Supermarket Income Reit Share Discussion Threads

[chucko1] 03/9/2021 15:10

Or, it's off 3.5p having risen 15p. There had previously been some aggressive buying, so it is not a "fluctuation of concern" yet.

[williamcooper104] 03/9/2021 14:05

Possibly concerns about supermarket operators all being taken over by PE and leveraged up reducing covenant strength and/or fears that new PE owners will flood the markets with sale and leasebacks Both fears (IMO) overdone, to the extent to which the industry will see further PE bids and to extent to which any future PE owners will sale and leaseback food stores

[return_of_the_apeman] 03/9/2021 13:37

Any ideas why this has begun dropping? It's not that far above nav and another equity raise has not been mooted for a while :-)

[williamcooper104] 11/8/2021 18:36

That's probably true; there's a level of inflation that few assets/income streams can keep up with. I think it was RESI who said that they expected their uncapped RPI leases to be renegotiated if RPI was excessive And of course when retail rents become unsustainable the tenants/their lenders have the CVA (and the new US style court cram down power) to screw land lords with The best asset for inflation (IMO) is commerical ground rents (too much political risk with resi ground rents) - unfortunately the L&Gs of the world have been gobbling them up for their annuity books and thus there's no way of getting retail exposure

[jonwig] 11/8/2021 13:08

Given intense competition, can supermarket earnings keep up with higher inflation? Beyond a certain level, probably not.Hence a cap at around 4pc might simply accept reality.

[williamcooper104] 11/8/2021 12:38

The RPI is caped at around 4 - which is the CPI equivalent at nearly 5 Many new long leases are struck at CPI caped at 3 So while in a sustained high inflation environment we won't see a full pass through of inflation we will still do better than most comparable investments Don't forget that the floor helps too in that if you have lots of inflation volatility (which seems likely in the coming decade) then there will be years when the floor gives you a higher rental increase than inflation

[drg] 10/8/2021 17:35

There was a similar 'anomaly' on the 18th June. I'm surprised it's allowed as a closing price given that trading today has been within the 121-2 spread but there you go. It certainly paints a bullish chart if there's another fundraising in the offing.

[makinbuks] 10/8/2021 17:27

Similar to the spike in mid June, returned to normal the next day

[williamcooper104] 10/8/2021 17:24

Yep; just wondering about that

[cwa1] 10/8/2021 17:14

32,000 UT at 125. Hmmmm. That's a reasonable size trade well above the days offer

[bscuit] 06/8/2021 23:16

One problem is Specialist listing when it come to issues. Wife has a few from way back but CSD wouldn’t let her buy more, so we moved funds AJB for both of us and they had no problems. We have around 100k. An observation is that the RPI collar may have negative consequences.

[chucko1] 05/8/2021 15:56

Transient (is the word). Or is it transitory?

[williamcooper104] 05/8/2021 14:31

BoE seeing CPI getting to 4 percent, so that would be RPI getting close to 5 percent

[chucko1] 04/8/2021 13:09

And it's pretty well all trading at offered side. VWAP on the day of 120.95.

[nerja] 04/8/2021 11:21

Mr 250k is back again, he is getting quite a chunk

[financeguru] 02/8/2021 10:59

The gift that just keeps giving! Love it !

[nerja] 29/7/2021 11:19

He is back again with 250k buys

[return_of_the_apeman] 29/7/2021 07:26

Indeed, someone is hungry

[nerja] 28/7/2021 16:25

Some more 250k and 500 k buys going through again

[return_of_the_apeman] 27/7/2021 17:54

Nice volume today and over a million bought towards the close

[williamcooper104] 27/7/2021 11:05

I like the rise but I really liked the absence of any red here last Monday

[chucko1] 27/7/2021 11:00

Well bid again. Investors will see still value in this if they compare with other strong asset-backed like Warehouses.

[nerja] 27/7/2021 10:32

Quite a few 250k buys going through today

[brexitplus] 26/7/2021 18:38

Big jump today.