Starwood European Real E... Share Discussion Threads

[makinbuks] 13/12/2023 23:29

Very positive update, shame there is no update on the progress of the sale of the one impaired asset. If they get out clean from that it really is a rosy picture

[stemis] 12/12/2023 07:53

Capital distribution

[makinbuks] 23/11/2023 17:56

Nice uptick over the last couple of months, expect the gap to NAV to close further as 50% of NAV gets repaid in the next 6 - 9 months

[makinbuks] 21/11/2023 16:51

NAV for October £1.036 xd. Excess Cash £30.2m, so I expect another distribution announcement in December or January. Net income in the month 58p well head of the run rate required to sustain the dividend at £1.38/Qtr, so we may also see a special dividend declared again.

All good news and expecting some real developments in the next couple of months

[makinbuks] 20/10/2023 10:11

And there it is £1.04, winding down, 40% repayable inside the next 12 months so that 14% discount is surely going to narrow and still dividends to be banked on top

[makinbuks] 16/10/2023 10:51

NAV update for September should be this week

[makinbuks] 23/8/2023 10:47

Second distribution £30m at NAV of £1.03 again. Two more loans repaid in full. Cash in hand to meet commitments so all repayments can come straight to shareholders

[makinbuks] 26/7/2023 13:38

Latest factsheet for 30th June

hxxps://starwoodeuropeanfinance.com/media/1404/starwood-23-041-q3-fact-sheet-05.pdf

NAV 103.75p
£61m (16% of book)expected repayment in coming weeks, will distribute a further £13.7m being the excess over final existing commitments
Some signs of stress with one provision of £1.7m raised, but in a case where the LTV is 94% against an accepted sale price

[makinbuks] 20/7/2023 11:15

Surprised this hasn't bounced on the better interest rate news

[makinbuks] 20/6/2023 08:58

First £10m to be returned at NAV of £1.03. We should get a full update in July

[ramellous] 04/5/2023 17:25

Ex div today

[makinbuks] 21/4/2023 11:04

Another excellent update, 8.5% of the loan book repaid in the quarter remaining average length 1.5 years, 77% still floating rate and LTV 58%. Now got cash in the bank. I hope they do more buy backs. NAV 103p discount has to close this year

[makinbuks] 02/2/2023 18:26

Todays rate increases will enhance margins further on 80% of the book so the income should be good even in wind down.

I wonder how much of the uncalled commitment of £49m will ever be deployed? That could be significant in the runoff process

[makinbuks] 02/2/2023 18:23

Very sad that we are to wind up. Would like to know how they envisage doing it. Is a quick sale possible? They have the resources and contacts, or are we going to take 3 years and let the repayments flow through? For me the biggest concern might be the UK residential development completing this year. The "majority" is pre sold, but I visited a block of flats under construction last weekend which boasted "over 50% sold" and without prompting the sales lady admitted that was no longer a valid claim with recent cancellations

[makinbuks] 04/11/2022 09:14

Not the worst thing that could happen, but I'd rather see the discount narrow and keep taking the dividends for many years into the future and trust the managers to reinvest the principal securely

[edwardt] 01/11/2022 06:20

I will take the cash happily at 1.02

[makinbuks] 31/10/2022 18:03

That would be a great shame, this team have proved themselves as extremely competent and deserve a better rating.

[stemis] 31/10/2022 15:35

It apparently means a winding up...

[makinbuks] 24/10/2022 08:29

Not sure what they mean by this:

"In addition, the Board has been consulting with investors in recent weeks in recognition of the ongoing discount control assessment period."

They have £139m maturing in the next 12 months so plenty of cash around

[makinbuks] 21/7/2022 07:47

A share buyback programme is a clear indication that the portfolio continues to perform. Rising interest rates are going to work in our favour too with a high proportion of the portfolio lent on a floating basis

[makinbuks] 22/4/2022 10:54

Another positive update this morning. I like the fact that they don't just look at the economic indicators that directly affect them but those of their customers too.

[killing_time] 22/4/2022 07:20

Starwood European Real Estate Finance Limited (the "Company") has declared a quarterly dividend in respect of the first quarter of 2022 of 1.375 pence per share as targeted, payable on 27 May 2022 to Shareholders on the register at 6 May 2022. The ex-dividend date will be 5 May 2022. The targeted full year dividend is 5.5 pence per share equating to an annualised dividend yield of 5.9% based on the closing share price on 21 April 2022.

[killing_time] 20/4/2022 06:13

SWEF NAV up to 103.13p for March.

[killing_time] 24/3/2022 07:07

Results out today, all look ok.

[killing_time] 03/2/2022 08:39

XD today, 1.375p payed on 25/2/2022