Capital & Counties Prope... Share Discussion Threads

[essentialinvestor] 06/3/2023 17:31

* because it's no longer trading.

[nickrl] 06/3/2023 17:20

so why was CAPC up nearly 6% today but SHB was static?

anyhow we need a new thread for SHC

[essentialinvestor] 06/3/2023 13:05

New era begins ..

[nickrl] 26/2/2023 17:20

Merger approved new company will be known as Shaftesbury Capital PLC listed from 7th March.

[nickrl] 24/12/2022 10:18

CMA will make a decision on whether to refer merger with SHB to a full investigation on 22/2/23.

[essentialinvestor] 19/8/2022 17:57

At the current price it makes little difference Nick. I also traded a small amount
of Capco today for £170 profit, which is small beer but helps reduce the holding cost.

The only case I can see for favouring SHB is an outside chance of the merger
not completing - if that were it happen then SHB is Up 8-10% immediately.


However, the UK is headed full speed for something dire economically.
That's only fair to add and anyone who considers otherwise should try living in the real
world instead of a shell.

[nickrl] 19/8/2022 17:26

EI CAPCC/SHB are pretty well tracking each other down with CAPCC making another 12mth low today and SHB only a few percent off their 12mth low. CAPCC now at -47.8% to NAV to SHB's -33.6% and whilst im not overly confident about next 18-24mths not sure we are in Domesday scenario space just yet but others clearly less confident. So am getting interested at these levels but can't make up me mind which one would be most beneficial to go in prior to the merger.

[essentialinvestor] 19/8/2022 15:48

Bought 8% back today at just over £1.32,
however increasingly concerned about the growing impact of UK energy prices
on both the domestic and business sectors.

[essentialinvestor] 17/8/2022 14:59

Nick, SHB now trading atm at less than a 1% premium to merger terms,
their share price has partly fallen as the premium gradually eroded over recent weeks.

The reason I sold the bulk of my holding here, as mentioned a couple of weeks back, is
increasing caution on the UK macro outlook. Not tempted to buy those back at this point.

And fair point on the NAV - outside of recessions it was often upwards movement only for SHB.
That's from the mid 1990's.

[nickrl] 17/8/2022 14:19

EI yield is pathetic on these there selling point was NAV always went up but thats not assured anymore. Also SHB keeps falling and given they hold 25% of them must be acting as a drag. At the moment not sure what the combined group is going to like and what their plan is for dividends so im siting on the fence. The HY results and metrics were good but with economic headwinds how much momentum will be carried forward remains to be seen. They don'[t seem too exposed to t/o rent.

[essentialinvestor] 17/8/2022 12:45

Capco now moving in to a lower trading zone as recession takes hold?,
looks that way. Got down to about £1 in the March 2020 Covid plunge low,
would not expect that price again, but never say never etc.

[essentialinvestor] 04/8/2022 09:52

Sold most of my holding, hopefully can add those back again lower down.

If we were not facing recession would hold
but expect today's BOE outlook to be dire.
UK macro outlook now appears to be rapidly dimming.

[essentialinvestor] 03/8/2022 16:37

Nice close, pinging between the the lower and higher 140's atm.

[essentialinvestor] 02/8/2022 13:30

I bought 44,000 shares in several lots on the 27th down to 143.331, which I sold the last 2k of yesterday at 149.56. Have just bought back a small amount.

Hopefully some renewed volatility for wider markets as I'm heavily in cash currently -
the last 3 weeks have been quite painful with strongly rebounding equity markets.

[nickrl] 02/8/2022 13:24

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.

[essentialinvestor] 27/7/2022 09:07

Added some back.

[essentialinvestor] 22/7/2022 11:37

Sold a few.

[essentialinvestor] 15/7/2022 16:33

Added today and yesterday, no one else like the medium to longer term prospects
for the enlarged group? - looks compelling, all be it we have a likely recession
to navigate firstly and lower levels here more than possible - arguably probable if
equities head south again.

[essentialinvestor] 08/7/2022 18:52

Decent few days for GPE, nice turn there this week in a difficult market
and think it looks longer term value.

HLCL also beginning to look interesting - both of the above, as with Capco
likely to be hit on further market decline.

Landsec also looks interesting to me.

[nickrl] 08/7/2022 18:28

EI it will be depression if the price cap goes to 3k

[essentialinvestor] 08/7/2022 17:35

hindsight, I'm guessing that by the end of this year we will have
the first talk of rates cuts. Recession likely to hard in the autumn.

[hindsight] 08/7/2022 15:07

EI, how do you feel they can handle yield expansion if 10 year gilts get above 3% ?

[essentialinvestor] 08/7/2022 14:45

Getting some attention following the after hrs trading update.

Worth a look on a bad day.

[ram376s] 04/7/2022 10:26

Time for gdr share .

[essentialinvestor] 30/6/2022 18:40

Had another few before the close, also HLCL and GPE.

This could very easily go lower with markets but longer term better.