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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Value And Indexed Property Income Trust Plc | VIP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 6.00 | 3.19% | 194.00 | 16:35:06 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 194.00 | 194.00 | 194.00 | 194.00 | 188.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 18/09/2024 | Interim | GBP | 0.034 | 27/03/2025 | 28/03/2025 | 25/04/2025 |
| 18/09/2024 | Interim | GBP | 0.034 | 02/01/2025 | 03/01/2025 | 31/01/2025 |
| 18/09/2024 | Interim | GBP | 0.034 | 26/09/2024 | 27/09/2024 | 25/10/2024 |
| 08/09/2023 | Interim | GBP | 0.036 | 27/06/2024 | 28/06/2024 | 26/07/2024 |
| 08/09/2023 | Interim | GBP | 0.032 | 28/03/2024 | 02/04/2024 | 26/04/2024 |
| 08/09/2023 | Interim | GBP | 0.032 | 28/12/2023 | 29/12/2023 | 26/01/2024 |
| 08/09/2023 | Interim | GBP | 0.032 | 28/09/2023 | 29/09/2023 | 27/10/2023 |
| 22/09/2022 | Final | GBP | 0.036 | 06/07/2023 | 07/07/2023 | 04/08/2023 |
| 22/09/2022 | Interim | GBP | 0.032 | 30/03/2023 | 31/03/2023 | 28/04/2023 |
| Interim | GBP | 0.031 | 29/12/2022 | 30/12/2022 | 27/01/2023 | |
| 15/06/2022 | Interim | GBP | 0.03 | 29/09/2022 | 30/09/2022 | 28/10/2022 |
| 23/09/2021 | Final | GBP | 0.036 | 30/06/2022 | 01/07/2022 | 29/07/2022 |
| 23/09/2021 | Interim | GBP | 0.03 | 31/03/2022 | 01/04/2022 | 29/04/2022 |
| 23/09/2021 | Interim | GBP | 0.03 | 30/12/2021 | 31/12/2021 | 28/01/2022 |
| 23/09/2021 | Interim | GBP | 0.03 | 30/09/2021 | 01/10/2021 | 29/10/2021 |
| 10/09/2020 | Final | GBP | 0.036 | 01/07/2021 | 02/07/2021 | 30/07/2021 |
| 10/09/2020 | Interim | GBP | 0.029 | 01/04/2021 | 06/04/2021 | 30/04/2021 |
| 10/09/2020 | Interim | GBP | 0.029 | 31/12/2020 | 04/01/2021 | 29/01/2021 |
| 10/09/2020 | Interim | GBP | 0.029 | 01/10/2020 | 02/10/2020 | 30/10/2020 |
| 11/09/2019 | Final | GBP | 0.034 | 30/07/2020 | 31/07/2020 | 28/08/2020 |
| 11/09/2019 | Interim | GBP | 0.029 | 26/03/2020 | 27/03/2020 | 24/04/2020 |
| Top Posts |
|---|
Posted at 01/3/2025 11:00 by jellypbean I had been expecting a switch to REiT status, as income from direct property investments is taxed within a regular investment trust (not sure about CGT), and you can see from the accounts that this tax would have been substantial had they not had deferred tax to offset it against.Hence the switch to REIT actally benefits holders within an ISA, as without this the divi would drop due to the internally applied tax. Not sure how it might affect the 2026 redemption (though without the REiT switch, ISA holders would definitely want to redeem). Hope it narrows the spread: discounts to NAV I can cope with, but a wide spread leaves me looking for a way out. |
Posted at 25/2/2025 16:38 by citytilidie I hold those as well, but they will only be redeeming approx 10% of the company again via the issue of B shares. They seem to have stopped the opportunity to redeem excess shares and now redeem the same percentage for everyone. At the moment VIP may offer the opportunity to redeem ALL your shares at par. That’s a huge difference as it currently stands. Plus the dividend is double that of ASLI. |
Posted at 25/2/2025 12:40 by citytilidie An announcement has just come out proposing that VIP be reclassified as a REIT. No difference at all if held in a SIPP or an Isa, but should make the shares far more liquid, as well as reducing the often ridiculous spread between the price of buying and selling. This maybe is the prelude to them offering shareholders the chance to redeem some or all of their holdings at NAV early next year. The NAV is currently about £2.20, which with a 7% yield in the meantime, makes it very attractive |
Posted at 17/10/2024 08:56 by citytilidie VIP are finally continuing their share buyback, which will hopefully go on for a few months yet before they allow shareholders to redeem some/all of their shares at NAV in 18 months time. The broker involved with the buyback looks to be slowly raising the share price trying to attract sellers. As few people seem to be selling , this could easily move up in the coming weeks. Plus it gives a yield of over 6.5%. |
