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Share Name Share Symbol Market Type Share ISIN Share Description
Value And Income Trust Plc LSE:VIN London Ordinary Share GB0008484718 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.00 -1.07% 184.50 180.00 181.50 191.00 182.00 191.00 50,388 16:35:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 10.5 5.2 10.9 16.9 84

Value And Income Share Discussion Threads

Showing 126 to 148 of 225 messages
Chat Pages: 9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
06/4/2020
10:56
Problem according to some of the funds is that nobody really knows yet what affect the virus has had on property values yet I assume because very little business is being done.
tim 3
06/4/2020
10:45
Prop val is 31 March ...so still not sure whether it's included or not?
konkel
06/4/2020
10:44
I notice several property funds are currently "gated".
tim 3
06/4/2020
10:21
But obviously no property revaluation in that yet. Not, I'm fairly certain, that any revaluation is going to show much yet. Every one will carry the RICS uncertainty clause, as a get-out for actually declaring a value. (In fairness, no transactions to judge value by).
spectoacc
06/4/2020
10:18
NAV better than I'd expected...the fact sheet should be out in a week or so at which time we should hear more about rents receivable.
konkel
06/4/2020
07:47
Thanks for sharing that information konkel. This is on my watchlist for potential purchase at some point.
webpax
03/4/2020
16:02
I spoke with Co last week. They were tight lipped as property valuation is end March for release early April..hence they're in a closed period. One would have to expect a sharp downwards revision and, in all likelihood, some bad payers re rents. Also some dodgy smaller holdings....from memory Marsdens, Restaurant Group and Cineworld...all closed, overleveraged basket cases (for now at least! VIN itself is leveraged through its horribly expensive debenture so no surprise this one has fallen more than the market. I own some but, luckily, did take the top off much higher up so will look to add when we know more and when things calm down.
konkel
03/4/2020
14:09
Must admit I'd taken VIN off my watchlist after selling, wonder at what point it's a long again. Need to dig through their dodgy holdings and property tenants. Edit, and now possibly out of date: 33% UK property, and a Top 10 of: ULVR - GSK - BP - VOD - BEZ - LGEN - PNN - SXS - CRDA A few divi-cutters in there already, and a few more to come, but not that bad a defensive set IMO. If anyone remembers the comm prop tenants to save me looking... I recall they did some selling & buying recently. Edit #2 - this is what I was thinking of: "We bought three new properties over the year with RPI-linked rent reviews: an industrial/ warehouse in Aylesford, Kent just off the M20, and two bingo halls in Bradford and Manchester, at a purchase price of £8.8 million and an average net initial yield on purchase of 6.6%; their average unexpired lease length was 19 years. We sold two pubs in Lancaster in view of covenant concerns as well as short-leased retail properties in Bedford, Oxford and Sevenoaks at a sale price of £10.3 million (5% above valuation) with a net initial yield of 7.3%, falling to below 6.0% on their current rental values. The property portfolio was fully invested at the year end." Good news to ditch the pubs, less so to buy two bingo halls - wonder how secure the covenants are. At last AR, VIN owned: 11 pubs/restaurants 4 Industrials 3 Leisure (in addition to pub/restaurants) 2 petrol stations 2 "Other" 2 supermarkets, but annoyingly the lowest rental stream of the lot. That's in order of rental income, from £1.2m pa for the pubs/restaurants, to £226k for the supermarkets. All-in-all, not great, depending on your view of how long the Covid-19 disruption lasts (a long time, in my view).
spectoacc
29/12/2019
11:11
Yes, a good earning benefit once the 11% debenture is repaid. They have already effectively refinanced it taking advantage of low interest rates. Will have a negative short term impact and then a positive medium term impact.
topvest
29/12/2019
01:27
just wanted to make a note of the debentures for this trust. 11% First Mortgage Debenture Stock 2021 - Annual interest £1,650,000 9.375% Debenture Stock 2026 - Annual Interest £1,875,000
mozy123
26/12/2019
21:24
I agree. The sole mark suggests an internal cross without the jobber being involved.
coolen
25/12/2019
18:06
Yes, interesting. It looks like he’s not too happy about being dumped. As I have said previously, the Board have not been very transparent. We know that something has happened, but they are not going to let shareholders know until the EGM motion flies in. I would predict that Matthew Oakeshott will be staging a comeback in 2020. To be honest, at the moment, I would be inclined to back him given the Board haven’t been straight with us.
topvest
24/12/2019
22:54
16 December announcement looks like an increase in the Oakeshott interest. Perhaps today’s big trade is more of the same?
sleepy
24/12/2019
22:49
Only a one sided trade tho?
konkel
24/12/2019
22:38
Wonder if it is an Oakeshott family trust reshuffle ?
coolen
24/12/2019
13:25
Wow....I think that's the biggest single trade I've ever seen in this stock!
konkel
06/12/2019
14:34
Agreed :-)
konkel
06/12/2019
09:48
Looking at the Hargreaves 10 year charts, the biggest share price discount to NAV has been c.25% and the lowest c.5%. It is difficult to be precise, but I'd estimate the average over that period to be around 17% ie skewed more towards the bigger discount end. The recent refinancing is good news as far as I'm concerned but the timing suggests that VIN are expecting interest rates to go up otherwise why execute so early? VIN is already paying a dividend at a higher rate than its earnings but I don't see any imminent issues on that front. The share price is fairly close to average long term discount at the moment with no particularly good company news in prospect. That said, it will be probably be market performance that drives performance over the next 15 months. Most of the property portfolio is in the secondary retail/commercial which looks less vulnerable to internet interference. I remain happy to hold.
ygor705
10/11/2019
11:26
riskvsreward - Thanks for that, I had not yet got around to looking at what loans they had incurred. It does make a difference.
losos
10/11/2019
10:32
Performance (the lack of it)and fixed term loans at very high interest rates, meaning losing money on those loans as they cannot make a return on it matching its cost, are the reasons for the relatively large discount
riskvsreward
10/11/2019
09:10
'morning guys & gals :-) Have been looking at this one for a while now. I used to be in Highcroft when they had a similar property / equity mix but about five years ago they sold off their equity holdings. Can anyone tell me what the average long term 'discount' has been, seems a tad high at around 20% now. But, sadly, I've reached that point in life where yield is most important so VIN is worth my thinking about so anything ygor & Specto can add would be appreciated.
losos
02/9/2019
20:33
SpectoAcc .... apologies, misread on my part. Makes the weak share price even more difficult to explain.
ygor705
31/8/2019
18:59
@ygor705 - I had Oakshott as adding just over 1%? Back in July tho.
spectoacc
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