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Introducing the LemonFools Personal Finance Calculators

Regional REIT.

SKYSHIP
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Re: Regional REIT.

#134823

Postby SKYSHIP » April 26th, 2018, 7:17 am

Did you check out IDealing - they came out equal top in an IC survey last year.

SKYSHIP
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Re: Regional REIT.

#134826

Postby SKYSHIP » April 26th, 2018, 7:22 am

...though must say IWeb looks pretty good on the face of it! £5/trade certainly represents value...

jackdaww
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Re: Regional REIT.

#134840

Postby jackdaww » April 26th, 2018, 8:15 am

SKYSHIP wrote:...though must say IWeb looks pretty good on the face of it! £5/trade certainly represents value...


===========================

IWEB are good value , and seems to get generally favourable reports.

hopefully run buy a big player - halifax/lloyds helps.

:)

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Re: Regional REIT.

#137534

Postby tramrider » May 8th, 2018, 1:30 pm

spiderbill wrote:Odd occurance yesterday. I have a modest holding in Regional with Interactive Investors, bought last November, and had decided to increase my holding now that the new ISA allowance is available, but when I tried to do so I got "this share cannot be traded online" from their system. No other explanation. (I bought Schroders and topped up Taylor Wimpey instead.) May try again later but wondered if anyone else had had a similar issue.


Today, even worse happened for me with iWeb when I tried to increase my holding in RGL. iWeb said "We no longer allow investment in this stock". Perhaps they haven't written a KID document?

Tramrider

bobsmydog
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Re: Regional REIT.

#137578

Postby bobsmydog » May 8th, 2018, 4:27 pm

tramrider wrote:
spiderbill wrote:Odd occurance yesterday. I have a modest holding in Regional with Interactive Investors, bought last November, and had decided to increase my holding now that the new ISA allowance is available, but when I tried to do so I got "this share cannot be traded online" from their system. No other explanation. (I bought Schroders and topped up Taylor Wimpey instead.) May try again later but wondered if anyone else had had a similar issue.


Today, even worse happened for me with iWeb when I tried to increase my holding in RGL. iWeb said "We no longer allow investment in this stock". Perhaps they haven't written a KID document?

Tramrider


Yes that is odd, I bought some 6 April with The Share Centre

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Re: Regional REIT.

#137693

Postby LittleDorrit » May 9th, 2018, 9:40 am

Previously an advocate for iweb's low prices, I now find myself a grumbling malcontent. Halifax /iweb seem to have put the cosh on the purchase of a wide range of investment trusts.
In my own case I attempted to B&B Picton Property Income (PCTN) prior to the company's proposed conversion to a REIT, by selling from my iweb share dealing account and buying in my ISA, only to become stranded in cash. Now resolved with another platform, but no response from iweb to my enquiry to have PCTN reinstated.

tramrider
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Re: Regional REIT.

#140354

Postby tramrider » May 21st, 2018, 1:32 pm

tramrider wrote:
Today, even worse happened for me with iWeb when I tried to increase my holding in RGL. iWeb said "We no longer allow investment in this stock". Perhaps they haven't written a KID document?

Tramrider


On Friday 18th May I was able to buy some more RGL at iWeb again, with no obvious reason for the change. Perhaps some people are poking iWeb with an IT stick and they realise that they want the trades.

Tramrider

SKYSHIP
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Re: Regional REIT.

#140355

Postby SKYSHIP » May 21st, 2018, 1:34 pm


bobsmydog
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Re: Regional REIT.

#145658

Postby bobsmydog » June 14th, 2018, 6:07 pm

Price down from 100p to 95p since this research report. Anyone got any idea what the reason is?

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Re: Regional REIT.

#145948

Postby richfool » June 15th, 2018, 7:04 pm

I noticed there has been a downgrading of property related stocks (from HL's summary of Broker Tips 6th June):
(Sharecast News) - The retail squeeze is starting to show on property values, said Credit Suisse as it reappraised real estate investment trusts Hammerson, British Land and Shaftesbury.

Hammerson and British Land were downgraded by the Swiss bank to 'underperform' from 'neutral' ratings, while Shaftesbury's focus on London's West End saw it upgraded with the reverse rating change and its price target lifted to 1,015p from 860p.

http://www.hl.co.uk/shares/share-resear ... huntsworth

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Re: Regional REIT.

#145960

Postby Dod101 » June 15th, 2018, 7:57 pm

I can't say I am surprised. I have only a small holding in British Land and a larger one in Segro, but as I said earlier today, B Land has sold a building in central London is using part of the proceeds to buy back its own shares for cancellation. Shrinking the Company. And B Land's share price is drifting back.

See my post on this thread of 17 February.

Dod

SKYSHIP
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Re: Regional REIT.

#146052

Postby SKYSHIP » June 16th, 2018, 9:34 am

RGL back to the level of that 3m trade @ 94.5p some 3weeks ago, shortly after going XD 1.85p.

Nothing really untoward, just a drift as one or more of the institutional investors who entered at 100p adjust their books.

Should see some stability with the next set of numbers and dividend statement; especially as the yield is now at a more
than generous 8.5%! Happy to hold, indeed finding it increasingly difficult not to add...

Incidentally Dod101 - rather than drifting BLND is actually trading at a 2-yr high and 15% above its lows!

