Starwood European Real E... Share Discussion Threads

[killing_time] 03/2/2022 08:37

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[killing_time] 03/2/2022 08:36

!FOLLOWFEED
STARWOOD EUROPEAN REAL ESTATE FINANCE LIMITED is an investment company listed on the main market of the London Stock Exchange with an investment objective to provide Shareholders with regular dividends and an attractive total return while limiting downside risk, through the origination, execution, acquisition and servicing of a diversified portfolio of real estate debt investments in the UK and the wider European Union's internal market.

[killing_time] 21/1/2022 11:01

Thanks Makinbuks

From LSE site:
Starwood European Real Estate Finance Limited (the "Company") has declared a quarterly dividend in respect of the fourth quarter of 2021 of 1.375 pence per share as targeted, payable on 25 February 2022 to Shareholders on the register at 4 February 2022. The ex-dividend date will be 3 February 2022. The targeted full year dividend is 5.5 pence per share equating to an annualised dividend yield of 5.8% based on the closing share price on 20 January 2022.

[makinbuks] 21/1/2022 10:59

No I read Investigate every day for RNS's. Purely on a time basis I only tend to read the 7am announcements. This is the link to todays announcement:



but if you click on the "Todays Announcements" button you see a full list of them

Theres a similar feed on the LSE site

[killing_time] 21/1/2022 10:51

Hi Makinbuks, it would be good to have a news link to this site, where are you picking up the RNS from, Their main web page ?, thanks KT.

[makinbuks] 21/1/2022 10:42

Really positive update today from this unloved solid income producer. Particularly liked:

"all loan interest and scheduled amortisation payments paid in full and on time"

coupled with:

"The Manager believes that the current investment pipeline is at its strongest since the Company was established, and sees attractive opportunities to create further shareholder value. Therefore I, and the Board, look forward to the future with confidence"

[killing_time] 18/1/2022 09:51

M1das_Touch

Hi, if you still monitor this board could you please go into edit and click on the news box please, thanks KT.

[stemis] 10/10/2021 12:52

Surely if interest rates do start to rise then the rates SWEF charge will also increase, leading to higher dividends?

[playful] 07/9/2021 06:05

I love this comment….

The Investment Manager believes the current investment pipeline is the strongest since the Company was established

[makinbuks] 11/8/2021 17:02

With todays announcement the manager is trying to say why is the market not rating us at a premium for our yield when they are willing to do so for so many arguably less secure infrastructure and property backed trusts. I agree, this is underpriced in my view and the team deserve a lot of credit for not incurring any defaults through the pandemic. I will increase my holding and follow these guys for the long term hopefully

[playful] 25/7/2021 20:58

Incredibly serene here

[makinbuks] 23/4/2021 13:29

Yes very encouraging update today justifying the lack of any writedowns. Positive statements on pipeline

[playful] 23/4/2021 12:13

Happy to have got in here when I did.

[makinbuks] 22/4/2021 10:00

Todays acquisition is in an interesting sector. Pleased to see gearing being deployed to back the managers judgement.

[edwardt] 26/3/2021 17:00

am in too.

[makinbuks] 26/3/2021 13:26

Our problem is that the market doesn't believe the managers that there is no need for an impairment review

[makinbuks] 26/3/2021 13:02

I think youre onto a good thing.

[playful] 26/3/2021 09:17

Taken a nibble this morning.

[makinbuks] 12/2/2021 17:02

Manager buying notified today, got to be a positive sign

[speedsgh] 26/8/2020 17:20

Stifel still positive on Starwood despite quiet dividend cut -

[speedsgh] 26/8/2020 17:18

Dividend to be re-based to 5.50p per annum from 2021...

Q2 2020 Factsheet -

CURRENT AND FUTURE DIVIDEND
On 23 July 2020, the Directors declared a dividend in respect of the second quarter of 1.625 pence per Ordinary Share, equating to an annualised 6.5 pence per annum. This was covered 0.95x by earnings excluding unrealised FX gains. We expect the dividend cover to reduce to approximately 0.87x during the second half of the year following the repayment and amortisation received in the second quarter.

The Board and Investment Adviser recognise the importance of stable and predictable dividends for our shareholders. Accordingly, we hold a dividend reserve built up over several years which we have been using to maintain the annual dividend at 6.5 pence per share over the last eighteen months even though the dividend has been uncovered by earnings more recently. As a result of this reserve, dividends have not therefore been paid out of capital reserves. The Company intends to continue to use the remaining reserve to maintain the annual dividend at 6.5 pence per share for the rest of 2020 which will leave a small reserve remaining.

In the period since the Group’s inception, the Bank of England base rate has reduced from 0.50 per cent to 0.10 per cent. The average 5 year GBP swap rate from inception to year end 2019 was 1.16 per cent, compared to 0.13 per cent at 30 June 2020 representing a fall of over 1 per cent on the average. At inception LIBOR / EURIBOR might have contributed up to 10 per cent of the company’s underlying return profile, today it makes up less than 1 per cent.

In light of the declining interest rate environment, from 1 January 2021 the Group intends to reduce the dividend target to 5.5 pence per annum (payable quarterly) which, in the Board and the Investment Adviser’s view, is a more sustainable level of dividend which should be fully covered by earnings whilst ensuring we maintain our strong credit discipline whilst managing risk. On the share price at 30 June 2020, a dividend of 5.5 pence per annum represents an attractive 6.4 per cent dividend yield.

[makinbuks] 13/8/2020 09:58

Nothing out of the ordinary and paid for of course, but good to see the managers trying to cut the discount with this article and the share buyback scheme underway

[makinbuks] 13/8/2020 09:56

hxxps://www.trustintelligence.co.uk/investor/articles/fund-research-investor-starwood-european-real-estate-finance-retail-aug-2020

[makinbuks] 24/7/2020 16:01

Strong update, all interest and repayments received in time. LTV 63%. 6.4% forward covered yield. Probably early days to assess the COVID effect on tenants