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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Capital & Counties Properties Plc | CAPC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 131.30 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 131.30 |
| Top Posts |
|---|
Posted at 06/3/2023 17:20 by nickrl so why was CAPC up nearly 6% today but SHB was static?anyhow we need a new thread for SHC |
Posted at 02/8/2022 13:24 by nickrl NAV would have been up had they not invested in SHB is the headline costing them 10.6p and just as well not valued at todays share price as it would be lower still.NRI is slightly up once you remove the benefit of recovered arrears but admin costs are up 25% and thats before you add in the £9m they've spent on the SHB merger. Anyhow has plenty of cash in hand and no immediate debt repayments but still can't convince myself merger with SHB is going to materially improve on the paltry dividend here. |
Posted at 29/6/2022 18:42 by nickrl EIiIs it better to be in CAPC or SHB pre the merger? |
Posted at 23/2/2022 11:49 by nickrl FY results out today and suppose one positive is NTA barely changed although you have to dig into the numbers to see whats going on and tbh i get lost in these big popcos with JVs as to what the true situation is so its highly possible im misinterpreting things so dyor.Its low dividend means it currently uninvestable to me and would be surprised to see its divi move up significantly from here to get into >3% yield but it is the West End and overseas investors seem to like trophy assets. Anyhow as it has read across to BCPT and SHB (no interest in that one either) had a read through. Certainly good to see leasing activity well up although as to what terms they are offering is difficult to determine but carrying a 43m lease incentives in the books says a fair amount to me but if the economy holds up then good investment for future income. Don't get the logic of holding c320m in cash and an undrawn RCF of £300m which has a cost to it or maybe they want quick access to funds to absorb SHB although that would need alot more than that. Post year end they are redeeming some 3.6% private placement notes but at a premia of course. Nett impact is interest charges absorbed 26m but will reduce in future years to c23m. So even with improved NRI admin costs and interest charges have utilised most of this years cash leaving the divi uncovered. There may also be a useful increase in SHB divi as well to add in so along with improved NRI a modest divi increase will happen but yield won't hit my 3% threshold unless share price tanks. |
Posted at 31/1/2022 16:23 by skyship Hi EIFurther to your post on the COA thread. Personally I don't like London assets and I don't like Retail. I believe both CAPC & SHB to be over-valued versus the far better value REITs featuring on the CP+ thread. CAPC possibly on a 15% NAV discount if we don't see a further impairment; and I for one would seriously impair their SHB holding. Compare this with the likes of AIRE, BREI, HCFT & SREI... My current two Best Buys: # BREI @ 91.90p - Discount = 24%; Yield = 4.35% # HCFT @ 939p - Discount = 20.8%; Yield = 6.08% (Both historic & likely higher) |
Posted at 09/3/2021 13:02 by nickrl CAPC results out only skimmed headlines- EPRA NTA 212 pence per share, a decrease of 28 per cent (2019: 293p) - Group net debt to gross assets ratio of 28 per cent (2019: 15 per cent) - ERV decreased by 22 per cent (like-for-like) to £81 million (2019: £108 million) and equivalent yield of 3.91 per cent (2019: 3.65 per cent) - Reported net rental income down 74 per cent to £16 million against December 2019 and underlying net rental income down 30 per cent (like-for-like) to £44 million - EPRA vacancy is 3.5 per cent (2019: 3.2 per cent) Much of this had already played out at interims but shows the destruction of value inflicted from the situation. Void rate is unexpectedly low but probably because they've agreed significant levels of forbearance / deferrals here and will probably have to write off more to retain tenants. |
Posted at 02/2/2021 14:16 by nickrl Others have mentioned CAPC on other share boards this morning as having NAV down 13% since mid year.Other headlines are there down about 40% rent for current FY with most of it on alternative arrangements meaning they've cut a deal over lease lengths in exchange for nil rent. In Q1 they've got 42% rent in so far and agreed some other arrangement for 52%. FY Results due on 9/3 so we should get some more insight onto whats behind the numbers. |
Posted at 12/8/2020 09:56 by nickrl Interims out today and not pretty reading but at least reflective.NAV down 18% and divi deferred. 30% rent collected in Q3 and 65% on alternative arrangements (ie not paying just) but on NAV calculation they ascribe a 31m loss of income over next 6-12mths so there not confident. All this resulting in 44% drop in NRI. They confirm that rent deferred is treated as income but adds 20m to receivables so could easily be impaired. Need to be applauded for attacking the cost base unlike some of there peers who do nothing although part of it is coming from fees for SHB acquisition. As i said on SHB thread these two are intrinsically leveraged to footfall particularly tourism and that is in bad shape currently and with long haul aviation potentially facing a permanent reduction in capacity the deep pocketed tourists aint coming anytime soon. At least the ChEX commentary is reflective of this risk. Ultimately this is a good set of assets and a merger of equals with SHB would be a good way forward here to further lower the cost basis but NAV will suffer further declines so wouldn't be surprised if a fund raiser won't be required. |
Posted at 03/6/2020 10:08 by trcml Would you think CAPC buying into Shaftesbury is a means to up the divi yield on CAPC's shares? |
Posted at 17/5/2014 13:00 by sven2006 This goes ex-divi on the 21st doesnt it ? Will the price go down a little on that day ?Sven |
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