Supermarket Income Reit Share Discussion Threads

[williamcooper104] 02/9/2022 11:21

Gilts blowing up UK is the plague island with the plagued economy Inflation could get > 20 percent Everything getting hit I'm treading water with a few shorts and a lot of dollar long positions

[chucko1] 02/9/2022 11:16

The Berenberg call to 120p (from 140p) clearly initiated this. However, the continuing savaging of all things Gilts are more straws on the back. In the case of the linkers, large straws.

Add to that the anticipated rate of inflation way, way above the average cap, and you can see more cases for concern.

However, given the cap is well ABOVE the rate of funding, then I see this as a false concern (certainly in relation to the other downgrade from Peel Hunt a two months or so ago).

[adamb1978] 02/9/2022 09:39

Any views on reason for the sharp mark down?

[prokartace] 02/9/2022 09:29

115p I will buy back

[williamcooper104] 31/8/2022 11:39

Yep - the 2068 linker was the dot com gilt

[chucko1] 31/8/2022 09:50

Long dated linkers now yielding -0.49%. I know I keep banging on about these, but they have risen 200bps in yield!!

The Odey fund is now LONG these against a huge short in the nominals. I disagree - they ought to have just kept the huge short and not "hedged"! That said, if we see that 20% or so inflation print, there will be a price (if not yield) inflection on these linkers. So much so, already, that short-dated linkers are flattish on the year. The 2068s of which I write, have lost close to 70%!!!

And yet, SUPR still cheap on that metric.

[chucko1] 31/8/2022 09:46

The TSCOLN £33s now yielding 5.25%

That matters.

[williamcooper104] 31/8/2022 09:20

Holding up better than I'd have expected given carnage in the gilt market and ever increasing expectations of inflation > high teens Going to be a brutal market

[igoe104] 22/8/2022 11:58

Jonwig, warehouses aren't suffering from a slow down. Obviously you haven't listened to Bbox or WHR recent presentations...

[williamcooper104] 22/8/2022 11:22

Citi calling UK cpi to get to 18 percent - wow

[jonwig] 22/8/2022 10:14

Amazon a bellwether of consumer confidence. Has raised fee for Amazon Prime and is suffering cancellations.

Online shopping in general will suffer, as much of it is discretionary. Supermarkets may lose online deliveries, but that won't harm, as the stores will be busier. (The best reason maybe to head for the reduced sections?)

Warehouse property is already showing the effects.

I don't know if it's relevant, but Ocado are showing a lot more "out of stock" products in their lists.

[williamcooper104] 22/8/2022 10:00

Amazon fresh announcing they aren't rolling out any new stores

[williamcooper104] 18/8/2022 11:03

Looks like an unlevered 9-11 return

[williamcooper104] 18/8/2022 11:02

Looks good - 5.1 yield, some shorter lease maturities but that means more exposure to open market rents which ought to be a good thing in current market Caps at 5 too

[cwa1] 18/8/2022 10:58

Acquisition news:-

[thamestrader] 04/8/2022 18:58

8% seems to be the magic number. SUPR is 8% of my ISA.

[chucko1] 04/8/2022 15:37

My hard ceiling has a spiral staircase which I climb in certain circumstances. A staircase built on the previous profits arising from various panicking sellers.

[williamcooper104] 04/8/2022 14:28

8 is about where I'm at too - happy to add on weakness with a hard ceiling at 10

[chucko1] 04/8/2022 13:31

This is why the management of the debt is so important for SUPR. They are limited to increases of, say, 4% - and there are frequent arguments as to the extent to which this is bad for shareholders of SUPR. Certainly on this board.

Except that if they are fully hedged (not that Peel Hunt think they are), then being way over the cap is only opportunity cost as opposed to real cost. This would only affect the share price were there to have been an expectation of greater riches, and I do not see that there ever were at the current share price, or even its high at 132p or so.

If I were to compare the ability of the Atrato management to manage their debt with the ability of the analyst(s) at Peel Hunt to analyse what they are doing, for me, it's akin to Liverpool playing Tranmere. Not a certainty, but at its recent low of 116p post Peel Hunt comments, it was like betting on that football match at even odds.

That said, I have now sold ALL of what I bought down below. But the remaining position still represents 8% of my equity holdings.

[williamcooper104] 04/8/2022 13:00

Bit of an x rated horror show from BoE RPI peaking at above 15 percent

[williamcooper104] 04/8/2022 11:44

From React News Behind paywall

[williamcooper104] 04/8/2022 11:43

Think this is it Supermarket Income REIT has put a 230,000 sq ft retail park anchored by a Tesco under offer for around £90m, React News can reveal.Willow Brook Centre in Bradley Stoke, Bristol, was put up for sale by CBRE Investment Management and Arax Properties earlier this year for around £87m, a net initial yield of 5.7%.The park has held its value since CBRE and Arax bought the park in 2016 for around £88m from Tesco and BP Pension Fund.Harvey Spack Field and LB Real Estate were mandated to find a buyer for the asset just before the market began to feel the effects of rising inflation, cost of living, debt challenges, and supply and staffing issues.

[brexitplus] 04/8/2022 10:17

I can’t find anything, but good to spend the cash available.

[cwa1] 03/8/2022 17:43

STATEMENT RE PRESS SPECULATION

3 August 2022: Further to recent press commentary, Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-protected, long income from grocery property in the UK, confirms that it is currently in discussions to acquire an asset.

The Company will make further announcements in due course, as appropriate. There can be no certainty that the acquisition will be agreed or as to the terms on which any transaction might be concluded.

Anyone know what the press speculation actually was?

Cheers

[williamcooper104] 18/7/2022 15:50

Yep - ordinary dividends not subject to a PID - and some of the divis have been ordinaries