Member Info for Gerry557

Retail and leisure now accounts for 47% of our portfolio, down from 50% a year ago and 70% in 2016.

I wouldn't say half is low and gearing is/was 118%

Market seems to like the rent update

Well Im hedging my bets, added a few more this morning and now it makes a nice round number for the placing. Had to juggle as some were in an ISA which I cant add funds into. So not an ideal way to deal with the situation but needs must.

@ PaulFG, sorry I misremembered the percentage. I have the current buy price as just over 200p allowing for the rights. A slight discount then!

I thought that it might drop more as we approach the deadline and it might "correct" once the deal has done.

This is assuming you can add the extra shares. Not much help if your isa is full or you dont have spare cash. I assume most people buying now understand this. Im looking to see if I should add a few more now or wait until the dust settles.

sorry

Record date for entitlements under the Rights Issue

Close of business on 27 January 2021

In the RNS "Ex entitlement date for the Rights Issue 8.00 a.m. on 2 February 2021"

I thought the SP would have fallen further as 40% is valued now at 140. OK ist a discount price but ................

Relative to the cessation
Relative to the resumption at much lower levels
but not relative to previous levels.

“Philosophers play with the word, like a child with a doll. It does not mean that everything in life is relative.”
? Albert Einstein

Still, Im glad its back and then upped some.

So the dividend has been rebased. Not really a surprise based on all the cuts to individual shares generally during Covid and forced stops on banks etc. Also patxd highlighted so other issues not to mention a poor spell by the previous manager. Im sure he might argue timing and that it will come good eventually

So now we have some new shoes on, hopefully running shoes not wellys and early signs are good. The new manager has taken a different tack . Gearing has gone up, hopefully buying shares cheaper in the lull oh and some buybacks too.

I suppose the question is would I start to add more in future, probably!

I note that the share price dipped below the placing price. Its finished up and above, just!

Still I expected it to rise a tad higher than where it is but I suppose its ex divi now so will have to wait 3 months for that to have an effect. Cash in the bank in 10 days time ........ now where to put it??

LSE not showing the RNS's ???

Quite a good update today baring the technical issues with the presentation, more things getting back to normal. Divi increased as covid is having lesser effect. Some wanted more divi but they are playing safe and its still lower than pre covid levels.

So with more buybacks and a better outlook the SP has risen strongly over 13%. Not great for the buyback but still offering 5.79% quarterly income which should rise a bit more in time assuming covid is tamed. My last buy is heading towards sell territory but I suspect I will hold and see if they can get into double digit income yield. I note a few fallers so will have to look at what Mr market is doing to the rest of my shares.

I would raise the issue with HL and ask the technical team to take a look. They wont really want to give you money back but if you are in credit that might offer to sell and put you back to as you were.

What would have happened if you were quicker .... 5 buys!

Put the ball in their court, they might be able to prevent in future it or even have a faulty system. For the sake of an email complaint, that is what I would do. You can even escalate it if you are not happy with the reply.

"What price for 50% discount."

You dont expect that just because to type something it actually starts to happen with immediate effect but just in case I have a magic keyboard .......................... the share price is going to double by tomorrow night and they are going to double the dividend!

Bet I have already used my x3 wishes though!

They are supposed to pay out at least 90% income to remain a reit, so not a lot left to do a buy back with.

SREI is currently buying back its own shares, probably due to some of the reasons you mention.

DOGSINBRAZIL, that doesnt inspire confidence. I want to keep, it not split it up and sell it off piecemeal.

SAK50, Yep if something is so good .............. why are they selling

Seaking1, yes he did seem to "get off" unless there is more going on in the background. Of course he could have had Covid that made him act out of character and those investing issues were just a blip.

I did well out of Woody before he went just Woody. Then again his prodigy got sacked later too. Not for wrong doing, just being wrong! Wrong might be the wrong word timing might have been better placed. Hopefully I not wrong, I just need a little more time for things to come right. 30 years is nothing compared to age of the cosmos!

Etotheipi.

Your 21% comment doesn't take into account the gearing. Income is down but outgoings are exactly the same. I did wonder if the selling of that property recently was a way to get some more capital into the accounts and that they were becoming forced sellers or just being prudent in a down turn.

Still they purchased another property just after that albeit much cheaper. So still have some extra cash and thro me off the scent in the process. The rent collection update was a bonus. To be honest I was not expecting it to be that good. The outlook is not rosy though and is getting worse as the pandemic continues. Either we find a better way to continue or demand and downward pressure will keep acting on this. What price for 50% discount.

Hopefully pockets are longer than downturns.

Seaking1.
My comment was meant to imply what you wrote but yours read so much more eloquent. I even managed so typos to boot.

I upped my holdings so that after the split I would have meaning full amounts in both although did wonder if I should have sold one side and rebought the other. Probably the GSK side of things but everything is a bit unknown. Now I plan to sit on the fence holding both until I can decide which one.

This probably means I well end up keeping as is. Happy with higher dividends on one side and a bit more growth on the other. I do wonder if the quarterly dividend on the GSK side might change to semi annual or if both might revert going forward.

At least we will get to see if Woody, where is he now? Was right about splitting them up. Can we also open a sweepstake on when the first calls for a merger will be!

Yep with the split in mind, the low share price, its the kick I needed to add a few more. They may even win the covid lottery!

I suspect that overall the dividend might be less after the split and no sure which way the debt will go. I suspect the new divi will be based on earnings and the other side might be slightly higher on the divi front

33% discount is low compared to some other REITs. Of course this price is compared to the property values which could fall, depending on circumstances, getting rid of the discount.

The rent collection has tipped me into adding a few more. Hopefully others are correct about the rise before the ex divi and I have timed it right. Based on recent history, I am now awaiting a 6 monthly closure of all shops and workplaces and other premises to be announced on the news

I think there are a few factors hold the SP back :-
1. Lots of new shares that might be for sale. ie Those who bought hoping to sell for a quick buck
2. There is still £350M outstanding to be raised over the next year. This will keep the SP depressed otherwise we would all sell and buy back the cheaper shares.
3. Covid, Mr Market is still not happy acting as a bit of an anchor
4. Brexit, another worry for Mr Market

As for the government, I thought it was £160m which is less than half of what UKW has just raised but I haven't studied the detail just the headlines. Put in that context is not really that much plus they are not going to had it to private companies just to build more. In fact they were trying to get away from subsides altogether. I expect it to assist the companies in different ways, better turbine designs, UK manufacturing, storage options and interconnectors.

It might even be to universities, to help design the next best thing, you know, from that kid stuck in forced lockdown and cant go out socialising every night instead. He might just do a bit or work! The next Bill Gates.

I wonder who was scaled back then on the oversubscribed placing maybe it was just the big boys. Plus if it was so oversubscribed why not take the lot in one go?

Psmita.
What are your concerns about being in the FTSE 250 index? Why hasn't this been a problem previously?

It up to you what to do with your own shares. Why did you buy them to begin with and what has changed? That would be my starting point.