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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)31.36m
- Net income in GBP21.86m
- Incorporated2005
- Employees0.00
- LocationReal Estate Credit Investments LimitedFrances House, Sir William PlacePO Box 273SAINT PETER PORT GY1 3RDGuernseyGGY
- Websitehttps://realestatecreditinvestments.com/
Profile
| Management group(s) | Cheyne Capital Management Ltd |
|---|---|
| AIC sector | Property - Debt |
| ISIN | GB00B0HW5366 |
| Launch date | 13 Dec 2005 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | GBP |
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, 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
- Key Information
- Stock Performance
- Per Share Data
- Efficiency
- Management Effectiveness
- Profitability
- Financial Strength
- Growth Rates
| Company | Revenue (TTM) | Net income (TTM) | Market cap | Employees | Price/earnings (TTM) | Price/book value (MRQ) | Price/cash flow (TTM) | Price/sales (TTM) | EPS (excl. extraordinary items, TTM) | EPS (incl. extraordinary items, TTM) | Revenue per share (TTM) | Book value per share (MRQ) | Asset turnover (TTM) | Inventory turnover (TTM) | Receivables turnover (TTM) | Revenues per employee (TTM) | Return on avg assets (TTM) | Return on avg assets (5 yr avg) | Return on investment (TTM) | Return on investment (5 yr avg) | Gross margin (TTM) | Gross margin (5 yr avg) | Net profit margin (TTM) | Net Profit margin (5 yr avg) | Quick ratio (MRQ) | Interest coverage (TTM) | Total debt to capital (MRQ) | Payout ratio (5 yr avg) | Revenue (YOY change %) | Revenue (5 yr growth rate) | Net income (YOY change %) | Net income (5 yr growth rate) | Capital expenditure (5 yr growth rate) | Dividend (5 yr growth rate) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Blackstone Loan Financing Ltd | 86.59m | 85.39m | 270.13m | 0.00 | 3.40 | 0.9767 | -- | 3.12 | 0.2264 | 0.2264 | 0.2294 | 0.7884 | 0.3229 | -- | -- | -- | 31.84 | 7.63 | 31.89 | 7.64 | 98.75 | 97.03 | 98.61 | 95.17 | -- | -- | 0.0073 | 119.89 | 186.18 | -- | 182.05 | -- | -- | -2.09 |
| Brooks Macdonald Group plc | 128.26m | 6.46m | 273.06m | 485.00 | 43.14 | 1.77 | 16.15 | 2.13 | 0.379 | 0.379 | 7.83 | 9.25 | -- | -- | -- | 264,457.70 | -- | 8.25 | -- | 9.90 | -- | -- | 5.03 | 12.33 | -- | -- | 0.0244 | 72.47 | 3.62 | 3.96 | -64.42 | 1.98 | 1.60 | 8.87 |
| VH Global Sustainable Enrgy Opprtnts PLC | 25.91m | 19.13m | 273.10m | 0.00 | 15.47 | 0.6225 | -- | 10.54 | 0.0446 | 0.0446 | 0.0625 | 1.11 | 0.0567 | -- | 45.14 | -- | 4.18 | -- | 4.19 | -- | 82.98 | -- | 73.83 | -- | -- | -- | 0.00 | -- | 233.62 | -- | 248.81 | -- | -- | -- |
| Hansa Investment Company Ltd | 96.05m | 91.42m | 275.99m | 0.00 | 3.02 | 0.6072 | -- | 2.87 | 0.7621 | 0.7621 | 0.8006 | 3.79 | 0.2336 | -- | 120.74 | -- | 22.23 | 7.82 | 22.26 | 7.86 | 96.93 | 91.79 | 95.18 | 87.61 | -- | -- | 0.00 | 13.64 | 1,346.57 | 33.62 | 858.25 | 38.27 | -- | -27.52 |
| Gresham House Energy Storage Fund PLC | -186.97m | -196.69m | 276.64m | 0.00 | -- | 0.4425 | -- | -- | -0.3445 | -0.3445 | -0.3272 | 1.09 | -0.2553 | -- | -- | -- | -26.85 | -- | -26.90 | -- | -- | -- | -- | -- | -- | -- | 0.00 | -- | -144.40 | -- | -150.71 | -- | -- | -- |
| Real Estate Credit Investments Ltd | 31.36m | 21.86m | 281.93m | 0.00 | 13.31 | 0.8764 | -- | 8.99 | 0.0954 | 0.0954 | 0.1371 | 1.45 | 0.0813 | -- | 9.12 | -- | 5.67 | 4.16 | 6.59 | 5.25 | 86.59 | 84.39 | 69.69 | 66.65 | -- | -- | 0.0679 | 157.96 | 2.26 | 4.41 | 6.35 | 2.59 | -- | 0.00 |
