Schroder Real Estate Inv... Share Discussion Threads

[skinny] 16/6/2021 20:15

It looks like it - the last Schroder's holdings RNS (that I can find) dated 03 May, 2019.

[nickrl] 16/6/2021 18:58

An RNS out today that shows Schroders moving up from 11.5% to 15.2%



or is that just moving schroders holdings about

[chucko1] 16/6/2021 18:29

I think this looks perfectly reasonable. What else would you want - uncertainty and more defaults? I think this approach confers a higher likelihood that rents post March 2022 can align with pre March 2020 levels in certain distressed sectors. This has far more value for a long term investor than a quick bit of cash via a judgement.

Assuming the balance between Landlord and tenant is generally arbitrated fairly.

In any event, if you have lost 20% of your rent the past year and a half, that is effectively the equivalent about 60% of a year's earnings. It's in the past. If you recover on average half of this via negotiation/arbitration, and the market is stabilised via this regime, you are basically 3% worse off assuming you buy a REIT for 10 years of earnings. Given that you have already been hit for 6% and had the opportunity of buying cheaply the past year, I am in favour of such a plan. I have not seen anything especially worrying in the Government's statement.

[cwa1] 16/6/2021 17:11

Need a widescreen telly for that linkerty Specto ;-)

[shieldbug] 16/6/2021 16:49

UK - dodgy investing jurisdiction. The damage to current and future investment will far outstrip propping up some zombie companies - and hell if the government want to prop them up - why don' they take equity and fund their rent?

[spectoacc] 16/6/2021 16:06

"I have to say that I find it astonishing that one whole industry is being targeted by government intervention in this way and being deprived of their rights under the law. Owners and occupiers clearly need to work together in sensible partnership. I don’t see this helping, sadly."


Slightly surprised all the REITs are lower on it, hardly unexpected.

Edit - hmm, unless this is worse than I thought:

[spectoacc] 15/6/2021 11:41

AEWU news this morning boosted the whole sector I reckon.

Not sure the leisure rents will be recoverable, but the can pay/won't pay are in for a comeuppance.

[skyship] 15/6/2021 11:30

Hmm - a difficult decision as at 50p the discount still 17.2% and the yield still 5.25%.....could hold out for 52p....

[badtime] 15/6/2021 11:23

You cashing out at 50?

[skyship] 15/6/2021 11:05

Now at 48.25p in new money!

[chucko1] 15/6/2021 09:03

Considering the ex-div of .656p last Thursday, in old money, we are now at 48.25p.

[skyship] 15/6/2021 08:34

Breaking through this morning. If it holds above 47.25p at the close then the breakout will be confirmed and 50p will be the target.

[skyship] 14/6/2021 13:31

After a month of consolidation, are we girding ourselves for another attack at the 47p ceiling...


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[nickrl] 02/6/2021 19:20

Yeah surprised they didn't make more of the reduced inv mgt fee very good outcome. Fee dropped from 1.1 to 0.9%. Vacancy costs were higher last year but with voids halving by year end that should provide another prop to further improve the dividend.

Lots of feedback on properties but disappointingly silent on City Tower.

[skyship] 02/6/2021 10:48

Indded. That represents a 5% increase in EPRA Earnings....more grist to the dividend mill...

[shieldbug] 02/6/2021 10:36

What stands out for me is "Post year end reduction in the Investment Manager’s fees to generate an annualised saving of approximately £600,000 per annum with effect from 1 July 2021." Interested to see what the actual details of this prove to be. Would they give up something for nothing in return?

[frazboy] 02/6/2021 08:25

Results certainly supportive of the share price recovery. 5.7% yield to buy. Further modest increase in the dividend as the year progresses, hopefully.

[skyship] 02/6/2021 07:38

Excellent stats - NAV up to 60.4p & the dividend up to an annualised 2.624p.

Sp should move to tackle 47p again, before moving on to my 50p target...

[spectoacc] 02/6/2021 07:18

Positive enough. (Historic) results also out.


"Schroder Real Estate Investment Trust, the actively managed UK- focused REIT, announces an interim dividend of 0.656 pence per share (pps') for the period 1 January 2021 to 31 March 2021.

This equates to a further 5% increase compared with the prior quarter's dividend level and reflects continued progress with rent collection and asset management, together with the positive impact of share repurchases and two industrial acquisitions completed in December 2020.

The dividend payment will be made on 25 June 2021 to shareholders on the register at the record date of 11 June 2021. The ex-dividend date will be 10 June 2021."

[spectoacc] 26/5/2021 13:17

The front room at Schroders is bad enough.

[shieldbug] 26/5/2021 13:12

I didn't see the factsheet but I was expecting the dividend to be paid from the end of May. I wish the company would sort out its website. Still showing portfolio weightings: Office 39.4%, industrial 29.7%..

It should now be: Industrial 37%, Office 35%... and has been for months.

REITs like ITs are supposed to be real companies. SREI looks like a back room at Schroders.

[frazboy] 26/5/2021 08:13

shieldbug, it might be, that they were waiting to find out exactly how much rent they collected for YE 2020 (March 2021 YE) due to the 90% payout rule? Presumably a few late payers have come forward with cash in the last few weeks. All a bit speculate but I did note that the Dec 2020 factsheet had us ex-div for the last quarter (Jan - Mar 21) in late May.

Edit: just seen Fordtin's post - I wasn't the only one to spot the Factsheet anomaly.

[shieldbug] 25/5/2021 21:35

Surely the dividend will be declared next Wednesday on 2nd June with the results. It is very odd though why this appears so late and with no communication.

[fordtin] 25/5/2021 21:11

The December 2020 fact sheet gives an Ex div date of 27 May 2021, but isn't clear about the amount.

It might possibly, maybe, could be, the same as the March Div;

"Following continued progress with rent collection and discussions with tenants the Board increased the quarterly dividend to 0.65 pps for the period 1 October 2020 to 31 December 2020 to be paid on 12 March 2021. Please note that the Board announced a share buyback on 8 September 2020"

I can't find any more recent information, can anyone offer any clarification?

Ex Dividend Date
25 February 2021; 27 May 2021; 29 July 2021; 25 November 2021


Dividend Payment Date
12 March 2021; 11 June 2021; 13 August 2021; 10 December 2021






===========================================

15 February 2021 announcement doesn't make it clear either;

"Dividend payment

The Company announces an interim dividend of 0.625 pps for the period 1 October
2020 to 31 December 2020. This equates to a 9% increase compared with the prior
quarter's dividend level and reflects progress with rent collection, asset
management, acquisitions and share repurchases. This dividend level is
anticipated to be fully covered by recurring net income, with further net
income growth potential from asset management and further new investment. The
dividend will continue to be reviewed by the Board targeting a sustainable and
progressive dividend policy.

The dividend payment will be made on 12 March 2021 to shareholders on the
register as at 26 February 2021. The ex-dividend date will be 25 February 2021. "

The dividend of 0.625 pps will be wholly designated as an interim property
income distribution ('PID').