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that should help the sp
something we dont down 4% on no news and yet nrr up nearly 5% i guess there may be a red dot in the morning.
Thank you Gerry for your words, appreciated my friend.
Yes did look into the share before my purchase years ago, but just seems to nudge down slowly all the time. Think maybe the retail sector needs to be moved away from to more office space. Not sure I would do a REIT again.Did also purchase in London & Associated properties and feel in time this may be better.
Thanks again and good luck with all your investments buddy!
Sorry that should have said - picking up the div.
Wrightyboy - I'm guessing you completed detailed research before your buy in.
Have you been holding long ?
What did you see as the positives when you bought in.
I'm guessing you are thoughtful as to the retail proportion of the portfolio, which RDI has been managing, with constructive plans, to reduce exposure to retail arcades.
What are your views on the majority of the rest of the portfolio ?
Hopefully you are not down too much on this one, but if it's part of a balanced portfolio, and your investment timeframes are medium to long term, I guess it's a case of parking it, and pick up the five.
Certainly rdi have an interesting 6 months ahead of them. Personally I'll keep a watching brief and review in the autumn.
Good luck with your future investment decisions
G
Looking at these results no wonder there was no offer!!, this is a poorly run company now, and have let shareholders down.
No offer. Details on company website.
Put up or Shut up day today. Seem to be a very small gang of us following this share - a best kept secret or just unloved !
Morgan Stanley Takeover Code 8.5 disclosure.
https://www.investegate.co.uk/article.aspx?id=201904230700047066W
The sp has bounced around a bit, dropped on the close yesterday then back up again this morning.
News one way or another can't be too far away.
G
Try again - spell checker intervening.
finanzen.ch
**Correction - source is financed.ch
From a Swiss website finanzen.com yesterday 17/4 at 14.17 a disclosure that Cromwell now own -
(1) Relevant securities owned and/or controlled:
164,658,952
7.38%
I’m not sure if this was generally known but I believe it shows Cromwell buying shares which would seem to confirm the seriousness of their bid.
Nice rise today - think I'll hold fire !
Whitelye - my initial thoughts when the press speculation was confirmed, was that I was comfortable as things stood, with RDI progressing its plans, over the coming years.
At the moment the Mcap stands at £591M, which is at a discount to the Net asset position in the most recent Annual accounts - £862.80M, ( all valuations are subjective I accept ).
I'm unconcerned with a no bid situation, iI'd be more thoughtful if a low ball bid.is introduced, Unless that in turn created a biding war.
An offer at £2 is very roughly equivalent to the NA value in the last finals. I'd hope for a premium above that figure.
As you say it's only a few days away from news on this, are there any other thoughts and views out there ?
G
All very quiet here with just a week to go until "put up or shut up". Tempted to sell half holding in the event of there being no deal, price does seem to be inching up a little. Any thoughts anyone ?
Sorry just checked the link - from "portfolio" click on - Market value by sector.
G
Hi Texas - similar to many i guess i have been buying as the sp has dropped over the last couple of years and with reinvesting the dividends, i'm at an average of around 1.51 on news sp figures.
I'd be hoping for a min of £2 per share, but as CJ66 suggests, i suspect Cromwell may put in a low bid offer. It doesn't look like the bod of RDI were expecting an offer,they looked like they were just getting on with business, until the approach came.
I note the concerns around retail, though i feel RDI have been taking steps to reduce its exposure to pure retail.
I was encouraged by the move into office space in London in particular, and its hotel portfolio is very strong.
The chart below pulled from its website gives an overview, of its portfolio.
https://www.rdireit.com/portfolio/income-characteristics
It will be interesting to see how the sp reacts, over the coming days and weeks.
It's a watching brief for me
gla
Rumours are at around £1.80 to £1.85
This is good against the pre bid price, but pretty miserable depending upon when you brought the shares (even allowing for generous dividends). I.e £1.90 last March / £1.95 March 2017 / £2.35 Mar 2016.
With a hotch potch of assets including falling retail ones - the results in April indicate a lower NAV and dividend cut.
I'm afraid this all points to Cromwell buying it on the cheap looking longer term as it doesn't seem to have done much wrong in a difficult market, but the high yield doesn't seem to have kept up the share price - therefore it looks curtains to another nice long term dividender to me!
My Current average is around 1.75 Historic dividends have been very good, I wouldn't want to let this go for anything less than a fraction short of the NAV price
Hi Gerry. Not to sure what RDI would do. Their share price is undervalued and I think it would have to be a good offer. On the DigitalLook website RDI'S NAV is £2.27 My holding is currently down, but I have enjoyed plenty of good dividends to make that up. What's your thoughts.
so 2 rns out to confirm rumours.
Cromwell Property Group had approached rdi with a possible offer for rdi.
no price mentioned.
Cromwell have until 23rd April, to announce a firm intention.
interesting times.
gla
Retained earnings to reduce leverage due to falling retail valuations and a further update in due course. So, yes, it looks like a divi cut is on the cards. However, this seems to be prudent and should pave the way for increases in divis once things settle down, so perhaps a buying opportunity for long-term investors.
Am I reading this incorrectly or is there an implied reduction in dividend (distributions) at the final results announcement buried in the text ?