|Thank you for the kind words md foetus (my first time speaking to a foetus!),as regards trading,if I can't foretell what the market/stock will do in the next few years,there is not much point in me speculating on what they will do in the next few months/weeks/minutes.|
|Don't worry dj, I've got lots here and am relaxed. It is quite fun to trade as well, the lack of stamp duty means you can buy and sell and make beer money if you can be bothered. This is criminally undervalued, if you buy and hold here you won't go wrong.|
|Added again during week,I've spent tens of thousands on these, easily my worst performer,apart from Providence,Cattles and the many others I have painfully tried to forget(although one should try to remember and learn from one's (many) mistakes)! I think of them as returning 5% annually while on a circa 30% discount to NAV,perhaps I can make back the losses over 50 years?!?|
|Btw, Spanish and Irish economies now really motoring. Italy still a basket case, but our euro exposure is generally in the right area.|
|I don't disagree. Worth noting the current share price is at a 7% discount to the recent share buyback price.
"Completed £100 million share buyback of 9.8 million shares at an average price of 1,020 pence per share, representing a 17.7% discount to Q3-16 adjusted NAV per share"|
|I sold some last week, made a near 10% turn in BRWM and bought back here today. This will move up sharply at some point.|
|I thought this may have risen a bit today after the results of the Dutch referendum.
KWE's portfolio is 44% Europe (Ireland,Italy,Spain) and 56% UK.|
|They are recommended in this month's Investment Trust Newsletter. I am in now.|
|Might bounce today..|
|Agree this is a very good value property stock. Also it's only about 7% above the post brexit referendum price for some reason whereas most others have moved much higher. Not as cheap as UAI which is still on 33% discount but I think worth buying for a bit of diversification.|
|Yes, but good news none the less. and JP Morgan chase reiterate a target of 1325: hxxps://marketexclusive.com/analyst-activity-j-p-morgan-chase-co-reiterates-overweight-on-kennedy-wilson-europe-real-estate-plc-lonkwe/76259/|
|Ta; although even as a holder, I had to suppress a guffaw at:
"...We estimate a 65 per cent probably of a bid for Kennedy Wilson Europe [in the next 12 months]"
Not 64.9% or 65.1%?|
|I think this is a very good buy, hold and batten down the hatches type of stock. Surprised it is so low when the dividend if 5% and well covered. People often forget just how big KWE is.|
|Only just looked through the presentation. Main positives are the risk profile and the effectiveness of the capital recycling. The distribution of assets and liabilities are smooth - no big bumps such as tenant concentration, lease expiration, refinancing, location or even the currency holdings of the cash. On the flip side growth will be muted, and I don't think we will or should see a dividend increase for at least a couple of quarters. They have managed to halve interest rate risk over the year, profit effect of -£1.5m for 100 basis points rise and -£3.8m for 200 basis points.
Performance Fee; Notes 31
I got confused by the 29 million line item in the consolidated cash flow statement for performance bonus. This was actually the actioning of 2015s plan, which was the purchase of shares in the open market. So the cash flow situation is more positive than I thought as this line item will be zero in twelve months time.|
|Solid,positive results, let the Brexit chips fall where they may(or should that be May), KWE is continuing to deliver on all fronts.|
|Agreed, happy with that, not that I've read all 40 sections! A large, covered divi, decent NAV, and not too aggressive gearing are all positives.|
|On first reading look a very decent set of results. Income increasing, 48p divi secure, 20% discount to NAV. Think this should be trading north of £11|
|SpectoAcc - You hit the nail on its head with Dublin. There are too many reasons for this to be worth over £11. Will watch.
|Sterling weakness,the perceived outlook for uk property quite poor,on my watch list too.|
|End of buyback, as @mf spotted, seems to be reason for it returning to a lower trading range.
Can't say I'm too fussed, happy to sit on it for the yield & discount.
Last I looked, c.2/3rds UK exposure, c.1/3rd Europe, with quite a bit of that in Dublin (seen as Brexit beneficiary). Weak £ will have also helped NAV a little.
Price moves been very similar to eg LAND, BLND, GPOR, but not nearly as similar as those 3 have been to each other! Try plotting them over eg 1yr.|
|KWE jumped back up on my list today :)
I haven’t looked at it again yet, but I presume the EU jitters are the reason for the downward trend?
|Italian vote could be really important: if it goes against the EU will have to consider major changes to survive. It could be those changes allow the UK to stay in the new EU, it could be that the EU flounders (and would that mean London becomes even more attractive?). I can see ways it could be very positive for KWE, though the Euro looks overvalued as it is, and so our ex-UK property could suffer a drop in sterling value.
But agree, where else can you buy 5% yield at a 20% discount? (well, NBPE perhaps...)|
|Yes buyback done for time being. Not sure the Italian vote will have that much effect on KWE, but plenty of uncertainty elsewhere.
KWE a value/discount/divi holding for me.|
|Well, is that the 100m spent? I was doing some rough calculations and I think they would have made at least 20m from buying shares and cancelling them, so it should increase the NAV by something like 18p per share. It's all guesswork really until we have visibility on property values, but for now the attraction is surely the 5% yield, though if the Italians lose the referendum that could cause severe uncertainty.|