Urban Logistics Reit Share Discussion Threads

[eezymunny] 07/4/2020 14:58

Ah Horndean. You want companies to update the market when they haven't done anything? I think that's a durrr... If they have bought a portfolio they would've announced it if it was material.

If thickos sold at the bottom they sold to me, so thanks very much.

[nickrl] 07/4/2020 14:29

Not very familiar with listing/disclosure rules to know whether they should make an announcement but suspect not. They've updated the results of the placing and indicated they are exploring transaction but till it completes they don't need to say anything.

Maybe because of the extraordinary situation the information is more market sensitive than usual but it currently doesn't materially change the profitability of the business. How much rent they've taken in the qtr does affect profitability i would suggest but there not the only company yet to update.

[jombaston] 07/4/2020 13:19

I am sure the management will tell us if they agree a deal or pull out of previous plans. Until then we have to assume matters are still under discussion. This is normal business. If you don't have confidence in the management then you shouldn't be investing in the company.

[horndean eagle] 07/4/2020 11:42

They are not too busy to issue an RNS. It doesn't take a huge amount of effort. Others on the board were wondering about the cash position. Just stating it and reminding the market wouldn't have gone amiss. There were a lot of sellers who ended up taking hefty losses unnecessarily because the company didn't feel the need to update. Im sure they are quite aggrieved and wouldn't be too upset with the language I used. Admittedly there are a lot more people out there deserving.

[horndean eagle] 07/4/2020 11:05

Why wouldn't you go and update the market to confirm that you have have a strong cash position when your shares are going through the floor. His reply was they are very busy and they would look into it. It is disdain. I feel sorry for those who sold out and took hefty losses because of the inaction of the company.

[spectoacc] 07/4/2020 11:04

"Useless sh*ts" seemed a bit much too :) SHED one of my better performers (always, and helped by an avg).

[belgraviaboy] 07/4/2020 10:51

Scumbags? Calm down - that is totally uncalled for...

[jbarcroftr] 06/4/2020 19:55

Expect an announcement before 21 st ( special dividend)

[essentialinvestor] 06/4/2020 18:15

It's a good point.

Have they exchanged contracts on another acquisition?.

[spectoacc] 02/4/2020 14:52

Agree BUT wish they'd tell us! Makes a serious difference in this market, if they're basically loaded up with cash going into a slump ("slump" being largely baked in already).

[belgraviaboy] 02/4/2020 14:50

I would have thought that unless they had exchanged contracts they can walk away.

In the past, if they have exchanged contracts they have announced it pretty quickly.

My best guess is that they are still interested in the same assets but are engaged in renegotiating the price.

[nickrl] 02/4/2020 14:37

Seeing as they showed there hand on new acquisitions nearly three months ago its highly possible there well on with them so price could be baked in. If they were able to walk away i hope the inv mgr isnt going to get 0.9% on the money raised?

[spectoacc] 01/4/2020 07:06

I hope they've abandoned the entire purchase. Disappointed not to hear either way. This isn't a market to be buying anything in, there's a depression coming. The cash raised is to keep the company as (possibly one of the few, if it all goes the way I think it will) survivors.

[jbarcroftr] 31/3/2020 19:09

They were anticipating an initial yield of 6.8% on the advanced portfolio
I hope they will obtain in excess of 7.5% which will more than compensate for any delay in putting the cash to bed

[jombaston] 31/3/2020 17:30

The only drawback to having so much uninvested cash is that it won't be earning any return. But at least they have given themselves some breathing space as the new shares won't qualify for the upcoming 'special' divvy payment, which is a half-years worth.

Of course, a 20% discount to NAV becomes a much larger discount if you adjust for cash.

The last NAV was £126.11m. The company has a market cap of 221m less 135m in cash which is £86m, which is 32% below the last NAV.

So unless the company spend the £135m warchest unwisely, the discount seems somewhat excessive.

[jbarcroftr] 31/3/2020 15:20

Very pleased but not surprised to see some life in the share price.Shed seems to me to be in the right place with a lot of cash to invest

[spectoacc] 31/3/2020 15:14

The longer SHED go without telling me they've spent the c.£135m on the assets they'd lined up, the more confident I am that they're THE pick of the real estate ITs. Forget gearing, debt etc, they're cashed up to the 9's and ready for diving in to a buyer's market. I hope.

[spectoacc] 20/3/2020 09:18

Not sure I'd have done it but for being stuck in 25k at the 137.5k placing price, but doubled holding at 101.5p.

[jbarcroftr] 18/3/2020 19:32

I wouldn’t want them to move from last mile logistics.But the share price has dropped by 35% so maybe 8% initial yield on new purchases

[jombaston] 18/3/2020 18:42

That is exactly what I was wondering...SHED got very lucky raising cash when they did.

If they can't renegotiate terms, surely they can walk away and buy something else at a knockdown price

[jbarcroftr] 15/3/2020 17:45

Yes and I think they will be able to improve the purchase terms of the portfolios they have lined up
Cash is king and they have it

[jbarcroftr] 05/3/2020 08:04

SHED looks to be in a strong position
It’s got the money and will surely to be able to improve the terms on the portfolio it has in it’s sights