Hello everyone.
I currently have a small position in GWI. It is a real estate company in Poland/Romania, that focusses on office buildings, mainly for big multinationals. It is strongly undervalued in my opinion, but there are also some unhealthy factors such as a very high divident payout, I would love to hear your thoughts, since this isn't the most well known stock.
Mathias
The first thing I noticed was that it is traded in Euros - so I looked to see where it is domiciled.
Then I saw that the domicile was in the Channel Islands, so I thought ok that means no stamp duty.
Then I thought it must be a REIT - so looked up the AIC website to find that it is not listed there! ... So my hopes of a regulated dividend payout waned.
So, it is an offshore domiciled investment company that is focussed on property in Poland and Romania. The assets and in Euros, the Bonds that financed the company are in Euros - so that is why it is listed in Euros.
Looks like it was progressing well until CV-19 hit, and then has suffered a financial hit.
I suppose my question would be "Why?". You must have had some reason to choose Globalworth Real Estate Investments (LON:GWI) - beyond a mean reversion post-Covid play on European real-estate?
