Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
To provide shareholders with an attractive level of income together with the potential for income and capital growth by investing in a diversified portfolio of UK commercial property warehouse assets.
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Update, technical weekly chart, revealed the 1/1/24 price bar, made a new high, but then closed, below the close and open of the rally week, two weeks previous. The intervening week bar, was a small high/low. The 1/1/24, week price bar was a potent rejection of higher price movement. My previous comment price targets, are no longer relevant. DYOR.
Also Goldman Sachs has recently urged investors to stop shorting UK property stocks. Is having a positive impact here. Falling interest rates key driver
Sp, targets are 100.6 and 120. Sector chart and WHR, are displaying bullish rising pivot breaks . Positive divergence in the RSI(relative strength index) confirms the bullish chart position . WHR, sp, is above the major, falling down trend line, which is in accordance with the overall upward trend, now happening.
The Key words are "Like-For-Like", some properties were sold, so (very rough maths, not data pulled from the RNS other than start and finish):
Portfolio Was: £828.8M
Sell properties (£25.5M)
L-f-L gain 1% of remaining portfolio £8M
Portfolio IS: £811.3M
So portfolio goes down, but the bits they kept went up, so no, not error,
I in the RNs today I read:
"Like-for-like portfolio valuation increased 1.0% to £811.3 million (31 March 2023: £828.8 million)."
Surely this maeans that the valuation dropped from £828.8M to £811.3M!
It dropped by £17.5M. A 1% increase? my backside.
As industrial property investment yields move further North there is only some aggressive letting of voids they can do to improve the case .
Acutely aware that it only takes a minor shift in yield to give market values a good hammering
Last time around the houses in 2009 prime yields moved above 9% Once they dipped below 4% there was always going to be a correction
Maybe 12months down the line the ex Hansteen duo might cast their eye again if still got the appetite
And the plan is?..
I don't think that selling off assets to fund executives is really the right way forward.. 🤷♂️
Nice RNS. Slowly executing their plan, and at an 8% yield looks good value. All IMHO.
So a few pieces of news recently. Invested have upped their stake to 21%, and we've just fallen out of the FTSE 250. Reckon they took the opportunity to mop up Tracker enforced sells at a low level.
Interest rate decision tomorrow. If it stays at 5.25% we could be trading over 90p soon. If it rises perhaps back sub 80p. Let's hope the BoE and their Tory mates see sense. They are slowly killing the economy.
Nice to see the divi being maintained. Specifically like the low interest rate they have on most of their debt now, far better than some peers. Also with the different between debt and property valuation this seems like a good buy. Obviously just my opinion, but I have increased quite a bit recently.
Wow - now broken under the "Loony Liz Low". Gotta think it's a buy even if they cut div a bit.
The divi looks like an illusion; just 74% covered; company needing to sell more assets, which will further trim EPS.
Must confess, didn’t see it getting this low. But with interest rates pushing higher it became inevitable I suppose. Hopefully this won’t be the thing that breaks as interest rates go higher!
I will buy some next week, at 80p a great price….
Yes… but only on the valuation of the portfolio. Worth remembering the % increases over previous years:
Like-for-like valuation change
2019: 4.3%
2020: 2.5%
2021: 18.8%
2022: 19.4%
2023: (18.5)%
So we are back to approximately the value of 2021. But the sp is much lower reflecting current fears of more interest rate rises (possibly) and the threat to the divi. Pray that interest rates don’t go much higher!
I’m a fan of high divi REITs, but WHR lost 174 million pounds this fy (looked at HL financial tab for WHR). Perhaps things will improve, but new buyers beware, this could go to 80p.
It was a typo - see the third RNS today which says:
The register and ex-dividend date for the fourth interim dividend in respect of the year ended 31 March 2023 was incorrectly stated in the above announcement as 1 June 2023, the correct register date is 16 June and ex-dividend date is 15 June 2023.
Which, given the drop today, would seem to be a good time to do a top up if you intend on holding this long term.
Today's results say "A fourth interim dividend in respect of the year ended 31 March 2023 of 1.6 pence per share will be payable to shareholders on the register on 6 June 2023. The ex-dividend date will be 1 June 2023."
The ex-div date and record date seem out of kilter, but the main thing is that they are announcing a dividend with an ex-div date before the announcement - I didn't know/ think you could do that, or have a missed an earlier RNS with the above details?
Quite. Recently topped up. Just can't understand the recent fall in share price.
Good update
They have never done a 3rd quarter report. Not sure where you are getting the idea they are overdue one.
They have, in previous years, released a trading update around this time but thats only required if there is significant difference to the predictions for the year. If everything is going as expected then its not required.
The next update is the final results at the end of May. NO reasone to be concerned that I can see at the moment.
I guess not! Steady buying over the last week. Shorter closing? Possible buy out? Plus quarterly results overdue 2 weeks. Call me suspicious LOL
Overdue on 3rd quarter update? Anyone know why?
Good news on the lettings, showing that businesses still need space and Warehouse REIT can still get their moneys worth in rent!
Bargain price at the moment.