British Land Share Discussion Threads

[chiragmahe] 17/10/2017 10:33

The British Land Company PLC (the 'Company') currently has ordinary shares of 25p each ('ordinary shares') block listed as follows:

· 543,662 ordinary shares pursuant to the Company's Fund Managers Performance Plan (the 'FMPP') and

· 57,714,228 ordinary shares pursuant to the Company's 1.5% Guaranteed Convertible Bonds due 2017 (the 'Convertible Bonds').

[ntv] 13/10/2017 11:28

that is what i am saying. the discount is huge now if they are confident they should be increasing their buybacks when the discount is large maybe 10 fold.
look at the share price return over the time i mentioned in earlier post
poor at best for longer term shareholders

[void concept] 13/10/2017 10:17

I agreed. Plus they are selling assets in The City at a 30% premium to book value and buying their shares back at 30% discount. Seems sensible.

[scotches] 13/10/2017 10:14

Many companies which use buybacks seem to have an unhappy knack of buying at an share price high. eg BT was buying in 2015 at 450-500p but nothing in the years before that when it had sunk to under 100p. (Now 270-280p)

If BLND are able to buyback when share price is depressed isn't that better than wasting money at higher prices even if it doesn't have any immediate effect on share price If you are long term buy/hold then I don't see a problem in buying assets cheap.

This was the company spiel a while back - seems reasonable.

“This rolling buyback programme reflects our commitment to seeking the best long-term returns for shareholders. 

“We continue to see strong demand in the investment market, which makes opportunities to acquire new standing assets, at attractive returns, more limited than usual.

“With our shares trading at a substantial discount to NAV [net asset value] and providing a 5 per cent dividend yield, allocating capital into a share buyback represents a clear value opportunity.”

[ntv] 13/10/2017 09:27

shareholders should force the company to put assets up for sale piecemeal

[ntv] 13/10/2017 09:25

also the share price was higher in 2013 some 4 1/2 years ago so the management can't really say they have done a great job can they

[ntv] 13/10/2017 09:23

mkt cap is £6.3bn
share buy back is £300m
in theory when completed will boost nett assets by £100m based on your 33% discount
so like i said it is pointless because the management has no clue how to close the discount an the large sounding figure sounds good but has had no effect on the share price.
they don't mind they still get paid and guess we can still buy for a 5% yield,
they did a refurb in tollgate shopping centre near here. traffic flow is awful but have to say it is busy especially at the weekends. huge amounts of development round so we are moving, but will benefit shopping centre but it doesn't have enough car parking space. they rented some space from sainsburys while car park was closed.
don't know why they didn't buy it to expand it.
going back to bland itself.
it can't really justify any purchase at the moment with such a deep discount to nett assets can it?

[nisbet] 12/10/2017 18:14

The share buyback is enhancing the NAV per share, so not pointless. Buying back their own equity for cancellation also reduces the cost of the dividend. Very astute move especially when your equity stands at over a 33% discount to asset value.

[ntv] 11/10/2017 19:24

i see they are still carrying out the pointless share buy back scheme
better off paying down some high cost debt or giving shareholders special dividend
big discount and nice yield

[chiragmahe] 04/10/2017 14:19

British Land Chief Financial Officer Lucinda Bell plans to stand down from the board and leave the company in April next year, the property firm said on Wednesday.

[sicker] 04/10/2017 13:13

Some one has hit the dimmer switch :-(

[sicker] 04/10/2017 11:00

A shining light in the darkness today:-)

[chiragmahe] 02/10/2017 16:12

im all in BLND, i have a few grand for some bitcoin

[sicker] 02/10/2017 12:32

NTV, bought @ £6.013585 this morning. Now halve way to my target total :-)

[ntv] 02/10/2017 11:18

thanks
sicker you might get your target price today
some discounts seem to be over the top for the large property companies standing at 30% and the new ones at premiums!
where is the sense in that!!
but wtfdik

[sicker] 01/10/2017 13:33

Was hoping to buy @ £5.95 but will buy mon/tues regardless :-)

[wi1l] 01/10/2017 12:27

Hi ex-div next Thurs 5th Oct dividend 7.52p payable 10th Nov.

[ntv] 01/10/2017 10:29

any one got their XD dates
tia

[cmackay] 26/9/2017 21:56

Hopefully we can see a support level at 600 now its popped back over

[nisbet] 21/9/2017 18:17

Just for the record, when a company whose shares trade on a discount to asset value buys its own shares for cancellation the net effect is to enhance its asset value. To prove this, deduct the total cost of the buyback (some guessing required); I have taken an average of 610p a share and reduce the number of in issue. Divide the new number of shares in issue into the readjusted asset value and you get the new NAV per share. The resultant discount to NAV becomes greater.

[essentialinvestor] 15/9/2017 13:31

Added a few small lots.

[chiragmahe] 11/9/2017 10:30

DB upgrades British Land Company to "buy", seeing the best risk/reward as there is further scope for asset sales