Standard Life Investment... Share Discussion Threads

[spoole5] 23/5/2022 15:16

Topped up first thing as had some spare cash, pleasantly surprised to see the rns. Plenty of firepower available for buybacks with the low LTV.

[2wild] 23/5/2022 11:41

Unexpected and pleasant surprise on buyback. Couldn't resist the temptation to add below 80.7p. With 30% upside to 31s March NAV, risk reward ratio looks compelling.

[spectoacc] 23/5/2022 10:47

Been a while I think:

"On 20 May 2022 the Company purchased 193,984 Ordinary Shares at a price of 79.96 pence per share. These shares will be held in treasury."

[speedsgh] 19/5/2022 12:23

New QuotedData research note...

Resilient income in uncertain times -

[spectoacc] 13/5/2022 15:24

John Barron in today's IC talks REITs for two pages - mentions SLI, RGL, and TRY as his 3 holdings.

[spoole5] 13/5/2022 15:00

Was thinking that myself, got some TATE money coming next week, I think it may find its way here.

[2wild] 13/5/2022 11:47

Looking very attractive at 79.4p on 25.5% discount to NAV and low LTV.

[spectoacc] 12/5/2022 15:35

1p XD today.

[killing_time] 03/5/2022 08:04

Good rise in NAV this morning, up 5.5% to 106.6p.

[nickrl] 30/4/2022 21:10

Results reasonable and divi is covered at cash level. This one need to refinance 110m within next 12mths and won't get such an attractive interest rate i wager so will take the edge off available cash for further divi increases until they fill the voids. There ERV on offices also looks a bit ambitious i would suggest.

[killing_time] 28/4/2022 08:16

Results out.

[panshanger1] 01/3/2022 08:26

Very satisfactory increase in NAV Has traded at par in the past

[nickrl] 25/2/2022 10:09

Specto can't see how it gets any worse from here for the markets unless he cuts of the gas (unlikely) or lets off a nuke (highly unlikely). Ukraine will end up with a puppet regime within weeks and the West can do nothing about it or certainly won't do anything other than ratchet up more impotent sanctions. Importantly the gas will keep flowing and the price will drop back. What I hope we also see is the West reflect on its attitude towards oil and gas and realise that we can't achieve net zero without fossil fuels being available and reasonably priced and leaving that to the Russians isn't exactly the best plan.

Anyhow SLI pushed back up along with most of the others so have missed me opportunity from yesterday although CLS is becoming ever more inviting.

[spectoacc] 25/2/2022 08:47

The sells this morning mostly mine, albeit through gritted teeth, considering where they've come down from and the c.101p NAV.

No reflection on SLI - just plenty REIT-exposed already and don't particularly want to be too invested over the weekend, for obvious reasons.

Good luck holders. At some point, SLI will trade back at par.

[spoole5] 22/2/2022 17:56

22% discount here now with more uplifts in NAV and divi to come.

[hugepants] 07/2/2022 13:56

Vacancy is 9% and LTV is only 19% versus the median target of 30%. So plenty of room for the dividend to increase going forwards.

[jonwig] 05/2/2022 09:29

An FT article today talks of land investment, and mentions SLI as well as the specialist trust FSF. I see from the thread here that there are concerns about this. If you're interested, look at the video on the FSF website.

It's maybe worth mentioning that the land acquired is 1,447ha, but the afforestation project just 956ha, which was bought at £7,800/ha. Judging from the last two purchases by FSF (around £11,300 to £17,500/ha) this might be good value, but FSF's strategy is largely commercial, whilst SLI doesn't seem interested in that angle.

Land acquisition for passive possession might have counter-cyclical attractions, but SLI's investment doesn't look big enough to matter. Personally, I'm a holder and quite a fan of FSF with its timber extraction and carbon credits plans.

[nexusltd] 03/2/2022 11:27

@SpectoAcc. We share the same opinion regarding future requirements for improved estate quality. Unable to be on-the-ground to form my own opinion, I'm watching with interest the progression of the independently assessed GRESB rating. No rating, or absent positive progress, no position.

[spectoacc] 03/2/2022 07:01

Thanks @nexusitd - my concern as much about the greenwashing angle, but agree that it may yet work out. The direction of travel in govnt policy is clear, albeit much of it bunkum (shifting our industrial emissions to China where we can't see them, setting arbitrary dates for banning gas boilers/sales of ICE vehicles etc).

What seems unarguable is that ITs with more efficient/newer property will do much better than those without, and a lot of that down to capital spend. If you're over-distributing dividends, or sweating assets, or buying "cheap", you're going to suffer against those making improvements. In that regard, SLI (& several others) seem ahead of the game.

[dr biotech] 02/2/2022 22:55

I increased my holding here partially because of their green credentials. To me it’s an aspect of increasing importance.

[nexusltd] 02/2/2022 22:26

As mentioned in SpectoAcc's post #787 there seems to be some disquiet regarding the SLI 6 September 2021 release, extracts posted here:

"The 1,447 hectares of upland rough grazing and open moorland in the Cairngorm national park has been purchased for £7.5m. The site supports 956 hectares for planting with natural broadleaf trees (about 1.5m trees in total) with approximately 115 hectares for peatland restoration, with the remainder open land to support bio diverse habitats. The site is expected to sequester approximately 195,630 tonnes of carbon up until 2060, representing 73% of the Company’s residual embedded and operational carbon."

"The Company is not investing in commercial forestry, but is acquiring a gold standard carbon offset at a fixed price. The purchase forms part of a wider strategy to achieve carbon net zero, based primarily on reducing operational carbon at the investment property assets with offsets for residual carbon that cannot be eliminated. It is anticipated that the costs of planting will be met through grant funding.

"We believe that being an early mover will give the Company an important advantage in future costs for offsetting as society moves to net zero by 2050."


So what do we believe?
What are the "operational carbon at the investment property assets ... for residual carbon that cannot be eliminated" ?
Can SLI make money from this?
Will all businesses be required to buy carbon credits to offset their emissions? Perhaps offer a service to the lessee's selling them the necessary carbon credits?

[richyggg] 02/2/2022 22:14

End of the worlder feels better by driving a very expensive EV.
Bully for you.
I'm entirely sure that you have had a massive carbon footprint over your lifetime and probably still have.
I will leave it there , as you are only trying to assuage your own excesses and feel the need to lash out at any deviation from the narrative.

[pavey ark] 02/2/2022 21:30

I agree but the hour is late and the market closed...no harm done.

I have commented on SLI in a number of posts today and I am certainly a fan.

This whole thing started by people commenting on the approach of management to their environmental responsibilities..... suggesting that management were getting ahead of themselves....I disagreed.

[cwa1] 02/2/2022 21:05

Probably time to drag the thread back on topic now? Loads of other places to discuss the issues being aired here: personally I don't think this is the right place.

This is for discussion on SLI, or things closely related to it I reckon.

Cheers