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SLI - the next to look anomalously cheap...

SKYSHIP
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SLI - the next to look anomalously cheap...

#334634

Postby SKYSHIP » August 20th, 2020, 11:44 am

Standard Life Property Income Trust (SLI) dipped to 51.5p last week, recovered to 55p; but have fallen back again to 52.5p. At this level they look anomalously cheap for a trust which historically used to trade at cNAV level, now trading at a 34% discount.

What particularly catches my eye is that the directors have recently bought in reasonable volume in the 54p/55p range.

The property portfolio is mainly Office & Industrial, with very low exposure to Retail.

The LTV is 26.2%, the debt cost is 2.59% and they just this month had the confidence to pay a 2nd Interim Dividend.

Well worth a little investigation. The shares have recently swung post the crash level of 50p, up to 80p, down to 58p, up to 70p; now trading hopefully a base in the low 50s.

IMO they look good for a 10%-15% short-term trade.

richfool
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Re: SLI - the next to look anomalously cheap...

#349630

Postby richfool » October 21st, 2020, 6:16 pm

SKYSHIP wrote:Standard Life Property Income Trust (SLI) dipped to 51.5p last week, recovered to 55p; but have fallen back again to 52.5p. At this level they look anomalously cheap for a trust which historically used to trade at cNAV level, now trading at a 34% discount.

What particularly catches my eye is that the directors have recently bought in reasonable volume in the 54p/55p range.

The property portfolio is mainly Office & Industrial, with very low exposure to Retail.

The LTV is 26.2%, the debt cost is 2.59% and they just this month had the confidence to pay a 2nd Interim Dividend.

Well worth a little investigation. The shares have recently swung post the crash level of 50p, up to 80p, down to 58p, up to 70p; now trading hopefully a base in the low 50s.

IMO they look good for a 10%-15% short-term trade.

Now at 49.50p. Yield: 9.71%. Discount to NAV -38.81%

Dare I top up?

https://www.hl.co.uk/shares/shares-sear ... ust-ord-1p

nmdhqbc
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Re: SLI - the next to look anomalously cheap...

#349634

Postby nmdhqbc » October 21st, 2020, 6:29 pm

richfool wrote:Now at 49.50p. Yield: 9.71%. Discount to NAV -38.81%

Dare I top up?

https://www.hl.co.uk/shares/shares-sear ... ust-ord-1p


The latest dividend seems to have been re-based to 0.714p so yield of (0.714*4)/49.5 = 5.77% might be more realistic. I've been tempted to get back in myself. I managed to get out at 94p in Feb. Dumb luck more than anything.


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