Wynnstay Properties Share Discussion Threads

[battlebus2] 05/10/2023 15:24

Small director buy.

[1tx] 14/6/2023 09:42

Pleased with performance & divi increase.Points I noticed was that properties comply with at least minimum government grade requirements for insulation etc to allow rental (mainly much higher) so very little extra capital expense required.This could be a problem for some property owners.I noticed EPIC,the retail park owners, commenting recently on this.

Interest rates fixed for the next three years;hopefully we will see a turn down in inflation before then.

[battlebus2] 28/4/2023 07:40

Indeed, very pleased. Prospects for another increase in dividend must be high.

[1c3479z] 28/4/2023 07:24

excellent trading update, Property valuations marginally up, when nearly all others are reporting a decline, no voids and excellent rental collection, limited debt. Directors, particularly CEO, have done well and are to be congratulated for their efforts on behalf of the small shareholders.

[1tx] 26/4/2023 10:22

The Kent purchase uses up the cash obtained from the office sale a while ago;perhaps not a huge yield in todays inflationary times but it has taken a time to find a suitable property.As far as I can see from the website all properties we have are let.

[battlebus2] 11/4/2023 16:42

If I remember right they didn’t issue one last year but 🤞 they will this time around

[1c3479z] 11/4/2023 10:17

year end trading update due any day.

[c3479z] 11/9/2022 21:36

has commenced repurchasing shares but no impact on the share price spread thus far, would imagine liquidity will fall further as purchases are made..

[battlebus2] 19/7/2022 16:21

Excellent news from the AGM with all resolutions passed meaning the buyback will commence. Also 100% rent collection and 100% occupancy with demand strong. Sweet ✅✅✅;✅

[battlebus2] 28/6/2022 17:58

I agree especially with discount to NAV around 40% it’s incredibly cheap.

[playful] 28/6/2022 16:17

Still amazing value.

[c3479z] 27/6/2022 14:38

doing a Cardiff property by buying back its shares, will reduce liquidity further, cement control within the concert party and not quite sure how the buyback will operate if there are few or no institutional holders. Would have thought an amalgamation with another prop co eg Cardiff or Highcroft might have been a preferable solution for independent shareholders if this could be agreed.

[c3479z] 24/6/2022 14:34

could be attractive at 620-650 considering NAV of 1090?

[battlebus2] 21/6/2022 10:34

Some fool selling in 200 shares and bringing the stock down instead of going to market and selling in one go. Why sell when the buyback isn’t in place until after the AGM? 🤷‍a94;️

[1tx] 20/6/2022 10:30

You are correct c349z WSP as a property company does not qualify for IHT relief.My error!However my point that many of the longer term holders of WSP probably will not have their shares in an ISA remains likely as AIM shares did not qualify until 2013 for inclusion.Actually you got reduced CG Tax on Aim shares on sale provided you had held them for specified minimum periods.This was not continued when AIM shares could be included in ISAs unless of course they were purchased after this date within an ISA.

[c3479z] 16/6/2022 17:20

1tx

don't think property qualifies for BR for IHT purposes? but correct me if wrong.

[battlebus2] 16/6/2022 16:57

You make a good point 1tx.

[topvest] 16/6/2022 15:32

It's been a nice performer. Happy to hold onto my small stake. Yielding 13% on my original purchase price, but shocked to notice I've already had these for 20 years!

[1tx] 16/6/2022 15:24

I doubt very much if the major or other long term holders would be interested in a take over bid;they are likely to have a very low "book price" for their shares & could have significant potential capital gains tax implications on sale of shareholding that would negate any take over premium;remember it is only relatively recently WSP shares have been eligible for ISA's.If it is the case as indicated that some shareholdings have been family held since the 1880's these holders together with other major holders would perhaps be more interested in the AIM inheritance tax benefits!Incidently I think part of the reason gross total rent has only increased modestly is because net borrowings have fallen.

[battlebus2] 16/6/2022 14:49

Wouldn’t rule it out given how difficult others in the field are finding it to buy suitable properties to add to their portfolio. WSP by comparison is a small fish.

[playful] 16/6/2022 12:33

I’ll make a prediction that they are bought out before Christmas

[the vogon] 16/6/2022 09:48

Although delighted with the uplift in property value, I am a bit disappointed to see that whilst the NAV has increased by 44.6% over 5 years, the rent role has only increased by 3.2%.

[battlebus2] 16/6/2022 09:22

Yes a share buyback will only reduce liquidity, probably better to split the shares into say a 10 for 1 option.

[c3479z] 16/6/2022 09:10

brilliant, agreed...congratulations to the Managers.
not sure the various proposals will enhance liquidity or reduce the spread but, given the shareholder register structure, this may prove an insurmountable problem.