TR Property trust

[Avantegarde]

I have had a holding in this for the past decade or so. In the past ten years total return has been 178% but in the past five years the trust has been a total dog: total return just 2% (yes, two per cent) in that time. Dividends still grow fast at an average of 11% a year (all figures from the AIC website) which is rewarding. But is there really any other good reason to stay invested? If I sold now I would still make a modest profit on my original investments. Stick or sell? Do you think there is any prospect of a revival in, say, the next two or three years?

[Mememe]

I sold out of mine earlier this year, however this was only because I needed to raise funds for a direct commercial property purchase.

For me TR Proprty would still be my go to investment for property exposure. I would normally like to leave the sector decisions to management in terms of office retail/industrial etc. gives exposure to European residential. Not just U.K. manager has been around donkeys.

Performance doesn’t look great but that’s mostly off the back of this year. It’s also contended with covid in the last 5 years.

Depends if you want a property allocation. If so it’s a hold for me because of the diversification it offers and the experience of the management team.

[SebsCat]

Half year report out today.

"This has been a dramatically poor period of performance for property shares and the Company was no exception, delivering a six month net asset value total return of -33.6%. Nevertheless, our investments are focused on balance sheet strength and the security of income, much of which is index-linked, so I am pleased to report a 6.6% increase in the interim dividend." David Watson, Chairman

https://www.investegate.co.uk/tr-proper ... 00035053I/

[terminal7]

I also got out back in the Spring (after holding for several years) with a small loss. What concerned me was that they originally outperformed the sector, but this changed dramatically Spring 2022. The gap between their performance and the sector became alarming (not completely sure why) and I bailed out. Have tracked them since and this underperforming trend has remained.

This has reduced my overall exposure to the property sector to just one small holding (Sirius) that has had a rollercoaster ride over the last three years - doubled then halved after Ukraine. For the moment see no reason to re-enter this sector and certainly re-invest in TR.

T7

[mc2fool]

I also got out back in the Spring (after holding for several years) with a small loss. What concerned me was that they originally outperformed the sector, but this changed dramatically Spring 2022. The gap between their performance and the sector became alarming (not completely sure why) and I bailed out. Have tracked them since and this underperforming trend has remained.

This has reduced my overall exposure to the property sector to just one small holding (Sirius) that has had a rollercoaster ride over the last three years - doubled then halved after Ukraine. For the moment see no reason to re-enter this sector and certainly re-invest in TR.

Which sector are you referring to and comparing with? In the narrow sense TRY is in a sector of its own, Property Securities, being the only one that (mostly) just buys shares in property companies, and is anyway only 42% in the UK with most of the rest being in Europe.

[G3lc]

Could now be the right time to invest in TR when sentiment/prices are low, or do you not expect demand /values to increase in the foreseeable future.

[dundas666]

TR Property is also in the AIC list of "next generation dividend heroes" having increased their dividend for 12 consecutive years now.
https://www.theaic.co.uk/income-finder/dividend-heroes

Yield is currently 4.6%.

[scotia]

TR Property is also in the AIC list of "next generation dividend heroes" having increased their dividend for 12 consecutive years now.
https://www.theaic.co.uk/income-finder/dividend-heroes

Yield is currently 4.6%.

Its difficult to understand why an IT that has a total return of -0.3% over 5 years can be called a hero.
(data from Hargreaves Lansdown)

[DavidM13]

TR Property is also in the AIC list of "next generation dividend heroes" having increased their dividend for 12 consecutive years now.
https://www.theaic.co.uk/income-finder/dividend-heroes

Yield is currently 4.6%.

Its difficult to understand why an IT that has a total return of -0.3% over 5 years can be called a hero.
(data from Hargreaves Lansdown)

Almost double the return of the FTSE All Share over 10y though

[77ss]

TR Property is also in the AIC list of "next generation dividend heroes" having increased their dividend for 12 consecutive years now.
https://www.theaic.co.uk/income-finder/dividend-heroes

Yield is currently 4.6%.

