Target Healthcare Reit Share Discussion Threads

[bathcoup] 03/3/2021 08:43

My subscription has received full allocation. I understand there's a scaling back. Presumably it only applied to large orders.

[jong] 01/3/2021 12:38

Is anyone with a Halifax Sharedealing account still waiting for last weeks dividend (26th Feb) to be paid ?

[fez77] 25/2/2021 16:11

I see THRL are at 112.3 which is unspectacular but not discouraging. I'm still holding off at the moment.

Apollocreed - I haven't ventured into GCP either yet. Keeping an eye on future IPOs. Brewdog is coming - but not sure if PrimaryBid are involved.

[alter ego] 25/2/2021 12:05

"Further to the Company's announcement on 12 February 2021, the Board of Target Healthcare REIT plc has carefully considered the strong level of support from investors during the marketing roadshow, along with the attractive investment pipeline sourced by the Investment Manager, and decided to increase the target size of the Initial Issue up to a maximum of £60 million."

[bathcoup] 24/2/2021 14:50

Thought this is THRL thread! Anyway, I have dipped my toes in THRL by subscribing 5,000 shares.

[apollocreed1] 23/2/2021 18:22

Re GCP Infrastructure, it's a very secure 7% dividend yield at about 1% premium to its 102p NAV. They provide secured loans for renewables (60%) social housing (25%) and Infrastructure like roads (15%). A lot of their income streams are government backed and nearly all inflation linked. They do not have the risk of managing the infrastructure assets-they just collect payments as a secured creditor. They have traded in the past at 120-130p so I think this is a very good price. Price weakness is because they had some loan repayments in December and reinvesting the money is a challenge because so much money is competing for renewables so yields have been pushed down. However GCP is one of the best companies in the sector and the team has more experience than all the new upstarts. Including dividends they've returned 110% over 10 years with very low volatility.

[apollocreed1] 23/2/2021 18:20

@Fez77-I noticed today that I could buy GCP Infrastructure Investments at 103p on a 7% inflation linked yield which I think is much more secure than THRL. I was also surprised that THRL only collected 91% of the last quarters rent -many of the office and retail companies like RGL,EPIC and AEWU have had around 91% collection rates, but I would have expected THRL to have much less risk of defaults.
So now I have a suspicion that maybe this capital being raised is to deal with cash flow issues and not for expansion as they actually state in their RNS.

[fez77] 22/2/2021 16:49

I've been studying the IPOs and Subscriptions on PrimaryBid and have noted that with some exceptions (like TGR, NGHT, and IDEA), the share price tends to stay around the offer price for some time after the new share release. The recent IPO - Cellular Goods - will probably show a premium because it was well oversubscribed (and well "hyped" being a Cannabis type stock and therefore "flavour" of the month!)but I suspect that THRL will be available for some time at or around the 111p-113p mark. I will be keeping my powder dry on this one for the present time.

[cwa1] 22/2/2021 10:22

I see that the THRL offer is now available on PrimaryBid as well

[paulwannaretire] 17/2/2021 18:01

Thanks. Really helpful. Appreciate ir. 👍

[ec2] 17/2/2021 13:55

New shares are being issued at 2.6% premium over NAV so this is marginally positive for the share price. Reason for the slight drop in current share price is mainly due to your second point. I have indeed sold some of my holding this morning (10000shs @ 112.4p in order to buy back plus a few more in the offer at 111p. If you are going to do this only sell a small part of your holding as you would not wish to end up with less than you started with due to scaling back.

[paulwannaretire] 17/2/2021 12:38

Hi all,
Hoping you can help, I haven't been in this situation before.
I take it that the share dilution will inevitably lead to a slight drop in price. I guess this will already be priced in?

Now that the offering has been announced, would applying for additional shares @111p and then selling your existing holding at 113p or is this sneaky move not permitted?

Thanks

[cwa1] 17/2/2021 11:23

Yes, the issue seems to be fixed now and they are accepting my instructions. Would have been nice if they had got it right in the first place, but better late than never!

[cwa1] 17/2/2021 07:58

Great, thanks very much nerja, will try again later this morning when I get a mo!

[nerja] 16/2/2021 18:06

Cwa1, mines finally gone through, like you tried phoning twice no joy, but it’s good to go now ,they have changed the form.

[cwa1] 16/2/2021 16:50

Of course, now that I've tried to put an order through on the corporate action option at ii it won't accept it. Groan. Says there's been a problem and that I should give them a phone. Waited 30 minutes listening to muzak and gave up. Where to now? Anyone else use ii that has taken up the offer successfully?

[alter ego] 16/2/2021 16:18

Same at HL. Can apply to buy any number subject to scaling back. Minimum application £1000. Closes midday Mon 22 Feb.

[cwa1] 16/2/2021 08:38

FWIW, ii have made it available under the Corporate Actions heading. Slightly tempted to add a few

[alter ego] 12/2/2021 13:20

never been charged by my broker (HL) for participating in an offer for subscription.

[ec2] 12/2/2021 13:13

Yes your broker can submit an application for you in either the placing or the offer for subscription. They will most probably charge.

[saltaire111] 12/2/2021 12:27

I’m trying to interpret this section:

The Offer for Subscription is being made in the UK only but subject to applicable laws the Company may issue and allot New Shares on a private placement basis to applicants in other jurisdictions. The public generally (unless they are located or resident outside the UK) may apply for New Shares through the Offer for Subscription or the Intermediaries Offer.

So, under the intermediaries offer - does that mean my broker will participate and offer existing shareholders access to the placing? It’s now a very small discount but I’d still take the shares (as there’s no dealing charge either).

Salty.

[ec2] 12/2/2021 09:59

It's a very poorly written RNS and does not look good on the company. My interpretation is that the offer does not apply to all shareholders.

[alter ego] 12/2/2021 09:45

saltaire111, I think the offer for subscription includes us given this definition

"An offer for subscription is a type of corporate action. Like a rights issue or open offer, it allows shareholders to buy additional shares, usually at a fixed price. However, unlike a rights issue or open offer, you aren't offered shares in proportion to the number you already own."

[saltaire111] 12/2/2021 08:02

Looking at today’s placing announcement, I cant see if existing holders will be able to participate. I would apply for more shares if offered.

Salty

[ec2] 09/11/2020 12:47

Having bought in at 67.5p on 18 March today's jump seemed like too big an opportunity to take some profits. Slightly reduced my position at 118.15p. Still hold a lot though as I'm still positive on these for the steady income.