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Share Name Share Symbol Market Type Share ISIN Share Description
Standard Life Investments Property Income Trust Ld LSE:SLI London Ordinary Share GB0033875286 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.10 -1.75% 61.90 2,863,591 16:24:30
Bid Price Offer Price High Price Low Price Open Price
61.60 61.90 62.70 61.80 62.60
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 29.88 16.14 3.98 15.6 252
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:23 UT 142,150 61.90 GBX

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Date Time Title Posts
03/3/202111:53Standard Life Property Trust569
25/10/200412:54Commercial Property Fund-1

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DateSubject
07/3/2021
08:20
Standard Life Investment... Daily Update: Standard Life Investments Property Income Trust Ld is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker SLI. The last closing price for Standard Life Investment... was 63p.
Standard Life Investments Property Income Trust Ld has a 4 week average price of 59.80p and a 12 week average price of 54.90p.
The 1 year high share price is 89p while the 1 year low share price is currently 45.05p.
There are currently 406,865,419 shares in issue and the average daily traded volume is 1,221,539 shares. The market capitalisation of Standard Life Investments Property Income Trust Ld is £251,849,694.36.
03/3/2021
10:48
speedsgh: Interesting presentation by SLIPIT fund manager, Jason Baggaley, this morning as part of a 3-day Kepler Trust Intelligence event. HTTPS://www.trustintelligence.co.uk/events A few take-outs... Dividend - With the benefit of hindsight the payout was probably cut too far at the start of the crisis last year. There is therefore likely to be a small making-up payment to satisfy REIT obligations for FY20. Someone also submitted a question re how quickly the dividend might return to pre-Covid levels. Whilst JB expected the dividend to rise strongly from the current level (0.714p per qtr), he questioned whether they should be even trying to return it to pre-Covid levels in such a low interst rate environment. Do not assume therefore that it will! Rent collection - Q1 21 rent collection is lower (low 80s %-wise) than achieved in previous quarters due to impact of current lockdown. Approx 5% of FY20 rent likely to be written off in final accounts. This relates to smaller tenants (of which the trust has a small number, e.g. hairdressers) who will genuinely be unable to recover the lost revenue to repay it at a later date. JB is still supportive of such cases. There are also some larger profitable tenants that are openly taking advantage of the current moratorium and have a policy of not paying rent even though they can afford to. JB cited as evidence discussions with one tenant where he had offered 2yrs rent free in return for a landlord only break option in 5yrs; the tenant refused as they don't want to miss out on making so much money from the location over the remainder of the full lease term. JB stated that they would be at the front of the queue to be dealt with once the moratorium is finally lifted. Sector comment - "Not all industrial is good". There is likely to be pressure on smaller multi-let estates with small local occupiers who will be impacted by recession. Longer term structural drivers means that most logistics will continue to be in high demand over the next 10yrs or so. Pricing is now v keen for logistics assets; SLI are looking at possibility of some speculative development as a means of getting more affordable exposure to this sub-sector. "Not all retail is bad". JB's focus is on affordable retail. JB does not subscribe to the death og the office. However he does think that there will be an inevitable shrinkage in tenant requirements as many workers work both from home and the office in future. Key to this sector will be having assets in the right place (he believes city centres will continue to be preferred to out-of-town locations due to better transport links into city centres and better general environment for workers outside of the office itself) that are cost-efficient (ESG) and offer amenities attractive to workforces. Also offering pre-furbished solutions (not fit-out required by incoming tenant) with short form leases which can be completed in much shorter timescales than traditional leases. Share buybacks - Opportunities for this are relatively limited due to closed periods etc. However JB views it as a sound investment buying back shares at a significant discount to NAV. DISCLAIMER: There was plenty more discussed besides the above. The above are just my own hastily-written notes from the presentation so apologies for any errors. Hopefully the video/audio presentation and slides might be made available by Kepler as playback in due course.
08/2/2021
11:43
spectoacc: High-ish price too - onwards & upwards for SLI.
08/2/2021
10:47
nickrl: Chunky own share purchase reported from 5/2 1,143,588 Ordinary Shares at a price of 60.62 pence per share 3,692,585 Ordinary shares now held in treasury https://www.londonstockexchange.com/news-article/SLI/purchase-of-own-ordinary-shares/14856502
13/1/2021
11:02
speedsgh: From Winterflood trust tips for 2021... HTTPS://citywire.co.uk/investment-trust-insider/news/strong-managers-cheap-shares-winterflood-unveils-trust-tips-for-2021/a1447639 In commercial property the analysts made two changes. Among mainstream, heavily discounted UK real estate investment trusts, they now prefer Standard Life Investments Property Income* (SLI) over BMO Commercial Property Trust (BCPT) for its higher industrial weighting, lower retail exposure and better dividend prospects. Among specialist UK Reits, the broker plumped for Civitas Social Housing (CSH) over rival Residential Secure Income (RESI) because the dividend behind its prospective 5.1% yield is fully covered. ‘Civitas offers an interesting opportunity for investors looking for secure income from a UK real estate portfolio and we believe that the portfolio’s long-term, inflation-linked leases are appealing,’ Elliott argued. Tritax Eurobox (EBOX) and TR Property (TRY) had also been retained, he said.
