Invista Share Discussion Threads

[sleepy] 15/8/2011 17:15

SKYSHIP
I have bowed towards the Dordogne this afternoon
Sleepy

[stupidboypike] 15/8/2011 16:30

SkyShip, better and better, thanks for that.

Best regards
SBP

[skyship] 15/8/2011 16:29

SBP - Welcome. Incidentally the EPRA NAV discount = 33.8% @ 37.75p. The EPRA NAV of 57p ignores the Mark-to-Market adjustment, which would only have had a bearing if debt repaid early.

[stupidboypike] 15/8/2011 16:23

Well I've finally joined in at IFD in a small way. I'm usually the kiss of death so I hope not on this occasion. Thanks for the heads up on this everyone. It does seem difficult to see how a 9.3% yield with a discount to NAV of 25% or so can be too bad!!

Best regards

SBP

[skyship] 15/8/2011 16:21

36.75p-37.75p - this is where I thought we'd be at the open rather than near the end of the day. On this occasion the Market has generously allowed a few people to add or open their account at very generous prices.

Incidentally, there have been 18 trades on PLUS so far - totalling 156k, all of them buys...

[alanji] 15/8/2011 15:43

The price is moving but I think it may need the formal announcement before we see a real move and, as you say, it is August. Analysts presentation now available Look at the rental chart on page 9. On course to cover the dividend by 2013. Very good reading.

[skyship] 15/8/2011 13:36

Ah yes - I'd forgotten that - even though I looked up that info when I wrote to him last week!

Incidentally - we're now 36p Bid.....eventually

Still offered @ 36.5p for a 9.6% yield!

I've been truly astonished at the lack of reaction to that S. Times piece; still I suppose it is August and most PIs have retired hurt.

[alanji] 15/8/2011 12:39

Not what you know - who you know:

Mr. Andrew F. Sykes is Independent Non-Executive Chairman of the Board of Invista Foundation Property Trust Ltd. He was a director of Schroders plc from 1998 to 2004, having joined Schroders in 1978. He was responsible for the group's private banking and alternative investments businesses, including property, private equity, structured products and hedge funds.

[skyship] 15/8/2011 08:57

Someone has managed to buy 25k @ 36.25p - a very good deal that. The move has started; they will be 36p bid in next to no time...

[skyship] 15/8/2011 08:40

Hieronymous - Apologies, you are right it would seem. The Market so far has totally ignored the weekend article - for now at least; and perhaps will continue to do so until the deal is actually announced. Thereafter I expect the rise I mentioned - see below

HE - I am bullish on the "News" - though it seems we will have to await confirmation. The point is that Schroders is the UK's largest investment property manager & perhaps the largest wealth management operation as well. It seeems inconceivable to me that IFD will languish near a 10% yield and 37% EPRA NAV discount once they are confirmed as the managers:

[hieronymous1] 14/8/2011 21:45

SKYSHIP

I hope you are right and if so I will bow in the direction of the Middle East, that being where the prophets come from.

But as Horndean Eagle said:
"The deal between Schroders and Duncan Owen has been mooted around for a while now." As such, I will be pleasantly surprised if there is much reaction to the rumour becoming fact. Which does not rule out reaction to other events or the influence of the whole market.

Unfortunately alcohol tends to send me to sleep these days. So I stick with tea, coffee, fruit juice or water if desperate. Just emptied a most enjoyable pint pot of Lapsang Souchong.

[horndean eagle] 14/8/2011 19:43

You are far more bullish than me Skyship. I don't think we will see any meaningful buying any time soon. Just had a look at the others in the sector and Schroders don't seem to hold any notifiable holdings in the other trusts. That would have been handy as they might have switched money to over here. You may see a bit of buying now that the uncertainty looks to be over but I don't think we will go anywhere above 38-39p soon. Happy to be proven wrong though.

[skyship] 14/8/2011 18:18

HE - hadn't picked up on that. Yes, I believe it to be inevitable that they will try to take on as much as they can, initially up to 40p.....thereafter 44p/45p level as they fail to trigger sufficient sellers in size.

[horndean eagle] 14/8/2011 18:13

The deal between Schroders and Duncan Owen has been mooted around for a while now. Its not really a shock. You would hope now Schroders look to be taking over they might get a few of their funds to buy some shares.

[skyship] 14/8/2011 17:49

Hieronymous - I regret to say you seem to lack any stockmarket sense; or you've been at the weekend juice. Might I suggest that after you've seen the market reaction tomorrow morning, reread everything on this thread, draw some conclusions then post why in your opinion the share price rose....

[hieronymous1] 14/8/2011 17:29

I wrote my last before seeing any post (16:26) after Jimbo's of 12:19.

A change of management company with the same human beings doing the managing might save administration charges but not change much else.

[hieronymous1] 14/8/2011 16:26

The Sunday Times is of course owned by Rupert Murdoch so the information may have been obtained illegally. Or it may be simply made up. Time will tell.

[skyship] 14/8/2011 16:20

So, the appointment of Schroders as the new Investment Manager; with Duncan Owen and his team joining Schroders to continue managing the portfolio.

As you say, it suggests no bid; but certainly underlines the value we've been espousing; and with the blue chip Schroders managing and no doubt buying.....we should see the start of a good run up to the 44p/45p level.

[alanji] 14/8/2011 16:16

Paid my £1 and read the article. It looks as though it is just the appointment of Schroders as managers, not a bid. Still should help the share price.

[skyship] 14/8/2011 15:57

Yes, the presentation read much as one would expect - plenty of positives, plenty of income producing opportunities. It is why we bought. Just surprising that they have remained so low for so long. The result - A BID............possibly!

What level do you think would be acceptable?

[alanji] 14/8/2011 15:52

Thanks jimbo
Could be very good news and it would explain why Owen lead the 2011 finals presentation to analysts. Very positive presentation and it looks as though the plans to increase dividend cover are on track. I am told the presentation should be available on the co website from tomorrow.

[skyship] 14/8/2011 15:08

jimbo - can you elucidate - unfortunately unable to see online. Remarkable news if proves to be the case. What level would shareholders accept? 48p perhaps?

[jimbo3352] 14/8/2011 12:19

Interesting article in the Sunday Times suggesting IFD is about to be acquired by Schroders. Whilst this may be good news for shareholders??, I find it very annoying to hear this sort of thing from the press rather than the company. ST suggests Duncan Owen will join Schroders and continue to run IFD.

[horndean eagle] 11/8/2011 11:22

I wrote to them a while back suggesting they should wind the thing up and return cash to shareholders like IERE. Obviously fell on deaf ears. Don't understand why the larger holders didn't do the same. Its not as though they think the shares are attractive or else we wouldn't be sitting on such a huge discount.