Schroder Real Estate Inv... Share Discussion Threads

[brwo349] 15/2/2021 11:01

6.5% yield

[brwo349] 15/2/2021 10:57

super yield now

[spectoacc] 15/2/2021 09:44

5% seems to be the generally accepted acqn cost - stamp duty alone is 5% on everything over £250k. The lower amount below 250k gets eaten up in legals etc.

Agree re retail/"other", also how much missing rent is eventually recovered. But frankly, on this NAV discount and with a no longer falling NAV, seems to be loads of leeway.

Impressed with the buybacks so far - they've not overpaid.

And no debt or LTV issues.

[nickrl] 15/2/2021 09:37

Comprehensive update shame a few others don't do these. Am curious to know whether the acquisition costs of 6.3% is the going rate?

Divi uplift sustainable but how much further it goes depends on where the retail/other element of the portfolio ends up.

[frazboy] 15/2/2021 08:27

Divi up, BB continuing, NAV up (largely due to the BB). Only significant concern to my mind, is the Office % (realise that this is unlikely to change significantly anytime soon) - would prefer this to be lower. Relatively happy.

[spectoacc] 15/2/2021 07:06

Happy with this:

"The Company's rent collection remains strong, which has underpinned a 9% increase in the quarterly dividend. In addition, following two signficant acquisitions in December, the portfolio weighting towards the industrial sector has increased from 30% to 37% over the quarter.

Net Asset Value

The unaudited NAV as at 31 December 2020 was £293.3 million or 58.8 pence per share ('pps'). This reflects an increase of 1.4% per share compared with the NAV as at 30 September 2020. Based on the quarterly dividend paid of 0.575 pps, the NAV total return was 2.4% for the period, with a like for like portfolio valuation increase offset by capital expenditure and one off acquisition costs"

[skyship] 11/2/2021 16:18

Just a reminder - NAV statement next week:

"The Company will provide a further update when it announces its dividend and unaudited net asset value as at 31 December 2020 during the week commencing 15 February 2021."

[skyship] 05/2/2021 13:47

Sphere - Boring old SREI is my portfolio banker; happily bought into quite a bit lower down; and traded unmercifully, almost daily, back in December.

Agree with you wholeheartedly, that if we can sustain the 40p level, then would expect consolidation in a new 40p-45p range.

[sphere25] 05/2/2021 13:32

A few small batches of buying here today.

We're in Flatline City, which makes the chart more interesting. I have lost count of how many times SREI is going to have a bull-bear ding dong at 40p. If we can take control of that 40p square and then have the bid build to take out 41p on the offer, could be a pop here at some point.

These boring value ones don't seem to attract much attention, but seen as the US has passed it's critical recent key support level test and gone on to now make new highs, you'd expect that magnitude of bullishness to feed through into more buying in the UK shares and more new highs.....

...even boring old SREI :-)


All imo
DYOR

[nickrl] 29/1/2021 10:02

Good action on industrials unit leases along with read across from others this week will help reinforce the industrials part of the portfolio but offset by retail so im forecasting little change.

[skyship] 29/1/2021 08:16

Rent collection & update reads well enough; but this is what we need to wait for:

"The Company will provide a further update when it announces its dividend and
unaudited net asset value as at 31 December 2020 during the week commencing 15
February 2021."

[skyship] 27/1/2021 21:01

27/01 - 155k bought in @ 39.82p (39.60p - 39.XXp)

[spin doctor] 27/1/2021 18:18

Two buyback announcements in one day ;.)

Big volume today. share price firm. Are those two big late reported trades buys?

[skyship] 27/1/2021 12:58

26/01 - 25k bought in @ 39.65p
&....- 209k bought in @ 39.74p (39.55p - 39.90p)

[hugepants] 27/1/2021 10:55

yep both AEWU and BREI have announced chunky valuation increases in their industrial assets this week

[frazboy] 27/1/2021 10:39

Are we expecting a read across from the BREI results on the NAV here? IIRC BREI are about 40% industrial space (the best performing sector), SREI are about 30%, so I would be disappointed to see a NAV fall at YE past.

[chucko1] 26/1/2021 15:02

SKY - totally agree. Still worth buying up to a few pence higher. 31% discount too much for this asset mix, plus the fact that LTV is fair and long term rates look like staying lower for longer.

[skyship] 26/1/2021 14:31

25/01 - 209k bought in @ 39.51p (39.15p - 39.55p)

[skyship] 26/1/2021 14:28

Still a 31% discount at 40p. I would like to see them bidding up to 45p; and still at a 22.4% discount.

[spectoacc] 26/1/2021 14:22

If AEWU are correct, are going to be some good purchases coming up soon.

[spin doctor] 26/1/2021 14:17

Not a bad looking chart. Firm despite minimal buyback activity. Positive reporting from not dissimilar REITs. Results around the corner.

I think the time for buyback at scale is now past: discount is lower, there are surely some positive purchases to be made, and diminishing company NAV further is not attractive.

[chucko1] 19/1/2021 16:04

Appreciating the long term value and importance of dividends should offset your pain!

[sphere25] 19/1/2021 15:27

Mid November it tried!!!! (Is that enough exclamation marks?) :-)

Patience can be hard and that period of time can feel like an eternity in a market where we have almost got accustomed to explosive moves. In fact, perhaps so much so that we could have created a new Rocket Ship technical indicator.

It almost feels like a disaster when something doesn't push on higher. I guess it's a sign of being spoilt too and reigning it in. Harder times will inevitably follow and the easy pickings have gone.

So come on SREI, stop farting about and push on. 40p and then 42p breach for a blue sky breakout and a possible gradual gap close to previous highs.

It looks a slow move judging by the exchanges atm.

All imo

DYOR

[flyer61] 19/1/2021 13:04

You didn't have to wait long!!!

[sphere25] 19/1/2021 12:38

Taken a while but re-testing that key 40p mark for the second time now. On the previous occasion there was a buyer in size who had an iceberg bidding on the book at 40p. The order soaked up alot of sells through the day but eventually got cleared by the sellers, which then resulted in some negative technical selling pressure (as well as the MSCI dump).

Take two for the bull bear ding dong.

Can it get through this time?

All imo
DYOR