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Today TIX bought another building for $25 mill fully leased for remaining 8.8 years .
Portfolio now 22 Industrial props valued at $526.6 mill mkt cap re $304 mill
Also revised debt facility increased and extended, a margin reduction, LVR stays at <- 55% and ICR cover stays at .> 1.6 times
Funds overall WALE 5.8 years
Last edited by Joshuatree; 17-12-2014 at 11:33 PM.
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And there it is ANI offered .89 Tix share for each ANI and 360 capital group TGP wanting to buy out the responsible Entity.
Last edited by Joshuatree; 18-12-2014 at 11:37 AM.
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Member
TIX trying again for ANI. Is there an opportunity for arbitrage here? Tix at 268 offering .89 Tix for 1 ANI share which is 231.
268x.89=238.5. Makes it a good buy for ANI - in theory.
I notice TIX dropped from 275 to 268 today on the announcement.
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 Originally Posted by KW
A 20c dividend places TIX on a yield of 8.13%. Not a bad place to park some cash while you wait out the correction.
Re 8.5% yield now i read somewhere. TIX $2.45 ; s/p suppressed /manipulated during this snail pace drawn out ANI takeover attempt.
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Shareprice $2.46 atm Gearing approx 41%,Gross assets $615 mill.TIX currently is up to owning 31% of ANI atp. If the merger with ANI does eventually get completed, the s/p should rerate as the mkt cap increase will attract Instos and Brokers and Indexes for inclusion. D/Y may drop a little though.
TIX upgrades FY15 Earnings Guidance by 7.5% & Increases Distributions by 5.0%
Earnings and Distribution Guidance Upgrade
360 Capital Industrial Fund (“Fund” or ASX code “TIX”) is pleased to announce as a result of the underlying performance of its portfolio, FY15 operating EPU and DPU guidance has increased by 7.5% and 5.0% respectively.
FY15 operating EPU is now forecast to be 22.8 cents1 and DPU of 21.0 cents reflecting a payout ratio of 92%. TIX’s distribution for the June 2015 quarter is now forecast to be 6.07 cpu, up from previous guidance of 5.07 cpu.
The TIX portfolio has performed solidly, maintaining virtually 100% occupancy with a long weighted average lease expiry of 5.4 years. Progress has been made with the Fund’s remaining FY16 lease expiries which will underpin the Fund’s stable and predictable cashflow generated from its diverse portfolio of properties and tenants. TIX will continue to look at opportunities to grow EPU and DPU responsibly having regard to its cost of capital.
Last edited by Joshuatree; 01-06-2015 at 07:39 PM.
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Hey KW what happens if TIX don't get to 50% plus.?Do they give shares back ; just sit on their ANI shares and creep or ?. Im blank on the options atm.
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Looking more compelling for ANI holders to accept. 40.2% of voters voted to remove Fife as responsible entity. But of the re 60% who voted no 21% were cast by entities associated with ANI's appointed advisors who are receiving fees $4.4 mill plus for defensive services fr ANI!!.
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cheers KW. Meanwhile tIX announces a higher div and the price keeps drifting from a re $2.72 high until this is sorted one way or t,other. I see your attraction ,
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Some offshore listed investors offering $2.40 for each ANI share. TIX gave .89 TIX for each ANI share equiv to re $2.17 @current TIX price of $2.44. TIX holds 33% plus ANI shares and may have bought an initial stake on mkt; i haven't found this atp.
Last edited by Joshuatree; 21-09-2015 at 02:29 PM.
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TIX increases offer at a volatile time.Equiv now to $2.47. S/P weaker to $2.34 currently.Chart says sell. 5c div shortly.
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Member
KW's suggestion above is looking better and better. TIX down to 233 today.
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