09/1/2021
14:56
spectoacc: A small Citywire mention: "Elsewhere in the property sector, trusts such as Standard Life Investments Property Income (SLI) and BMO Commercial Property (BCPT) have bounced from their lows but remain well-below the levels that they were trading at last year. My feeling is that most of these are oversold. For example, well over half of SLI’s portfolio is in industrial property, which is set fair. "
07/1/2021
16:14
llef: I've added to my position here too today. re the sales announced on 23 dec for 44m, looking back at end sep NAV results, SLI said the following "On 4 September, the Company completed the purchase of a B&Q Retail Warehouse in Halesowen for £19.5 million, financed by its low cost revolving credit facility. The purchase reflects an initial yield of 7.5% and is let to B&Q Ltd for a further 11 years to lease expiry, providing secure income given the strong tenant covenant and good unexpired lease term." so maybe this is they kind of purchase they meant when they said "We are considering a number of new investments that we believe will better meet the Company's needs in the future"
23/12/2020
12:00
speedsgh: A little bit of background on a couple of the disposals announced today... Interfleet House, Derby www.proplist.com/search/for-sale/north-shields?page=2 Property type: office Tenant: Atkins Ltd (part of the SNC-Lavalin Group) Rent: Lease expiry 2/2/2026 at the passing rental of £420,000 (£14.60 psf) Guide price: £4.65m Sold for: £4.3m Previous valuation: £3.8m Net yield: 9%+ Middle Engine Lane, North Shields Property type: retail warehouse Tenant: Smyth's Toys Background: Purchased by SLIPIT in Dec 2015 as part of the acquisition of a portfolio of 22 commercial properties from Aviva Investors UK Real Estate Recovery II Unit Trust, a Jersey property unit trust. SLIPIT undertook a fundraising (placing + offer for subscription) to help finance the purchase and the follwoing information was provided within the fundraising prospectus... HTTPS://data.fca.org.uk/artefacts/NSM/data-migration/100889980.pdf Address: Smyth’s Toys, Middle Engine Lane, North Shields Description & Tenure: Freehold. 1993 detached retail warehouse providing approximately 1,524 sq m (16,400 sq ft) GIA – the tenant has installed a 465 sq m (5,000 sq ft) mezzanine – plus 92 surface car parking spaces on a site of 1.51 acres. Occupational tenancy: Let to Smyth’s Toys UK Ltd for 15 years expiring 28 March 2022 with a rent review at 29 March 2017 at RPI over the previous 10 years compounded annually multiplied by 1.2% per annum, RPI capped at 2.5% per annum, with no further reviews. Current net annual rent receivable: £371,138 In SLIPIT's 2019 annual report the North Shields property was valued at £2m-£4m. Prior to that it had been valued at £4-£6m in each annual report since acquisition.
04/11/2020
08:34
dr biotech: Can’t say I normally agree with share buybacks, but the disparity between the NAV and current share price seems to make a lot of sense.
05/10/2020
16:28
skyship: An extract from my spreadsheet on 16 secondary propcos. # Extracted to show those on 40%+ discounts # AIRE & RGL included because of the great yields # All NAV stats are to Jun'20, exc. MCKS still to Mar'20 EPIC share price ...NAV...Disc...Divi..Yield --------------------------------------------- AIRE 51.00 83.60. 39.00 5.00 9.80 BCPT 67.20 120.70 44.30 3.00 4.46 BREI 52.00 96.60. 46.20 2.50 4.81 EPIC 49.50 90.24. 45.10 4.00 8.08 MCKS 190.00 329.00 42.20 7.20 3.79 RGL 66.00 102.60. 35.70 6.00 9.09 SLI 46.80 79.60.. 41.20 2.86 6.10 SREI 32.85 57.70. 43.10 1.54 4.70 "You pays your money you takes your choice"....but sure looks to be some great value out there, especially those showing good rent collections.
24/9/2020
14:11
kenmitch: Hi SKYSHIP, SpectoAcc and others here clued up on Property Trusts. After reading their results statement and figures a couple of days ago, I was thinking of buying SLI, as the plus points looked strong and share price fall has been relentless and now even lower than the market crash low! e.g that 40% NAV discount. Only 8.3% in retail. In sectors “well aligned to outperform in current environment.” Rent collection acceptable at 75% in August.....but rent collection lower than July. 92% occupancy. Very strong financial position. Also used to outperform but hasn’t for a good while. 40% dividend cut but yield still 6% and they are optimistic sustainable at this lower level. So overall looks very tempting. BUT SpectoAcc thinks others on bigger discounts and better rent collection appeal more. Can you name these Trusts please asthey too would be worth checking out. Am also keen to know the Trusts most favoured or held by some of the quality posters here. btw I hold AEWU and bought in the 60s and it seems a better choice now than SLI with higher dividend yield that also looks sustainable. Or have I got that wrong? I also hold Palace Capital and small punt on Macau Property on a huge NAV discount. The whole sector looks so bombed out with big upside when covid is over or vaccine for it. But finding the best ones is not easy and very time consuming, and some here are better at finding the quality bargains than I am!
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