Share Name Share Symbol Market Type Share ISIN Share Description
Mckay Securities LSE:MCKS London Ordinary Share GB0005522007 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.50p +0.78% 193.00p 192.00p 193.00p 199.50p 193.00p 195.00p 15,874 12:02:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 23.7 53.2 57.2 3.4 181.05

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Date Time Title Posts
09/7/201611:37MCKS with charts775
28/4/200912:23McKay Securities - Great Yield and Solid Uptrend590

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Mckay Securities Daily Update: Mckay Securities is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker MCKS. The last closing price for Mckay Securities was 191.50p.
Mckay Securities has a 4 week average price of 193.81p and a 12 week average price of 190.55p.
The 1 year high share price is 279.75p while the 1 year low share price is currently 140p.
There are currently 93,808,450 shares in issue and the average daily traded volume is 33,613 shares. The market capitalisation of Mckay Securities is £181,050,308.50.
sleepy: Alan - thank you. Will be interesting to see if the share price holds Friday's level. Very poor that, small shareholders have no indications of the level of future dividends. Did placees commit £80 million without any information on that?
topvest: Thanks Jimbo - they would really help the share price if they explained this in plain english. I think my view is that there is unlikely to be any early close out. In which case all is fine and these are a buy when the opportunity arises. If there is a chance that the bank could demand cash it definitely makes you think twice about adding to your holding. Surely they could make it clearer!
jimbo3352: An encouraging set of results. Yes the fair value adjustment of the swap both in the company and its associate has almost wiped out the profit but the investment property values have been resilient, the void rate is down markedly, the ltv has improved and epra net asset value has increased. As scburbs has pointed out the accumulated fair value of the swap liability wipes out the surplus of epra net asset value over the share price. Personally I take a more optimistic view: interest rates have another 3 years to rise before the counterparty can exercise a break with payment in 2016. Break clauses are usually inserted to cover the risk of deterioration in credit risk which does not apply here. Even if the counterparty were to collapse the swap, the liability would I believe normally be calculated by reference to the fixed interest rate available to MCKS in 2016. In other words,even if MCKS suffered a break cost they should able to lock into a new lower fixed rate in 2016 and, when interest rates rise, enjoy the benefit.
coolen: The trouble with department store Beale is that Perloff is just after the property assets although I suspect he may have a bidder lined up for the retail, ie. viewing Beale as a potential break-up situation. Heaven knows why he bid 36p a share, although it has given him a foot in the door and, yes, nav is twice the present share price, in theory. MCKS looks more straightforward in that I suspect Perloff feels it is just too cheap. Having how got a stake, he may feel he has an option to offer McKay cash if they ever need finance on the cheap through an equity issue. Chart looks interesting too, I would guess, if it nudges up just a few coppers more.
jonwig: IC has an article featuring eight small property companies for their yields: Their out-and-out pick is redefine International [RDI] which at first sight looks a basket case, but who knows? MCKS is in the list. Nothing new said, but the consensus here is supported: McKay (Fairly priced, 119p, 23 Nov 2011) has had a busy few months and the share price has risen accordingly. Crucially, it managed to re-let a refurbished office at Blackfriars at a good rent (although still less than the previous occupier, Lloyds, was paying). It has also extended a lease to the Student Loans Company for a Glasgow office and bought a high-yielding office near Farnborough that's ripe for conversion to housing. The company has limited rental growth prospects, but its big dividends look increasingly secure. The shares trade on a big discount to book value if you strip out the effect of a troublesome portfolio of interest-rate hedges.
crawford: Very good share price appreciation here recently.
hugepants: Yield 7.25% at this share price? Looks solid. Ive quite a few in my ISA now. Ive also REC in my ISA which is worth a look given its huge yield and big cash pile.
speedsgh: I'm finding it hard to take the drop in the share price prior to going ex-div as a positive sign. It may turn out to be a great missed opportunity but I have decided to err on the side of caution and stay on the sidelines for now. Skyship - what's your take on it?
lord gnome: 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!
ammons: Hello SKYSHIP. This is what you wrote about MCKS on 14 January, "Personally I'm out of them all other than PSPI & one-third of my former holding in MCKS. Property will be great again sometime; but for the moment the rises have been completed & the momentum has gone." We are now two weeks on without much change in the MCKS share price and you've decided to buy MCKS again. What has happened in the last two weeks to make you change your mind so quickly?
Mckay Securities share price data is direct from the London Stock Exchange
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