Investment Trusts

Real Estate Credit Investments Limited

RECI:LSE

Real Estate Credit Investments Limited

  • Price (GBX)116.50
  • Today's Change0.50 / 0.43%
  • Shares traded18.29k
  • 1 Year change-9.34%
  • Beta0.6653
Data delayed at least 20 minutes, as of Apr 29 2024 09:03 BST.
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Profile data is unavailable for this security.

About the company

Real Estate Credit Investments Limited is a Guernsey-based closed-end investment company. The investment objective of the Company is to provide shareholders with attractive and stable returns, primarily in the form of quarterly dividends, by exposure to a diversified portfolio of real estate credit investments, predominantly comprising real estate loans and bonds. It invests in real estate debt secured by commercial or residential properties in the United Kingdom and Western European countries, focusing primarily on those countries where it sees the changing dynamics in the real estate debt market offering a sustainable deal flow for the foreseeable future. Its segments include the Bilateral Loan and Bond Portfolio and the Market Bond Portfolio. It invests in various sectors, such as hotels, mixed-use, student accommodation, residential, office, co-living, leisure, later living, housebuilding and others. Its alternative investment fund manager is Cheyne Capital Management (UK) LLP.

  • Revenue in GBP (TTM)36.48m
  • Net income in GBP25.84m
  • Incorporated2005
  • Employees0.00
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Profile

Management group(s)Cheyne Capital Management Ltd
AIC sectorProperty - Debt
ISINGB00B0HW5366
Launch date13 Dec 2005
Share typeOrdinary Share
StructureInvestment Trust
Base currencyGBP

Objective

The Investment Objective of the Company is to provide Shareholders with attractive and stable returns, primarily in the form of quarterly dividends. The Company invests in real estate debt secured by commercial real estate in Western Europe, focusing primarily on the United Kingdom and France.

Managed by

Ravi Stickney, Richard Lang, Daniel Schuldes, Arron Taggart, Raphael Smadja

Management & contract fees

Management Fee at 1.25% of NAV. Performance fee is calculated as ((Adjusted performance NAV - NAV per share at the beginning of the performance period increased by an annual rate of 7%) x 20%) x the time weighted average number of core shares in issue in the period since the starting date. Contract terminable on notice period of 24 months.

Peer analysis

CompanyRevenue (TTM)Net income (TTM)Market capEmployeesMarket Cap /
Employees
British Smaller Companies VCT plc15.21m11.99m244.20m0.00244.20m0.00
Manchester & London Investment Trust plc107.72m104.00m245.98m0.00245.98m0.00
Hansa Investment Company Ltd34.64m30.02m246.80m0.00246.80m0.00
JPMorgan US Smaller Co Inv Trust PLC16.46m11.79m247.45m0.00247.45m0.00
Castelnau Group Ltd9.98m-7.78m248.54m4.00248.54m4.00
abrdn European Logistics Income PLC35.13m-59.91m249.39m0.00249.39m0.00
Starwood European Real Estate Financ Ltd34.96m25.25m251.27m0.00251.27m0.00
CC Japan Income and Growth Trust PLC41.93m38.34m254.64m0.00254.64m0.00
Martin Currie Global Portfolio Trust PLC28.46m26.08m256.77m0.00256.77m0.00
Montanaro European Smllr Cmpns Trst PLC32.88m29.03m260.46m0.00260.46m0.00
Real Estate Credit Investments Ltd36.48m25.84m261.28m0.00261.28m0.00
Taylor Maritime Investments Ltd-72.45m-81.32m261.72m8.00261.72m8.00
Intuitive Investments Group PLC-2.45m-3.24m262.98m0.00262.98m0.00
Tufton Oceanic Assets Ltd31.83m28.26m263.83m0.00263.83m0.00
Henderson High Income Trust plc26.02m21.42m273.71m0.00273.71m0.00
Diverse Income Trust PLC-100.00bn-100.00bn283.50m0.00283.50m0.00
Data as of Apr 29 2024. Currency figures normalised to Real Estate Credit Investments Limited's reporting currency: UK Pound GBX

Institutional shareholders

46.41%Per cent of shares held by top holders
HolderShares% Held
Close Asset Management Ltd.as of 31 Mar 202321.06m9.35%
FIL Investments Internationalas of 29 Feb 202415.78m7.01%
Hargreaves Lansdown Asset Management Ltd.as of 31 Mar 202314.45m6.42%
Canaccord Genuity Wealth Ltd.as of 31 Mar 202313.32m5.91%
Evelyn Partners Investment Management LLPas of 02 Apr 202411.32m5.03%
Waverton Investment Management Ltd.as of 29 Dec 20239.53m4.23%
Premier Fund Managers Ltd.as of 30 Nov 20237.32m3.25%
Brooks Macdonald Asset Management Ltd.as of 31 Jan 20224.48m1.99%
Jupiter Asset Management Ltd.as of 31 Dec 20234.00m1.78%
AXA Investment Managers UK Ltd.as of 30 Sep 20223.25m1.44%
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Data from 31 Dec 2023 - 02 Apr 2024Source: FactSet Research Systems Inc.
Data Provided by LSEG
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