|A & J Mucklow Group
||EPS - Basic
||Market Cap (m)
|Real Estate Investment Trusts
|Mucklow Daily Update: A & J Mucklow Group is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker MKLW. The last closing price for Mucklow was 499.75p.|
A & J Mucklow Group has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 63,294,833 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of A & J Mucklow Group is £316,315,927.92.
|walker10: Yes nickcduk as they say in there outlook statement:
"We are, without doubt, well placed to take advantage of this current downturn from our position of low gearing supported by a modern, quality portfolio. When market conditions feel appropriate we intend to commence purchasing quality investment properties that show clear future growth potential"
This combined with the share buy back - they have not bought back any shares for 6 years they see the weak share price as an opportunity.
We will see.|
|walker10: "The Board intend to seek shareholder approval for the authority to buy-back up to 15% of the Group's Ordinary share capital at an EGM to be held after the AGM on 11 November 2008. Our share price is currently at a significant
discount to the revised net asset value".|
|topvest: Is it only me, or are the real estate share price movements today totally bizarre. Worst markets in a couple of years and certain real estate stocks have gone through the roof! MKLW is the best example..what is going on?|
|topvest: 4 years off the share price in a few months. 6% yield starting to look interesting. Another 10% off the price and I'm in for some more. 7% yield and discount to NAV of about 50% (by then) will be too good to miss!|
|topvest: exactly. MKLW is a great defenisve stock. Unfortunately, as with all property stocks they have a post-bubble hangover. I'm close to being a buyer again. Just waiting for signs that the share price bottomw has been reached. This company has raised its dividend every year for 30+ years. It's very solid!|
Disappointing that MKLW are not replacing their older assets which are and have been sold.I had hoped that with a new MD that the Company would move to a more adventurous outlook but it is not to be.I have a high regard for MKLW as I have held the shares for nearly 20 years but is really an income stock.The share price is probably 10% overvalued but this probably represents the Petchey stake and the fewer property stocks still quoted.
It will be interesting to hear the Board,s comments at the AGM on the Petchey situation. Last time the Company bought back the shares but to buy 13% would make the shares very illiquid.
|linhur: A changing of the guard at the beginning of next year with Rupert moving to Chairman and a surveyor coming in from outside to be CEO.
Looks like investment will take over from development.
Agree with your comments on strength of company but the share price has been at a discount to nav for last 25 years.All looks like lining up for a MBO but perhaps 12 months time when the debenture has been repaid.
It will be a lot smaller company when the latest sale completes next week.Cannot fault Mucklow on the timing of the sale.|
|linhur: No MBO then.
Results are poor taking into account the share price has increased pretty rapidly from 240p to 280p in the last two months.
Probably a good move to raise £48mill from the sale of 10 sites.However the sale was at 7.6% so revenue will suffer in future years.Wonder what they are going to do with the £48mill? Buy the Loan stock back? would add 20p to the NAV.
Looks as though Mucklow is battening down the hatches for a tough couple of years in the commercial property market.
Triple NAV is 290p so shareprice should realistically be 220/230p
Mucklow share price data is direct from the London Stock Exchange