Warehouse Reit Share Discussion Threads

[apollocreed1] 17/7/2019 11:39

@riverman77-I agree that Hansteen is already invested and on a larger discount, but it's worth bearing in mind the currency risk if the pound strengthens against Hansteen's Euro holdings. WHR is only UK focused. Although Hansteen is on a larger discount of 11% to WHR's 6%. What do you think of Stenprop who are industrial focused but on a 19% discount?

[riverman77] 17/7/2019 07:28

Not sure why you'd expect this to boost share price - seems to me they're trying to expand their portfolio in an expensive market. I much prefer companies that already own the assets, eg Hansteen.

[bathcoup] 17/7/2019 07:18

Still the share price shows no sign of life.

[igoe104] 17/7/2019 06:36

Warehouse REIT enhances portfolio with two new acquisitions

Warehouse REIT, the AIM-listed specialist warehouse investor, announces the completion of two new acquisitions as it continues to grow its portfolio of high quality urban warehouse assets, following the successful capital raise in April creating over £120m of acquisition firepower.

The acquisitions comprise a warehouse property in Chorley, Lancashire for £3.60 million and an industrial warehouse premises in Doncaster, South Yorkshire for £1.68 million, extending the Company's current holding at the same estate. The two separate transactions are in line with Warehouse REIT's strategy of acquiring well specified warehouses close to conurbations, arterial routes or transport hubs, with the combined acquisition prices reflecting a blended net initial yield of 6.8%.

The Lancashire asset is the larger of the two acquisitions at 47,500 sq ft. The modern purpose built warehouse unit at Eaton Point is in the well-established distribution location of Chorley being just one mile from the M6 and 27 miles north west of Manchester, with numerous national warehouse occupiers operating in its immediate vicinity, such as Waitrose. The property, which has recently undergone a complete refurbishment, is let to an established manufacturing business as their distribution centre, generating a net passing rent of just over £260,000 per annum and has 4.5 years remaining on the lease.

In its second acquisition, the Company has purchased Units 1 & 2 of the Delta Court estate within the Sky Business Park in Doncaster. This transaction increases Warehouse REIT's holding on the popular estate, where it already owns 36,000 sqft across 6 units and has enjoyed strong performance to date. The asset comprises over 20,656 sq ft of modern industrial warehouse space with roller access doors, two-storeys internal offices and generous parking provisions. The acquisition formed a sale and leaseback with a sign production company on a new 10 year lease with a break at year 5, off a low passing rent of £5.81 psf, which compares favourably to lettings that the Company has recently achieved on the estate. Sky Business Park is situated with easy access to the M18 motorway and adjacent to Doncaster Sheffield Airport where cargo throughput tonnage increased by 42% last year, reflecting the growth of Doncaster as an important UK distribution hub.

[spectoacc] 04/7/2019 15:05

Sorry @chucko1, you're right - I misread Investec as Invesco, and made the assumption re Barnett because he's in so much junk with Woody.

[chucko1] 04/7/2019 13:47

Sorry, but it might be the hot sun - does Barnett own any of WHR? Bloomberg says not, citing Investec as a 24% owner.

[cc2014] 04/7/2019 12:56

I'm interested to understand why Woodford thinks 5% instead of 3%. Maybe there is a reason but with Woodford it could just be incompetence.

[spectoacc] 04/7/2019 12:48

Now wondering if Woody wasn't actually obliged to notify the sale - is WHR under different rules? Usually it's 3% (1% for a bid stock), but the "Under 5%" notification from 4th April implies that under 5% doesn't require an RNS.

If so, Barnett could sell 5% (erm, about 12m shares?) without having to tell the market.

[ec2] 04/7/2019 10:52

Topped up my holding today on the weak prices. I must say that I find these difficult to pick up other than in small shapes.

[chucko1] 04/7/2019 08:19

@Spectoacc, I would go with that. WHR got splatted on one or two particular days around that time. Easy to buy then, though not at a huge discount (even at bid side), but on WHR, 2-4% is worth having.

