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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Capital & Regional Plc | CAL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.50 | 0.97% | 52.00 | 16:35:13 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 51.00 | 51.00 | 51.60 | 52.00 | 51.50 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT & SERVICES |
| Top Posts |
|---|
Posted at 21/8/2023 00:43 by 2wild Doubt many REIT investors Think property is a sure thing, with most on 25 to 40% discounts to NAV, with Several near 45% plus.Just like in first few months of 2020, when you could buy REITs yielding 12% on 50% discounts, there will be big Winners and losers. I picked up AEWU at 63p. Up over 50%, AIRE 43p up 40% and RGL at 65p, Down, 35%. Excluding dividends Over the last 3.5 years or so. AEWU maintained. It's 2P quarterly dividend, paying out 28p in last 3 years 6 months , giving a 100% return if you brought near the bottom. |
Posted at 16/8/2023 06:44 by spectoacc Have no doubt Growthpoint will take them eventually - question is, at what price. They'll own enough of decide themselves what that is, or they could go down the traditional delisting route, leaving you with shares in a co that doesn't trade.Otherwise, agree it's interesting to see how zero rents are potentially a thing, simply to save the business rates/service charges. Too many REIT investors think property is a sure thing, but if/when recession comes, it'll quickly become apparent what a millstone unlet property can be (6 months rates relief for Industrial, only 3 months for Office/Retail). |
Posted at 15/3/2021 10:25 by 1nf3rn0 Shares of Capital & Regional are worth holding onto, the Sunday Times's Sabah Meddings said in her 'Inside the City' column.The tipster pointed out how the shopping centre operator was outperforming rivals on several key metrics.Furthermore, its net asset value was 75% higher than its current share price, a possible indication of an "opportunity" for investors, Meddings also said.Year-to-date, CapReg's rent-collection was running at 60% and a spate of deals may boost that figure to 70%, versus 41% at Hammerson.In parallel, Hammerson's net asset value had plummeted 85% to 85. |
Posted at 24/6/2019 17:34 by swindon41 The (theoretical) rent reduction of 12% and higher yield/discount rate of 6% is probably not pessimistic imho - CVA's looking for 50% rent reductions, being offered 20-30% apparently. I think investors will want retail yields of more like 7-8% for non prime sites, so NAV's could actually fall quite a bit more than your example. It is worth modelling these examples - yes, theoretical largely - to see what happens to NAV if rents fall. I believe they will. |
Posted at 24/6/2019 14:16 by swindon41 I mentioned WHSmiths more because they are heard pressed to compete - albeit OK at the moment - and are going to be negotiating hard with CAL for rent forgiveness/rent reductions as much as anyone else....they have a trump card to play in that they ARE one of the few large space-renters /high street retailers doing OK and boy do CAL need them to stay........my biggest fear for CAL is the business model: it's based on large amounts of debt that is serviced by ( ever upawards increasing) rental flows as retail high street tenants compete with each other for the valuable space that CAL centres occupy. The model is broken - and in my view for good. I'm commenting here more as a property valuer than an investor; previously the dice have been loaded in favour of landlords: now it's with the tenants and their valuers. If I'm correct, you're likely to see rentals falling, void increasing and bad debts rising - all leading to falling NAV's. If that happens, it will mean one thing: Gearing Covenants being broken and the owners of debt taking control and at best if CAL are to survive it will be via debt for equity swaps. Make no mistake, if that happens equity gets decimated.All imho and DYOR as I could be way out ( I was wrong about the speed with which CAL's share price has plunged) . If you still believe in retail, perhaps better to invest directly in those you think will survive like WHSmiths if you think they have a compelling long term business offer. |
Posted at 21/3/2019 12:01 by swindon41 Thanks for the investment lesson Marky.....I know who to turn to for advice in future. Net Debt acc to the annual report is increasing - by 2%. Perhaps you could advise CAL that their report isn't factually correctThe fact that peers are also struggling kinda makes my point don't you think? Avoid the sector or select those that stand out for good reasons and that work WITH local towns & communities not AGAINST them. CAL appears hellbent on driving the people of Luton against them and ultimately that will back fire as footfall already shows and long term sentiment is driven down. This imoakcts on rental demand, alongside the huge rental space about to be given up by M&S - and in all probability Debenhams. Institutions are watching very carefully how CAL handles the next retail assault after Brexit. By the way, ask CAL about rent holidays and other incentives needed to keep up rent premiums that don't need to be declared in the accounts but DO impact on the life blood of CAL - cash flow. Also take a careful look at rent arrears and bad debts - these will be coming under increasing pressure but may not Be fully provided for - it's an accountants' art on how to massage the books for investors but doesn't represent the actuality of bloodshed on retail high streets. I should ask CAL what their accounting policy is on this. Add all these together alongside a long drawn out legal battle & QC costs - and a massive distraction of management time - that CAL seem set on as they are running scared of the newly approved Newlands mixed development in Luton, and no wonder the stock price is falling to an all time low! It's your money, and good luck if you choose to invest your savings in CAL when you can achieve dividends on far safer more reputable stock elsewhere? I know where my hard earned is going and it ain't in the high street! |
Posted at 18/12/2018 12:32 by swindon41 This is only going one way - share price in free fall, retail sector battered, a business model that's broken, malls that are grotty and lowest end of the market, and management that's in denial....a CEO who seems more interested in pursuing very dodgy dubious PR 'techniques' and a personal vendetta against the likes of Luton Town FC ....the strength of feeling against C&R in towns like a luton is tangible and institutional investors are becoming increasingly concerned about reputational issues....dividend is the only thing proppping up the share price, but income will become increasingly under threat as more shops struggle into 2019 and impact of U.K./global rcession.I'd avoid like the plague. AIMO. DYOR. |
Posted at 09/5/2013 12:27 by bankboy001 9 May 2013 NOTIFICATION OF INTEREST DISCLOSURE PURSUANT TO SECTION DTR5 OF THE FSA DISCLOSURE & TRANSPARENCY RULES On 8 May 2013, the Company received notification that Henderson Global Investors has an interest in 47,839,383 Ordinary shares of 1p each in Capital & Regional plc. This represents 13.68% of the issued share capital of the Company. END |
Posted at 06/6/2011 16:17 by 1nf3rn0 Did we miss some updates on holdings from Laxey Partners?"On 30 July 2010, the Company received notification that Laxey Partners Limited has an interest in 19,017,367 Ordinary shares of 1p each in Capital & Regional plc. This represents 5.42% of the issued share capital of the Company" But according to the CAL website Laxey held over 30 million shares on 18th March 2011, almost 9%. Today's SL announcement (plus the Laxey holdings which I hadn't notice increase) means that the top 5 shareholders now hold over 50%, so room for deals to be done if ParkDev, for example, wish to make a takeover approach. |
Posted at 15/7/2010 11:54 by nilip Capital & Regional MALL FUND RESTRUCTURING: NOTEHOLDER VOTE Capital & Regional, the co-investing property asset manager, and Aviva Investors announce that at a Noteholder meeting held today, the proposed changes to the terms of the Mall Fund Secured Rate Notes and Inter-Company Loan which were set out in the Company's announcement on 10 June, were successfully approved. As announced on 7 July, the Fund's Unitholders had already approved the changes. The restructuring will become effective shortly once a limited number of conditions precedent have been satisfied. Capital & Regional acts as the Property and Asset Manager for the Mall Fund, and Aviva Investors act as Fund Manager. |
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