||EPS - Basic
||Market Cap (m)
Palace Capital Share Discussion Threads
Showing 251 to 275 of 275 messages
|spob - agreed, seems superfluous; though wouldn't want to criticise any PLC for excessive transparency!|
|not sure why an rns for this
this was known 2 months ago
it is just an application not an approval
|interesting planning application submitted today
along wait til work will actually start i guess as it will probably be 6 months before we hear anything|
|More good news, this looks to be very accretive, but it may take the results to shift the share price|
|the research is the easy stuff that we know already
it is a pointless waste of money
buying shares in at a large discount is not though it does make the market cap smaller that a lot of directors don't like to do as it kills off bragging rights at lunchtime.
but only if they are cancelled.
the other advantage is it saves dividends that in a company like this dividends exceed the borrowing costs of buying in the shares.
that is leverage for you but we all know that.|
|Doesn't matter how many times Tommo tips it, or how much paid-for research - needs the overhang/seller to clear first. A few more buybacks would help.|
|New Edison research note...
Another NAV-accretive disposal - HTTP://www.edisoninvestmentresearch.com/research/report/palace-capital1/preview/
Valuation: Significant unrecognised value
Palace’s shares trade at c 16% below last reported EPRA NAV per share of 419p, and the company has made disposals in the last month at c 9p per share above the book value of the assets in total. With some earnings being retained and allowing for the share buyback announced on 13 March, we forecast EPRA NAV of 430p per share at 31 March 2017, the financial year-end, implying that the shares trade at a discount of 19%. This is well above the average of regional property investment peers, which trade at close to or above EPRA NAV. As illustrated on page 2, there appears to be scope for this gap to close, supported by the earnings yield. Possible catalysts include the full-year results and reinvestment of capital.|
@llev - agreed. UAI & BKG (& PSN) similar.|
|Only adds 1.5p to the NAV; but importantly removes a potential tap...|
|Schroders Plc 3,625,592 14.06
Polar Capital European Forager Fund Ltd 3,261,137 12.71
Henderson Global Investors 2,555,000 9.91
Quantum Partners LP 2,553,355 9.90
Stanley Harold Davis 1,565,287 6.07
Unicorn Asset Management Limited 1,299,240 5.04
Hargreave Hale Ltd 1,293,870 5.02
AXA Investment Managers SA 1,242,006 4.82|
|very well padded those directors chairs - "it is the intention of the Company to utilise the 500k shares held in treasury in order to satisfy awards of shares under the Company's long term incentive plan."
so thats over 2% of the market cap handed over to senior management on top of salaries, pension schemes, and possibly annual bonuses too.
they are running a property company in a 0% interest rate world - how hard can it be!!|
|slater had less than that at the the last count so guessing polar|
|We don't know who they bought back from - Slater?|
|more to come?|
|that is good news
20% discount to nett assets and saving on the final dividend etc
good use of cash while discount is large|
|Excellent - those trades were buybacks - a very good move @ c20% discount:
|Thx for the link skyship, I don't disagree about it being a buy at these levels, my concern is that sector sentiment is poor so I'd rather be invested elsewhere for now but keep monitoring for any change in the weather.|
|rhomboid - in the propco sector the major bellwethers tend to move en bloc as their share movements are controlled by institutional investment. In the secondary/tertiary sector (those by and large depicted in the Header on the CP+ thread - see below) the share movements far more reflect individual transactions and news releases.
In that Header you will see laggards turning to leaders and vice versa - the regular ebb and flow of stock-market life.
IMO PCA should be bought at these levels - if no position, watch closely for a cheap offer. They've been on offer at 352p for quite a few weeks.
|One of my niggles here is that the company has been very busy selling the story to PI's and very happy to RNS every portfolio transaction yet the shares have been becalmed, It seems that Slater selling down is at least part of the reason why. I'm not currently holding but it's high up my watchlist for when the sector becomes more popular than it's current 'fart in a lift' status. I'm hoping that the rerate is gradual enough for me to climb aboard without too much drama..|
|Hopefully we'll get both a BUY & SELL "Holdings" RNS on Monday/Tuesday. Strange move to sell 530k down at 340p...|
|slater investments more or less out now or polar capital selling down a few more ?|
|Simon Thompson has today revisited his IC online tip for PCA and uprated his target from 380p to 400p.
"Trading on a 17 per cent discount to net asset value forecasts, the high-yielding shares look an attractive investment proposition for a company whose management team has delivered net asset value per share growth of 92 per cent over the past three years, and is garnering a shrewd reputation for buying off-market and adding value to assets through active property asset management and refurbishments."|
|Started a PCA thread over at The Lemon Fool.....TMF's replacement:
|surely a bit of extra effort on the part of the board could have raised the price somewhat.
surely selling on an exit ratio of 8.5% would not have been that difficult
i think they have rushed the sale because the property was uncharged to raise funds for a new purchase maybe ?
the only other thing is Rockwell could be thinking of moving out on first break so that might justify selling
1st break was 2020|
|Also view NTV's comment as a valid one; however an unsolicited offer delivering a 66% increase on book value sure must have been tempting!
With the prospective 425p NAV mentioned in my 227 above now looking more like 430p, I decided to make a small top-up this morning at 352p.|