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Share Name Share Symbol Market Type Share ISIN Share Description
Bmo Commercial Property Trust Limited LSE:BCPT London Ordinary Share GG00B4ZPCJ00 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.40 -1.36% 101.20 4,282,675 16:35:04
Bid Price Offer Price High Price Low Price Open Price
101.20 101.60 103.00 101.00 102.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 65.27 -83.56 -10.50 787
Last Trade Time Trade Type Trade Size Trade Price Currency
17:46:17 O 404 102.393 GBX

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Date Time Title Posts
26/11/202111:21BMO Commercial Property236

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Bmo Commercial Property (BCPT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-11-30 17:03:41101.89561571.62O
2021-11-30 16:59:21101.2061,04461,776.53O
2021-11-30 16:55:50101.20202,670205,102.04O
2021-11-30 16:55:04101.202,7682,801.27O
2021-11-30 16:54:37101.2111,83011,973.14O
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Bmo Commercial Property (BCPT) Top Chat Posts

DateSubject
30/11/2021
08:20
Bmo Commercial Property Daily Update: Bmo Commercial Property Trust Limited is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker BCPT. The last closing price for Bmo Commercial Property was 102.60p.
Bmo Commercial Property Trust Limited has a 4 week average price of 99p and a 12 week average price of 93p.
The 1 year high share price is 104.60p while the 1 year low share price is currently 68.30p.
There are currently 777,534,785 shares in issue and the average daily traded volume is 1,674,836 shares. The market capitalisation of Bmo Commercial Property Trust Limited is £786,865,202.42.
26/11/2021
11:21
spectoacc: Not sure that RNS is correct, c.1.5m purchased 26/11 (today), yet only 488k through the market this morning, and they've never reported same day before. Price would work tho.
01/11/2021
09:27
spectoacc: "On 29 October 2021 the Company purchased 2,000,000 Ordinary Shares at a price of 102.72 pence per share. These shares will be held in treasury." Highest by some distance (just over a quid previous highest I've seen), but justified by the +5p reported NAV rise. Still a decent discount to 130p NAV, still highly accretive. Wonder if £1 will now be the floor, rather than the ceiling.
25/10/2021
11:01
spectoacc: I can't knock BREI, no.2 on my list, & last qtrly NAV was outstanding. And fair point re Covid risk to London, tho there's surely more of that behind us than in front (eg https://www.telegraph.co.uk/news/2021/10/24/coronavirus-cases-slump-winter-say-scientists/). BCPT still edges it for me, with large-scale buybacks at huge NAV discount too. (@EI - must admit I've not been following CAPC).
30/9/2021
15:29
vacendak: It is nice to see BCPT behave more like an investment trust, i.e. buy stuff, sell it higher, rinse and repeat; instead of the previous behaviour: Buy properties, collect rent and not much else. However, as noted in the previous post, I am not sure either what they can buy right now "on the cheap" with the proceeds, especially if they want to move away from retail. I agree that the buybacks should still remain option number one, as long as they trust the valutations of the various buildings we own of course; thus take advantage of the discount. The ESG talk is becoming "Meghan & Harry" level irritating though. BCPT is about brick & mortar in the UK... not some diamond mine in a hell hole working on child labour.
30/9/2021
10:23
hindsight: Consistent with this strategy, we have completed three important disposals worth £199.5 million during recent months as we move to recycle capital and adjust sector weightings. The Company is carefully considering the best use of the proceeds of the recent sales, including attractive investment opportunities, share buybacks and capital expenditure opportunities in the existing portfolio where planning consent has been achieved, as well as future ESG related expenditure At prices they are achieving still think share buybacks and planning gains best use. Seems nothing cheap to buy except other funds. They should open exploritory talks with thier stable mate BREI. Who seem to have a poor attitude to shareholders
30/9/2021
06:36
spectoacc: Little of note in the Interim Report, beyond them watching "very closely" what happens with manager BMO post-sale, but the disposal is another excellent NAV premium: "BMO Commercial Property Trust Limited (LSE: BCPT) is pleased to announce the disposal of its holding at Dane Street, Rochdale. The asset is a purpose-built supermarket with a 12-pump filling station and an adjacent retail warehouse. The Company has sold the properties for a total consideration of £35.0 million at an initial yield of 4.75 per cent. The sale price reflects an increase of 9 per cent over the last external valuation at 30 June 2021 and 12 per cent over the year-end valuation at 31 December 2020" Again - c.124.5p NAV is far too low IMO. Void rate also down to recent lows.
