Warehouse Reit Share Discussion Threads

[apollocreed1] 07/3/2024 17:25

Anyone think that this could possibly be a takeover target by Segro? Or might they prefer EBOX?
Is the debt higher on WHR or on EBOX?

[igoe104] 01/3/2024 09:43

Decent numbers by bbox today, this sector is completely well over sold..

[sleepy] 13/2/2024 09:27

Or to pay dividends???

[nickrl] 12/2/2024 21:33

guess they will use proceeds to hack off a portion of the uncapped element of the RCF

[bathcoup] 12/2/2024 21:33

selling at a net initial yield of 5.3% - they're desperate for cash?

[bathcoup] 12/2/2024 21:25

disposal of two assets above the September 2023 book value (no IRR's given):

[purplepelmets] 12/2/2024 07:43

Not if shareholders get any say in the matter

[igoe104] 12/2/2024 07:21

Consolidation in the section with Bbox gobbling up UKCM..

[nickrl] 22/1/2024 10:50

@Sleepy total agree all of them tell you the positive side never anything negative. Anyhow despite the impressive asset mgt metrics for this qtr over the first 9mths that has translated into less than 4% growth in NRI so they are way off covering the divi. Maybe the valuers will give them a boost come FY results that give them some capital growth to neutralise the fact that the divi remains well uncovered. The fact LMP are seeking diversify through LXI acquisition suggests that this sector is going to be the place to be for a few years.

[sleepy] 22/1/2024 09:44

Would be even better if they confirmed no increase in vacant property

[qs99] 22/1/2024 08:13

Decent update DYOR

[makinbuks] 20/12/2023 14:31

Looks that way, helps the NAV calc and improves operating performance through easier refinancing

[qs99] 20/12/2023 13:50

Peak interest rates hopefully, should allow this to trend back over £1....DYOR

[qs99] 27/11/2023 12:14

Really nice vote of confidence IMO.DYOR

[skyship] 27/11/2023 08:40

The Board of Warehouse REIT announces that on 24 November 2023 Tilstone Partners Limited (the "Investment Advisor") acquired 592,038 ordinary shares in the share capital of the Company at a weighted average price of 83.7 pence per share for a total cost of GBP500,000.57.

Following the purchase, the Investment Advisor and its directors have an interest of 27.77 million ordinary shares, representing 6.5% of the Company's issued share capital.

Simon Hope, Managing Director of Tilstone Partners Limited said: "This purchase demonstrates our commitment to and confidence in the quality of Warehouse REIT's assets. Given the attractive return prospects we see in the business and with shares trading significantly below replacement value we see this as a very compelling investment proposition."

[nickrl] 17/11/2023 22:14

@makinbuks way off covering the dividend and they really need to cut it imv. Certainly they are seeing good levels of rental growth but even with all reversion captured they wouldn't cover the divi. Yes disposals are at a profit but each one gives away rental income and running with this divi level is just adding further to debt load which will be on the uncapped element currently. Not sure of the logic on extending the debt at this juncture either as that just added loan arrangement cost for no improvement in margin just slightly better covenants which already had headroom. Anyhow probably has takeout potential that will give it support.

[makinbuks] 15/11/2023 09:37

Big change of direction at Radway. Pre let fell away and now up for sale. Probably the right decision but this statement is putting a brave face on what must be a big disappointment for the managers.

Good progress on ERV's, its all about covering that dividend now

[igoe104] 15/11/2023 08:19

Surely these reits will now start narrowing the discount between the Nav now that inflation is falling.

[igoe104] 14/11/2023 15:01

All the reits are up, wouldn't mind betting lots of American inflows, picking up uk bargains..

[qs99] 14/11/2023 13:33

Nice bowl forming on the chart, let's hope it can get itself back above £1! DYOR

[spectoacc] 28/10/2023 17:00

Thanks @nickrl, you keep up much better with all the REITs' debt positions than I ever could.

Below 70p looked a buy, but of course I didn't do it, and there's so many choices out there now.

[nickrl] 27/10/2023 22:44

One of its smaller hedges (30m) roll off next month leaving 75m of the 275m at a IR of 7.38% which is why they are pushing on with disposals but that further drives down NRI leaving the divi well uncovered currently. They will have to load up the RCF further if they commit to the Radway development so be interesting to see what they have to say about that at HY in a few weeks.

[spectoacc] 26/10/2023 10:07

So many other options, but WHR is surely getting within range down here.

What's it worth in a recession..