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Regional REIT versus all the others?

SKYSHIP
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Re: Regional REIT versus all the others?

#104349

Postby SKYSHIP » December 15th, 2017, 12:19 pm

Fred - I totally agree with you re RGL. Accordingly I topped up just below 101p on that down-spike a few days ago; accepted my 1-for-8 allotment; and applied for excess. I don't think you can really argue with a 7.7% yield and a discount - even though the latter may now be just 2%.

In the sector I also own EPIC, HCFT, LSR, RLE & a very few RDI (this last a sighting shot; still not sure about that one)

About to post on HCFT - take a look...

richfool
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Re: Regional REIT versus all the others?

#104396

Postby richfool » December 15th, 2017, 3:38 pm

After reading an article in the Invesor's Chronicle about the prospects for 2018 (in the various sectors) and noting comments to be wary of Property REITS with very high gearing (over 150%), I checked RGL and note that their gearing is very high at: 292%. I don't know if that might be because they are not yet fully invested, or something along those lines.

http://citywire.co.uk/money/investment- ... undID=3927

SKYSHIP
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Re: Regional REIT versus all the others?

#104476

Postby SKYSHIP » December 16th, 2017, 9:33 am

RF - that stat is patently wrong - see this extract from the RGL Interims in September:

"Net LTV of the Group reduced to 47.3%, from c. 49% following the acquisition, and will continue to be managed down towards the Group's long-term target."

"...The Board continues to manage down the Group's net loan to value ratio to its long-term target of around 35%."

The more I look at this one, the more I like it as a high yield banker.

The charges are high; but so is our income!

jackdaww
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Re: Regional REIT versus all the others?

#104516

Postby jackdaww » December 16th, 2017, 1:20 pm

i hold regional for the yield.

woodford has some .

the debt figure i have is 82% - whatever that means .

jonas crossland (IC) seems very favourable on REIT's in general - i hope he is right ...

scottnsilky
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Re: Regional REIT versus all the others?

#104585

Postby scottnsilky » December 16th, 2017, 5:29 pm

Investors Chronicle quotes a yield of 5.6% and a total expense ratio of 4.36%, surely that latter figure can't be correct? I fancy a punt myself, but not at that cost!
dp

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Re: Regional REIT versus all the others?

#104695

Postby UncleEbenezer » December 17th, 2017, 11:50 am

scottnsilky wrote:Investors Chronicle quotes a yield of 5.6% and a total expense ratio of 4.36%, surely that latter figure can't be correct? I fancy a punt myself, but not at that cost!
dp

Have you looked at what that figure encompasses?

For example, if they own actual properties and manage lettings and landlords' responsibilities, that 4.36% could look like good value.

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Re: Regional REIT versus all the others?

#104697

Postby SKYSHIP » December 17th, 2017, 12:03 pm

Also, never rely on stats from ADVFN, IC, Morningstar or any other organisation. You can usually rely upon
broker stats and Edison, especially the latter as the research is essentially as supplied by the Company itself!

Perhaps start with this link:

http://www.edisoninvestmentresearch.com ... 1/preview/

The yield on the historic 7.65p dividend is 7.5% @ 102.5p; or on the projected 7.85p = 7.7%.

Not sure what the total TER might be; but there is a performance fee which if earned obviously suggests
all shareholders will have benefitted not from just the highest yield in the sector, but also an element of
NAV gain as well...

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Re: Regional REIT versus all the others?

#118794

Postby SKYSHIP » February 17th, 2018, 2:03 pm

The Daily Telegraph gave this a mention yesterday....

http://www.telegraph.co.uk/investing/sh ... tocks-buy/

"Update: Regional Reit

Quoted property trust Regional provides the portfolio’s exposure to commercial property in the South East but, crucially, outside the M25.

At the end of 2017 the company secured a £165m refinancing package (at a highly competitive fixed rate) that extended the term of average debt across the group. The deal gives Regional the flexibility it needs to continue its aggressive acquisition strategy.

One of the portfolio’s oldest holdings, we bought it at 103p in October 2016. The price has been either flat or slightly down in the months since but it is the income we’re interested in and Regional has not disappointed. It has paid out £1,085 on our £15,000 investment.

At today’s price the yield is 7.7pc. It is one of the few high-yielding trusts in its sector trading at a discount (3pc) to the value of its assets. Buy"


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