British Land Share Discussion Threads

[a0148009] 17/1/2014 10:45

Interesting Chart possible breakout and blue sky going way back, also depends how much the share price is ahead of current NAV and we will not know that until Final figures in May, expecting IMS end January to be upbeat.Quarterly ex div
6.75p end March.


AO

[a0148009] 25/10/2013 12:52

Thanks smicker this is easier to read. There is also an article in the Daily Mail suggesting the Kuwait Investment Authority KIA are sniffing.


Broker snap: UBS upgrades British Land after recent underperformance

Date: Friday 25 Oct 2013

LONDON (ShareCast) - UBS has upgraded its rating for London-focused property giant British Land from 'neutral' to 'buy', saying that stock's underperformance 'has gone too far'.

The bank said it has become "significantly more positive" on the rental growth outlook for British Land after stronger leading economic indicators over the summer.

"However, the shares have underperformed peers this year (by 12%) and trade at a discount to peers. Unlike its peer group, its current share price does not reflect the capital growth we expect to come."

UBS expects economic growth - which correlates strongly with estimated rental value (ERV) growth - to be "good in 2013 and accelerate in 2014", and sees the capital growth of British Land's London office portfolio growing to 13% over the next two years.

"Likewise, retail sales usually take about one year to translate into improving ERVs and we are just coming up to one year of improving retail sales, so we are optimistic that rents could increase here in 2014."

With retail capital growth expected at 5%, this nets out at 7% capital growth over the next two years for the company as a whole.

The bank has raised its net asset value forecasts by 10% and now stands 10% ahead of consensus forecasts. The target price for the stock has been lifted from 630p to 680p.

The stock was up 1.04% at 629.5p on Friday morning.

BC

[smicker] 25/10/2013 12:08

hxxp://sharecast.com/news/broker-snap-ubs-upgrades-british-land-after-recent-underperformance/21247695.html?

[fabius1] 30/9/2013 16:42

Sicker. Yes. That pesky 20% income tax swipe (ISA and other 'fings' excepted plus hassle factor).

[miata] 30/9/2013 15:36

6.75p is 100 times .0675p.

In an ISA thats £67.50 per thousand shares.

[sicker] 30/9/2013 15:33

I'm going to get exactly what I expect to get, that is £54 for every 1000 shares I hold.

[miata] 30/9/2013 14:43

Thank you.
MIATA, I believe the dividend due 8th November is .0675p? (xd 02/10 as you say) Updated, you are going to get 100 times what you expect!!

[sicker] 30/9/2013 13:36

MIATA, I believe the dividend due 8th November is .0675p? (xd 02/10 as you say)

[miata] 30/9/2013 13:05

XD 6.75p 02/10/13.

The first interim dividend of 6.75 pence per share is due to be paid on 8 November 2013, to shareholders on the register at close of business on 4 October 2013 and will be a Property Income Distribution ('PID'). The Company will be offering a Scrip Alternative with this dividend which will also be treated as a PID. The Scrip Calculation Price will be announced on 9 October 2013 and the deadline for submitting a mandate (or withdrawing an existing mandate) is 5pm on 18 October 2013.

[muffinhead] 10/9/2013 13:34

in line...shorts over cooked it

[riskblue] 10/9/2013 11:09

Perhaps BLND is picking up the money moving out of Glaxo today?

[a0148009] 10/9/2013 11:08

Salpara111 BLND is a FTSE 100 Share Market Cap 5.7 billion.

AO

[salpara111] 10/9/2013 09:14

Well, it looks like the 550 line was support!
I just felt a bit uncomfortable about the idea of getting in at that price.
There are bull and bear points for this stock, what made me uncomfortable was the fact that they have by far the highest leverage of any of the property majors at over 80% (others circa 60%) which will hold them back in the longer term as they have to refinance at higher costs going forward. In addition London property prices are pretty frothy at present so being very London focused means that upward asset valuations will be much harder to achieve going forward.
Having said all of that it is still a solid company paying a much better divi than you can get in most other FTSE 250 companies.

[miata] 09/9/2013 16:48

Nicely put. Analysts are hesitant in the face of future rises in interest rates.

[void concept] 09/9/2013 16:33

Agree. Solid and conservative opportunity. Great Corporate Governance, trading under NAV, great liquidity, good yield, reasonable yield cover plus plenty of cash firepower - £2billion. Held back by perception over ill judged sale of City of London Broadgate stake and bond yield creep. Plenty of upside left from revaluation to come from London assets.

[wllmherk] 09/9/2013 16:15

Had a buy order in at 540p last week. Close to being filled, but, missed by around 3p. Great long term hold these, one I never lose any sleep over.

wllm

[skyship] 08/9/2013 08:43

Yes, a quite marked under-performance since the 1st week of August. Absolutely no idea why exactly. UK long term interest rates have been rising; the 10yr bond hit a 3% yield on Friday. Perhaps that has something to do with it.

[muffinhead] 07/9/2013 21:34

Just reading old posts for enlightenment

slight underperformance of the entire sector (chart credits to Miata)

[skyship] 06/9/2013 07:17

I think you'll find that putting HTTP into caps works...

[nil pd] 06/9/2013 00:22

www.npr.org/blogs/thetwo-way/2013/09/03/218536265/death-ray-ii-london-building-reportedly-roasts-cars

you might have to correct the http// bit which effing paranoid ADVFN edits by machine!

[nil pd] 06/9/2013 00:19

Talking of "mirrors", I hope BLND doesn't have any "Walkie Scorchies" in mind...

hxxp://www.npr.org/blogs/thetwo-way/2013/09/03/218536265/death-ray-ii-london-building-reportedly-roasts-cars

Please tell me this is a hoax....or such an elementary architectural oversight.

[skyship] 04/9/2013 16:32

Salpara - yes, the New Solera game-plan is something we would all like to get a handle on. As you will read on the LSR thread, they have increased their holding substantially since the liquidation Circular and approval; raising their holding from 16.3m shares (19.87%) to 20.0m shares (24.24%).

All of that 24% has been bought this year. Will they march on to 29.99%; and if so, what then? It could well be that they are warehousing the stake for a third party.

It is my opinion, my guess, that "corporate action" of some kind will intervene so that a lengthy liquidation process will be pre-empted. However, if the liquidation runs its course then there is substantial upside to be enjoyed; and the figures could look very cheery indeed if the UK economy continues its improvement.

As a conservative base from which to calculate returns, it is worth noting that from 26.5p to a payout of 46p (the current basic NAV) by 30th Jun'2017 would deliver a Gross Redemption Yield of 15.53%pa.

Liquidations such as this are a favourite investment mechanic of mine, hence the self-liquidation thread:



I am hoping that LSR will mirror past successes with ACD, APT & HPEQ

[salpara111] 04/9/2013 15:40

Skyship,
I just had a quick look at LSR and while I generally shy away from speculative small caps there looks to be an interesting situation there.
I guess the main thing that will hold them back is the timescale, from my quick look it appears that it wont get wound up until 2016 which is a while to wait.
The big stakeholder is an interesting dimension in that I would be surprised that they want to hold for up to 3 years to see a return so what is their potential game?