to Value of 23.7%. We expect capital values and rental income to fall in 2020.
However, the quality of the portfolio, embedded asset management potential and
above average income return will mitigate this risk. Most importantly, the cash
realised from disposals means that the Company has both a significant buffer to
protect it in the event a portion of rental income is deferred for several
months, as well as the capacity to reinvest in the existing portfolio to
improve returns and actively seek to selectively capitalise on future
attractive lower prices in real estate investments.

The long-term strategic objectives therefore remain to maintain balance sheet
discipline, sustainably grow net income and reinstate the dividend with a
progressive policy. We are anticipating a challenging market environment during
the current financial year due to the Covid-19 pandemic, but one that should
also provide opportunities for well placed companies such as Schroder Real
Estate Investment Trust."

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

"The Covid-19 pandemic is the first time in living history that the world has
faced a Global Health Crisis and so we do not know what will be the outcome.
What we can see, however, is that the pandemic has led to horrendous economic
data and as a consequence valuation uncertainty across the sector. It is also
leading to rent deferrals and reductions in some instances. This has required
an immediate focus on rent collection, reducing risk and implementing new
property management procedures to ensure tenants can return safely to our
buildings.

[essentialinvestor] 19/8/2020 12:46

Well just fwiw the sector looks well worth monitoring at the very least.

Most here will have seen multiple cycles and often the best prices occur

when fundamentals look bloody awful - on the priviso that the business in question

Is fundamentally sound.


In any case, good fortune whatever your view.

[cc2014] 19/8/2020 11:48

I wonder who is voting down every post?

[essentialinvestor] 19/8/2020 11:11

Appreciate the views folks, many thanks.

[skinny] 19/8/2020 11:08

Sage words CC.

[nickrl] 19/8/2020 10:28

On the face of it with a low LTV and a resumption of a divi you'd would have thought it would have put a floor under them. I appreciate the retail portfolio is negative pull but that ought to be in the price now so im surmising its Invesco constantly selling down its portfolio to deal with redemptions perhaps.

[skyship] 19/8/2020 08:41

SREI once again beginning to look anomalously cheap. Chart suggests a triple bottom at 30p beckoning, with the share price below the 50day SMA, the MACD weakening and the RSI in negative territory. However, took a few yesterday on VALUE grounds and will add on a further fall.


free stock charts from uk.advfn.com

[essentialinvestor] 18/8/2020 16:30

If anyone has any different/other views would be interested to hear.

[essentialinvestor] 17/8/2020 17:22

IF Investec want out completely and that's a big IF
It may throw up some interesting prices here.

[essentialinvestor] 14/8/2020 20:10

Hi Nick, you read my mind. New lead Manager at Investec,
they could potentially want rid of the lot?.

[nickrl] 14/8/2020 19:49

Investec down to 13.71% and guess they will be an overhang for some time yet

[1tcm1] 21/7/2020 11:44

Hm. SpectoAcc still thrashing around making meaningless posts saying what he's burbled on about before but reported more effectively by other better posters before him!

This last one is a perfect case in point. Stupid, vapid, and reiterative.

PS Ah yes, and unsubstantiated.

[spectoacc] 21/7/2020 10:44

That he did.

Seems he's working to year end, and an advisor thereafter (ie from Jan 2021).

Time for a full review from the Board at year end? Or business as usual?

Setting up on his own I bet.

[essentialinvestor] 21/7/2020 09:58

An adviser until the year end. Sounds like a notice period to me, but who knows.

Anyway he did SREI proud with last year's sales.

[spectoacc] 21/7/2020 09:46

@EI - possibly, but why not announced yesterday along with everything else? Is the timing that's odd, more than anything, & still going to be "an advisor".

...At least we won't need to worry about him selling shares now he's no longer manager :)

[chuckol] 21/7/2020 09:37

Is it in any way a surprise that Duncan Owen did not reply to SpectoAcc? Would any of you answer an aggressive, ignorant prat like adae/spectoacc?

I would watch out if I were you, Mr Owen, or he will come to your office and cough all over you.

Perhaps, since you now know his real name and telephone number you should publish them here on ADVFN, where he flounces around impotently on dozens of threads!

[essentialinvestor] 21/7/2020 09:34

Might have been poached by someone?.

Selling £95 million of assets with impeccable timing won't have gone unnoticed in the industry.

New commercial property cycle circa 2021.

[spectoacc] 21/7/2020 07:40

Bizarre RNS for the day after results, tho may not mean much.

He never did return my call. :)

As an aside - CAPC reported a 17% NAV decline this morning, which seems more realistic than many.

[skinny] 21/7/2020 07:08

.

The board of Schroder Real Estate Investment Trust ("SREIT"), the actively
managed UK-focused REIT, has been notified that Duncan Owen, SREIT's Fund
Manager since IPO in 2004, has decided to step down from his role as Global
Head of Real Estate at Schroders REIM ("SREIM"). Duncan Owen will remain at
SREIM as Global Head of Real Estate until 31st December 2020.

From 1st January 2021 Duncan will become a special advisor to SREIM with a
focus on SREIT. This will mean he will continue to work closely with the board
and the existing team including Nick Montgomery, assisting Schroders in
fulfilling its role as the appointed investment manager. SREIT's investment
strategy and objectives remain unchanged. The board of Schroder Real Estate
Investment Trust will continue to monitor the position closely.

[essentialinvestor] 20/7/2020 12:53

Yes the improvement to that Edinburgh property, coupled with the rent free period
is about three quarters of a million £.

If you look at the top 10 tenant list, you can see where the problem may lay in retail,
can pay, won't pay?.

Not sure under 30 pence will be available again, but dont have a crystal ball.

Low LTV coupled with their sizeable cash facility leave SREI in a nice position re many
in the sector.

If they buy well, it could be a very interesting sector play through the next cycle.
Opportunity to pivot further away from retail as a % of overall assets held.