Schroder Real Estate Inv... Share Discussion Threads

[skyship] 20/9/2022 14:19

Pavey/shieldbug - could you possibly post the relevant statements by Nick Montgomery - thnx...

[my retirement fund] 20/9/2022 13:43

I've just been tempted for a few more at 46.69p

[shieldbug] 20/9/2022 13:01

They were buying back shares in the 47p range before he made the comments. Just added at 46.9p.

[shieldbug] 20/9/2022 12:26

Bought back nearly 1 million shares in past 6 trading days - all under 50p. Should support the dividend if nothing else.

[skinny] 20/9/2022 12:20

What ARE you trying to say!

[nickrl] 20/9/2022 12:14

I did add before results but under water. Montgomery has put himself about in several articles recently painting a gloomy picture perhaps it was tactical si he can buy the shares back cheaper!

[my retirement fund] 20/9/2022 12:08

I already am

[fred177] 20/9/2022 11:59

If RGL can continue to raise rents it would be hard to justify a big fall in NAV and then there's the discount already in place, if they do fall further i will be looking to add

[shieldbug] 20/9/2022 11:58

The Times article seemed to be based on comments by Nick Montgomery of SREI. What he appeared to say was the commercial real estate could fall by 15% by the end of next year.

[pavey ark] 20/9/2022 11:08

Investors may be spooked by the TIMES article over the weekend which suggested a potential fall of 15% in commercial property values.
This fall would suggest that "cheap" could get cheaper.....now if that bell would just ring at the bottom !!

[nickrl] 20/9/2022 10:15

@mkerr your on nearly 7% here believe it or not yet down it keeps going and got a month before we get Q3 NAV update.

[m_kerr] 19/9/2022 21:49

just need the banks' savings depts to get the memo, MRF, so they can start paying us more than 0.5% or so on our money that they're lending out at 4%.

[my retirement fund] 19/9/2022 13:09

Yes this has some of the cheapest funding attached, certainly the likes of which is unlikely to materialise again for at least a generation

[m_kerr] 19/9/2022 10:32

on a risk adjusted basis this is now cheap. along with the former standard life REIT, these discount the underlying property by 25%. in addition, this one has locked in low cost financing for 14 years or so which takes away some risk. very little in the way of structurally challenged assets. conservative LTV too, so ticks a lot of boxes.

i've been following the european one for a couple of years and schroder seem to be pretty shrewd operators in the real estate sector.

[pavey ark] 16/9/2022 15:14

Back in here today (two lots 48.1p).
Discount , yield and secure borrowing looks to make this a reasonable bet.
Will buy more if it falls further but further falls here would see us all reaching for our tin hats.

[spectoacc] 13/9/2022 10:43

Agree but not sure it's that easy - what does the Ramsey hospital cost in comparison to the NHS? Who gets the elderly & the unresolvable?

Unfortunately both Parties - and the public - have a block on "privatisation". Not that you'd trust the Tories as far as you could throw them, but it makes a block on NHS reform.

Agree re insurance system - quite like the Australian model of a healthcare allowance.

[skyship] 13/9/2022 10:33

O/T:

"...& where eg the NHS is crying out for workers"

Recall I've said this before. My daughter works in a private Ramsey hospital next door to an NHS hospital. Both hospitals use the same doctors. They estimate that the private hospital achieves the same outputs for c50% of the staff levels pertaining in the NHS hospital.

Crass over-manning, slacking and inefficiency abound in the NHS.

The creaking system has to be addressed and the whole shebang changed to the continental system of Private/Public partnership and individual insurance. A political nightmare; but something Liz Truss may be emboldened to tackle in her 2nd term...

[spectoacc] 13/9/2022 10:06

Govnt have been tickling the problem, moving from RPI to CPI, many pensions capped at 5% rises (but not public sector), upping min retirement age from 55 to 56, 57, state pension 65 to 67.

But the triple lock, and index-linked existing and future pensions, needs addressing. It's reneging on promises and not a good look, but can't see an alternative. Full NIC on pensions an alternative, and at least less regressive.

[lookagain] 13/9/2022 10:00

The answer might be to lift the minimum age for drawing an occupational pension.

[my retirement fund] 13/9/2022 09:52

Inflation won't help solve the problem of index linked pensions the majority of the folk with protected public sector pension schemes they were all ex public sector likr NHS, British Rail etc, this cohort is enormous and in the late 50s early 60s left or still leaving in their droves now, they need a pension haircut to stop them leaving. The wealth and resources is simply not there to support them. Yea back to SREI then.

[spectoacc] 13/9/2022 09:36

Don't begrudge them their pensions, but there's something wrong with policy when the c.£1trn future obligation are entirely unfunded & not included in the national debt, & where eg the NHS is crying out for workers, yet experienced hands in their 50's are leaving in droves. (Doctors' pensions even more in need of reform).

Then the conditions that caused one cohort to leave get even worse for the cohorts below.

Know a guy who joined the police at 16, retired on full pension after 30 years service at age 46. If he lives to 81 (& going strong so far, with zero stress) - that'll be 30 years working & contributing, 35 years on an index-linked pension.

Just doesn't add up. Nor does the triple lock. Something has to give, but would any politician or political party be brave enough? Not on the evidence.

No easy answers, but letting inflation gradually erode pensions may be the best. The system mostly worked when long run trend growth was 2.5-3%, but we're not even on half that now.

Apologies for OT. Go SREI.

[my retirement fund] 13/9/2022 08:41

I've been on several singles holidays this year with companies like solos, friends travel etc, they are all rammed with groups of people mostly early retired soany NHS workers but also other ex public sector workers, police even from the railways with hig fat pensions

[spectoacc] 13/9/2022 08:23

Strange isn't it - a cost of living crisis, yet I also know (anecdotally) loads in their 50's who've quit work, particularly in the NHS.

We could also get on to the £1trn+ unfunded public sector pension liability..

Not sure there's an easy answer - same in US, where unemployment is low but so is the workforce participation rate.

[ramellous] 13/9/2022 08:20

I retired from my old company after 35 yrs last year. I went for a drink with old colleagues last week as a load have retired in the last few months. All in late 50s. A lot of the lads worked there the same length of service as me and I hear they can’t keep the new lads there very long.