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Re: Regional REIT.
Posted: July 21st, 2021, 8:31 pm
by ReformedCharacter
MDW1954 wrote:ReformedCharacter wrote:richfool wrote:I paid: £0.87186.
Me, £0.8869
RC
Alas, both being prices that remind us that the heady days of last summer are long gone. Shame.
MDW1954 (In at £0.6680 early October 2020, and even then panicking because I thought I'd left it too late.)
Well played, I wish I'd had the nerve, I put it down to lack of experience
RC
Re: Regional REIT.
Posted: July 21st, 2021, 9:12 pm
by MDW1954
ReformedCharacter wrote:MDW1954 wrote:ReformedCharacter wrote:Me, £0.8869
RC
Alas, both being prices that remind us that the heady days of last summer are long gone. Shame.
MDW1954 (In at £0.6680 early October 2020, and even then panicking because I thought I'd left it too late.)
Well played, I wish I'd had the nerve, I put it down to lack of experience
RC
The real problem was a lack of cash, forcing me to adopt selective conviction postures.
Newriver and HSBC and a couple of others were bigger bets (as part of a HYP income-seeking portfolio), but I didn't have the balls to max out on SREI. Alas!
To be clear, I'm not in it for life-changing capital gains -- I'm trying to build up a decent higher-yield income. And with all these bombed-out REITs on offer, that's been easier than ever, post-March 2020.
MDW1954
Re: Regional REIT.
Posted: August 24th, 2021, 10:43 am
by airbus330
Looks like RGL have off loaded some industrial property for an 18% profit.
https://www.voxmarkets.co.uk/rns/announ ... d8b0165ce/
Re: Regional REIT.
Posted: August 24th, 2021, 11:14 am
by richfool
Thanks for that update airbus. It's reassuring to note they are making profits on their trades. I noted the funds are (still) being recycled into offices (so they must believe offices still have a promising future).
Re: Regional REIT.
Posted: August 24th, 2021, 11:26 am
by Spet0789
richfool wrote:Thanks for that update airbus. It's reassuring to note they are making profits on their trades. I noted the funds are (still) being recycled into offices (so they must believe offices still have a promising future).
More encouragingly still, 7.5% above year end valuation (although to be fair, the economic situation has improved a lot over that period).
Re: Regional REIT.
Posted: August 24th, 2021, 4:37 pm
by airbus330
ReallyVeryFoolish wrote:Disappointingly, that's just reconfirming a previous announcement. I remain optimistic that the management are at the top of their game at RGL.
RVF
You're quite right, I only saw it was OOD news this afternoon. Even so, gives me hope that RGL may become unsubmerged sometime in the next couple of years and in the meantime there is still the div coming in.
Re: Regional REIT.
Posted: September 2nd, 2021, 9:03 am
by airbus330
Re: Regional REIT.
Posted: September 10th, 2021, 1:36 pm
by richfool
From today's Questor in the Telegraph:
Regional Reit has long been one of our Income Portfolio’s most active holdings and last week it announced a further step in the evolution of its mix of assets.
While many property investment professionals and private investors have been moving away from office space and towards “industrial” properties such as warehouses in response to pandemic-induced changes in behaviour – working from home and online shopping – Regional has decided to do the opposite: it is in the process of selling its industrial assets and buying more offices, located outside London as its name suggests.
To that end, on Aug 31 it told investors it had acquired a “major portfolio” of “31 high-quality office assets” for £236m. This compares with a current market value of about £453m, so it is a significant deal. Should we worry when a fund seems to swim so decisively against the tide?
As part of its aim to sell all assets other than offices, it announced late last month the sale of a portfolio of industrial assets for £45m. “The sale was completed at 7.5pc above the company’s Dec 31 2020 valuation and at an uplift of 18pc from the acquisition price after capital expenditure costs,” it said.
In Questor’s view, Regional offers the appealing combination of a coherent and clearly articulated strategy, the management skill to implement it and evidence that it is already bearing fruit.
https://www.telegraph.co.uk/investing/s ... r-returns/Questor recommends a "hold", which is what I'm doing.
Re: Regional REIT.
Posted: September 10th, 2021, 2:30 pm
by richfool
Regional Reit has long been one of our Income Portfolio’s most active holdings and last week it announced a further step in the evolution of its mix of assets.
While many property investment professionals and private investors have been moving away from office space and towards “industrial” properties such as warehouses in response to pandemic-induced changes in behaviour – working from home and online shopping – Regional has decided to do the opposite: it is in the process of selling its industrial assets and buying more offices, located outside London as its name suggests.
I can certainly see the merit, in view of covid, of holding property outside of London, but I'm still slightly puzzled by RGL's pre-occupation with offices, as opposed to warehouses (unless they have a fallback contingency plan of converting them into dormitory accommodation for migrants!
Whatever, I have warehouses covered by my holding of Warehouse REIT (WHR).
I'm not quite sure if SLI has a plan for what it's targeting, - as it's SP is languishing the most of the three..
Re: Regional REIT.
Posted: October 24th, 2021, 12:15 pm
by richfool
I'm a bit concerned at RGL's apparent pre-occupation with and focus on offices (c 83%), which could make it more vulnerable, and note its SP has been languishing in relation to its peers. So I've been pondering whether to reduce, or even sell my holding and use the proceeds to either top up the more diversified SLI and EPIC , and maybe even keep a bit of cash back for other opportunities that may arise. (Maybe add to RICA).
Re: Regional REIT.
