Member Info for hghotshot

Agricore,
All good points. However, EPRA NTA at y/e 2022 is forecast to be 88.4p by Edison Investment Research (November 11, 2022). I believe EPRA NTA of 97.3p is an earlier estimate from Edison. Using the updated estimated of y/e 2022 EPRA NTA of 88.4p the NAV discount is 34% (instead of 40.4%). Also, the y/e LTV increases to 45.2%.

Having made these points, I still believe there is a strong investment case for holding this REIT. Unless there is an economic catastrophe, the dividend will continue to be paid and the EPRA NTA will recover.

The premium of almost 10% on NAV is a worry to me. Time to look elsewhere, I think?

The discount to NAV is 47% and the dividend is 6.7%. What is going on?

We have got a property company trading at a discount of 40% to NAV and paying dividends of more than 10%. This does not maker sense to me.

Discount is now over 19%. That just does not make sense.

Discount to NAV has touched 10% this morning. That is way out-of-line with historical performance. I can only see the discount getting smaller and have bought some more.

Current NAV discount is around 6%. Discounts of any magnitude have been historically very rare and discounts of this size extremely unusual. In my view, there is likely to be some more significant volatility in SP and discount. I am watching for good value opportunities to increase my exposure.

Got back in at 718 (NAV discount just over 2%). I will continue to keep an eye on the discount. Will buy more if the discount increases significantly (to exceed 5%).

Bingo!! Now trading at a discount, at last (of around 2%). I will be getting back in soon.

Premium now down to 3%. I will be watching this very closely from now on.

Premium is relaxing now, down to around 6%. It is getting close to where I will be looking to get back in.

SP drop reflects first day of trading XD (dividend of 0.91556p) to be paid on December 14.

bryaz, you are right. ST in the Chronicle:

"Underpinned by a healthy 4.9 per cent prospective dividend yield, and rated on a forward price/earnings (PE) ratio of 17.5, I am raising my target from 330p to 375p. Buy."

I hope he is right.

Discount is nearly 6% now and yields more than 6%. Unless I am missing something, this seems like good value.

Don't forget the dividend. The shares are being sold to include the 0.91556p dividend (until December 1). Even after the recent sharp increase in SP, I see great value here.

Shares are being sold to include 0.91556p dividend until December 1. I see great value here.

Excellent RNS and shares being sold to include 3p dividend until November 24. I see great value here.

Jim800, you are 100% right on this. DEC can readily portray itself as the "Green Crusader" of the oil industry, spending many millions of dollars to reduce methane emissions by dealing with leaks from wells (emphasising the fact that none of the wells was drilled by DEC). If DEC does not do this then the government will have to do it. Nobody else will do it.

Call me old-fashioned (you would not be the first) but a premium of over 10% does not make sense to me. I see this as an anomalous situation which some might characterise as the result of "irrational exuberance".

DEC has responded with a sensible RNS which hopefully will calm things down. It is clear to me that the authors of the article had no intention of presenting a balanced picture of the company's operations (managing mature acreage in an economic and environmentally safe manner). The intention was to show the company as run by an evil manipulator, in CEO Rusty Hutson, who is hell-bent on hastening and intensifying a climate catastrophe for the purpose of personal enrichment. The article is full of unsubstantiated information and snide innuendo. Shameful.