Urban Logistics Reit Share Discussion Threads

[scruff1] 24/11/2022 09:31

and good to see a nice lift so soon afterwards - so well said nimbo and William

[scruff1] 24/11/2022 09:01

Ex div today

[williamcooper104] 22/11/2022 10:54

Yep - it's SHED, BBOX and, while never cheap, SGRO

[nimbo1] 22/11/2022 09:56

now we've had a chance to look under the hood of all the warehouse reits, shed is clearly best in class - bought the most defensive properties, didn't get sucked into paying 3% NIY's like WHR did. Low LTV with low cost debt for the time being.

[spectoacc] 14/11/2022 15:31

Have always liked the management here (unlike many of the "retail punter" REITs) but just depends on valuation for me - I see a recession coming, and no return to ZIRP.

[giltedge1] 14/11/2022 15:28

Good result, LTV lower than I was expecting, so good, can selectively, add properties next 12 months. One of few REITS which can possibly raise dividend next few years.

[nickrl] 13/11/2022 19:23

Interesting that SHED have significantly outperformed the valuation declines that both CBRE and Savills have published along with others propcos that have reported NAV updates.

Doesn't currently cover the divi at the cash level but given good reversionary rental income should easily cover next year even if they only achieve current ERV with no further growth over the next couple of years. Assets have a good EPC ratings with debt in good shape and majority of debt fixed this was certainly a great opportunity back in mid Oct but feel its fairly valued at this level until we are clearer what lies ahead for UK economy.

[scruff1] 13/11/2022 12:52

Being very vociferous today William. I'm taking that as a good sign :-)

[williamcooper104] 13/11/2022 11:46

Yep; the one immutable rule of all commerical property is that it's cyclical Just seems there's a fair bit of runway to go on sheds/industrial

[jbarcroftr] 13/11/2022 11:24

I am a big fan of Shed - and will continue to hold until the value exceeds the replacement cost - a long way to go

[skinny] 13/11/2022 10:54

Thanks Jonwig - an interesting read!

[jonwig] 13/11/2022 08:33

Logistics falls overdone, lots of comparative tables across the sector -

[trekker60] 11/11/2022 11:51

Bought some shares in this several years ago at around £1.20 as a likely long-term hold, primarily for income but with hopefully a bit of capital growth thrown in. The latter has obviously taken a bit of a hit recently but still a good dividend. So to my amateur eye, FWIW, the latest results appear to confirm the case for a long-term hold.

[williamcooper104] 11/11/2022 11:04

(That's me that is :)

[bathcoup] 11/11/2022 10:36

- his vocabulary? -

" ... we create value for our shareholders through our strategy of improving covenants, increasing lease lengths and increasing rental rates to improve our portfolio."

[spectoacc] 11/11/2022 08:56

@jonwig - he's a property man, many of them can't even sign their own names ;)

[skinny] 11/11/2022 08:45

It seems the market agrees!

[spectoacc] 11/11/2022 07:35

Reads pretty well on everything - debt, NAV (-3%), LTV, collection.

[giltedge1] 30/10/2022 16:17

Shares fell back on friday, I assume due to Amazon comments. But Amazon not even a top 10 Tenant. As far as I can tell top tenants, logistics companies for storage/e-Commerce.

[giltedge1] 27/10/2022 10:20

This has been a great short term trade opportunity, been giving away when in low 120's, when you factor in falling Gilts tail wind, still good up to £1.50.

[scruff1] 26/10/2022 09:26

No skinny I knew that - it was good. But I thought it would be nice to search out a few positives in these miserable times. I gleaned them from an article posted some time ago by Williamcooper over on BBOX

[skinny] 26/10/2022 09:05

Scruff - I actually posted "any negatives?" - it was an attempt at humour - I'll get me coat.....