U And I Share Discussion Threads

[loobrush] 29/7/2016 16:05

Welcome piano man

[piano man] 29/7/2016 14:18

Thanks loobrush nice to bag rents on the cheap.

[loobrush] 28/7/2016 17:41

New thread to highlight this undervalued REIT

[skyship] 25/7/2016 14:57

You're both so right; but hopefully they will progress well beyond 182p, my average entry price being 215p.....and only that due to a couple of covered-bear trades with 30% of my holding!

True NAV was likely to have been North of 300p. That may now have to be moderated somewhat; but however you cut it, still trading at a bizarre discount to all peers...

[jl9] 25/7/2016 14:39

In!!! Brilliant value on offer here. Can see these getting to 182p.

[blondeamon] 25/7/2016 13:01

Great entry point, I got in today with a decent amount. Good value at this level, IMO/DYOR

[8w] 21/7/2016 14:50

I believe NAV is very conservatively stated. No allowance is made for any value the Company has added to a project/development. Therefore any realisations should be well above stated NAV. Also I think UAI is going to change this method of calculating NAV at the final results next year and will include at least some of the value added.

[ganthorpe] 21/7/2016 11:12

Bought a few at 148.5P today.That's about half the NAV of 291P I think.
They said that the last recession hit their NAV by 30% for what that's worth and their loan to value is about 44% , which would have reduced the NAV to under 150P.
Not sure how much spec development they have in hand , but otherwise the main effect will be a marked slowdown in new projects possibly.

[skyship] 21/7/2016 09:19

Correct - Ex the 3.5p Final today...PD 19/08.

[fizzypop] 21/7/2016 08:05

Ex-div tomorrow.

[mad foetus] 16/7/2016 11:44

Someone bought 100,000 at 1.65 on Friday, well above the highest the share price was all day.

[asmodeus] 11/7/2016 16:09

Maybe too late? Sp up 15.6% it says here at 4.15 pm!

[my retirement fund] 11/7/2016 14:02

Looks like top up time has arrived in spades

[leedsu36] 06/7/2016 17:13

Oh dear dear me MF,another dominoe just toppled.They are getting shut of property portfolios left right and centre,Am I right in saying Aberdeen,Blackrock and other insti's still have millions to sell here into any sort of rise that occurs?

New target £1.20p

[hugepants] 06/7/2016 13:31

This may be a bit simplistic but UAI have a LTV of 44% which is pretty low. So if property values drop say 5% the NAV drops about 10%. From memory last NAV was about 275p so is the current fall overdone?

[leedsu36] 06/7/2016 08:53

Oh my word,they're falling like dominoes,Directors pay themselves thousands in salary from the pot here,how long before a firesale starts,Sky and CM you have left mug punters high and dry here,shame on you both.

Aviva, the savings and investment group, has suspended redemptions from its £1.8bn property fund, the Guardian reported.

It took the decision following the Brexit vote, which triggered a surge of requests from investors to pull their money out of its UK Property Trust.

“We have acted to safeguard the interests of all our investors by suspending dealing in the fund with immediate effect," the newspaper cited Aviva as saying.

“Suspension of dealing will give Aviva Investors greater control in managing cashflows and conducting orderly asset sales in order to meet our obligations to investors wishing to redeem their holdings.”

The suspension follows the same move by Standard Life yesterday when the company said investors in its property funds were told that could not withdraw their money, after a rush of withdrawals following the UK’s decision to leave the EU.

The firm halted trading on its Standard Life Investments UK Real Estate Fund and associated funds at midday on Monday, citing “exceptional market circumstances” for the decision. It said the suspension would remain in place until it is “practicable” to lift it, and that it would review the decision at least every 28 days.

[elmfield] 05/7/2016 23:03

We did say that this should be avoided until after the vote,
How right we were.

[leedsu36] 04/7/2016 17:46

Watch the clamour for the exit door now as Standard Life closes it real estate fund,others will follow as the commercial real estate market is becoming too illiquid.

But then again,you lot know better than the experts.

[leedsu36] 03/7/2016 17:51

!

Talk about rose tinted spectacles,at £2.80 you didn't listen,there are greater forces at work here,iinsti's are selling millions and until it finishes at £1.30 an dall current turmoil,why the hell buy.

Absolute stupidity.

[skyship] 02/7/2016 08:56

The whole of the Commercial Property sector took another hit post Brexit. Already weak ahead of the Referendum, it may now be that the fall in the listed propcos is being seen as overdone - see the piece below from Property Week yesterday. A single bid would raise the whole sector by 10% overnight IMO.

As for UAI specifically, the continued fall there may be due to its development bias; though if the wider economy doesn't take a serious hit (& why should it?) this factor could actually work to its benefit.

With the historic NAV discount now at 43%, no surprise to see director Richard Upton yesterday adding another 31,000 shares @ 160p.

============================

Property Week has been informed of at least one Middle Eastern consortium looking to take advantage of a drop-off in the value of listed property company shares and the fall in the pound.

The Middle Eastern consortium is being fronted by 3 Associates Capital and is on behalf of four parties.

The pooled fund is said to be mobilising capital and in discussions with financial advisers about preparing a formal bid.

It has a hit list of second-tier listed property companies.
“Why buy a portfolio when you can buy a company?”

“This is a big opportunity to buy companies, not just shares in companies,” said a source familiar with the plans.

“Why spend hundreds of millions of pounds building up a portfolio in London when you can buy a company for the same price? That’s the smart play right now.”

Other parties, including US and Canadian pension funds, are also thought to be lining up bids for property companies.

The share prices of companies with significant exposure to the London market have been hit the hardest since the referendum.

Stock exchange trading screen

Source: Shutterstock/Hxdbzxy

Last Friday, Derwent London was the worst-hit real estate investment trust (REIT), closing down 24%, but others were not too far behind. Great Portland Estates dropped 22%, while British Land, Helical Bar and St Modwen all fell by 19%.

The rout continued on Monday as companies including British Land, Derwent, Great Portland and Workspace suffered further double-digit declines before recovering some of the lost ground on Tuesday and Wednesday.

The upshot is that much of the listed sector is now trading at significant double-digit discounts to gross asset value, giving investors a potential opportunity to gain exposure to UK property at a large discount to the most recent valuations in the direct property market.

Foreign investors are also able to take advantage of the weakness of the pound, which hit a 31-year low against the dollar on Monday.
========================