Schroder Real Estate Inv... Share Discussion Threads

[speedsgh] 29/6/2021 11:52

SREI fund mangager, Nick Montgomery, is speaking at QuotedData’s Property Webinar Series next Weds 7 July at 10.15am...

[epistrophy] 19/6/2021 14:01

Thanks, makes sense. I wondered if I was missing something!

Think ALM was caught up in the index rebalancing last week too. I was tempted but didn't pull the trigger.

[spectoacc] 19/6/2021 08:05

No, but the index rejigs tend to cause some volatility/rebalancing everywhere, & they happen on triple witching day. No index changes for any of the REITs but they get buffeted by rebalancing sometimes.

Saying that, usually happens at close (like BREI), not during the day (like SREI today), so is only a theory. Were also some curious closes but on small volume elsewhere too (eg SUPR).

[epistrophy] 18/6/2021 18:08

Not an expert but I thought witching was linked to options expiry. Do tiddlers like BREI and SREI actually have traded options?

[spectoacc] 18/6/2021 16:38

Witching today; picked a few BREI up in closing auction.

[skyship] 18/6/2021 16:31

Serious volume today & quite a few chunky buys.......& maybe chucko's chunky sale!

Helped the port to close up on a rather dire day, so thnx SREI.

[chucko1] 18/6/2021 16:09

And 48.5p now(!). I do think it's worth more, but with the bond/tech/Fed stuff going on and the key markets where they are, I shed no tears for a profit taken too soon.

[spectoacc] 18/6/2021 15:56

Can't go bust taking a profit, well done.

Was 190k at 49.8p too.

[chucko1] 18/6/2021 15:38

I sold into it no matter what it was. Act first, think later! (I don't generally recommend that, but the behaviour of bonds and Fed-speak has been worse).

[spectoacc] 18/6/2021 14:18

Let's hope it wasn't the buyback ;)

[skyship] 18/6/2021 14:09

Pretty good performance in a rather dire Market; and someone paid 49.6p for 250k.

[skyship] 17/6/2021 14:25

Specto - agreed. BREI portfolio split is:

# Off - 29.6%; Ind - 45.9%; Ret - 8%; Ret Whse - 16.5%

Looks good for further valuation increases; plus a dividend increase likely as 118.9% cover at the Interim stage. I am thinking we may see a full year dividend of 3.75p rather than the 3.4p currently assumed.

[spectoacc] 17/6/2021 11:32

@flyfisher - not that much in it, to be fair. I think the negative reaction as much down to the extension being to March - March! - when anything's possible between now and then.

@Sky - thanks, I should have just got the calculator out :) Not a bad discount for c.46% industrial.

Re SREI Schroders holding - not sure what that's about, nor why the 15.21% holding declared doesn't add up to the 13.411% holding by "Schroders & Co Ltd" (as opposed to the other funds listed).

[skyship] 17/6/2021 10:43

Epi - interesting - thnx for that; will try it next time I need to paste one...

[flyfisher] 17/6/2021 10:42

Havn't read it specto.

[epistrophy] 17/6/2021 10:32

Seems very odd to me that govt are now allowing residential evictions, but not commercial ones.

Re. long links, in many cases (e.g. Twitter) you can just delete everything from the question mark "?" onwards and the link will still work.

[skyship] 17/6/2021 10:26

BREI @ 26%

[spectoacc] 17/6/2021 10:09

BREI's discount must be similar. Just can't get excited about offices! But good luck :) Another director buy recently I see.

@flyfisher - what did you make of The Times article?

[skyship] 17/6/2021 09:58

Thnx Specto...

In order of size I'm holding SREI, BREI, EPIC, CLI & AIRE; together accounting for 28% of my portfolio.

CLI the best discount - 28% @ 248.5p.

[flyfisher] 17/6/2021 09:38

I view the proposed government regulation as a positive for the sector.

1. The recent legal case concerning tenants relying upon the landlords business protection policy has set a precedent for those who were trying to use this loophole.

2. The recent legal case concerning sports direct/mecca bingo has also set a precedent for others in the leisure sector.

3. Landlords can now go to arbitration with the can pay, wont pay tenants, where the arbitration will surely lead to a requirement to pay up.

4. The residual solvent debtors will be required to agree terms over how to catch up.

5. The insolvent debtors will have the choice of further stalling for time or closing down. How large is this group?

I added to my reit holdings yesterday and shall keep my rose tinted glasses on.

[spectoacc] 17/6/2021 08:19

Done. ADVFN seems to block Tinys.

@Flyer61 - can't go far wrong with those IMO, particularly EPIC who get by whether there's Covid restrictions or not. BCPT my largest, supported by buyback (as of course is SREI). Keen on EPIC, SLI, BREI, SIR too. Out of AIRE for portfolio concentration, but to be fair they've done well. Don't follow the US ones, more than enough on plate here :)

[skyship] 17/6/2021 07:59

Specto - could you possibly delete the link in your 1493 above as it is distorting the page. Could use tinyurl of course...usually the best option when you see an immense URL

[flyer61] 17/6/2021 07:55

Quite agree Spectoacc. We have a socialist Government in the Tories….

What REITs are you buying on weakness. I have only been buying EPIC as I believe once the overhang clears along with my thinking that the NAV will go higher the share price will rise accordingly. In the meantime the yield is very useful.

Biggest UK holding is SREI with a little in AIRE and SLI. However main holdings are WPC and STAG - US listed and all held in SIPPS.

[spectoacc] 17/6/2021 06:50

@chucko1 - what I want is legal rights, not govnt diktat. If a business isn't viable, you move it on. If you think it might be viable in future, or that you can't re-let the space, you give it a chance. It's a business decision, not a govnt one. It's about the rule of law.

Behind a paywall, but:



(Hopefully this one won't extend the page).

Been adding to REITs on weakness regardless.

[skinny] 16/6/2021 20:15

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