Hardman & Co Research
Hardman & Co Research: Real Estate Credit Investments (RECI): 7%+ yield from
well-secured property debt portfolio
28-Aug-2019 / 07:30 GMT/BST
Hardman & Co Research: 7%+ yield from well-secured property debt portfolio
RECI pays investors a high dividend yield (7.3%), covered by predictable
income streams generated by an increasingly diversified portfolio of
real-estate-backed debt. Its credit record has been exemplary. In this report,
we detail the procedures that have delivered this performance, in addition to
the benefits from the security taken. Much of the superior revenue yield is
generated from service and structuring skills - among the many synergies
obtained from having Cheyne Capital (Cheyne) as the manager. Corporate
governance appears robust, with a strong board. RECI is exposed to the credit
cycle, some of its loan assets may prove illiquid, and the (modest) gearing is
low-cost but short-term.
Please click on the link below for the full report:
https://www.hardmanandco.com/research/corporate-research/7-yield-from-well-sec
ured-property-debt-portfolio/ [1]
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by clicking on the above link
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Hardman & Co Mark Thomas mt@hardmanandco.com
35 New Broad Street Mike Foster
London +44 20 7194 7622
EC2M 1NH
mf@hardmanandco.com
www.hardmanandco.com
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About Hardman & Co: For the past 21 years Hardman has been producing
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864067 28-Aug-2019
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(END) Dow Jones Newswires
August 28, 2019 02:30 ET (06:30 GMT)
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