09/9/2021
07:16
spectoacc: It'll have an interesting effect on BCPT's sector split - they've been pretty large in offices, but this one sale is more than a tenth of the entire IT. Worth going back through the last NAV release, where the offices commentary was: "Offices Two significant events completed over the quarter. At Alhambra House in Glasgow there was the completion of a lease extension with JP Morgan until 30 June 2023. The office building extends to c100,000 sq ft and for the period of the lease extension the annualised rent will be £2,500,000, an uplift of £500k on the passing rent. At 17A Curzon Street in London there was the completion of a letting of the 2nd floor to MA Family Office Ltd. The new 5-year lease has a tenant break after the third year and a rent of £130,350 pa was agreed. The letting demonstrates the increase in occupier activity in major cities as restrictions ease." Very well done to BCPT, I'm in this for the longer term, it's woefully under-appreciated by the market. Edit - the hard-to-read table near the end of the July NAV RNS stated Offices £520m, Retail £191m, Industrial £278m, Retail Warehouse £145m, Alternatives £126m. That's a big chunk of Offices converted into cash in a single sale, and I hope they use it to buy back shares - let others pay the silly prices/yields.
09/9/2021
06:07
cwa1: Chunky sale... Property Sale Disposal of Cassini House for £145.5m BMO Commercial Property Trust Limited (LSE: BCPT) is pleased to announce the disposal of Cassini House located in St. James', London. The property is a prime multi-let freehold office building and represents the second largest holding in the portfolio. The Company has sold the property for a total consideration of £145.5million, reflecting a substantial increase of 11 per cent over the last external valuation of 30 June 2021 and 19 per cent over the year-end valuation of 31 December 2020. The disposal represents the culmination of a long-term business plan which involved a complete refurbishment, introduction of new tenants and re-gearing of leases. This disposal is entirely consistent with the strategy of rebalancing the portfolio and the Company will carefully consider the use of the proceeds in the best interests of all shareholders. This includes further share buy-backs as well as property acquisitions and capital expenditure opportunities in the existing portfolio where planning consent has been achieved. The Company's existing share buy-back programme is ongoing. Richard Kirby, lead manager, commented: "Following a competitive bidding process in which the Company received several high-quality proposals, we are pleased to achieve a strong net initial yield1 of 3.2 per cent for this trophy property and crystallise significant value for the portfolio. This disposal will allow the Company to promptly recycle capital in a strong pipeline and adjust sector weightings. We look forward to providing a further update of the use of proceeds in due course."
06/7/2021
12:22
spectoacc: BREI undoubtedly good value IMO, with the high Industrials weighting. But BCPT special - no one else has the West End exposure, and whilst it cost them before, I think it'll work in their favour on full reopening. Last 3 NAVs: 31/03/21 - 119.5p 31/12/20 - 117.5p 30/09/20 - 116.9p That's despite paying a monthly divi. They then made an asset sale at a 7.2% premium to the 31/03 NAV. Whilst it's possible they were selling the jewels, they've no pressing need to. Both BREI & BCPT got chunky offices exposure, which I think can go either way. Stimulus-inspired boom, and offices return to something not far off where they were. Permanent WFH changes, inflation, CapEx for greening, moving out of cities, and offices risk, at least in places, being the new Retail. Bottom line for me is that BCPT is both unique & cheap, vs depressed earnings & a rising NAV. Arguments against are the future for offices, and if travel ever returns to normal (West End requiring tourists). Despite all the positive noises on reopening, there's no sign of that yet. But paid to wait.
08/6/2021
11:04
vacendak: I like the buybacks, with the shares held in treasury thus limiting the costs to reissue when things turn to a premium. I mean a few years ago, BCPT was always selling at a premium, so this could happen again. This works fine for standard ITs, ITs that hold shares in other companies. Calculating the NAV is basically a daily spreadsheet exercise (assuming the investee companies are listed and traded enough). In this case though, with the NAV being calculated only every quarter or so, my question is: How can they judge the share price to be "at a significant discount" when deciding to do a buyback? Especially if this is done quite a while after the last building valuation exercise. Again, I am all in favour of correcting the mispricing and see the NAV go up thanks to lower divisor.
Bmo Commercial Property share price data is direct from the London Stock Exchange
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