Share Name Share Symbol Market Type Share ISIN Share Description
Alpha Real Trust Limited LSE:ARTL London Ordinary Share GB00B13VDP26 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 185.50 182.00 189.00 0.00 0.00 - 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 3.2 2.7 33.1 5.6 124

Alpha Real Share Discussion Threads

Showing 1 to 12 of 325 messages
Chat Pages: Latest  1
DateSubjectAuthorDiscuss
22/6/2014
13:30
KPI's were not wildly exciting. It is a high risk portfolio but the discount appears to be too large.
russman
04/5/2014
15:49
Why is there no dividend yield showing? I am getting a divi.
russman
03/1/2014
09:53
I think that this looks good value. Bit confusing with mgmt. taking fees and investing ARTL in other funds where the same mgmt. takes fees, but invested funds rebate fees to ARTL so only paying one set of fees and Alpha Real Estate owns a large part of ARTL, so unlikely to hurt their own investment. As Spain continues to improve, its likely that the Spanish shopping centre will increase its occupancy rates and rents, which should all flow through to the bottom line for ARTL. Finally, ARTL has a bit less than 40% in cash/FIAF, which they are looking to reinvest in higher yielding assets. If they are able to reinvest the assets at 8 to 10% return, then the dividend will also likely be significantly increased and the market could rerate the shares accordingly. All IMHO and DYOR.
sladdjo
03/10/2013
07:45
Yes, I'm tempted to go further with ERET as the discount has not narrowed as much as I would have expected. I looked at LSR {possibly missed the boat} but was bothered by the high LTV and the swaps. I do not agree with the view that negative value in swaps can be discounted. Look at SREI - a great success story but the swap value had to be crystallized to achieve it. But do recognize that the high gearing could do very well for LSR if there is a respectable pick up in commercial property.
colonel a
03/10/2013
07:13
Colonel Well done with ERET ! I'm sure there'e another good 50p to come in the not too distant future, more in the long term. Have you had a look at LSR ? UK prop company liquidating itself with a good discount to NAV.
profitaker
02/10/2013
15:28
At a 53% discount to their last NAV there have to be some serious issues. I've got about 1/3 as much in these as I have in ERET, which reflects relative confidence. But appreciate the sanity check, it is easy to get carried away when a sector is going well and assume the trend will carry all before it.
colonel a
02/10/2013
14:56
Colonel The question is what is the true NAV of this one ? If AURE & AUMP go into administration what will be the recovery rate on those loans ? The Spanish property obviously has a value, but is it booked at fair value in the accounts ? Legal goings on with the property in India and what about the exchange rate ? These trade on a thumping discount to NAV, so it's not all bad. Just not as good as it first looks, I suggest. I might have another look at these in the future but will give it a miss for now. Good luck.
profitaker
02/10/2013
14:29
Thanks, I'll look into the fees in more detail, I can live with risky investments but snouts in the trough puts me right off.
colonel a
02/10/2013
14:24
I'd be careful with this one. Their loans to AURE & AUMP look dodgy. Total investment £ 14.7m representing 21.98% of their investment portfolio. Both companies struggling to extend banking facilities. Can't find out anything about their loan to Norway. 20.78% of their portfolio is invested in a Spanish shopping centre. Their property in India (7.4% of their portfolio) is involved in an "arbitration process" to protect the investment. Not sure how these valuations would stack up against their book value, but I'd certainly be worried about the true value of the above, which combined represent 50.16% of ARTL investments. The only sound investments I could find was in Freehold Income Authorised Fund, which in turn is invested in ground rents. Safe as houses, but only yielding 5.2%. Cambourne business park looks good, but represents just 1.8% of their portfolio. Interestingly ARTL pays an "Investment Management Fee" to a company called "Alpha Real Estate Capital LLP", as does, er, each of it's subsidaries. Bit of a gravy train going on here I think.
profitaker
02/10/2013
08:18
There are fewer and fewer property companies at a significant discount to NAV. This one is not easy to figure out but I've bought some on the basis that property generally seems to have bottomed out and ARTL seem to have enough cash to profit.
colonel a
05/9/2013
17:34
on board with these looks like some upside.
bisiboy
24/2/2013
12:34
Quiet a defensive structure here, with prospect of 5% yield and with price at 40% discount to NAV. It will be interesting to see how the investment in AURM and AURE turns out. Not worthwhile converting, but AUMP and AURE would have difficulty repaying so ARTL should be in a good position to change terms
ibarty
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