Schroder Real Estate Inv... Share Discussion Threads

[skyship] 07/6/2022 13:13

1tx - strewth - looks as though you're right. SREI has been one of my most consistent profit-earners these past 2yrs; but the lamentable history is bizarre!


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[1tx] 07/6/2022 13:06

Whilst I have had a decent performance so far with SREI thanks to buying it recently;the "groupthink" ESG talk by our overpaid management in the report reminded me how dire its performance has been over the years since launch in around 2006.Am I correct in thinking Schroders have ESG'd £1 investors money in 2006 into around 57p in 2022s devalued pence......As with many REITs it has been very profitable for investment managers but dire as long term investment for investors.

[nickrl] 07/6/2022 08:09

Indeed with NAV ahead of my expectations and thats despite having to cover increase capex and in year acquisition costs. I see they are committing to some potentially costly ESG initiatives albeit over many years so the debt will likely creep up but they have long term facilities at good IR. The industrials they bought late Dec 2020 have had a stellar NAV rise of 40%!!

I thought the deal with Starbucks was good at 145k pa for 15 years until i read rest of paragraph "Due to their economies of scale, Starbucks will construct the unit with a maximum contribution from the Company of £850,000, and will receive 12 months' rent free" lets hope coffee doesn't fall out of favour!

They have access to an increased RCF (75m) to fund capex and acquisitions although its linked to 3mth SONIA +1.65% so will likely prove more costly than the Canada Life debt but its now locked in till 2027 so gives them plenty of options.

Increased divi wouldn't be covered by reported NRI but the various asset mgt initiatives reported to improve NRI in FY23 will cover it so nice to see them reflecting that now rather than waiting.

Lets see if an increase share price sticks or it flushes out our seller

[my retirement fund] 07/6/2022 07:12

Perfect update. Yes an absolute minimum of 60p would be a sensible price in a sensible world!

[skyship] 07/6/2022 06:29

Indeed. An increase in the dividend to 0.795p and a great increase in the NAV up to 75.8p.

At 55p the discount = 27.4% & the yield up to 5.78%.

Likely to see an increase in the share price today, then further progress back up to 60p.

[spectoacc] 07/6/2022 06:21

A good read.

First ones to take divi above pre-pandemic level?

[nickrl] 06/6/2022 16:07

Umm Schroders plc drop holding back 0.5% before results guess thats allowed in the closed period as they are just managers of the fund?

[skinny] 06/6/2022 15:51

I've been here for 9 years - not really fireworks involved! :-)

See post 1569 .

[cwa1] 06/6/2022 15:19

Took a handful at 54.4 just to join the, ahem, party. Not expecting fireworks tomorrow-but a steady progression and positive outlook would be very satisfactory as far as I'm concerned. Fingers crossed

[spectoacc] 06/6/2022 13:40

None of the REIT NAVs for 31st March have set the market alight - they ought to have done, they've mostly been great. But seems to be some wariness that we're near a top, particularly post-Amazon, post-Big Box.

Even if we were at a top (we're not IMO), the current discounts would account for it. If NAVs do keep kicking on, which inflation suggests they might, s/p's will have to catch up eventually.

Would like to see some rent rises coming through too.

[nickrl] 06/6/2022 13:28

Just picked up a few at 54.5 which is far better than was getting quoted early doors

[my retirement fund] 06/6/2022 10:29

Hoping for an excellent nav update that will catch the attention of the market

[catch007] 01/6/2022 08:11

Added a few to my ISA today hoping the improvement in NAV and yield returns continues now.

[flyfisher] 31/5/2022 09:13

Aberdeen and SLI property oics merged late last year, perhaps it has it come from there.

[flyer61] 31/5/2022 07:58

As you look at the picture of Russell and Bromley, to the left, those shops have been empty for ages and are very secondary to my mind. My wife frequents this R and B shop regularly (like a metronome).

Ok buy but couldn't rate it anymore than that.

[2wild] 31/5/2022 07:49

Market doesn't seem too keen on the deal. Added at 54.06p, it was only a few weeks ago when I sold around half my holding at 60p.

[nickrl] 31/5/2022 07:48

Looks like it was originally purchased by Standard Life in 2003/4 for 18.7m and the st anns office website has it down as owned by ASLI. Like RGL they are hopeful of a big reversionary on the asset I'll sit on the fence with that but the yield is decent enough not to need that so a bonus if it comes through. Would note though they say the rent of the vacant retail unit is 2/3rds pre pandemic that won't be lost on other tenants.

[panshanger1] 31/5/2022 07:24

Nice corner unit sitting on corner of St Ann's Square, Russell & Bromley have been the major retail anchor for at least 40 years

[spectoacc] 31/5/2022 07:03

Thanks both.

[speedsgh] 31/5/2022 06:58

St Ann's House, Manchester -

[2wild] 31/5/2022 06:55

I know this area well, it's in the more upmarket shopping-office area part of a large pedestrianised square and busy adjoining areas. 2 minutes walk from the flagship Marks & Spencer's. 5 tram stops, Victoria & Oxford Road train stations are all within 15 minutes walk. Appears like a good deal to myself.

[spectoacc] 31/5/2022 06:26

Anyone know the asset? Never sure about offices, let alone retail, but the yield & occupancy are both good.

Not sure about "..Relatively higher growth in office rents..".

[cwa1] 26/5/2022 07:11

Schroder Real Estate Investment Trust Limited is pleased to announce that Nick Montgomery and Bradley Biggins will provide a live presentation relating to Full Year Results for year ended 31 March 2022 via the Investor Meet Company platform on Tuesday, 14 June 2022 at 12:00 p.m. BST.

The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9.00 a.m. the day before the meeting or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet Schroder Real Estate Investment Trust Limited via: