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Share Name Share Symbol Market Type Share ISIN Share Description
Supermarket Income Reit Plc LSE:SUPR London Ordinary Share GB00BF345X11 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 106.50 106.50 107.00 107.00 106.50 106.50 2,164,497 16:35:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 0.0 32.8 9.8 10.9 709

Supermarket Income Reit Share Discussion Threads

Showing 251 to 274 of 275 messages
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
15/1/2021
09:16
Going xdiv on Thurs
return_of_the_apeman
14/1/2021
21:29
The 10 years at 188 is nuts Agree - I'm neither long nor short TSLA NIKLA is even more preposterous at a $8bn valuation, at least Tesla has got cars that actually work
williamcooper104
12/1/2021
14:29
127bps for 5yr right now!! Keep up! Actually, 10yr is 188 and 1yr around 90bps. 5yr was 570 in March 2020 and the 1yr was 600. They have a few years of cash at the current level of production so they can lose quite a lot per car and still keep solvent. As Charlie Munger said about TSLA - it is a stock that I would not dream of being either long or short. That's why he's not poor.
chucko1
12/1/2021
14:25
chucko - go on, tell us!
jonwig
12/1/2021
14:11
Last I looked the CDS on Tesla was c200bps - that looked the better risk/reward short given that Tesla's cashflow/debt service is its share price
williamcooper104
12/1/2021
13:02
My partial interest rate hedge is a fund I own which has among its positions: 1. a 175% short in UK gilts (a mixture of maturities, but probably an average life of around 15 years) 2. a short in TSLA So performance has been poor, but upon inflation, will go wild! I am happy to be short TSLA, so I just ride that one as a side-bet. The Gilt (and interest rate swap) position was largely established not far from these yield levels and I am not worried about significantly lower yields as BoE seems to be pretty luke-warm on the idea of negative rates.
chucko1
08/1/2021
23:54
Droning on about REITs is a sad hobby of mine, so no problem I owned O, sold about 18 months ago and bought WPC when it was yielding near 7, seemed better relative value and didn't like Os Walgreens/retail exposure What's your partial interest rate hedge? I've added commodities, annuity buy outs (PHNX and LGEN) and mREITs with mortgage serving rights (they go up in value if US mortgages are refinanced later than expected which ought to happen in higher rates - but as mREITs they are repo x-rated leveraged)
williamcooper104
08/1/2021
20:14
One thing they should think about doing is moving to monthly dividends - it's quite common in the US where high quality Net lease reits are used instead of bank deposits and get priced on a simple premium to treasuries - O being the best example (they've also bought U.K. food stores)
williamcooper104
08/1/2021
20:10
We could indeed - Amazon by drones will still need well located logistics hubs - there's probably a disrupter down the line for SUPR and logistics generally - but can't see much reason to worry about that now SUPR is wonderfully, delightfully boring
williamcooper104
08/1/2021
20:08
PHP is a good comparison PHP was solidly underwritten by alternative use value - traditional surgeries convert easily into resi - but that won't work given the current value of their assetsHeld PHP for years, sold out to top up MPW and NWH (US and Canadian hospital reits)
williamcooper104
08/1/2021
19:35
Yeah - this is some 200bps over PHP. Supermarkets or Surgeries - both pretty essential, I suppose. I picked TSCO merely because it got a little hot a few years back and is really in the middle of the pack credit-wise. I agree that the more pertinent question might be what might cause a systemic problem with this sector? Amazon delivering food via drones? What would be the mitigants to that? We could debate/argue that for many more posts!
chucko1
08/1/2021
18:48
I use SUPR as a home for uncommitted equity cash. Rather than leave cash in the bank - pointless. I put it in SUPR take the yield until such time as a new equity play comes about and then switch. I find it a sensible place to put spare cash on a temporary basis.PHP is an alternative play. All imho dyor etc etc.
berrydog9
08/1/2021
17:38
If this was £1.46 today the yield would still be 4% + RPI I would still see value in buying at that price Not expecting it to get there but if inflation does get going - who knows News on further aquisitions due imho We shall see Gla
return_of_the_apeman
08/1/2021
16:45
The credit de-linked argument works if it's just Tesco that blows up - but if Tesco blows up its more likely to be because somethings gone wrong at a wider industry level - eg it's could be like arguing that Debenhams will replace house of Fraser I can see little though that's going to go wrong here in the next 3-5 years - as always with long leased commerical property, the reversion can be when your "inflation" linked bond goes a little Argentinian The yield differential over logistics is c150bps, and forgetting about inflation, if we are in a long term deflationary cycle then there's a lot of capital growth room
williamcooper104
08/1/2021
15:36
In the past 324 months (27 years) the rate of inflation (RPI) has exceeded the average cap rate around 10% of the time. Has been lower than the floor rate (averaging just over zero) less than 1% of the time. They have struck these levels about right, but that is not surprising as Steve Windsor is quite capable of getting the net value of these two options (short the cap and long the floor) from his prior (significant) capital market experience (I should know - he used to try and flog things to me). CPIH caps are lower at 3%, but this rate averages 1% lower anyway. This 10% figure is pure data mining, however, as prior to 1993, things would not have been so rosy - nevertheless, upon a resurgence of inflation I imagine the caps would be raised somewhat which would have long term benefit (like insurance companies raising catastrophe premia post a catastrophe - best time to buy the shares of these companies!). I would not really compare this investment with that of a fixed bonds, anyway. You can, but look at where UK inflation linked Gilts are priced - at nominal Gilt Yields MINUS 292bps. You'd better hope for biblical inflation to buy these assets. Take the 2027 Gilt linker - a coupon of 1.25% plus inflation, but paying a price of 131.9% of par. SUPR has a "coupon" of 5.86% + "inflation". So whatever dents to the true inflation uplift, the added risk (including credit) is easily compensated for (which is also the clearly stated company view, FWIW). Worth bearing in mind that the WAULT is 16 years and that the income streams from the tenants are likely closely aligned with RPI. Talking about credit risk, the 10yr CDS level on TSCO is 137bps, so is a reasonable measure of added risk. That said, I would think that a failed credit could be replaced in short order but potentially with a loss of some value, but nowhere equal to the whole of the expected loss indicated by 137bps pa. I have bought quite a lot of these, consequently.
chucko1
08/1/2021
14:29
5.43% yield at £1.08 with inflation linked upside, sleep well :-)
return_of_the_apeman
08/1/2021
12:33
The mini bonds were an accident waiting to happen 100 percent property development lending to developers who can't financing from anyone else What could go wrong
williamcooper104
08/1/2021
12:32
Sorry - car parks potentially give development upside in that if we go fully last mile logistics and the supermarkets convert to warehouses - then they don't need the car parking
williamcooper104
08/1/2021
12:31
Some inflation protection - remember the PV of the lease - which is the true inflation asset is c50-70 percent of the total property value - the reversion - eg value of the property when the lease expires - is not automatically linked to inflation - it might be - but it might very much not be - it's better than a long bond which is most certainly murdered by inflation The leases themselves mostly have inflation caps too So it's got a degree of inflation protection - and will do very well if inflation is moderately above expectation The properties though are generally in good locations and the car parks givesevelomeng upside
williamcooper104
08/1/2021
12:17
Always some risk, but risk-reward is very good. The inflation-protection aspect may prove to be critical, although different economists have inflation outlooks all over the map (and beyond).
chucko1
08/1/2021
12:14
PDT - I'd agree with you, but for the fact that a great many savers will not touch "stocks & shares" (even more in Germany). These people can't stomach any risk, but a lot were drawn into mini-bonds thinking they were safe, like building society bonds! An added bonus - supermarkets seem to have traded well recently.
jonwig
08/1/2021
12:08
I thought of Supermarket REIT while I was watching Martin Lewis on TV last night. He was excited to tell viewers about the top paying 1 year fixed rate from a bank I had never heard of, the rate was a massive 1%. Second best was from Atom Bank paying 0.6%. He them said something like 1% is so good it won't hang around for long. Compare that to the REIT paying 5% over the next year at the current price of 108p. Inflation protection from rent reviews in the future. Tenants paying 100% of rent due. Supermarkets have had a massive and likely sustained boost to online making their omnichannel premises even more important. My view of the world is that interest rates and inflation will remain low for a number of years ahead. In the short/medium term this REIT seems great value for a relatively safe return or am I missing something?
pdt
06/1/2021
16:44
Waverton increasing holding:- https://www.investegate.co.uk/supermarket-inc-reit--supr-/rns/holding-s--in-company/202101061324348054K/
cwa1
30/11/2020
20:50
Think it's 4.5 yield for c20 years term income
williamcooper104
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
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