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Liontrust (14%) and Octopus (2%) have spoken out against the takeover, but given the US actions they should change their minds. They would be daft not to! (13% to be made here?).

The rate is 8.06%, so yield is c6.6% at this price. The company only exists to service the prefs, so little chance of it being dumped.

"Surely these can't go much lower": famous last words!!!!

You could currently class this as a "value trap" but NAV is c150p, and as tmnky says, the dividend is covered (if only just!). All similar trusts, and REITs in particular, have been hit by unexpectedly high interest rates. Management here have generally been pretty astute though, and I will continue to hold. I had a "buy" alert set on this for 119, so started buying then. I have added a few more since.

FWIW there is now no support until the 190s.

The devil may be in the lack of detail! There is no mention of profit figures, and the proviso is made that "cost guidance" will only be met but if "excluding variable remuneration and non-recurring charges".

...tend to come in threes. This is the second.

And the expiring ages of the investments. They could do with offloading a few more! The wording of the last update implied a dividend cut could be in the offing this year or next.

Http://www.trustintelligence.co.uk/investor for more high-quality investment trust research

https://www.trustintelligence.co.uk/investor/articles/fund-research-investor-hicl-infrastructure-retail-jan-2025?utm_source=RNS&utm_medium=research

This is commissioned research; ad to be honest it hardly inspires much confidence!!!!!!!

The Trump Factor could also be a help here. His unpredictability and irrationality should lead to further market instability.

Cruddas would never sell.

No chance in the short term. DLG needs to be integrated first. Give it a couple of years !

Happy Christmas my friend, and a prosperous New Year!

I no longer subscribe to Paul Scott so can't access the comments, but I can assure you it is there. Anyway, with market volatility to come, this does seems a decent pick still.

Unfortunately, I totally agree! But with a NAV c150p and a price of 115, it does seem cheap now.

He subsequently revised this after reader comments. He remained very positive, but noted a small miss on revenues. For what it is worth, I am positive too!

These are cumulative preference shares, so as secure an income as you can get. The entire company now belongs to Pennon. There is the chance Pennon could buy these back, or force a tender, but that would have to be at some sort of premium, as was done with RSAB this year. Seems a secure bet to me.

This should pick up a bit when interest rates are cut. Meanwhile, enjoy the dividends!

Have a look at Paul Scott's substack. I totally missed it at the time, but he's right!

Support at 254. If that fails there's a big drop.