Market's view on Triple Pnt Soc
Published on April 2024
- Complaints about iWEB being consistently slow in payments, with comparisons to Barclays which previously had similar issues.
- Mixed experiences noted with dividend payments from iWEB and IG Index, highlighting iWEB’s generally poor performance in this area.
- Discussions around the timing of quarterly dividends, with a specific mention of expectations for an upcoming dividend date.
- Positive remarks on recent good results and the continuation of a substantial quarterly dividend, suggesting a yield of about 9% on the current share price.
- Detailed analysis of the financial stability provided by the company’s average debt life and inflation-linked rental uplifts, suggesting a secure dividend coverage in the short term and potential rises in the medium term.
- Speculations on the future interest rates and their impact on the company’s balance sheet management.
- Concerns raised about the rent collection rate being stuck at 90% due to issues with specific tenants, Parasol/MySpace, which also affects dividend movements.
- Anticipation and speculation around upcoming quarterly updates from the company, with hints at market nervousness reflected in recent share price actions.
- Questions raised about the validity of the company’s Net Asset Value (NAV), with comparisons to other real estate investment trusts (REITs), and concerns about the management by Triplepoint.
- A discussion on how the company’s rent increases have outpaced interest rates, positively affecting portfolio value, yet market skepticism about NAV persists, suggesting a large discount on shares.