Real Estate Credit Investments Limited
RECI.L
London Stock Exchange117.00
GBp
+1.50
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Real Estate Credit Investments Limited
RECI.L
(London Stock Exchange)
Recent
price
117.00
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Real Estate Credit Investments Limited (RECI) is a Guernsey-domiciled, closed-ended investment company listed on the London Stock Exchange that provides shareholders with attractive and stable returns, primarily through quarterly dividends, via a diversified portfolio of real estate credit investments. The company, founded in 2005 and headquartered at Frances House, Sir William Place in St. Peter Port, Guernsey, invests predominantly in real estate debt secured by commercial and residential properties across Western Europe, with a primary focus on the United Kingdom and France; its three main reportable segments comprise the Market Bond Portfolio featuring listed real estate debt securities such as commercial mortgage-backed securities, the Bilateral Loan and Bond Portfolio encompassing self-originated senior real estate loans and bonds, and Equity Securities, spanning sectors including hotel/leisure, living assets, mixed use, office, and others. Externally managed by Cheyne Capital Management (UK) LLP, RECI targets high-quality assets with substantial sponsors, maintains geographic diversity backed by varied financial assets, and employs net effective leverage around 35%. In recent developments, RECI has sustained its quarterly dividend at 3.0 pence per share, declared a second interim dividend in November 2025 bringing the total interim payout to 6.0 pence unchanged year-over-year, and launched multiple share buyback programmes including a new £10 million initiative announced in September 2025 following prior programmes in March 2025 and extensions through September 2025 to address its share price discount, with £9.1 million repurchased since August 2023; the company also reported increased loan repayments, deployed £17.1 million in August 2025 into a senior loan for a Canary Wharf office lease-up, achieved NAV total returns of 5.9% for the half-year to September 2025 amid a stable NAV per share, and continues active portfolio management to recycle proceeds into higher-yielding senior loans while navigating market challenges like inflation uncertainty and loan book diversity constraints.