Added at £1.08, low vacancies 2 left at update, 1 under offer Vacancy reversions over 20% when relet. NAV around £1.60. New lettings usually long leases 10 years as tenants want to secure business premises unlike offices. Seems very good value. |
UK 10-yr @ 4.30%, YTD high.
Little wonder sector SP's are flagging. |
Statement about as strong as you could hope for, but friendless for now.
It's got to be rising yields weighing.
Nice to see occupancy rate improve. |
Nice reversion being realised is a real positive that NRI will grow here albeit slowly but enough to keep divi covered and with potential for an increase. |
Plainly a well managed and focused company in what has for now has become an unpopular sector. Worth watching. |
Very positive numbers. Unbelievable to see these at these levels... |
"Urban Logistics (LON: SHED), the only London listed REIT offering a focused exposure to single-let, last mile/last touch logistics real estate...".
Only just, pal, only just. Interesting addition of the word "focused" tho.
Edit: BERENBERG REINITIATES URBAN LOGISTICS REIT WITH 'BUY' - PRICE TARGET 142 PENCE
(Copy/paste, apologies for caps). |
Yup, we could wake up to more troubling ME news on any day, Israeli retaliation, then it becomes a cycle.
Around a 34% discount to NAV allows for a good deal of the current backdrop - however if widet markets sell off it's likely available lower down. |
Good luck @EI. Getting tempted to add more - but wondering if they want to test 100p again, particularly if geopolitical goes the wrong way. |
Doubled my small position here today,
however yields continue to rise. |
For sure; remains an unloved sector and could be more gilt market volitality |
The decline may still have some legs. |
If they don't recover then yes LMP and many others would be interested Buying in cheaply to LMP wouldn't be a bad outcome |
Bought a small amount. |
Is the arguably large dent to credibility recoverable - or an approx 30% discount to NAV the new norm going forward..?.
They now can't grow. Perhaps may be of interest to LMP at some point?. |
Just looking at this for a possible buy.
Could the recent Segro capital raise be a factor in the SHED price weakness..more capacity to come on market..?.
Or because of the aborted merger with API, investors have concluded SHED will now remain a relatively small Trust, while some others continue to grow.
The above may be too rudimentary a view. |
They tried to buy something outside their remit/competency - sure, they'd sell the offices, moorland, retail, but they were talking about wanting the Retail Parks as well as the Industrial. Looked opportunistic and a marked divergence from what they were set up to do (last mile).
WHR/BBOX are nearer Big Shed than Last Mile but would still have been a lot better. |
Spec
Dont follow that comment ?? |
@hindsight - if they'd done that with say WHR, or BBOX, fair play. But welcome aboard :) Feels too cheap here to me. |
Inv Mgt fee drops next month here giving a few quid extra to pay off those advisers fees and help keep the divi covered |
Got on board today, post US CPI couldnt resist the discount in quality. In fairness they viewed API as a way to raise capital at par and then correctly walked away rather than up offer to get it over the line |
Not for me ! |
Would love them to be. Shredded their reputation somewhat with the move on API.
If they get to £1, I'll start selling the family silver. |
I bet SHED are really glad they went in for API - now down almost 15% since it was announced and no sign of any recovery. Could become a target themselves now. |
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