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Re: Regional REIT.

#146053

Postby Dod101 » June 16th, 2018, 9:36 am

SKYSHIP

Sorry I got that on B Land wrong. I see it has come back quite strongly in the last three months or so although still somewhat below its peak of two years ago at around £7.38. My only excuse is that I am not really very interested in it these days. Thanks for that.

Dod

FredBloggs
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Re: Regional REIT.

#153660

Postby FredBloggs » July 20th, 2018, 12:37 pm


dspp
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Re: Regional REIT.

#153911

Postby dspp » July 21st, 2018, 11:05 am

FredBloggs wrote:4.5% bond. But why?
https://www.telegraph.co.uk/investing/b ... 45pc-year/


Maybe they are expecting some not-to-be-missed acquisition bargains in several months time, and want to have a war-chest to hand. Or maybe they are expecting to have an unusually large number of voids in several months time and want to have enough cash in the bank to ride through.

Can't think why that might be ......

(or maybe there is a more innocent explanation)

regards, dspp

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Re: Regional REIT.

#153915

Postby FredBloggs » July 21st, 2018, 11:10 am

dspp wrote:
FredBloggs wrote:4.5% bond. But why?
https://www.telegraph.co.uk/investing/b ... 45pc-year/


Maybe they are expecting some not-to-be-missed acquisition bargains in several months time, and want to have a war-chest to hand. Or maybe they are expecting to have an unusually large number of voids in several months time and want to have enough cash in the bank to ride through.

Can't think why that might be ......

(or maybe there is a more innocent explanation)

regards, dspp

A short time ago they raised equity funding for new acquisitions. Apparently, the aim of the bonds is to refinance some maturing debt at a lower cost. Which will be good for the shareholders. My question why? Is really about why would a bond holder invest at a 4.5% return in order to make the shareholders life better? Why wouldn't the bond holder buy the shares and get almost 2x the annual return he gets from the bonds? Seems a pretty rubbish deal for the bond holders to me. But what do I know?

SKYSHIP
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Re: Regional REIT.

#153957

Postby SKYSHIP » July 21st, 2018, 2:20 pm

See p40 of the prospectus:

http://www.regionalreit.com/~/media/fil ... onds-a.pdf

Why are the Bonds being issued? What will the proceeds be used for?:

The offer of the Bonds is being made in order to raise funding for the Group to be applied in part repayment of the external debt facilities of the Group set out in Section 9 (Additional Information), to increase the number of sources from which the Group obtains its funding and to spread the debt maturity profile of the Group. Section 9 (Additional Information) sets out all of the external debt facilities of the Group.

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Re: Regional REIT.

#154013

Postby snagga » July 21st, 2018, 5:48 pm

FredBloggs wrote:
dspp wrote:
FredBloggs wrote: My question why? Is really about why would a bond holder invest at a 4.5% return in order to make the shareholders life better? Why wouldn't the bond holder buy the shares and get almost 2x the annual return he gets from the bonds? Seems a pretty rubbish deal for the bond holders to me. But what do I know?


Well, seems like a pretty standard risk vs reward trade off. Equity and liabilities are around equal so a 50% decline in property prices could see bondholders get their money back in full while shareholders get wiped out - if things go well, shareholders effectively get extra compensation for bearing the greater downside risk.

What are alternatives rates for six-year lending/deposits? Gilts offer a bit over 1% pa. Bank fixed-rate accounts/bonds currently seem to go up to 2.67%pa for five years.

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Re: Regional REIT.

#154053

Postby FredBloggs » July 22nd, 2018, 2:49 am

snagga wrote:
FredBloggs wrote:
dspp wrote:


Well, seems like a pretty standard risk vs reward trade off. Equity and liabilities are around equal so a 50% decline in property prices could see bondholders get their money back in full while shareholders get wiped out - if things go well, shareholders effectively get extra compensation for bearing the greater downside risk.

What are alternatives rates for six-year lending/deposits? Gilts offer a bit over 1% pa. Bank fixed-rate accounts/bonds currently seem to go up to 2.67%pa for five years.

The thing is that the REIT currently trades at a discount to NAV. The assets are mostly concrete and aren't going away any time soon. If RGL somehow went up in a puff of smoke, the concrete is still standing and the tenants are still paying rent. I don't correlate that as equity risk in the same way as, say, Carillion or Provident Financial. Like chalk and cheese. I see zero reason to buy the bonds, others have different views, obviously.

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Re: Regional REIT.

#154117

Postby gbjbaanb » July 22nd, 2018, 12:53 pm

FredBloggs wrote:The thing is that the REIT currently trades at a discount to NAV. The assets are mostly concrete and aren't going away any time soon. If RGL somehow went up in a puff of smoke, the concrete is still standing and the tenants are still paying rent. I don't correlate that as equity risk in the same way as, say, Carillion or Provident Financial. Like chalk and cheese. I see zero reason to buy the bonds, others have different views, obviously.


The concrete might be standing, but might also be falling apart. The tenants might all decide to up sticks and relocate their business to Poland, the economy could collapse after Brexit (as I'm told, incessantly, it will it we leave ;) ) or the building sector could boom and build loads more offices and warehouses reducing the rents if there aren't enough tenants to go round.

Plenty of risk for a REIT, particularly one holding office space that can become a ghost town almost overnight.


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