Callun
09 Feb 2017
Re: Divi payment due Wed 8th Eadwig,Thanks for your reassuring response.A quick google produced a reasonable further explanation from the British Land website.[link] also expains why I have received the payout as separate amounts, though which is PID and which is non PID I don't know. Hopefully I will receive the balance at some date since I am holding in a ISA account.I have had similar payout splits with WKP.Will look more closely when I have more time, though as you say there may be some accountants out there who can offer a simple and better explanation from their knowledge rather than me from google.Callun
Eadwig
08 Feb 2017
Re: Comptetion Rhigos, "Good point and good for my BKG shares."Just because they're rich parents, doesn't mean they put their kids in penthouse flats in London, while they are supposed to be studying!I had an Omani friend whose parents bought a flat in Maida Vale for his studies. I bet they wouldn't be buying there today since St Pancras and Kings Cross have had a makeover (this was back in the early 90s). Although from Oman, his parents went to Baghdad for his birth, specifically so that well known city would be on his passport. He now works in New York and got enough trouble over that before the latest Trump proclamations. I digress ...Far more likely to benefit in Telford Homes, where the average London price is £600k or so for an 'affordable home', more than adequate for a foreign student (I used to keep one in a cupboard at my Camden office). TEF's last update showed that their major project was attracting a large percentage of buyers from 'cities all across China'.Says something when a house builder focussed on affordable homes within 'London' (above project is actually in Stratford, which I don't really class as London myself) is selling more than half to Chinese property investors. I'm not sure what its saying, but its certainly something.
Eadwig
08 Feb 2017
Re: Divi payment due Wed 8th Callun, there is a tax involvement and the accounting for it is all a bit odd, because its is for past years, I think. Checkout the fundamentals tabs on ii and look at the divi payments and especially the dates - which look all out of order at first glance.That's because they are! ii have handled the tax by terming any amount paid from which it is deducted a 'special' dividend. Other sites show it differently.The good news is, I believe I'm right in saying that only one of the four quarterly divis is affected in this way. I think I may also be correct in saying payments into ISAs and SIPPs are not affected (can't log in to confirm that at the moment, but I know my initial purchases in my trading account I later realised were in the wrong account due to this issue. I sold most of that tranche (at the very top by a fluke, it transpires) and re-bought in my SIPP a couple of days after the Brexit vote. Nice bit of business that, made up for the tax I had to pay and much more! Although I left some in the trading account so still getting hit there by this issue, but can at least confirm that you wont see this problem again until this time next year (i.e 3 more quarterly divis to come that are not handled in this way, but where 1.55pps means exactly that).As you can tell, I'm a long way from being a tax accountant. No doubt someone with a better grip on the legal status of REITs and our tight-fisted government will be able to put it into more comprehensible terms for you.
Callun
08 Feb 2017
Re: Divi payment due Wed 8th Can someone please explain the divi payout today?TD direct have paid me 2 amounts. Added together they equate to 1.364 pence per share. Why 2 amounts?Is there a witholding tax to come?Previous payouts have been correct and all in one payment.Callun
Rhigos
08 Feb 2017
Re: Comptetion Eadwig, " The very richest buy a property outright for their kids to stay in while studying." Good point and good for my BKG shares.DIGS will have to rely on rich not very rich parents of students from overseas. A play on London property prices as well of course as NAV of DIGS will depend on property value. ESP's SP will be linked to wider property prices but these have historically not moved at the same upward rate as London.
Eadwig
08 Feb 2017
Re: Comptetion Dependa how rich the foreign students are, Rhigos. The very richest buy a property outright for their kids to stay in while studying. This has been true since at least the 70s when 'Arab' families were looking for off-shore investments.I saw a report the other day that said 75% of all London housing is currently being sold to foreign investors. Specifically China, Hong Kong and 'Mid-East' oil producing countries (the same people that the term 'Arab' was used to cover in the 70s even though many may be Persian or other ethnic groupings).
Rhigos
07 Feb 2017
Re: Comptetion More competition from GCP Student Living (DIGS): "The Company was admitted to trading on the London Stock Exchange (Specialist Fund Segment) on 20 May 2013 as the UK's first REIT focused on student residential assets.". Now in normal fund segment.They have an equity placing, to raise a minimum of £42.5m and maximum of £90m, offering shares at (IMO smallish) discount to market price at 140p. I am going to try to double size of my DIGS holding and have instructed my broker company accordingly. I need to sell a few shares in my ISA by Monday to raise more cash (RB. perhaps at about 1% loss). Took some profit on PSN by top slicing today to raise cash a bit of cash in ISA.DIGS are raising cash to buy property in London to rent to students. Seems to me like a good time to buy in London while prices have eased a bit. Rich foreign students preferred UK location is London. IMO DIGS is lower risk than ESP but I could be wrong.
peter55
07 Sep 2016
I'm not so sure that there will be a further IPO imminently. I don't have the numbers to hand but from recollection they said they would raise £165m in equity over 12 months from 1 March 16, of which they raised £125m in mid March 16, ie only £40m left which I imagine could be more cheaply raised by a institutional placing then new public offer. I'm not clear if the original 165m can be increased or not. Also, given target LTV of 35% and low yields on offer they might go for more loans, similar to today's announcement. That said I'm a holder as this is a great asset back index linked quasi bond, when all bonds are sky high.
peter55
28 Jul 2016
I thought they said that div would rise by at least RPI, so would hope might be looking at 6.25p for next year as developments start to kick in. Either way this looks attractive to me as a asset backed index linked bond. Also, pays much more than Unite and GCP student living, although if I am correct they are both not REITs. Interesting to see Unite's yield when it does convert. One thing I am not sure about is lack of information regarding new developments, seems to have gone very quiet post Brexit but maybe to be expected.
peter55
21 Jun 2016
Back to normal behavior for stock price I guess, ie large trade closing auction on the offer price. I would not want to be short this one as the large holders seem solid and I cannot imagine trying to work an order to buy back 16m in market. Lack of information as to price move drivers available on some stocks of about 500m market cap is infuriating!
peter55
17 Jun 2016
Stock loan suggests being shorted. Certainly strange movement compared to recent strength when looked like going above 116p. At last investor presentation they specifically answered a question that would not be significantly impacted by brexit so I'm not too worried about that. Don't see logic in shorting this stock as asset backed and a nice 6p dividend. Also, to close it out will not be that easy. Has not been much recent news re developments but would expect they are holding off until after vote. Interesting to see how this one goes, I'm tempted to top up but as always in such a drop will probably not have the bottle!
peter55
28 May 2016
esp
peter55
27 May 2016
esp
peter55
19 May 2016
Also, the most they can raise in the year to March 2017 is a further £40m (share issuance programme was for 165 and 125 already raised). And soon an aditional div of 1.5p per quarter should be announced. I like the share as high yield, asset backed in a good segment, premium accomodation of a growth market (student accomodation) and non-London based. Wish I had bought more at recent offer, but from calculation as below I am not sure that Iwill be able to wait for next offer. Any thoughts?
peter55
19 May 2016
I am a small holder and like the look of the share. By a back of the envelope calculation, they raised £125m equity in march, plus loan of £80m (and there was a £40m Canada Life loan from 1st March), and they have spent about £100m since the equity raise, ie they still have £105 to £145m free to invest.