Its difficult to understand why an IT that has a total return of -0.3% over 5 years can be called a hero.
(data from Hargreaves Lansdown)

Quite simply - it arises from AIC's definition of 'dividend hero'. Which does not, note, have anything to do with TR. ITs do seem to strain every sinew to remain in the dividend-hero list, however trivial the increase.

FWIW, a piece of 'research' from Kepler, which may be of general interest:

https://www.investegate.co.uk/tr-proper ... 00051227J/

[Arborbridge]

TR Property is also in the AIC list of "next generation dividend heroes" having increased their dividend for 12 consecutive years now.
https://www.theaic.co.uk/income-finder/dividend-heroes

Yield is currently 4.6%.

Its difficult to understand why an IT that has a total return of -0.3% over 5 years can be called a hero.
(data from Hargreaves Lansdown)

You knew the answer before you posted. It's because it has maintained its dividend for 12 years. Nobody mentioned applying a measure of TR except you, so to speak. It was dividend hero - not hero as you provocatively renamed it.

Arb

[dundas666]

TR Property is also in the AIC list of "next generation dividend heroes" having increased their dividend for 12 consecutive years now.
https://www.theaic.co.uk/income-finder/dividend-heroes

Yield is currently 4.6%.

Its difficult to understand why an IT that has a total return of -0.3% over 5 years can be called a hero.
(data from Hargreaves Lansdown)

To be fair a lot of the property ITs have taken a beating over the last few years, not just TRY.

As another poster commented, the 10 year data is better and shows a total return of 148% which is 9.5% pa. I think that's pretty good when taking into account the recent pandemic fallout.

[scotia]

You knew the answer before you posted. It's because it has maintained its dividend for 12 years. Nobody mentioned applying a measure of TR except you, so to speak. It was dividend hero - not hero as you provocatively renamed it.

Arb

Yes I did know why it was called a "Dividend Hero" - but the inclusion of the word hero is a most misleading appellation. Simply keeping your investment as currency stuffed into an old sock underneath your bed, and extracting an increasing "dividend" as desired, would apparently match the criterion for a Dividend Hero. But would you call the old sock technique a Dividend Hero? I wouldn't.
Could I suggest that to avoid such techniques with ITs, the AIC should add a further criterion to the Dividend Hero title - "while maintaining its capital value". I won't insist that the capital value be indexed against inflation - but if so, then that really would pick out the heroes. Otherwise I will stick to my original point - I cannot see how an investment with a negative total return over the past 5 years can currently be called an investment hero - of any form.

[scotia]

ITs do seem to strain every sinew to remain in the dividend-hero list, however trivial the increase.

FWIW, a piece of 'research' from Kepler, which may be of general interest:

https://www.investegate.co.uk/tr-proper ... 00051227J/

Yes - ITs straining every sinew - it must be a good selling point.
Back to the 'research' (your apostrophes) - thanks. So property prices may rise, fall or stay about the same

[Arborbridge]

You knew the answer before you posted. It's because it has maintained its dividend for 12 years. Nobody mentioned applying a measure of TR except you, so to speak. It was dividend hero - not hero as you provocatively renamed it.

Arb

Yes I did know why it was called a "Dividend Hero" - but the inclusion of the word hero is a most misleading appellation. Simply keeping your investment as currency stuffed into an old sock underneath your bed, and extracting an increasing "dividend" as desired, would apparently match the criterion for a Dividend Hero. But would you call the old sock technique a Dividend Hero? I wouldn't.
Could I suggest that to avoid such techniques with ITs, the AIC should add a further criterion to the Dividend Hero title - "while maintaining its capital value". I won't insist that the capital value be indexed against inflation - but if so, then that really would pick out the heroes. Otherwise I will stick to my original point - I cannot see how an investment with a negative total return over the past 5 years can currently be called an investment hero - of any form.

It wasn't called an investment hero, but a dividend hero. If TR Property carried on giving for ever but was only worth what I'd paid into it, I wouldn't complain - it would have done its job. Of course, I'd rather it's capital based increased with inflation, but it actually is increasing over the years (148% over 10 years) so whilst not suitable for you if you want high TR it is a good payer of dividends.