| Henderson High Income Trust plc | 38.61m | 33.34m | 283.55m | 0.00 | 7.36 | 0.9279 | -- | 7.34 | 0.223 | 0.223 | 0.2557 | 1.77 | 0.12 | -- | 10.21 | -- | 10.37 | 5.25 | 11.96 | 6.01 | 87.93 | 83.53 | 86.35 | 80.33 | -- | -- | 0.0613 | 87.42 | 445.51 | -- | 294.34 | -- | -- | 1.52 |
| BlackRock Frontiers Investment Trust PLC | 72.09m | 59.16m | 283.65m | 0.00 | 4.80 | 0.8986 | -- | 3.93 | 0.3125 | 0.3125 | 0.3808 | 1.67 | 0.233 | -- | 16.16 | -- | 19.12 | 5.75 | 20.21 | 5.97 | 84.60 | 76.98 | 82.06 | 69.39 | -- | 608.25 | 0.00005 | 75.08 | 385.55 | -- | 303.03 | -- | -- | 1.57 |
| Jpmorgan Asia Growth & Income PLC | -1.58m | -5.83m | 284.46m | 0.00 | -- | 0.9707 | -- | -- | -0.0564 | -0.0564 | -0.0174 | 3.88 | -0.0044 | -- | -- | -- | -1.62 | 3.33 | -1.63 | 3.34 | -- | 86.59 | -- | 77.27 | -- | -- | 0.00 | 123.48 | 136.64 | -3.51 | 129.28 | -4.21 | -- | 0.00 |
| Schroder Japan Trust PLC | 65.30m | 61.03m | 289.01m | 0.00 | 4.87 | 0.8365 | -- | 4.43 | 0.5138 | 0.5138 | 0.5497 | 2.99 | 0.186 | -- | 37.37 | -- | 17.39 | 7.67 | 17.79 | 7.94 | 95.92 | 91.83 | 93.46 | 86.75 | -- | -- | 0.0287 | 29.02 | 85.56 | -- | 94.66 | -- | -- | 18.13 |
| Biotech Growth Trust PLC | 79.73m | 74.60m | 291.89m | 0.00 | 4.35 | 0.8786 | -- | 3.66 | 2.18 | 2.18 | 2.21 | 10.79 | 0.2066 | -- | 10.60 | -- | 19.33 | 4.08 | 21.57 | 4.44 | 94.75 | 75.60 | 93.57 | 72.19 | -- | -- | 0.1153 | 0.00 | 320.38 | 24.49 | 280.64 | 28.73 | -- | -- |
| JPMorgan US Smaller Co Inv Trust PLC | 16.87m | 12.27m | 292.27m | 0.00 | 26.36 | 1.15 | -- | 17.33 | 0.1912 | 0.1912 | 0.265 | 4.40 | 0.0577 | -- | 15.50 | -- | 4.20 | 7.68 | 4.52 | 8.19 | 79.31 | 89.15 | 72.73 | 85.11 | -- | -- | 0.00 | 7.90 | 177.43 | -- | 147.09 | -- | -- | 3.71 |
| Fintel PLC | 68.90m | 5.90m | 292.77m | 494.00 | 51.71 | 3.08 | 25.68 | 4.25 | 0.0567 | 0.0567 | 0.6618 | 0.9502 | 0.4973 | -- | 5.56 | 139,473.70 | 4.55 | 8.18 | 5.50 | 9.71 | -- | -- | 9.14 | 15.64 | -- | 11.22 | 0.1503 | 34.58 | -2.41 | 5.07 | -27.55 | 20.04 | 44.35 | 2.63 |
| Literacy Capital PLC | 29.26m | 20.88m | 294.94m | 0.00 | 14.17 | 0.9343 | -- | 10.08 | 0.3457 | 0.3457 | 0.4852 | 5.24 | 0.0913 | -- | 91.78 | -- | 6.52 | -- | 6.64 | -- | 90.24 | -- | 71.36 | -- | -- | 18.58 | 0.0246 | -- | -- | -- | -- | -- | -- | -- |
| Baillie Gifford European Growth Trst PLC | 28.58m | 25.14m | 295.24m | 0.00 | 12.00 | 0.6618 | -- | 10.33 | 0.0708 | 0.0708 | 0.0799 | 1.28 | 0.0644 | -- | 5.50 | -- | 5.67 | -0.1853 | 5.68 | -0.1878 | 90.82 | -101.85 | 87.97 | -68.24 | -- | -- | 0.1142 | -- | 110.14 | -- | 111.50 | -- | -- | -31.74 |
| STS Global Income & Growth Trust PLC | 13.66m | 10.38m | 295.72m | 0.00 | 21.04 | 1.05 | -- | 21.65 | 0.1122 | 0.1122 | 0.1448 | 2.24 | 0.0435 | -- | 0.4468 | -- | 3.30 | 6.03 | 3.89 | 6.44 | 84.37 | 90.61 | 75.98 | 83.15 | -- | -- | 0.0468 | 43.25 | 1,268.61 | -10.02 | 337.80 | -12.45 | -- | 0.9112 |
| Holder | Shares | % Held |
|---|---|---|
| Close Asset Management Ltd.as of 31 Mar 2024 | 21.06m | 9.49% |
| Hargreaves Lansdown Asset Management Ltd.as of 31 Mar 2024 | 14.45m | 6.51% |
| Canaccord Genuity Wealth Ltd.as of 31 Mar 2024 | 13.32m | 6.00% |
| Premier Fund Managers Ltd.as of 10 Jun 2024 | 12.43m | 5.60% |
| Evelyn Partners Investment Management LLPas of 24 Sep 2024 | 11.07m | 4.99% |
| Waverton Investment Management Ltd.as of 30 Apr 2024 | 10.13m | 4.56% |
| Brooks Macdonald Asset Management Ltd.as of 31 Jan 2022 | 4.48m | 2.02% |
| Jupiter Asset Management Ltd.as of 31 Jul 2024 | 4.00m | 1.81% |
| AXA Investment Managers UK Ltd.as of 30 Sep 2022 | 3.25m | 1.47% |
| Liontrust Multi-Asset Ltd.as of 30 Sep 2024 | 2.29m | 1.03% |
