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Why the drop?
I was also wondering. Found absolutely nothing so topped up at 141 then watched it keep falling.
Is it possibly just general REIT weakness due to rising interest rates?
£500 portfolio of 18 Sainsbury Stores at 5% yield with potential share issue at 142p.
Makes it a buy at 138p for me.
£500 million.
On a 52 week low now ?
Its a bit nuts isnt it ?, this is not what I expected after the announcement of the Sainsbury's deal.
Surely there must be a reason, with a divi and a sainsburys deal in the bag, why would it fall...... unless people know something about these sainsburys properties !! Are they all based on Fracking sites ?
SHare price fall might suggest they are struggling to raise the £500m at a small discount to the share price of a couple of days ago, prior to the news of the Sainsburys deal.
Can anyone here decode the Blackrock trading activity around 11am yesterday (see most recent RNS)? Looks like some CFDs opened amongst other things. I'm trying to understand if/how this surprise price drop is related. Thanks
Share holding reduced by 0.02%. Short increased by 0.01%.
That's what I thought but thought I'd check as surprised to see shorting on this stock. The new issue at 142p to pay for the Sainsbury deal suddenly looks shaky. This has come out of nowhere for me. I thought this was a relatively safe bet for diversified property income without risky office rental sector exposure. I just don't get it.
ASLI is trading low as well, possibly all REITs being hit with inflation concerns, price does not matter short term as long as dividend continues
Presumably the Sainsburys deal not proceeding is the reason for the 20% drop in shareprice along with current national issues.
I think its actually the other way around - the macro issues, in particular interest rate expectations, caused the SP to tank 20% (same as most reits) which led to the Sainsburys being cancelled.