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I bought this as a long time dividend play, so not that concerned about share price (as I plan to reinvest divis). But I am curious if anyone has any insights on why the share price has gone down as of late.
Thank you
Down a bit from Fridays close, but still holding above the 80p mark... which is good and bad depending on if your still topping up on them!
Had hoped that there was news on the asset purchase / reinvestment front as that would be more weight behind an increase in divi.
Might be the uncrossing trade. See what opening price is on Monday.
Anyone got any idea for todays closing share price jump...? Whilst i personally think the SP has been low, i thought we might have seen a slight drop with the Interest rate increase...
Noticed this comment too Dusty42...
Also comment on not increasing Divi until the funds from the office sale had been reinvested...
Prudent move but in conjunction with this comment, it has me hoping that a purchase is made soon and the divi will be increased in the coming months...
Another good REIT worthy of reinvesting dividends monthly whilst at a discount.
I note the IoM Govmnt bought in recently, via a local broker.
"The Investment Manager is well advanced with the reinvestment of the office sale proceeds and announcements on acquisitions will be made in the normal way as and when contracted."
Sounds encouraging to me, hopefully some more news flow in the not too distant.
Looks like it must be the discount to the Nav that's driving this share upwards . Monthly dividend and capitals gains! Glad I bought in earlier this year
Taken from HL site Estimated NAV: 95.93 Premium/Discount: -18.48%
A big move on Epic today, any body know what caused ?
Almost half the 3.45% figure comprises finance costs i.e. the cost of borrowing . “Ongoing charges” in the latest annual report, which do not include finance costs, are 1.4%. With gearing at 35%, it’s not surprising finance costs are significant.
Cheers
C
hummmm... thanks Trek for pointing that out. I bought 5K GBP as I was looking for Reits that made sense to me.
I do not know how I overlooked that cost point, I can not remember having seen a cost that I thought abnormal.
This is what I got from HL and the FT when doing a little research :
https://markets.ft.com/data/investment-trust/tearsheet/profile?s=EPIC:LSE
https://www.hl.co.uk/shares/shares-search-results/e/ediston-property-inv-co-ordinary-1p/share-research
I guess I need to up my due diligence, as I see in another part of the HL website that costs are 3.45% similar to your factsheet of 3.55%
It makes no sense to me... I might need to write/call them to get some more clarity
Hi how do the costs impact this. Surely this can’t be right £355 for each £10k invested (3.55%). That’s a huge chunk of the 6.43% yield (google finance)
https://www.fundslibrary.co.uk/FundsLibrary.DataRetrieval/Documents.aspx?type=packet_fund_unit_doc_priip_kid&docid=4b80e7e9-4c0d-469e-b253-ed28b9494d89&user=f6hJ47zYjMq2yu3ynygFCy7X9ogBuGZEWHz5Z6BJGq8%3d
Usual caveats,
Trek
Don’t see how you can go wrong with this, 0.5% per month div, significant discount to NAV, possibility of capital appreciation, buy some more if it dips with market sentiment.
100% underrated... i'm like Risk... started buying in at the £1 mark and topped up as they dropped... started to sell off when they went over the £0.85 mark (just to materialise some of my gains and spread my risk), but started buying again below the £0.80 threshold. Divi is good and market expectations is they will increase this when they have secured property from the office sale... fingers crossed its sooner rather than later...
I'm in with you Slik, been in here for quite a few years, started at round about a quid and was happy with the div - Then bought on the way down and now adding on the very gradual way up - I'm even happier with the div now
Excellent RNS, underrated by the market, I’ve added today on this basis.
An RNS has been released today which includes an updated NAV.
V. Good trading update in my view.
https://dailybusinessgroup.co.uk/2022/04/glasgow-offices-and-retail-units-bought-in-16m-deal/#!
Bit of new office space and retail.
We need the funds from the sale of offices reinvested before we see any appreciable growth in NAV, Share Price or Dividend
Epic update their NAV's quarterly... so they were reviewed in Sept 21 and reported in Oct 21, then again in Dec 21 which was reported in the trading update in Feb. They have again been updated this March which we should get an update on them shortly (some point in april).
The company investors page shows that the other NAV announcements will be in July and Oct...
Please excuse this question if it is really basic stuff, but I notice a lot of REITs have their last 'actual' NAV as 31/12/21. Looking at EPICs accounts, this was declared in February. Is there a given date on which the new NAV for Q1 will be declared?
Office sale now complete... and to quote Callum Bruce "Good progress is being made in identifying suitable retail warehouse assets to acquire, which will provide the Company with an attractive level of income"
Here's hoping for that elusive dividend increase that's been muted for a while...
Operastar - I invest in a number of REIT's and all operate with a "level of debt" - It's par for the course with REIT's big and small. As long as the debt stays within a sensible range and is not being extensively used for dividends, it only warrants a cursory glance.
Thanks for your input Tim Bob . All very good points for a newcomer to this area of investment. You mentioned devaluation of property which does happen in times of economic stress which is why I mentioned "negative equity" as a well known example of a risk factor in this area ,but then all investment has risks of course. You just have to factor that in.
Current Debt % is only marginally above the companies target of 30-35% (currently 37%). This is mainly due to the de-valuation of the property portfolio over the past 3yrs (its was in a healthier position prior to COVID)... I suspect this is why the board hasn't been overly concerned with debt being above its % target; a single year of 5-6% asset growth would put them back into the target zone...
EPIC focus' more on Retail Warehousing, which seems to have been tarred with the same brush as High Street Retail... In my opinion the assets have been de-valued too much and the real NAV is higher still... With a healthy dividend yield and cover, its a good buy... If your looking for long term growth; reinvest the monthly divi... if you want an income, you get a little bit every month (so you dont seen too many price spikes when they go ex-div like some organizations).