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Agreed that we have been hit by a “small” inflationary impact, but at this price I can’t see any issues in the medium term. We should also benefit b from the strength of the USD. They were confident enough to run the buyback scheme even during uncertainty.
What they mean is that revenues go up to some degree due to inflation, but not as much as inflation. In other words, they go up less than inflation, which means they fall in real (inflation-adjusted) terms. The so-called "positive impact" is only in nominal terms, not real terms.
It's like when you receive 3% interest on your savings but inflation is running at 5%. You're falling behind at a rate of 2% per annum.
Last annual results update.
“Approximately half of SEEIT's current portfolio by value has revenues that are partly or wholly inflation-linked, which culminates in an overall positive inflation correlation. Therefore, higher than expected inflation has had an overall small positive impact on the Company's returns during the year”
What does "run out of money" even mean? Oops, the piggy bank is empty?
At the last update, SEIT had cash on hand, gearing not high, dividend covered 1.2x.
That said, I'm still not buying because I think it's vulnerable to inflation, and I'm trying to hedge against inflation. But at this price I'm sorely tempted.
Complete and utter rubbish comment!
Do you have the right company!!!
SEIT has run out of money, SP is falling like a stone with continuous new all-time lows. No telling what will happen to this company, AVOID.
Mentioned in midas in the daily mail, usually the kiss of death as their track record is shocking bad - but they keep on reminding everyone of the 2% winners.
My next SIPP holding in the next month.
Recording of the Capital Markets Day
https://youtu.be/591zhKpAO3U
This article relates to manufacturers Siemens and GE. Nothing to do with SEIT imo.
So I started selling my reits a few weeks ago and sold the rest of my reits as well as this today, obviously at a loss today. I’d still buy back in when the drop is done.
My view is that reits , or reit like ITs, will get hammered until the dividend yield is a margin above expected interest rates being the risk free return.
...and it's dropped a lot more since. Huge fall from the 114p book build and no RNS. I know a number of clean energy trusts have fallen but none like this. What's driving it?
I don’t get this drop? Good sector with many assets in the USA,benefiting from generation of sales in USD as a bonus.
Can anyone tell me what I am missing?
Hi teamwork86,
Thanks for the explanation/insight into how the process works.
Evidently it's gone well, with more capital raised than originally announced. My only slight surprise was that, given the high demand and the need for scaling back, the issue price was "only" 114p from the 113p to 117p range; however, your post goes to explaining how that has happened.
I personally didn't subscribe to the Retail Offer. That was after very careful consideration taking into account the behaviour of the market price, and how "messy" it could get, given that I like "round" numbers of shares in my holdings, with so many variables (unknown price, unknown degree of scaling back, etc), and with the relatively small number of new shares I was looking for - I was hoping to top up my existing holding by about 15%. I actually bought what I wanted in the market late last week at just over 114p so didn't do too badly and now have certainty.
All the best, Mike.
I hope you subscribed. It went well in the end.
The company does not choose the price it will sell shares for in a bookbuild. They call up the large institutions and ask these institutions what price they would be willing to pay for a large block of shares. After canvassing a few institutions and getting a general idea as to what price they can achieve, they then announce the bookbuild and their broker calls these institutions to commit.
Presumably it's because the price will match that of the wider book build and that would be expected to be at the lower end? That's all I've got...
Well I must be one of the lucky ones who has been offered the opportunity to subscribe for shares at a price to be decided by them after the event...
Am I missing a detail here? Why would I want that?
Obviously NOT. Only three brokers participating.
Slightly disappointed in these: noticeably underperformed the market this year, even if up 6% on my purchase. Still happy to hold for the decent divi and prospects of capital growth.
Sold a fifth of my (now very overweight) Segro holding and picked up 21k of these at £1.07, decent ~5% income, strong nav, decent prospects for growth (I hope). All safely tucked up in the ISA.
Playing very much into SEIT's bread and butter...
https://www.reuters.com/article/us-usa-climate-business-idUSKBN29O2JN
This looks a decent place to park some cash over the long term. Clean/green energy efficiency is a trend that isn't going away for the foreseeable. Management team seem to have their fingers on the industry pulse too. Decent dividend.
...with a nice safe ESG friendly income stream when interest rates are pants and in danger of falling down!
Building all the time a diversified sustainable portfolio. Good stuff!