Price (GBX)
58.80 -2.00%
Open / Last close
- / 58.80
High / Low
59.80 / 57.20
Bid / Offer
58.80 / 59.60
Special Condition: -
Trading Status: Market Close
As at 01.06.20 20:33:57 - All data delayed at least 15 minutes

BMO Real Estate Investments Ltd instruments

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Equity (1)
Code Instrument name Price Change Type Documentation

Price information

What's this?
Open price
Previous close price / date
58.80 / 01 June 2020
52 week range
41.00 / 93.40
YTD return
1 year return

Instrument information

What's this?
Instrument market cap (£m)
Earnings per share
Dividend (yield)
6.25 %
Issue date
20 March 2006
Market identifier code (MIC)
Country of share register
Market segment
Trading service
Date Time Price CurrencyVolume Trade ValueTrade type Trade flag MIC
01.06.20 17:09:28 58.80 GBX 839 493.33 Off-Book TNCP XOFF
01.06.20 16:16:29 59.25 GBX 168,673 99,938.75 Off-Book LRGS XLON
01.06.20 16:35:06 58.80 GBX 28,702 16,876.78 UT - XLON
01.06.20 16:13:11 59.20 GBX 11,940 7,068.48 Off-Book - SINT
01.06.20 16:12:56 59.20 GBX 17,332 10,260.54 Off-Book - SINT

Equity Research

from BMO Real Estate Investments Ltd
BMO Real Estate Investments - Overview

BMO Real Estate Investments (BREI) is a Real Estate Investment Trust (REIT) which aims to generate an attractive income from a portfolio of commercial property assets selected for their quality characteristics and income-generating potential. One of the key attractions is the yield on the portfolio which has enabled a 5p per share dividend to be maintained over the past five years. On the current share price this represents a yield of 5.9%. The NAV yield of 5.3% compares to 4.4% on the MSCI Quarterly Property Index. BREI is a broadly sourced trust, with all sectors of the portfolio generating a higher income than those in the benchmark. The manager, Peter Lowe, aims to pay a high yield without sacrificing income growth, yet still being mindful of the need to protect capital. Over the year to June 2019, like-for-like income on the portfolio has grown by 4.4% compared to 2.2% for the index. The trust’s outperformance of the index and sector over five years has been largely driven by a superior income return. The trust has net gearing of 26.5%, with £90m of structural gearing maturing in 2026 (roughly 35% of NAV) offset by holdings in cash. This gearing has helped the trust outperform in rising markets but also increases its sensitivity to falling markets. Since taking over in 2016, the manager Peter Lowe has shifted the portfolio to be overweight industrials and reduced exposure to retail, avoiding more troubled sectors such as shopping centres and department stores. Peter has also concentrated the portfolio further in the South East of England. He focuses on locations with alternative uses and strong economic fundamentals, which should support value in a property past the end of its current tenancy, as well as aiding resilience in a downturn. Beyond location, the quality emphasis comes through in an exceptionally low void rate (currently 0.1%), low levels of over-rent, and high exposure to tenants in less cyclical and more defensive industries. The trust discount has widened significantly in recent months as concerns over Brexit have resulted in poor market sentiment towards UK commercial property. The managers believe that BREI is not overly exposed to a hard Brexit outcome, given the quality and defensive characteristics of the portfolio. The shares now trade on a discount of 19.5%, having been at a premium as recently as 2018; this followed the rebound which occurred after the 2016 referendum sell-off.

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Life on Mars: could inflation take us back to the '70s?

Inflation has been relatively tame for the past two decades, yet history suggests it would be unwise to reject the possibility of a damaging period of higher inflation out of hand. Central banks’ post-crisis quantitative easing policies have not led to the high inflation expected by some, but periods of high inflation in the past have been due to very different causes. When looking at the historical record, we see clear signs that the threat of inflation cannot be written off, and so taking out an insurance policy might be wise. Below we consider the potential sources of an inflationary shock to the global economy, and some assets and trusts that offer protection.

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Fidante Daily Digest

RDL Securitisation – Temporary suspension and portfolio update | F&C UK Real Estate – Change in company name

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Monthly Corporate Activity

Fundraising showed signs of picking up this month, and the focus was very much on the renewables sector. First of all there was Renewables Infrastructure Group, which launched a placing programme and an initial fundraising early in the month, targeting up to £170m. It ended up raising just over £300m, having received applications for nearly three times as many shares as were originally available, in an upsized and scaled back issuance. Greencoat Renewables also announced and completed a placing which raised EUR 148m, around 40% more than the target. Another indication of interest in this sector was John Laing Environmental Assets successfully placing around 22m of its shares that were being sold by The John Laing Pension Trust. Finally, with regard to news in this sector, the close of the US Solar Fund* IPO had to be put back after just falling short of its target by the original closing date – closing is now expected to take place on 10 April.

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from BMO Real Estate Investments Ltd
Existing BMO Investment Trust Customer Queries
atBMO Real Estate Investments Ltd
0345 600 3030
New BMO Investment Trust Customers
atBMO Real Estate Investments Ltd
0800 136 420
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