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It been a while since my last post, I appologise. It is a full time job keeping up with such a fast moving turbulent market. Having said that this presents some great property share investing opportunities.
One share that I have been keeping my eye on and topping up my holdings in is ING REAL ESTATE INCOME TRUST (IRET).
It is capitalised at its current share price of 45.75p at just over £150m. In its recent results to the end of June it reported net asset of 97p putting it on a current discount of over 50%. The great thing for Income Monkeys is that its current dividend which is 88% covered by income receipts mainly in the form of rent is 6.25p. With my ropey maths that equates to over 13.5% yield.
That to me is worth taking the risk that commercial property values fall further especially given that it already trades at such a discount to underlying asset values.
The share price has currently hit a trading range up from its year low of 41.75p in the mid to low 40p share mark. Any drops below 45p I will definitely be picking up more.
More ideas coming along soon...
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4 comments:
Thanks Income Monkey! Why don't you tell us who you are though, I find taking advice from a sock puppet slightly disconcerting, albeit a monkey in a nicely tailored suit.
Hi Gavin, thanks for the comment. I'm afraid that if the Income Monkey gives up his anonymity his powers of prediction will be lost. It is written in the property share predicting ruines!
I would say in my defence; haven't we being taking advice from those muppets in the City for years with dubious results!
Hello Income monkey, can you provides me some details how to buy the share over the internet. I am interested in buying shares but I don't know how to do it. If will be greatful if you can provide me some information.
Hi I use several brokers but a good low cost one is tdwaterhouse. Go to there website and you should be able to sign up to open an account there.
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