Posted: October 24th, 2021, 2:37 pm
by airbus330
I don't think we will see much life in RGL until covid is consigned to an annual inconvenience and whatever the new normal in the workplace becomes apparent. Anecdotally, I read of increasing levels of dissatisfaction with working from home and my gut feeling is that office space outside the M25 might become popular. Since I'm pretty underwater with RGL, but they continue to recover rents at a high %, the management, who have historically been highly regarded, haven't significantly changed, I'm most likely sticking with this until recovery. Fingers crossed.
Re: Regional REIT.
Posted: December 23rd, 2021, 2:09 pm
by BullDog
Very nice to see a year high today for RGL. Mixed feelings about this REIT myself. Offices aren't an obvious place to be doubling down on and RGL seem to be doing just that. Thoughts?
Re: Regional REIT.
Posted: December 23rd, 2021, 4:59 pm
by airbus330
https://twitter.com/RidyardMike/status/ ... 67397?s=20Mike Ridyard lists a good list of reasons to hold on to RGL. I agree with them.
Re: Regional REIT.
Posted: April 8th, 2022, 10:02 am
by BullDog
A generous dividend banked today from RGL. Compared to many REITs, I don't think Regional has had an especially good recovery from the pandemic hit. It's certainly well down from pre pandemic share price highs.
Apart from office space being out of fashion, has anyone got more thoughts on the lacklustre share price at RGL? Myself, I think the company has very good management and the reported death of regional offices has been overdone. Any views here at all?
I continue to hold possibly too much of this REIT but I am interested in others views. Thanks.
Re: Regional REIT.
Posted: April 10th, 2022, 12:17 pm
by Gerry557
They seem to be doing all the right things. I suspect that recovery is happening but interest rates rising and others forecast added to the situation in Ukraine is holding things back a bit.
That should be good if you want to reinvest those dividends.
Debt is a little on the High side but being reduced. Its still within management targets and hedged or fixed from memory.
Once things look rosy, the price will follow and then you might be questioning why I didn't add more when they were lower.
It also depends on your average buy price, some will be looking to see if their profits can keep rising. I think you need to add in the dividends to the overall to get a more realistic return metric than just share price.
Re: Regional REIT.
Posted: April 10th, 2022, 1:31 pm
by BullDog
Gerry557 wrote:They seem to be doing all the right things. I suspect that recovery is happening but interest rates rising and others forecast added to the situation in Ukraine is holding things back a bit.
That should be good if you want to reinvest those dividends.
Debt is a little on the High side but being reduced. Its still within management targets and hedged or fixed from memory.
Once things look rosy, the price will follow and then you might be questioning why I didn't add more when they were lower.
It also depends on your average buy price, some will be looking to see if their profits can keep rising. I think you need to add in the dividends to the overall to get a more realistic return metric than just share price.
Thanks for the comments. Appreciated. Of the REITs I hold, Regional is by far the biggest holding followed by Social Housing SOHO, Big Box and AEW. As you suggest, just sitting and waiting whilst enjoying the handsome yield.
BD.
Re: Regional REIT.
Posted: April 10th, 2022, 9:09 pm
by MDW1954
I hold only a modest amount, but am up 27% since purchase. The yield is still good, and I'll happily buy more. The challenge is that interesting offers keep absorbing the cash! SUPR's open offer this week upset my plans again.
MDW1954
Re: Regional REIT.
Posted: April 11th, 2022, 8:32 am
by BullDog
MDW1954 wrote:I hold only a modest amount, but am up 27% since purchase. The yield is still good, and I'll happily buy more. The challenge is that interesting offers keep absorbing the cash! SUPR's open offer this week upset my plans again.
MDW1954
A nicely timed purchase of RGL for you then. I recall pre-covid, RGL got as far as around 120p share price. So today, we're still a long way from full share price recovery, RGL does seem to be a bad marker in that respect. Myself, I am breaking even at today's share price. Enjoying the yield, some share price appreciation would be welcome.
Re: Regional REIT.
Posted: April 11th, 2022, 11:23 am
by MDW1954
BullDog wrote:MDW1954 wrote:I hold only a modest amount, but am up 27% since purchase. The yield is still good, and I'll happily buy more. The challenge is that interesting offers keep absorbing the cash! SUPR's open offer this week upset my plans again.
MDW1954
A nicely timed purchase of RGL for you then. I recall pre-covid, RGL got as far as around 120p share price. So today, we're still a long way from full share price recovery, RGL does seem to be a bad marker in that respect. Myself, I am breaking even at today's share price. Enjoying the yield, some share price appreciation would be welcome.
Higher up the thread, I see that I got in at 69p in October 2020.
MDW1954
Re: Regional REIT.
Posted: April 11th, 2022, 11:42 am
by BullDog
MDW1954 wrote:BullDog wrote:MDW1954 wrote:I hold only a modest amount, but am up 27% since purchase. The yield is still good, and I'll happily buy more. The challenge is that interesting offers keep absorbing the cash! SUPR's open offer this week upset my plans again.
MDW1954
A nicely timed purchase of RGL for you then. I recall pre-covid, RGL got as far as around 120p share price. So today, we're still a long way from full share price recovery, RGL does seem to be a bad marker in that respect. Myself, I am breaking even at today's share price. Enjoying the yield, some share price appreciation would be welcome.
Higher up the thread, I see that I got in at 69p in October 2020.
MDW1954
Well done. No doubt, that's a great buy for you!