London & Associated Prop... Share Discussion Threads

[sammu] 11/3/2008 22:23

More price monitoring extension stuff today.

Regional & Capital results today gave some indication of market outlook.

Results should be in a couple of weeks I guess.

[ntv] 15/2/2008 09:43

pme
is issued when the price is significantly lower/higher than previous trades in beginning/end of day auctions on lse
as this is a lowly traded share any big orders could force this auctuion process
pme usually caused by 5/10% triggers

[makingheaps] 04/2/2008 15:11

Whatever it means exactly it seems to have triggered todays 8% rise. I presume those 50,000 trades at lunchtime were buys. Could be we are about to get some kind of action

[sammu] 04/2/2008 13:48

I've seen a technical definition somewhere, you can probably get it from the LSE website.
Basically I understand it to be where the price produced by the closing auction is a set percentage away from the pre auction price (5% maybe), so an extension happens to allow a chance for a more realistic reading.

I would think somebody else can do better than that though.

[sper] 04/2/2008 11:57

In laymans terms, what is a price monitoring extension and what significance does it have.

Sincere gratitude to anyone who takes the time to respond thanks

[skyracer] 29/1/2008 17:01

Healthy rise today in real estate sector. Nothing from LAS. But if real estate falls tomorrow, chances are MM's will lower LAS price again. This repeated ratcheting has resulted in an exceptional underperformance by LAS relative to its sector.

[sammu] 27/1/2008 20:36

The Mall in Islington was on the local BBC news this evening. LAS has issued 6mth notification to the tenants and they are complaining. I guess some redevelopment is in the offing.

[topvest] 27/1/2008 19:13

This is a sound long term investment imho. A very prudent board. Steady as she goes. May even start looking at topping up at these sort of levels. Held mine from 30p or so.

[bisiboy] 27/1/2008 17:44

true but,
they dont give two hoots about the share price, as long term
concentrating on delivering the business will mean share price looks after itself.
headline rate for solihul doesnt look very clever, but i am sure they have spotted some opportunity

[sammu] 23/1/2008 13:11

I also just topped up. A number of other property companies are showing signs of share prices stabalising.
I can't see how buying a Solihul arcade could be a better investment than buying back their own shares though?

[skyracer] 23/1/2008 09:03

Might just be approaching the bottom. Returned some of my top-slicing from last year yesterday. 10000 @ 76.8p bought. LAS significantly underperforming the property sector.

[skyracer] 19/12/2007 17:52

Another share buyback. Good. A chunky 250k this time. Steady nerves needed. With interest rates now heading south, negative sentiment on LAS may begin to ease.

[sper] 28/11/2007 14:27

should have known better.

On that basis I'm pretty sure if I short it, it will start heading north.

[sammu] 28/11/2007 13:46

kiss of death there sper! It's not on the fat 50% odd discount to historic NAV that British Land is on yet.

[sper] 27/11/2007 15:54

at risk of speaking too soon - could we have reached the bottom?

[bisiboy] 13/10/2007 10:56

very well said skyracer.

[skyracer] 08/10/2007 08:39

I see the company finally made a purchase of its own shares. Good. First time in over two years since the tender offer. I hope they continue if the share price remains around 100p. Its good use of their cash. Buybacks are earnings enhancing. And whats the point of buying new property at a premium to NAV when you can buy more of your existing property at a 40% discount to NAV.

[skyracer] 05/10/2007 10:45

Another of my investments looking likely to be taken over. WHI this time.

The Heller family must have given an MBO consideration. The 33.1m shares they do not own (43%) are now only worth £32.4m. And I suspect they will also have received approaches. There is more to corporate life than just nose to the grindstone.

Like BBC, HDG and BTB, LAS seems an obvious candidate.

[sammu] 23/9/2007 23:56

Hey guys do you know the date for the EGM?

Sam

[ntv] 22/9/2007 23:01

sp trend has broken new recent low after rns
interesting

[ntv] 22/9/2007 22:58

hhhhm
i sold at prices between 111 and 113p
they make the figures look good but you have to add in the cost of purchasing the building themselves on top of the £4.5m refurbishment cost
valueing a shopping centre at £97m and yielding less than 5%
voids are low
overvalued?

[skyracer] 18/9/2007 11:25

Hi Topvest. Much the same view as yourself. (P36) shows an increase of £631k in historic NAV after the deal. In addition the APL property was valued at £87.5m at 31 Dec (p31) and revalued at £97m on 31 July (p11). But as you say we dont know how much was spent on the property during the 7 months. I suspect an opportunistic deal by the LAS team (BoS wants cash?). Not a good time for LAS share price at the moment.

[topvest] 12/9/2007 21:08

Circular arrived today. NAV at 31 Dec on the JV is £26.3m with the investment properties valued at £29.8m. At 31 July they were revalued at £97m, but it is unclear how much was spent on the properties in the 7m period. Difficult to gauge, but I'm sure management are doing the right thing long term.

[sammu] 12/9/2007 00:28

This is prime retail that they have consolidated under their ownership, but at a relatively full price (NAV). Following the signifiicant redevelopment that is finally coming to an end at Windsor, how much more value can be added? Would this acquisition have met their criteria if they hadn't already owned half of it?

Sheffield letting is good news I suppose, although dev. costs seems a bit expensive.

Looking forward to some info on the London portfolio at the interims later this month.

Sam