Warehouse Reit Share Discussion Threads

[makinbuks] 08/11/2022 11:51

I'm a bit concerned by the rise in LTV and how much this will be affected by the commitment to existing development properties.

Not sure why you conclude the yield is safe when it is uncovered this period and on a cash basis only covered including asset sales

With the market effectively closed to raising new equity I wonder if there might need to be a dividend cut to keep the LTV under control

[qs99] 08/11/2022 08:07

Interesting read, looks well positioned IMO to "weather" any economic storm & continue with yield. DYOR

[qs99] 01/11/2022 09:03

Results next Tuesday, nice to see shares creeping up ahead of the update. DYOR

[nickrl] 19/10/2022 21:00

@skinny incredible increases on forecast ERV's is worthy but i wonder whether they would get the same deals in todays environment. Anyhow locked in rent always helps.

[qs99] 13/10/2022 12:59

Agreed, have bought some more today, looks silly price given occupancy and demand for these sorts of buildings. It is not highly leveraged either. DYOR

[riverman77] 04/10/2022 13:44

Up 15% since adding here a few days ago. Still on a roughly 30% discount so will probably keep hold of this for now - nothing obvious to switch into as most property and infrastructure names have rallied since last week.

[nimbo1] 29/9/2022 15:46

yes it is panic - panic that the risk free rate is 5% and you normally value off 5% risk free rate + 3% or something like that...

Prices can go a lot lower...or they can stabilise and rebound if gilt yields get under control.

[jdh1602] 29/9/2022 11:51

The selloff in all stocks/trusts connected with property smells like a panic to me. Even infrastructure trusts have sold off, but yesterday at peak fear, there were some big bounces in the latter..see HICL and JLEN

[qs99] 29/9/2022 11:36

if you think the world is going to end and UK economy shrink by 50% then no WHR is not for you, however, as I say above, long-term, this looks an interesting opportunity given the massive crash in the share price when it is not over-geared IMO....all depends on whether you think prices are going to tank and its rental roll will do likewise....DYOR

[riverman77] 28/9/2022 14:43

Seriously though, long gilt yields rallying today after BOE intervention and some REITs also up. WHR fallen further than most and not reacted today so could be a buying opportunity.

[riverman77] 28/9/2022 10:58

Any reason for the recent dip?

[nimbo1] 28/9/2022 10:55

Property prices have already crashed - ask fund managers in the actual market. Plenty of distressed sellers appearing q4

[qs99] 28/9/2022 08:04

Their leverage ratio is low is it not and they have hedged 75% of their debt, interest rates are forecast to start dropping again 2024/5 so I'm surprised at this massive sell off no? Unless you think property prices are going to crash? DYOR

[nickrl] 27/9/2022 20:39

They've been buying at sub 4% yield with reduced opportunity i would suggest for rental increases now so whilst they have cheap debt for a few years the medium term may not look so rosie if interest rates don't drop back by 2024.

[sleepy] 27/9/2022 16:00

How are they going to pay for the £35 million development in Thame?

[nimbo1] 27/9/2022 15:04

I can - if you can get risk free rates of 4% perhaps moving even higher what do you need to own commercial property in a recession? Perhaps 8%?

[nerja] 27/9/2022 09:40

Wow just got a price alert on this, can’t believe the fall here, got stopped loss out at 141p ,never thinking it would fall this far, nothing seems safe at the moment.

[jdh1602] 24/9/2022 17:44

When markets go down, anything with risk gets sold off hard - sell first, ask questions later! Kill or be killed! This time, i'm dead as a dodo, I owned both WHR and the ABRDN fund.

[earwacks] 24/9/2022 11:42

Nearly at the placing price of 2 years back. Seems a bit overkill. Maybe a bit too closely aligned to online retail.Can they maintain the dividend? SUpr also in bargain territory going from nav premium to 7percent discount.

[jdh1602] 23/9/2022 11:17

Check out ABRDN Property Income Trust - also smashed, 20% down in last 2 weeks, now trading at a BIG discount to NAV

[sleepy] 23/9/2022 09:16

Thanks alter ego.

WHR are down16% in 10 days. Are other REITS down that much?

[alter ego] 22/9/2022 15:41

All the REITS are down. worries about lower property values. it's not just wHR