Schroder Real Estate Inv... Share Discussion Threads

[spectoacc] 24/12/2020 11:24

Interesting - presume Blackrock will emerge again as the seller, but between Investec and buyback, they won't be around long.

Brexit deal should give a boost too.

[flagon] 24/12/2020 11:15

Investec have added again ... circa 2.5M shares.

[flyer61] 24/12/2020 10:34

Starting to think the amount avail for buying in is dropping.

Merry Xmas to all.

[skyship] 24/12/2020 10:17

23/12 - 149k bought in @ 37.52p (37.20p - 37.75p)

[skyship] 22/12/2020 17:41

22/12 - 461k bought in @ 37.20p (36.60p - 37.55p)

461k - That's more like it

SpinDr - Yup, 6th time today, though only with 20k.

[spin doctor] 22/12/2020 16:04

SKY, now 6X? :.)

[skyship] 22/12/2020 09:03

Chucko - totally agree. Have now done so 5x with SREI recently. Buy on the morning markdown; and sell on a limit so as not to miss the sale when I'm doing other things.

[hugepants] 22/12/2020 00:05

You don't understand the point.

Never mind.

[nickrl] 21/12/2020 22:17

The brokers job is to do just that though but as i don't have L2 not sure how much missed opportunity there was earlier in the session.

[hugepants] 21/12/2020 21:25

but they probably don't spend all day glued to a computer screen hoping to make a 1%-2% turn

[skyship] 21/12/2020 20:40

21/12 - 95k bought in @ 36.38p (35.60p - 37.20p)

Considering there were 1.9m traded today, looks as thought they weren't very serious about it. My own SREI t/o today exceeded that figure! They should have been hoovering up all spare stock for 3 hrs from 10:15...

[flyer61] 21/12/2020 15:08

Yes this will be a trade for me 30 odd thousand at 35.73. They are in an ISA and am happy to hold longer term if need be.

[chucko1] 21/12/2020 13:13

I added also. Taken a leaf out of Fly's book and started trading them. Ludicrously easy so far. Panic all over the place this morning in all sorts of things.

[spin doctor] 21/12/2020 13:10

Flyer, clearly lots of opportunities at sub 36 or so this morning.
Fundamentally, you either believe in the intrinsic value - and potential value - of the portfolio, and the skills of management, or not. The discount is large; despite the buybacks continual selling at scale is weighing on the share price But the portfolio has demonstrated decent resilience so far, and although 2021 will be tough and there will IMHO almost certainly be some asset price reductions, the dividend at this level looks secure and may be increased moderately.
I am overweight in these, have added further today, and am relaxed about the position.

[skyship] 19/12/2020 07:35

Spin - thnx for that. Personally I'll just leave my spreadsheet figure at 58p until the next official Qtly declaration. 17th Feb last year - so two months to wait.

[spin doctor] 18/12/2020 22:47

NAV estimate
58p at 30/09/2020
PLUS 0.7p buybacks since year end, as noted in results announcement on 17th November (SKYSHIP, I think you missed this)
PLUS >0.1p buybacks this month
LESS dividend paid 0.575p
PLUS asset income > dividend paid
And of course valuation adjustments.

Buyback commentary from results is pasted below.
"NAV accretive share buy-back programme launched in September 2020. During the period 7.1 million shares were acquired for £2.3 million which reflected an average price of 31.6 pps and an average discount to the June 2020 NAV of -45%. This resulted in NAV accretion of 0.7%. Since the period end a further 8.1 million additional shares have been acquired for £2.6 million which reflected an average price of 32.8 pps and an average discount to the September NAV of -43%. This resulted in additional NAV accretion, based on the September NAV, of 0.7% and is also earnings accretive, increasing dividend cover. "

[nickrl] 18/12/2020 21:21

Todays purchase vendor was a private property company Realty Estates based in Altringham according to a local business website.

Was being marketed by Avison Young but cant see details on there site.

The two purchases this week have added c 12% to rent roll and should allow in dividend enhancement in due course.

[skyship] 18/12/2020 18:51

18/12 - 479k bought in @ 37.29p (36.75p - 37.70p)

[skyship] 18/12/2020 16:50

Also sold the trading stock bought in the 36s.....for the 4th time!

[essentialinvestor] 18/12/2020 16:30

As mentioned the office sale looks a positive, as do the latest transactions,

nicely increasing the % exposure to industrial.

I've traded out some today bought yesterday morning, have kept a few.

IF we finally get a deal confirmation, the sector should get some

support next week.

In the unlikely event of a No deal would add on

any price weakness.

[skyship] 18/12/2020 15:00

deanowls - NAV 58.1p inc. buyback gains & before any changes resulting from the two acquisitions.

[spectoacc] 18/12/2020 13:55

I think @Skyship is keeping track - will also need to knock some off for purchase costs, generally c.5% for stamp duty etc.

Very comfortable with SREI here, they're busy but not daft.