Member Info for philpot1001

Nearly bought a chunk here at 18.5p a few months back...regretting not doing so now! typical...have been waiting for the over exuberance of the USA investment to die down, but doesn't look likely anytime soon, so bought a small tranche today. If it does die back i will take another chunk and average down

Held here for a few years (this and L&G Global 100 fund, basically similar beasts)....looking to add on any weakness, but it doesn't seem to have much weakness lol (unless there is global calamity, thanks Mr Trump).....its a pretty incredible performer

Whoops 2.7% not 2.9%

Net tangible assets dropped 2.9% - close to market drop today, so i'd say that's the root cause of the drop in SP ....other than that results seemed OK to me

Ahhhhhh looks like results came out today, although not shown on LSE RNS....that explains the drop (although not dug through the results yet(

Ignoring todays drop for now, i did a deeper dive into the company yesterday. Looks like a significant discount to NAV here (not too unusual for REIT's, but quite a bit bigger discount than most!). Difficult to ascertain why, only reason i can come up with is the pretty large debt overhang (> MCAP which seems large IMO), but that "should" be being eaten into soon in theory (although previous financial year saw an INCREASE in debt not reduction which concerns me). Anyone know what the high debt levels have been used for? Expansion?

I would be very interested in hearing other peoples more educated input on the above? So far i can't get a grip on GRI, bargain or perpetual falling knife?

Drop here today with other REIT's up? Saw an article earlier where Labour member was saying Labour are letting down renters - related? Something else? Not sure .....for sure if Labour hard left start hammering landlords further wont be great for GRI

Sold all my private rentals between 2022 and 2025, started drip feeding into some REIT's this year. Been buying what at least appear to be under priced PHP with an average of 91p and BLND with an average of 346p. Just bought in here at 159.8p, and may add more, however i admit i am slightly concerned the reasons i left the sector individually (renters rights, legal bureaucracy "may" negatively affect GRI. That plus the shorters appear to be gathering and its been a downward trend for several years also concern me and prevent me diving in deep. Fingers crossed its just the gilt yields dragging down the NAV and is a passing storm.

At the minute i am drip feeding top ups any time it goes sub 90p, hopefully tis a fairly safe bet. Still keeping about 30% cash though in case the orange moron goes and does something even more stupid

While the gilt yields are rising / high this and most REIT's will be depressed... that said i am currently making a leap of faith we are close to the peak gilt yield , so starting to load up personally

Looks like expected NAV dropped ~4% no? Seems likely to me this is the reason for the ~5% drop today along with market sentiment

Couldn't really find why the NAV has dropped, is it just the general markets have dropped recently dragging LGEN NAV with it? If so "should" be temporary assuming markets recover after Trumps messing about

Https://www.reuters.com/business/spacex-weighs-confidential-ipo-filing-soon-march-bloomberg-news-reports-2026-02-27/

was initially mooted as $1.5 Tn a few weeks ago, now seems to be upped to $1.75 Tn according to press

I think there are several factors in play here, as the NAV was closing out well before the SpaceX IPO announcement. It was about 10% discount at the time of the IPO news, since then has closed to zero and i think Mecanopsis is probably on the nose that a large part of the portfolio which was private is now going to be IPO'd at a known value......that said, i think most people would expect a newly IPO'd company to grow (especially one ran by Musk)

As far as i can tell the discount to NAV has "pretty much" been eradicated (as compared to published NAV's anyway)

Looks like discount has narrowed to nearly 4 or 5%

Bizarrely my AJBELL account was reading 109 shares on Monday when i added a purchase, 109 shares yesterday afternoon AFTER the consolidation - but today now reading 96 shares. So i did get a reduction, but its was lagging big time

Sorry, yes digging deeper i see you are correct - the $30 Bln is coming from new investors via an IPO, scheduled ideally for mid 2026, but may drag into 2027

https://www.goodreturns.in/news/spacex-ipo-plans-target-valuation-around-1-5-trillion-and-record-debut-and-starlink-expansion-011-1475667.html

Next obvious question is what was the estimated value of SpaceX when SMT bought their shares? No idea on that front

Correct me if i am wrong here, but my understanding is SpaceX are just looking to raise $30 Bln in funds from share holders, not actually taking SpaceX public ......but the $30 Bln raise effectively means if they did take it public its value would be expected to be near $1.5 trillion. Have i understood correctly?

I have the same number of shares as i did on Monday when i bought at 4200 as well