Urban Logistics Reit Share Discussion Threads

[scruff1] 13/12/2024 15:32

Just came in. Very late for HL - usually by 10.00am

[skinny] 13/12/2024 14:36

Thanks - HL are becoming more and more 'flaky.'

[shalder] 13/12/2024 14:35

skinny: Barc a/c, divi in @ lunchtime.

[essentialinvestor] 13/12/2024 14:06

Segro now on an approx 19% discount to NAV, oh my, But still yields sub 4%.

[skinny] 13/12/2024 13:33

Yet again HL seem to be late - has anyone had their dividend today?

[essentialinvestor] 11/12/2024 10:40

He thanks you!.


Mentioned on LMP yesterday that gilt yield movements are a potential risk for 2025.

I watch the UK 10-YR, which YTD has gone from yielding near 3.5% in January, to over 4.3% this morning.

A move I did not see.

[skinny] 11/12/2024 10:29

Arguably a , but also showing the high volume yesterday.

I hope your friend is well :-)

[essentialinvestor] 11/12/2024 10:21

For those of us who are not fluent in TA, a brief few words on how a chart looks (when posting one) might be helpful - asking for a friend ;.


Segro is being killed atm and I'm tempted to add a few, still yields under 4% and the market appears to be saying.. that's insufficient for the associated equity risk.

The market can rapidly reassess the above, obvs

[skinny] 10/12/2024 21:13

free stock charts from uk.advfn.com

[skyship] 10/12/2024 21:10

Extraordinary volume. Something sure going on here...

[spectoacc] 09/12/2024 15:45

LMP have always been the quality play, but I do like SHED management (albeit the Tufnells purchases, & the tilt at API, seemed like missteps. Regardless, it's cheap IMO).

[hindsight] 09/12/2024 15:44

bank credit is getting harder to find

Yes it is

[pyufak] 09/12/2024 15:43

the LMP call was interesting - said already had size lined up (100m deal on which 80m is warehouses) on so it would happen whatever over time as they sort out LXI portfolio as well. In addition on buying other REITs Andrew Jones laughed, said 'what am I allowed to say'; and then 'could I stress it takes two to tango'.

so not necessarily a given; I think probably Shed management not keen. I thought the LMP presentation was excellent - skyship is correct their paper looks expensive vs. peers but the security of income and asset recycling gives some comfort in valuation and dividend is covered and has been growing for 10 years. There has been discussion recently above moving away from valuing REITS on a NAV basis and looking at forward revenue streams for valuations where I'd imagine the differential between the two would look less stark.

I own both SHED, LMP and ASLI

[lefrene] 09/12/2024 12:41

shieldbug, the majority share holders be they institutions of some sort are very seldom loyal to a company. If they see a swift 20 to 25% profit, particularly just before a year end, there's an incentive to take it to flatter their annual performance. It all depends of course at what price they bought the majority of their holding.

This seems a solid well run company, but bank credit is getting harder to find, and property businesses are credit dependent business models.

[skyship] 09/12/2024 12:23

shieldbug - because most shareholders would accept a bid at a 20%-25% premium to Market!

[shieldbug] 09/12/2024 10:16

I can't imagine why they would sell the company at a discount. Can someone explain why they would do that. What part of capitalism is served? It must be the offer of jobs for the directors. Can anyone help me understand this?

[skyship] 08/12/2024 16:56

Opportunistic perhaps with SHED so low.

SHED a tad concerned perhaps as over the last 5 days declared they hoovered up 2.25m of their own stock.

[nickrl] 08/12/2024 16:35

LMP got a lot to digest at the moment will they move that quickly

[jbarcroftr] 07/12/2024 18:09

I invest mainly for my children and grandchildren and having lived through several property cycles am taking a 10 year plus view

[jbarcroftr] 07/12/2024 18:06

I am happy to hold and continue to collect the dividends
I think the manager is best placed to sweat the assets
I wouldn’t be interested in an all share offer at a discount to asset value especially if the shares offered are at a smaller discount
For the record I hold TRITAX LMP and SEGRO

[riverman77] 07/12/2024 17:21

Yes it was 125p in late September so a bid there would be extremely opportunistic and would surely be rejected. 135p might work and would probably keep everyone happy - SHED would get a 23% uplift, while LMP would get some quality assets at 15% discount.

[skyship] 07/12/2024 16:58

I agree with EI that LMP may well come for SHED. In any event SHED looking good value down at 110p, so bought a few on Friday.

I agree with Specto that a bid would surely have to be more than 125p. 135p might succeed. c23% up from where we are now!

[spectoacc] 04/12/2024 19:36

Can't see management selling their baby for as low as 125p, & nor should they IMO. That's little more than 2 years of compounded returns.

Not currently a holder - still hoping for nearer £1 to get in - but is definitely on my list.

[rimau1] 04/12/2024 07:38

Agreed, 33percent discount to Nav so 125p all share would be sweet enough in my view. Albeit Nav is a pointless metric it is a lazy broad brushed guide for me. Shed is a sitting duck and a 7percent dividend whilst we wait. I have bought more with API proceeds, I just don't see any material stock specific downside.