Sirius Real Estate Live Discussion

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devonplay 06 May 2019

Sirius Real Estate (SRE) Investor presentation Thanks for sharing this. Stock I’ve looked at a few times. Something for me to read on Tuesday. DL

holland44 06 May 2019

Sirius Real Estate (SRE) Investor presentation Many thanks for providing this link. Much will be familiar to anyone who’s seen a previous presentation by Andrew Coombs, but his explanation of how SRE is different from other real estate companies is clear and compelling: they don’t just hold, maintain and lease out like a standard real estate company, but act like property developers to intensify useage and adapt their spaces for a variety of markets from micro hotdesking upwards; they also look to control their own marketing rather than work through agents, so they can talk directly to existing and prospective customers and tailor their offering directly. Since they typically hold the improved asset rather than immediately sell it on, they also get an uplift on the yield, which increases assessed capital values still further, ready for the time when they do look to sell certain assets and realise capital for new projects. As he says from around 19 minutes in, it’s the combination of Sirius’ internal integrated platform - which handles everything from site acquisition through development, marketing, site management and maintenance, and all sorts of add-on services like supplying utilities - with deliberately buying and holding real estate assets with their multiple opportunities to add value. SRE are not just property asset holders and they’re not just developers or property managers: they look to do everything via a proactive tightly-managed process in which everyone knows their role. It’s extraordinary that in Germany they are able to borrow at 1.5% for initial purchase and development purposes of sites that are valued at 7%, and that they can buy existing sites at around 60% of the new-build replacement cost. I wish Andrew had spoken more about why this happens. Are new-build construction codes much stricter and more expensive, or are local property taxes/business rates much higher on new-build?

piw 03 May 2019

Sirius Real Estate (SRE) Investor presentation Interesting investor presentation on the German commercial real estate market, in which SRE invests, by the CEO Andrew Coombs. Given at the May ShareSoc London event. Sirius Real Estate (SRE) Investor presentation at ShareSoc 10th April 2019 Presentation by Andrew Coombs CEO. Sirius Real Estate Limited (Sirius) is a real estate holding company. The Company is engaged in the investment in and operatio

holland44 20 Mar 2018

Re: What is happening? But if people had actually read the RNS, the "dilution" is actually for fresh investment in additional assets where SRE knows there is demand for their products: they're not planning just to chuck the money in a hole in the ground or have a company Away Day to the gaming tables of Nice and Cannes. SRE believes its business model can support growth up to 1.2 billion euros, and it is just seeking to do more of what it already does. With much of its rental income already given out in dividends, it's arguably more efficient to raise the capital needed via a share placement rather than, say, take on debt from a bank. For anyone who hasn't seen it, there was a useful Capital Markets Day presentation by Andrew Coombes and others last April, which explains what SRE are all about: see the PDF at [link] and the video at [link]

emisbod 20 Mar 2018

Re: What is happening? ...or is it that the market fears the dilutional effect of the new shares on the SP and is doubtful of them being able to spend the money on value-enhancing properties. [Or fears they want to boost management payout?!]

leftback 20 Mar 2018

Puzzled by movements I have been a SRE holder for around 12 months and I like the target market and dividend. I bought it expecting it to be a fairly boring share. However, it has been quite volatile and it has me concerned about how it is being managed. I am concerned about this new placing that is being sold to 'invited' investors and which appears to have knocked 10% off the price today.Does anyone have any information that might alleviate my concerns?

holland44 20 Mar 2018

Re: What is happening? I see the market has responded to today's RNS with an entirely sensible (not) drop of 10%. Time to top up !

billy punter 02 Feb 2018

Re: What is happening? Agree, I think it will be a buying opportunity. As well as some pulling out, could the reasons for drop be as simple as?--• limited market for this stock, liquidity issues;• there have been comments in Germany, not least from the financial authorities, that there could be a property bubble there;• property funds are held as an income play and the European Bank is scaling back on QE.As a medium/longer term play I think this one will come right.

mark20690 02 Feb 2018

Re: What is happening? A few holders are selling. However, I don't see any fundamental reason for the sell-off. On the contrary, I have been buying today. SRE is doing well, investing in enhancing its properties, and all the relevant indicators are going in the right way. Macro-environment in Germany is also helping. So, on the whole this is a buying opportunity.

leftback 02 Feb 2018

What is happening? Is anyone else watching SRE? Why is it dropping when it should be a 'steady eddie'? Submission will not let me change rating - I am Holder

holland44 08 Feb 2017

Move to Main Market and to sterling People holding these shares are probably already aware, but the company is delisting from AIM and joining the Main Market in London on 12 March 2017. It will also be listed in pounds sterling rather than euros.

Simbrad 27 May 2016

finnCap's note from this morning is up on Research Tree: "Sirius Real Estate continues to deliver on its management promises and we believe the good progress made to date will continue. Allowing for NAV to advance during 2016 from 53c on the back of rental income growth and further yield compression, we have increased our... The shares offer a 4.3% dividend yield at 2.2c, which should approach 5.3% with a forecast 2.7c payment, ignoring any further..."

mcescher 30 Mar 2016

Interesting look at intrinsic value of Sirius Real Estate Looking like a solid dividend payer [link]

mark20690 21 Jun 2015

Re: final results I am still bullish on this despite the slightly cheeky placement that was carried out at below NAV. The benefits from the refinancing should compensate for dilution however, and the macro-environment in Germany continues to be extremely positive despite the current Greek wobbles. The company appears to make intelligent investment choices which will allow it to rent out more of its space at higher prices.

farmerdave 02 Jun 2015

final results Mark - any comment re the results ? Looks as though a little way still to go but going well at present ?FD