Posted at 12/6/2024 09:02 by citytilidie Interesting comment in todays update. The 2026 AGM is to allow a vote to exit VIP at NAV less a few pence in costs. NAV is currently £2.40 compared to the current price of £1.80. This discount is likely to close sharply over the next 2 years on the back of this. Worth the patience, as you also get a 6% yield in the meantime. |
Posted at 03/4/2024 14:28 by ygor705 Topvest.... I agree with your thought process here. In my view, VIP is a well diversified, high yielding tiddler which could easily get swallowed up by a bigger property fish if interest rates and sentiment starts to turn. I note that buybacks have dried up over the last couple of weeks so management are clearly being canny about how many they buy and when. The only thing that disappoints me here is share price performance! |
Posted at 03/4/2024 09:03 by topvest I've added a few more. Rationale for me is a possible £2 floor on net asset value and an 8% dividend yield whilst you wait. Asset base is high quality and probably conservatively valued. There is the promise of an exit at just below NAV in a couple of years time. Relative cost base is high, but property management skills are top class.Just a thought, but there is always the chance this trust could roll-over into SAINTS at some point given they have a property portfolio also managed by OLIM. What happens when the current major holder retires or wants an exit is the key question for both SAINTS and VIP, I suppose. |
Posted at 02/4/2024 12:34 by jellypbean Portfolio valued at a net initial yield of 6.6% vs SUPR on 5.8% (311223). Is the valuation of VIP more conservative, or does the type of property / lease justify the difference.I've noticed this in some of the infra trusts too; 3IN is valued using at a substantially higher discount rate than many if the others. Is the UK commercial property market functioning 'properly' yet, or do we still have instutes such as DB funds selling for regulatory reasons (in favour on bonds etc). |
Posted at 02/4/2024 10:41 by topvest Hi SpectoAcc. No, they are probably not the best property play, but I like it for dividend, exit opportunity in a couple of years, reliable owner/management with aligned interests. Unfortunately, they switched to property 2 years too early, so have suffered a decline in valuation on pretty much everything acquired in the last 2/3 years. I was attracted to the Hollywood Bowl additions 8.5% from May...that's quite good. Much better than Stonegate Pubs that they have been exiting probably due to the weaker covenant. There is another pub sale at a lower yield due to complete in July above book value.The debt is well fixed. I am not convinced that interest rates are going to stay "high" to be honest, but they will hopefully not get back to the zirp stupidity. I still think a global recession is coming and then the pivot will be well and truly on. They are out-performing the index most years and in the long-term. Matthew Oakeshott has out-performed the IPD Index 2 years out of every 3 on average. I like it, but am underwater so far! |
Posted at 02/4/2024 09:57 by spectoacc "...Index-related income". Hope the others adopt similar wording, but really - the latest acquisitions are capped at 3% pa, collared at 2% pa, at a time when we've just had 11%. Either there's an heroic belief in the BoE hitting a consistent 2%, or the different between 2% and 3% barely qualifies even as "-related".VIP's problem is surely its scale - £73m market cap, at a time when even larger ITs are getting abandoned by wealth managers. They've bought at 7.8%, sold at 7.5%, but agree the purchases are much better than the sales. "VIP has no empty properties and no offices. 29% of the portfolio is in supermarkets, 28% is in warehouses/industria The average interest rate payable on VIP's debt is 4.0% (93% fixed), with an average maturity of 6.9 years and a 36% Loan to Value ratio." If I was going to quibble, I'd say that for all the good dealing/lack of voids/strong tenants/fake inflation linkage, they're still seeing valuation declines and failing to outperform the index. And that any IT with low debt cost is going to eventually hit a bump as debt costs ratchet up - ZIRP is over. Income rises at the same time, but EPS may not. They're not expensive - but are they the best property pick out there currently? |
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