Schroder Real Estate Inv... Share Discussion Threads

[skinny] 27/7/2023 09:00

A quick message to our sad down marker :-

[arlington chetwynd talbott] 27/7/2023 08:53

Thank you for that insight - much appreciated.

[shieldbug] 27/7/2023 08:52

ACT - This trust is in good shape in large because of the company's brave decision some years ago to refinance which cost £26.1m. We are now reaping the rewards of that brave decision.

From the 2019 AR - "on 15 October 2019 the Company refinanced its £129.6 million term loan with Canada Life and extended its maturity with 50% of the loan maturing in 13 years and 50% of the loan maturing in 20 years. The transaction reduces the interest cost on the loan from 4.4% to approximately 2.5%, resulting in interest savings of approximately £2.5 million per annum. The interest savings will be used to increase the dividend by approximately 19%, starting at the period 1 October 2019. The refinancing incurred a negotiated break cost, and related fees, of approximately £26.1 million."

[arlington chetwynd talbott] 27/7/2023 07:51

I am basically a goldbug and have not invested in property for many years, but the NAV and yield here are certainly tempting. Surely there is a catch?

[giltedge1] 04/7/2023 07:55

Hello Skyship yes cheap but need BOE to announce peak interest rates,before meaningful gain, may be December, a few countries have already announced.

[skyship] 03/7/2023 16:46

Has to be a good trade surely. With the best B/S in the sector and arguably one of the best managers in Nick Montgomery; the 34% discount coupled with a great 8.24% yield, makes SREI standout value at this level.

[my retirement fund] 03/7/2023 15:37

Added a few at 40.6p

[mirandaj] 03/7/2023 12:24

giltedge1,

I don't know about any other vacancies and have not had time to look. I am sure there are vacancies anyway from time to time as normal and there are improvements going on with some properties.

[giltedge1] 03/7/2023 11:35

Hello Mirandaj, Looks Great & A Grade, sure will let. Any idea other vacancies? 7% last report, I know Manchester Tower has vacant space, any others Mgt quiet on this.

[mirandaj] 03/7/2023 09:37

Stanley Green again! But see the latest images (26 of them) and you will see what I meant about finish. Hoping that these will be let shortly.

[skyship] 28/6/2023 15:46

Added a few today at 41.44 - just rounding up an odd-numbered holding after an earlier DMA trade.

[badtime] 22/6/2023 15:19

Bit lower and I'll consider adding

[gonsan] 12/6/2023 18:01

on citywire:
hxxps://citywire.com/investment-trust-insider/news/schroder-reit-delivers-14-dividend-rise-as-higher-yields-dent-assets/a2419183?re=109970&refea=1811699

[skyship] 12/6/2023 07:29

spoole5 - good choices. Why? Because they are my two largest holdings. :)

[spoole5] 11/6/2023 17:25

Thanks for that, looking at either this or API.

[petewy] 10/6/2023 12:39

Ref for Simon t's tip in the IC

[skyship] 09/6/2023 11:59

chucko "...a very well run fund..."

Exactly - Nick Montgomery a seriously impressive manager. Very likely it was he who decided to fix the debt when they did. Not Schroder or surely SERE would have done likewise.

In the presentation they rightly made great play of the ERV which promises rising revenues and dividends.

I also like the portfolio sector split:

# 46.8% Industrial, 90% of which deliberately chosen as multi-let.
# 27.4% Office – but delve into that (26mins into the IM presentation). 10.7% is London universities; 8.3% in the Big6 cities & a further 8.4% in well-located areas such as Cheltenham & Fareham
# 11.8% in Retail Warehouse – universally viewed as a positive
# 7.7% Retail are convenience stores in densely populated areas

[chucko1] 09/6/2023 09:42

Not that I am surprised by anything, but SREI has failed to budge at all since yesterday's figures, outlook and strategy.

They may not shoot the lights out, but this is looking like a very well run fund from a number of angles.

[petewy] 09/6/2023 09:01

I had same problem. I rang them and told them I had read documents and they bought and normal price. It's their problem.

[orinocor] 09/6/2023 08:40

I'd really like to buy this but ii are displaying this message whenever I try. Idiots.

"The regulatory documents required for this order to be placed online are currently unavailable. Please call us on 0345 607 6001."

[skyship] 09/6/2023 08:21

A return to the 50p level highly likely. A 10% capital gain to add to the 7.5% running yield.


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