Axa Property Share Discussion Threads

[skyship] 07/1/2013 11:25

Also, here is the link to that interesting move by RDI that Jaws referred to in his 245 above (thnx for that Jaws):

[jaws6] 24/12/2012 10:24

skyship
Did you see news in reddfine property re German property buy .more good news too.
Hope you seen my message on JPEL yesterday.

edit-dave good info from FT,Tks

[skyship] 24/12/2012 10:14

Nice one Dave - thnx, a very useful article. That property strength will trickle down to our lesser sites.

[jaws6] 19/12/2012 14:35

edit
ok.no prob

[smarm] 19/12/2012 14:34

Aha.

Yes.

S

[smarm] 19/12/2012 14:30

Nope....

S

[jaws6] 19/12/2012 14:25

smarm
Did you get email ?

[jaws6] 19/12/2012 14:13

smarm
ok.

[smarm] 19/12/2012 14:06

Jaws...here!

Skyship - noted.

S

[jaws6] 19/12/2012 13:14

smarm
Are you reading this ?if yes pl reply

edit-As you are not here will leave till later.

[skyship] 19/12/2012 13:06

Don't ponder too long. I see 250k were bought yesterday; might have cleared the decks for a run...

[smarm] 19/12/2012 12:51

Skyship - LOL 'a heel'...is that a new investment strategy! Seriously, there is no question that the NAV might fall if next year turns out to be as bad for Europe as some predict but nothing I can find suggests a 20% haircut. Of course we may have been subject to over-zealous estimates and if that's what Oriel were getting at then why were they 'tipping' it not so long ago. I hate brokers notes....there, I've said it.

I am still pondering the merits of your 'dog' JPEL.

S

[skyship] 19/12/2012 10:56

Sue - felt a heel - so already bought a few back @ 35.14p, just 30k...

Will now watch for a lower offer before adding.

Incidentally, my liquidation figure of 50p could well be a tad over-conservative as one has to remember that the portfolio is throwing off good revenues - c3p/annum...add a couple of years of such income and we might well hit 55p!

[smarm] 18/12/2012 18:15

Skyship - just winding you up. Meanwhile, I've been looking at German commercial property forecasts and they all seem a bit bearish but not to the tune of 20%. I always assume a reduce/sell from a broker is simply a way of them getting the price down so they can buy in cheaper. I am by nature very cynical.

Anyway, well done....a profit is a profit.

S

[skyship] 18/12/2012 17:45

Hey Sue....I certainly don't dance to Oriel's tune, though I wouldn't discount them quite so totally.

I daresay their researchers are actually better qualified than I am to take a reasoned view on the property valuations; but I do know I was buying @ 29p and they apparently weren't - so - who knows. I've also spent hours with the little Google Map man walking the pavements around their properties. I'm sure Oriel didn't do that.....most likely doing more productive things...

Anyway. I always sell too early, usually having bought too soon. But to paraphrase Seth Klarman (see excellent article in last Friday's IC), if there is sufficient fat in between - then be happy! 24% in 4 months seems fair by me, especially as I expect a sideways consolidation for a time.

I'm sure I'll be back in here; but in the meantime I've raised some cash for other opportunities, such as top-ups in CIC & HPEQ...

[smarm] 18/12/2012 17:24

So Oriel say 20% NAV haircut and you all cut and run. LOL.

I love this 'getting to know you' thing.

Onwards and upwards.

S

[jaws6] 18/12/2012 15:11

smarm
Tks

[jaws6] 18/12/2012 14:40

skyship
Tks

[skyship] 18/12/2012 14:37

jaws - The Naked Trader thread - may be a quicker route, but I go to SEARCH above the "NEW" flash at top left-hand corner of this page - then enter The Naked Trader

[jaws6] 18/12/2012 13:56

I am out too

smarm
can not see TNT thread
g luck with PE next year,I am watching few more to add in dips.

[skyship] 18/12/2012 13:35

Decided to take the profit @ an average of 36.125p.

A very nice return, especially after seeing that false low of 25.5p after a poorly handled sale - looks likely to have been an unfortunate Rathbones client.

I think APT are likely to trade in a 32p-40p band over the next year as sentiment waxes and wanes according to values achieved by early property sales.

So the current share price represents Fair Value IMO. I prefer something demonstrably cheap, so have switched allegiance to Conygar (CIC) for its 47% NAV discount @ 89p - the recent Prelims make far better reading on the corporate governance front; and the continued buybacks are absorbing any late institutional sellers. Look good for a 30% rise to 115p over the next few months.