Hansteen Share Discussion Threads

[gill17] 20/9/2010 13:21

I agree, there must be something behind this rise of 4p but I don't follow this very closely. Still, it reduces my paper loss and I'm happy to hold.

[rambutan2] 20/9/2010 13:08

No, but good to be back above 70p.

It remains my pick of the reits and closed ended vehicles.

[gill17] 20/9/2010 12:12

Anyone know the reason for the rise today?

[typo56] 08/9/2010 18:44

I think FTSE made a strange decision today to keep CNT in the FTSE250 on the grounds that it is suspended. It means that HSTN has been demoted somewhat unjustly in my view.

[skyship] 05/9/2010 15:34

Superjock - I agree with yr hunch - seems to me that we could soon see a sea change in sentiment in the property sector as institutions recognise the dichotomy between continued low interest rates and property companies on large NAV discounts, containable and reducing LTVs and high single digit yields.

Don't know about Hansteen however - far prefer IRET, MCKS & TEIF - this last being Hansteen's original target, but now down 34% on what they were prepared to pay 6 months ago. You'll find many discussed on this thread:

[rambutan2] 04/9/2010 23:00

in serious danger of departing ftse250...

[topvest] 31/8/2010 22:08

Looks like a good dividend for the full year. 4p/4.2p full year dividend? Anyone know the forecast? 3.8p last year.

[superjock2] 31/8/2010 17:46

Bought a few today, I've been looking to buy into property shares and I like the way the management are picking up portfolios on the cheap. It could be a while before the market starts to buy back into property so I will buy on the down days and wait for the big profits.

[rambutan2] 31/8/2010 16:23

Interims out and nothing in there to make me want to jump ship...

[gopher] 23/6/2010 17:23

This stock is very volatile for a REIT but superficially looks cheap. A double dip recession would make it cheaper still and to date value destruction has been the story for shareholders but as YDDERF rightly observes the management team have it admirers in the industry.

Any technical views

[ydderf] 09/6/2010 19:27

property investment cos can never know if they are buying 'cheaply' enough, neither can investors know if they are buying cyclical propco shares 'cheaply' enough.

in time they are shown either to have got it wrong, and go bust or absorbed and forgotten about, or they get it right and become legends in their own lunchtimes...

helical bar's slade was once a hero, and lazee hacks are still writing him up like that even though helical has missed completley the hottest dealing 12 months for decades

watson and jones admirers like rambutan2 are still clearly in love, and who am i to criticize - we all need heroes - but it looks like that they got it 'wrong'

wrong currency (euro is poison now, not last year though)

wrong sector ( tertiary rubbish is cheap for a reason)

wrong time (we are now entering a demand crunch caused by government reversing spending)

[rambutan2] 08/6/2010 09:08

Sirius results out - paying a div looks a long way off...

[rambutan2] 07/6/2010 13:48

new substantial holder...

[rambutan2] 27/5/2010 13:22

Will reduce nav and value of inc from German and Dutch props, but costs/debt matched in Euros so no damage beyond that. Of course, if Germany was to leave Euro or instigate a strong Euro block, then would go opposite way big time.

Came across this, HSTN's last div was covered...

[ptolemy] 24/5/2010 13:21

Anyone know what impact falling Euro will have, given they are unhedged?

[rambutan2] 20/5/2010 14:07

ydderF,

"Earlier this month (ie march 2010), the Group declared a dividend of 3.2p including a PID of 0.34p (2008: 3.2p) in respect of 2009, which will be paid on 1 April 2010 to shareholders who were on the register at close of business on 19 March 2010. In the Board's view being able to pay a dividend fully covered by Normalised Profit, despite a virtual doubling of the share capital is testament to the strength of the business."

I like Watson and Jones and they've consistenly made money for their investors over many years with their proven strategy of buying cheap ie well below replacement cost, industrial prop, getting tenants in and the yield up and selling on. They are v carefull with leverage. They invest on the same terms at the other shareholders and don't award themselves cheap options etc.

[ydderf] 20/5/2010 13:46

is there a divi?

[rambutan2] 11/5/2010 09:18

for the record, and looks a potentially good deal to me...

16 April 2010

Hansteen Holdings PLC ("Hansteen" or "the Company")

HANSTEEN TO ACQUIRE KILMARTIN PORTFOLIO FOR GBP80.375 MILLION

Hansteen Holdings plc ("Hansteen") (LSE: HSTN), the investor in UK and
continental European real estate has exchanged contracts to acquire a 1.221
million sq ft multi-sector portfolio of 61 freehold and leasehold assets (the
"Portfolio") from various subsidiaries of Kilmartin Holdings Limited (in
Receivership), Kilmartin Group Limited (in Receivership) and Annfield Assets
Limited (in Administration) for GBP80.375 million.

The Portfolio has the following characteristics:

· 1.221 million sq ft across 54 freehold and seven leasehold properties
· 18 properties in England, 42 properties in Scotland and one property in
Northern Ireland
· 24% by value in industrial, 30% in retail, 23% in offices, 8% in leisure and
15% in development land
· 48.2% by value in England, 49.5% in Scotland and 2.3% in Northern Ireland
· Net annual rent receivable of GBP5.596 million, equating to an initial yield
of 7.0% (8.1% excluding land)
· Current vacancy of 58.3%, with an ERV of over GBP8.9 million


The Portfolio is highly compatible with Hansteen's intensive management approach
and the Directors' experience across the UK market. The acquisition of the
Portfolio is to be funded from Hansteen's existing cash resources. It is
intended however that the acquisition of three freehold industrial properties
from the Portfolio will be completed by the Hansteen UK Industrial Limited
Partnership for total consideration of GBP9.465 million.

The acquisition of the majority of the Portfolio will complete on 5 May 2010 and
the acquisition of the leasehold properties will complete five business days
after obtaining the relevant landlord consents.

Ian Watson, Joint Chief Executive of Hansteen commented: "The Portfolio provides
a great opportunity to create significant added value through improving
occupancy levels and imposing our intensive management approach."

Morgan Jones, Joint Chief Executive of Hansteen added: "We have reached an
exchange in ten days and during this transaction have established sound working
practises with the Administrators, the Receivers and the Bank and have
consolidated relationships we hope to build further on in the future."

[topvest] 04/4/2010 21:01

Still a good deal from what I can see; it was a distressed seller as well I believe, as the properties had breached their covenants. Hansteen seems to make sensible moves and management are strong.

[ydderf] 04/4/2010 08:20

Doolittle, hardly compelling is it?

I am surprised it hasn't fallen further

The German aquisition is a mistake imho, if you want German exposure you can get better value elsewhere, including locally quoted German propcos

Hansteen is buying there because there us now little prospect of picking up distressed uk properties from the lenders - conditions have changed. you cant have a recovery in uk commercial investment values as we have seen over the past six months and expect the banks to still sell at last years prices for the benfit of Hansteen and Max and Conygar....

[typo56] 17/3/2010 08:10

Don't forget to include the 3.2p dividend. Gone ex div this morning.

[gill17] 15/3/2010 15:02

You seen to be right Typo, nice rise today, lets hope it continues....

[typo56] 11/3/2010 10:32

I reckon this should rise towards the end of next week as HSTN enter the FTSE250 index on Monday, 22nd March.