Member Info for TimBob

Thing to remember with Wimps and Cladding is that they aren't as exposed as some of the others builders (none of the big 3 are really)... The cost of replacing the cladding isn't the biggest cost in this situation, it'll be the cost of scaffolding... the taller the building, the bigger the cost and as TW has minimal exposure to that market, they should be covered...

I think it's short sighted from the government in some ways, as the developers were mislead as much as the customers... the focus should be back onto the manufactures of the products AND organizations like the BBA that supposedly tested materials for compliance...

Well i had a sell order at £0.8750... and guess what! Only 10% of my ISA holding, but at that price, I've been able to reinvest somewhere else which offers a better yield, also helps reduce my exposure. Still going to be re-investing my monthly divi back into EPIC within my SIPP mind...

Looking strong for the new year... like a few of you, would have been nice for it to stay a bit lower for a bit longer so we could keep topping up at a discounted price!

Yeah, it seems as though they don't see any issues moving forward which is good... Current divi still looks to be covered by the reduced rent after the £36m sale of the offices; so I get their logic in holding back a divi rise until they have reinvested theses proceeds.
Hopefully the asset managers have a purchase already lined up (which they did last time)... Divi increase for christmas would have been nice, but hay ho!

Just read the year end results... sounds positive but I have to admit to being a bit disappointed with lack of movement on the dividend... With an increase in yields, I had hoped that they would have announced further positive dividend growth. Unfortunately it sounds like any dividend increase will be on hold until the office sale has completed and monies re-invested...

Gerry i think your right about moving chairs... some REITs are probably looking at the office sector as artificially depressed and a good time to buy... I work for some Saudis who had been reinvesting oil profits into unloved office space, referb'ing and top floors to flats, but they have pulled all their funding for this type of project as the the yields really aren't there at the moment... Their asset manager is pretty clued up and doesn't think office rents/values will be back to pre-covid levels for at least 5yrs!

I like EPIC due to the regular divi; seems to have less effect of the Share price, so you don't see some silly swings like you do with others who pay out annually or half yearly!
Used to do more buying and selling to take advantage of price movement around ex-div dates, but don't need to with EPIC!
Not really looked at CLI before, see they've been on a downward trend the past few months... might be down to their exposure to offices?!

Well I opened my mouth too soon... its on the fall again, but gives us a bit more time to keep reinvesting!
Don't think they are slow to the party on the retail warehousing... if you look at their holdings, its the biggest slice of the pie; I think they have timed it right to be honest, getting out of offices last year would have been a price slaughter, where this year prices have risen back up... Retail warehousing gives better yields even now, so better for the divi and our wallets!!!

Who else is thinking that EPIC looks on course to break the 80p barrier? I think its coming and from the looks, wont be long!
Tempted to cancel my divi reinvestment over the 80p mark and just start to take the cash; as the yield wont be as attractive (well, unless they bump up the divi again; something i think is coming also; just don't know when)...

Well i was mistaken... on the dates...
But a positive update. I was hoping for a bit more detail on the dividend; especially as they have pointed out specifically the Divi is well covered, and that collections are improving...
Additionally with the increase in yield on the latest purchase (9% compared to 4-5% on the property it replaced). This additional margin represents approx. £1m in additional rent per annum (£0.00473p per share!); so I would hope that we see a proportionate increase in the divi in coming months.
Guess we'll just have to wait and see...

If i'm not mistaken, we should be getting the latest quarterly update from EPIC in the coming week. Indications are trading and rents remain strong and there has been chatter about another increase in the divi.
I'm still topping up with my divi reinvestment, but it would be nice to see a bit more SP growth...

I think the price spikes were probably some large buy orders; with limit share being traded, and large volume buys or sells tend to show up as some big spikes or drops...
Next real and maintained share price movement will come with the year end results in my opinion; there is strong sentiment that there will be another increase in Divi announced at this time, so will support a higher SP.
I love the monthly Divi now... it's just nice to see the money come in and no real effect on the SP...

I'm guessing that LaSalle have decided to move away from UK retail; they are a global organization, so probably think they can make more money elsewhere on the globe.
Looks like a good investment for us share holders; even with a reduction in some rents (which is possible) your right in saying it'll still be better than the rents that they were getting from Tesco's for the store that was sold recently.
EPIC are focused on the Retail Warehouse market, something that isn't as much as decline as high street retail; unfortunately a lot of the markets don't discern between the two!

Retail warehousing has been treated the same as general retail in terms of valuations by most of the big agents; therefore YES i think undervaluation's across the board... sooner or later they will see this and valuations on retail warehousing will hopefully increase and help mover EPICs NAV up and help support some share value growth...

Hay Loggy, im with you with the sell off side of things... i used to invest heavily in the UK Newbuild market, timing sell offs in line with the exDiv date and buy backs at a later point... helped me make more than the divi, but it was a lot of work for a bit more gain...
Most the time, the SP would end up back where it was pre exDiv at some point, so probably just made work for myself...
With EPIC i dont think the SP moves as much with the divi pay outs as its monthly rather than once or twice a year...

Well i started buying into EPIC at £1.04... Luckily my average buy is now £0.56 so overall im up a nice amount... Think 80p is a very real valuation on the SP. NAV is starting to drift upwards and is currently £0.87/share so 80p would still be at a discount of 8%...
Renting income is still consistent and more than covering Divi and Debt and there has been clear signs in statements that there will be another increase in the divi at the end of the financial year (which i believe is sept?), which could help push them higher...

Gerry, i've only started doing the regular investment when i got into EPIC; typically i got 3 to 4 divis through the year, but with them paying monthly, it's a easy and cheap way to keep building my investment...

Gerry557 - retail is very unloved; but it's most City/Town Centre sites that are struggling with tenants. Out of town retail warehousing hasn't been hit half as much... and here is where EPIC is a good buy; the vast majority of its retail is out of town retail warehousing and so, in my opinion has been over sold.
Definitely hold this in your investment ISA or SIPP... and if you don't need the income, set up a regular reinvestment whilst the SP is low...

Gerry557,
welcome to one of the quietest boards on LSE! EPIC is a great REIT and if you look at the major shareholders, they are all your usual suspects. I personally think they are better possitioned in the market, with the vast majority of their retail in out of town locations where demand is still high and occupancy not an issue.
On this, i feel the SP has taken too much of a battering than it should have! With a SP of over £1 before 2020 and covid, i think there is still some great SP growth potentially as well as a great monthly divi which also hase growth potential.

EPIC have indicated in the latest dividend declaration that there payouts are still covered easily by the current rent collections and that the dividend will be reviewed again at the year end.
At £0.05/annum (7.5%ish yield at the min.) i think EPIC is massively undervalued... at launch they were paying out £0.055 and this was increased to £0.0575 in 2018. Looking at the financials and current rent cover, another increase of 10% isn't out of the question. Making this even more of a bargin!