Schroder Real Estate Inv... Share Discussion Threads

[skyship] 28/11/2020 07:30

Ahh - thnx, had forgotten the XD aspect.

[2wild] 27/11/2020 18:50

Fall exacerbated by going ex dividend yesterday. Picked some up on Monday at 36.15p, 35.575 in today's money. Compare with SLA down 8% in last 2 days.

[chucko1] 27/11/2020 18:11

35.15 for me. Also bought RGL, NRR (which I only sold yesterday at 82.3), GABI, GCP. They all got thumped by the lunatic brigade, so the idea that it is Brexit or Arcadia is far from proven. REITs in the US got hit as well, though not as hard. Rotation back into tech?

[frazboy] 27/11/2020 17:40

Bought another few just prior to the close too. If I have a concern here, it's that the office sector is about to go through what the retail sector has been, and still is, enduring! I think that's true but the scale of the downturn (combination of recession and new post Covid working practices - some offices will close) will be smaller and when you're borrowing money at 2% for 12 years...

[flyer61] 27/11/2020 17:20

Bought at 35.2 near the close. Happy to wait this out.

[skyship] 27/11/2020 17:05

panshanger - yes, the Arcadia announcement the reason - fashion retail store valuations will be hit hard.

[cc2014] 27/11/2020 16:53

Market deffo spooked by Arcadia but it's not just that. Volume and prices paid in some of the closing auctions is indicative of someone desperate to balance portfolio before weekend (Brexit??) or perhaps some tracker fund that uses closing auction to reposition or I'm open to some other theory.

[panshanger1] 27/11/2020 16:44

Market spooked by the Arcadia announcement- they have an awful lot of stores !

[essentialinvestor] 27/11/2020 16:37

Look at MKCS over the last few days, nasty.

And CLS, hold a few of those.

[skyship] 27/11/2020 16:36

Indeed, noted that, but SREI fall more than all the others.

[essentialinvestor] 27/11/2020 16:34

SKY, largely sector wide.

[skyship] 27/11/2020 16:33

Don't understand the performance here today; though did take advantage to increase an already overweight position!

Buys more than double the number of sales, yet the share price successfully marched down 4.65% from 36.50p to 34.80p; so once again on a full 40% discount.

[skyship] 27/11/2020 15:19

Amazing to see these back to 35p for almost a 40% discount again.

C'mon boys - resume the buybacks - good NAV accretion down here; and once again the discount higher than all peers.

[skyship] 25/11/2020 08:35

OK - thnx for that. All very quiet here this morning after yesterday's high volume; which, it would seem, was not buy-back assisted.

[spin doctor] 25/11/2020 08:11

Nothing showing that is at all remarkable. Just noise.

[skyship] 25/11/2020 08:07

Strange opening price today: 37.10-37.65p, this after closing at 38.10p bid yesterday.

Is there a big seller on the book? I don't have L2...

[skyship] 24/11/2020 14:22

CWA3 - seems to be back in order :)

[nickrl] 24/11/2020 14:01

Frazboy exactly although much depends on how this all unwinds on the property market. My sense is in the short term govt will keep stoking the fires with infrastructure spending and more tomorrow and BoE will oblige with more QE This will filter down into assets and there could actually be scramble for yielding assets by entities needing to maintain income streams. Others suggest there will be a shakeout next year so wait for the bargains im not so sure unless there is liquidity crunch this situation will arise.

[frazboy] 24/11/2020 13:36

At the current price it's probably still worth buying back some equity? Buying back another tranche of 15m @ 38p would add just over 1% to NAV.

One thing that caught my eye reading through the presentation was the marginal cost of that RBS RCF. I think (IIRC) it was about 1.7%, with an undrawn rate of around 0.7%. So, if I'm understanding that correctly, the actual marginal cost of the loan if they commit funds is 1% - any acquired assets don't have to have a great return to be earnings/dividend enhancing - just decent quality!

[cwa1] 24/11/2020 13:32

Think the "3" key may have stopped working on your keyboard SKY!

[skyship] 24/11/2020 13:29

Today we've had a 500k trade @ 38.10p & a 250k trade @ 38.05p; so perhaps the game afoot again.

[nickrl] 24/11/2020 12:29

It was worth buying at 30p when the outturn looked uncertain but with vaccine now creating a risk on market the shares will naturally recover and the cash can be better spent acquiring assets to improve NRI.

[skyship] 24/11/2020 11:23

Surprised that still no buyback RNS. The share price was down to 36p yesterday; but perhaps no real volume for them to scoop up down there; however they could surely have taken quite a few in the 36.25p-37.10 range.

[thewheeliedealer] 23/11/2020 21:26

Hi all,

My mate Peter @Conkers3 and myself did a ‘Twin Petes Investing’ Podcast a few days ago and part of our discussion includes SREI and our thoughts on the Commercial Property sector which is starting to look pretty interesting. We also chatted about loads of other Stocks and Ideas for research and did a particular bit about Luck vs Skill. We also discussed the outlook for Markets and as usual a fair bit of educational stuff with regards to Investing.

Anyway, if you use Apple, Audioboom, Overcast or Spotify you can find it under the 'Conkers Corner' Channel (you want Podcast TPI 36) and you can find it on Soundcloud at the link below. It is also now on Youtube.

I hope you enjoy it and find it useful,

Cheers, WD
@wheeliedealer

[chucko1] 23/11/2020 16:47

0.85p is, in fact, 2.35%, brwo349. There are different number - and thinking - systems.

That would be 7.5 years of yield income were you to own 10yr UK Gilts.

Anything else concerning you?