It may well be the case that the continuing small lurches are due to Barnett selling. I will see if Bloomberg can shed any light on that. They get company holdings and changes from a variety of sources, but as you say, can be slightly inaccurate on occasions.

[spectoacc] 04/7/2019 08:02

Bloomberg view would be handy, tho they're not always correct either (even for the money!).

I note WHR's own website, to 30th April, shows Woody at 8.42m shares, 3.5%. That fits in with the "less than 5%" RNS from 2nd April, tho there's nothing subsequently, and nothing to show that the big sales of 11th June were his:


Investec 24%. My guess is - Woody's long out, but is tardy with reporting it. And Barnett's the one now selling a few, under redemptions pressure, but either less than crossing 1% reporting threshhold, or yet to report.

Edit - I'm now certain on Woody. He held 8.42m as of 30th April, as per WHR themselves. This is what sold on 11th Junen Therefore he's all out as of 11th June.

4,000,000
4,420,000

[chucko1] 04/7/2019 07:44

I’m pretty sure he had plenty until recently.

1. It was one of his stated holdings via his monthly (end of May, if I recall)

2. Pricing action on WHR (as well as NRR, BDEV, TW., AUTL) on certain days suggests a quick seller.

I’m getting someone to check the Bloomberg view on this - he’s out of the office right now, though.

[spectoacc] 04/7/2019 07:33

Interesting, thanks. FT shows him as having c.5% on 2nd April. Then there's this on 3rd April:


So "Less than 5%" could indeed mean he sold the lot, 2 months ago, and hadn't updated his "..To 30th April.." stock holdings list.

[bathcoup] 04/7/2019 07:23

According to hxxp://www.investorease.com/company.php?disp=share&epic=WHR
as from 02-04-2019 Woodford Investment Management no longer has a stake.

[spectoacc] 03/7/2019 14:14

Hmm I had it in mind he was out - trades about 11th June, 10m at 100p. But now I look, I can't see a Holdings RNS?

Edit - it was 101p, across 4 trades, reported 11th June. Hasn't been any Holdings RNS from anyone. So now you've got me thinking Woody may still be in the lot? And hence our continuing weakness.

[chucko1] 03/7/2019 13:10

Do we know how many Woodford has left?

[spectoacc] 03/7/2019 12:46

Not sure why we're drifting - lack of news? Woodford out the way.

[ramellous] 21/6/2019 14:42

Yes that’s right. Although if like me you have a sipp with ii, then the tax comes off at divi payment date and they claim it back next April and I wait till next October to get it back in my account... Apparantly..

Can someone have a word 🙄

[quickmind] 21/6/2019 10:58

ramellous - thanks!
If the shares are held outside a tax shelter, then, I suppose, only 1.2p per share is paid out, the rest being retained as withholding tax.

[ramellous] 21/6/2019 08:19

1.5p is what you are entitled to.

[quickmind] 21/6/2019 07:54

A question about withholding tax on PID: is the 1.5p dividend paid, for instance, on 29 Mar 2019 net of 20% withholding tax?

Practically, I have WHR shares in my ISA; should I receive 1.875p (1.50 + 0.375p withholding tax) or 1.5p is all I'm entitled to?

[ramellous] 19/6/2019 15:01

Annual report out.. steady as she goes..

[spectoacc] 11/6/2019 15:47

Lol yes. Only a handful of "decent" shares in either WEIF or IFF (& arguably none at all in WPCT). WHR (& OCI, & maybe NRR) are 3. Some (if it comes to forced sells, as it should) I'd buy at the right price, but can't really describe them as "quality". Not sure what price I'd pay for KIE or PFG for eg, & wouldn't touch a single one of the unlisteds nor the "dead" shares like EVE, RM2.

Think Woody's dire 1, 3 & 5 yr performance record says it all.

[chucko1] 11/6/2019 14:40

Someone with good taste!

[spectoacc] 11/6/2019 13:26

Good news if he's out - wonder who took them.