Mckay Securities Share Discussion Threads

[skyship] 08/8/2011 11:17

Certainly that 50k buyer thinks so.......& as you know, I suspect there to be more behind that buyer than mere investment!

Pretty rock solid performance here today. A seller drops 7k first thing @ 121p & 120.75p - now back up to 124.25p bid.

[divinausa1] 08/8/2011 10:34

am i buyer here chasing the nice divi and trading so far below NAV to inviting to ignore imo :)

[skyship] 07/8/2011 15:52

Hmm - frankly a pretty insignificant fall on pretty low volume, certainly hasn't negated upside objectives, though a drop through 120p would delay matters somewhat.

What was significant to me yesterday was that 50k purchase hoovering up the book @ 124p. The reappearance of our chunky buyer, gleefully taking advantage of the blood on the streets...

[crawford] 04/8/2011 16:15

I bet my dividend was reinvested this morning before the fall!

[divinausa1] 23/7/2011 05:36

with higher highs and lower lows since February maybe start to close the NAV gap hopefully...

[skyship] 22/7/2011 08:47

divina - yes, historic reasons now resolved. In fact resolved back in February!

The large discount appears to be worrying Simon Perkins, hence the marked change in tone and regularity of recent RNSs. He would obviously like to close the gap rather than risk a takeover.

[divinausa1] 21/7/2011 14:38

Is there a fundamental reason why its trading so far off NAV?

must be...

[alanji] 21/7/2011 10:33

Excellent to see McKays, the boringly conservative company, issuing no less than 4 announcements (ignoring annual update) this month and announcing to the market that it is doing well.
The annual report was also much more upbeat and aggressive so let us hope that the nav discount of 40% will close sooner rather than later. Absolutely crazy that F&C Property Trust are on a lesser yield - 5.8% compared to MCKS 6.3% MCKS dividend was covered 1.3 times. FCPT dividend was uncovered - 66% cover.
And yet FCPT is standing at a 7% premium to nav compared to MCKS 40% discount. Either MCKS is going to continue its recent rise or FCPT is due for a crash or, more likely, a bit of both.
I hold MCKS and rate it a strong buy.

[sleepy] 21/7/2011 07:41

Yes solid update. Good to see level of vacant space reduced. New tenants very welcome
I think one of the current issues with MCKS is that £6.9 million of annual rental income is at risk over the next 3 years due to lease expiries or breaks

[lord gnome] 21/7/2011 07:24

Solid update this morning. I've been looking for the holes in it but can't find any. Should put a bit of steel into the share price. Looking good!

[skyship] 15/7/2011 12:42

Napoleon - as as matter of interest, when and how did you find us?

As to whether MCKS might trade lower; well if the Sovereign Debt sh*t really hits the fan, then of course, all bets are off for the time-being. However, for those continuing to buy equities rather than hold depreciating cash, then it is the chart below that needs to be borne in mind.

It shows just how much MCKS has been left behind by the rising tide of Real Estate companies.

MCKS is incredibly cheap. Of course it could get cheaper. But I suggest the odds significantly favour the upside. Happily this is the opinion of someone who has had the good fortune to do very well out of property shares...

[crawford] 15/7/2011 11:13

if the pound falls, it will make uk property more attractive to overseas investers

[napoleon 14th] 15/7/2011 09:48

Mathematically interesting, this, although I've never really made £££s out of property shares...

Maybe the current £ turmoil will beat this down a bit, & become better value?

[skyship] 12/7/2011 07:45

Can't imagine this ultra-conservative company putting out such an RNS in past years. A 30k/annum rental is hardly headline news.

Seems as though Simon Perkins is determined to close the NAV gap before he falls victim to a bid; as I believe I commented shortly after the recent Finals when the whole tone of the statement was more open and informative.

[skyship] 07/7/2011 07:51

Divina - thnx for that - can one see any more of their comment somewhere?

[divinausa1] 06/7/2011 23:53

Can we break thru 1.40 this week??
surely cant stay this far off NAV much longer

Oriel Securities forecasts a year-end adjusted net asset value (NAV) of 234p (2010: 223p)

[fhmktg] 06/7/2011 16:12

Bid action coming?
Any views?

[skyship] 06/7/2011 09:19

Chart Update:

[skyship] 05/7/2011 17:25

Well timed LG - now 130p bid, so hopefully breaking clear of the 120s base.

[lord gnome] 05/7/2011 08:36

Morning all,
I've just joined you with a few of these at a tad under 130. I spent my CHU receipts. Prevarication has cost me dear again. I could have had them for 123.6 a few days ago. They seem to be a solid market at the present.

[skyship] 05/7/2011 07:28

graham - quite right; however you're forgetting that the apparent accumulating extends back 10months.

Of course, no reason at all why the trades shouldn't be loads of different parties. However there does seem to be a pattern to the trades.

[grahamburn] 04/7/2011 20:20

SKYSHIP.

Think you may be harping on tooooooooooo much and getting head of the curve. OK, there have been a few large-ish buys over the past few days (100k or 50k), but 3% is equivalent to almost 1.4m shares....

Nowhere near that figure yet on a cumulative basis, though suppose if someone or some institution started out with half a million or so then 3% is getting close, although too many of the large buys are conditional trades which are not normal for a serious accumulator.

However, the strengthening share price and the increased buying activity is welcome and there is a reasonable case for some interest from a third party.

So, you can carryng "harping" - just don't break a string in anticipation!

[crawford] 04/7/2011 17:07

Please, keep harping on. All one sided trading currently.

[skyship] 04/7/2011 16:12

127.5p Bid - & just look at all those trades.

Something just has to be afoot - surely we'll see a 3% declaration before much longer. I apologise for persistently harping on about our Mystery Buyer; but hopefully his identity will soon be revealed......