Palace Capital Share Discussion Threads

[topvest] 21/11/2016 19:39

Nice update.

[spectoacc] 21/11/2016 07:28

NAV +1.2% to 419p. See above!

[spectoacc] 03/11/2016 07:44

Thanks @strathroyal. Almost feels like they put the t/s out in response to Tommo! A sort of "hold your horses, don't get too carried away just yet" RNS.

[strathroyal] 02/11/2016 16:54

SpectoAcc - Agree that the update was a definite curate's egg. I thought the initial comment about short term profits being affected was something of a profit warning but happily the market didn't seem to view it this way. Longer term the uplift in value on Hudson House will be beneficial to NAV but looks like the share price will continue flat at best for now as there is nothing to give it impetus.

[spectoacc] 02/11/2016 15:13

Not a holder so don't wish to deramp, but wasn't greatly impressed with the "Portfolio Update" this morning.

"...Albeit certain sales of vacant properties have been delayed beyond our original expectations, giving rise to additional costs. "

Also mention of the Empty Rates at Hudson House in York, without quantifying them. Two questions to perhaps put to them tomorrow for anyone going.

However, I like that they recognise that:
"Looking ahead, we expect income returns to drive total shareholder returns, and we are delighted with the progress we are making to improve the rental income from our portfolio."
But why follow that with:
"The Board is very excited with the range of opportunities in our portfolio to add further significant value to a number of our strategic assets. This will inevitably lead to both a major increase in income and thereby capital growth. "

Conclusion seems to be that lip service is being paid to income returns, whereas what they do best is asset management.

Also:
"We have properties in prosperous towns and cities throughout the UK"

What: Leeds, York, Manchester, Halifax? Rofl. (Yes: local).

[sharesoc] 02/11/2016 14:53

Palace Capital present at our seminar in Leeds tomorrow, more details and registration available at:

[davidosh] 27/10/2016 13:50

If you are based in the north of England and would like to meet the company and ask the CEO and FD a few questions then take advantage as Palace Capital are presenting at the ShareSoc seminar in Leeds on the 3rd November - here's the link -

[skyship] 25/10/2016 13:32

Apparently PCA will be presenting at a Share society meeting in Richmond next Tuesday, more information available at:

[sharesoc] 25/10/2016 13:10

Palace Capital (PCA) present at our Richmond Supper next Tuesday, more information available at:

[sarah0286] 24/10/2016 13:29

CEO Neil Sinclair, will be presenting on Tuesday 1st November at One Kew Road, Richmond, London, TW9 2NQ.

To register click here:

Doors open at 18:30 and presentation starts at 19:00.

This event will consist of a one hour presentation including Q&A. This is a great opportunity to talk directly to the directors of the presenting company and also socialise with your fellow investors and discuss the company and other investment opportunities.
.

[spectoacc] 24/10/2016 08:11

Good spot; a Midas reader paid nearly 5p over for 2k shares just now. If he'd bought on Friday he'd have got mid. Implies Friday's overhang is over at least.

[strathroyal] 23/10/2016 23:20

Not the first time that I've observed this, but no sooner has ST tipped a particular company, it is then tipped by Midas in the MoS. Between the two of them this should have a positive effect on the share price

[davidosh] 21/10/2016 14:47

Lots of opportunities to meet the directors and watch presentations over the next month or so...

[spectoacc] 21/10/2016 13:06

Now also in the print mag from Sir Rampalot, with a typo re the divi, but reads well. Must be a big overhang for so many to be available at mid vs tiny sell size.

[tromso1] 17/10/2016 12:08

Just been tipped-

[spectoacc] 19/9/2016 10:30

@NTV - was hoping for a debate with PCA bulls! Nothing I'm "recommending", but not difficult to pick a few out like:

1. For yield, AEWU (c.8.3%). Currently trading at a premium, which alone puts me off.
2. For discount, so many to pick from but either TRY at c.13% below NAV, small holding in direct property (c.8%) but very well spread holdings in REITs, bias to Euro but with 5.7% in LAND, 2.5% in GPOR etc. Great thing about TRY is that it's discounts on discounts. But a long-term SIPP holding rather than shoot the lights out.
3. SMP - wipe out the entire value of Nine Elms & it's still trading at a fat discount. Director buying, profitable, EPRA NAV 451p at last reading vs 296p s/p.
4. CIC - was in these for years but no longer, not such a fan but they're the development end so more similar to PCA. More liquid, longer record.

[ntv] 15/9/2016 18:01

what ones are you recommending that are better value than pca?

[spectoacc] 12/9/2016 12:26

Can't see what's so attractive about this co in truth - some very weighty NAV discounts among the giant REITs, who combine long experience, great assets & liquidity. Clearly the NAV is currently undervalued but (a) that can change and (b) they're not alone.

Today's RNS pretty small beer, a sale of well under 1% of assets? They also talk about how conservative gearing is (c.39%) but there's a lot who are more conservative. Still, if commercial property still has a long way to rise then the gearing will help PCA.

Divi been growing strongly but there's better yields out there too.

[mad foetus] 12/9/2016 12:07

Astonish that the share price isn't materially higher - I think the silly spread is partly to blame. The company needs to grow a bit bigger and get more broker support and coverage IMO.

[skyship] 12/9/2016 07:22

"In addition, since the vote on the EU Referendum, we have sold three properties above book value and those under offer pending sale have also been agreed at levels above book value. Despite media comment, at Palace Capital, we are seeing no sign of any decline in our commercial property values."

[gary1966] 12/9/2016 07:16

Crazy shareprice when company trading at such a discount to NAV with property sales announced today going through so far above book value. Guess the market will get there in the end.

GLA

[wirralowl] 06/9/2016 16:31

Thanks davidosh, I live up north so won't be able to make it, but would appreciate some feedback on this BB if at all possible.

[gary1966] 05/9/2016 10:31

At last the spread has closed and managed to get some at £3.1875.

[gary1966] 02/9/2016 12:43

Davidosh,

Hear what you are saying but then it will cost me £300 opening and closing the position with higher fees. Either way my point stands that currently the cost of buying and selling is prohibitive and will be the main reason why trade has been killed in this share.

[davidosh] 02/9/2016 09:13

A good broker should be able to get you prices well within that spread.

Incidentally Palace are presenting at a ShareSoc event in Brighton in a couple of weeks time if you want to meet them...