Schroder Eur.r Share Price (SERE)

The chairman's comments in the overview on the half year report has me concerned that this REIT will likely follow the trend in the sector of winding down, all to do with the huge persistent discount to NAV.

"Despite no formal notice to terminate the lease, we believe KPN may vacate the premises at lease expiry"

This also concerns me because they are the REIT's biggest tenant, accounting for 18% of the contracted rent. Hopefully, the fund manager can get this issue sorted as soon as possible because otherwise that juicy dividend is going down along with the already depressed share price.

Bearing in mind the disclosure from 18th December which acknowledged that the company could be on the hook for up to 14.2 million euro, however unlikely, would it not be a tad prudent to hold off on buy backs until the french tax office gives the company the all clear.

Not usually a fan of buy backs...but hopefully this will sort out the discount to NAV.

good % of outstanding shares will be bought.

Looks like somebody got mixed up with the June 23 Divi reduction. Article has now been corrected to not state divi reduction, see:

https://www.lse.co.uk/news/correct-schroder-european-real-estate-swings-to-annual-profit-8pl1oopttg5pztf.html

If that's the worst news we get from these guys over the next year, they're the most amazing rocket-scientists in the whole industry!