Schroder Real Estate Inv... Share Discussion Threads

[skyship] 10/9/2020 08:20

Sorry - O/T

CJ - re my 889 above re INL. Took a look at the Simon Thompson update - not one of his enthusiastic re-tips, more just a reminder; and of course didn't include the later news of Sadiq Khan's approval for the Hillingdon project. Heven't yet heard from INL on that either.

[essentialinvestor] 09/9/2020 23:08

Testing if the buy button was working ).


So £95 Million of disposals in 2019, many of those above NAV
and now buying back shares at lets say a 30% NAV discount (being cautious and allowing for further price falls) with money borrowed @ 2.3%,
saving a dividend pay out per share of approx 5%.

That's tidy work.

[speedsgh] 09/9/2020 21:58

Dry run? Testing procedures prior to commencement of full scale buybacks? Pure incompetence? * Delete as appropriate

[skyship] 09/9/2020 21:27

Correct - 425,509 shares @ a weighted average price of 30.7695p

So what the hell was yesterday all about?

[essentialinvestor] 09/9/2020 18:43

That’s more like it.

[spectoacc] 09/9/2020 16:24

Could only get quotes above offer here. Hopefully the buyback at least underpins it.

[essentialinvestor] 09/9/2020 15:54

Was hoping this would push on to at least 33/34 type area.

Tried a couple of dummy trades and their is stock available on the offer.

Purchasing 100,000 shares on the daily should be a cinch.

[skyship] 09/9/2020 13:16

Hmm - well they've given the job to JP Morgan - total incompetents nowadays, so they rather missed the fact that a declaration of 2957 shares @ 30.7p might make them look rather stupid. This on a day when shares traded = 1.3m!

[skinny] 09/9/2020 12:35

Yes - where are the 3 trailing zeros.

[cwa1] 09/9/2020 12:31

Well, they certainly started that buyback with a bang :-)

[essentialinvestor] 08/9/2020 16:37

My post from two weeks ago...it wont happen But... (on why a buy back would be value enhancing).


Very happy to be wrong on that. And on the BOD being happy to sit there taking no action.

[flyer61] 08/9/2020 16:31

Mildly surprised the share price hasn't reacted more favourably. Good to see a shareholder friendly board for once.

I have just realised there is a voting system on these boards. Had to laugh someone has voted them all down......what a loser!

[essentialinvestor] 08/9/2020 16:03

Common sense has prevailed, eh.

NAV accretive plus the dividend saving on a reduced share count.

May also indicate they are not seeing compelling value in the market currently.

[skyship] 08/9/2020 14:25

CJ - many, many thanks - missed that somehow - will go and take a look.....

[cousin jack] 08/9/2020 13:37

Sky: He revisited INL on 1st September mentioning several recent developments including the Cavalry Barracks, so perhaps a bit soon for another update ?

[skyship] 08/9/2020 10:22

Hi Flyer - over there you mentioned Simon Thompson. One I do expect him to revisit is INL - one of his Bargain shares in the 2019 portfolio. I wrote a short piece on those on my JDT thread yesterday.

[flyer61] 08/9/2020 09:47

All agreed SKYSHIP! and thanks for your NAV estimates on these at the other place.

Topped up this morning at just over 31p.

Now for EPIC....

[skyship] 08/9/2020 09:46

"The Company announces that it has authority to repurchase a maximum of
77,725,160 of its ordinary shares (being its outstanding shareholder
authority)."

Investec hold 71.1m....

Game on?

[skyship] 08/9/2020 09:27

A chunky cross with Investec would certainly be useful and profitable. The point is that buybacks anywhere around this price are a very good use of shareholder funds - removes the tap whilst increasing the NAV. Certainly buying in their own shares ranks as a better proposition than more property purchases - at the moment at least.

IMO these should now quite quickly recover to the 35p level.

[flyer61] 08/9/2020 08:35

Wonder if this is to help Invesco out...?

[flyer61] 08/9/2020 08:22

Events dear boy events...don'y know who said it but it seems the posts this morning before 0700 have been overtaken by events.

Small window this morning to load up??

[skyship] 08/9/2020 08:06

I do! Will send you my email through the usual channels - I recall I owe you a response...

[spectoacc] 08/9/2020 08:05

Not taking the credit, doubt Duncan ever read my email ;)

Doesn't say how much of the cash they'll spend, nor whether they'll buy to the limit, but did enjoy the comment on not paying more than NAV!

Where's the Board/manager buys?

[skyship] 08/9/2020 07:48

Specto - haven't you seen this morning's great buyback RNS?