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Share Name Share Symbol Market Type Share ISIN Share Description
Capital & Counties Properties Plc LSE:CAPC London Ordinary Share GB00B62G9D36 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.10 -0.06% 180.40 179.80 180.00 182.30 179.00 181.00 1,236,010 16:35:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 73.0 -704.7 -82.6 - 1,535

Capital & Counties Prope... Share Discussion Threads

Showing 51 to 74 of 75 messages
Chat Pages: 3  2  1
DateSubjectAuthorDiscuss
10/3/2021
14:04
Looking to add to weakness. However, as mentioned a hell of a lot hinges on the outlook for COVID.
essentialinvestor
10/3/2021
11:55
Earls Court will be mostly residential so I beg to differ that it was sold at 'peak cycle valuation'. Delancy has a good track record in respect of BTR (build to rent). Not sure the purchase of the Shaftesbury stake was a smart move. Time will tell on that one.
konradpuss
10/3/2021
11:30
BOD deserves some credit here. Disposing of the Earls Court asset at peak cycle valuation and snapping up the SHB stake near the trough. In terms of whether this is a dead cat bounce largely depends on whether Covid-19 restrictions are coming to an end. Overseas visitors also a significant factor, so airline travel returning to normality etc.
essentialinvestor
09/3/2021
20:29
Irish, the main Earls Court site was sold to Delancy. The old car park opposite is being developed in a joint venture. This is still on the balance sheet. A great bounce (dead cat perhaps?) from the bottom. The valuation and rent collection truly terrible.
konradpuss
09/3/2021
20:02
SP around 60% off the lows.
essentialinvestor
09/3/2021
13:21
Earl's Court is sold
irishmatt
09/3/2021
13:02
CAPC results out only skimmed headlines https://www.londonstockexchange.com/news-article/CAPC/final-results/14892253 - 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.
nickrl
24/2/2021
18:05
have a "sighting" amount here. Trades under net tangible asset value. Earls Court and Covent Garden come back to life.
undervaluedassets
02/2/2021
23:57
konradpuss certainly not going to get better anytime soon but with staycations only likely holiday/short term breaks this year may keep the wolves at bay for a while. Mr Market certainly pulled it back in late trades.
nickrl
02/2/2021
19:09
Essential, just look at the collection of rent % in the last quarter and the total 'hit' on valuation so far. Truly terrible. I reiterate - it will get much worse before it gets better.
konradpuss
02/2/2021
14:16
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.
nickrl
20/12/2020
20:40
The share price chart looks like a 'head and shoulders' followed by a dead cat bounce. I think the Shaftesbury figures including their Covent Garden J.V. (which performed the worst) says it all. It will get much worse before it gets marginally better
konradpuss
04/12/2020
14:16
A gift of a price, can only hope it come off a bit.
essentialinvestor
04/12/2020
14:09
It would seem so...!!!!!!!!
skyship
22/10/2020
09:15
Valuing SHB at 400p means a £113m write-down on their Summer acquisition of 25% at 540p. That's just 13.3p/share; so really not that serious when they trade at a now vast 55% discount. Is this becoming a buy at 104p?
skyship
13/8/2020
16:56
NED Lane and his wife couldn't resist 1.30 and picked up 109k shares
nickrl
12/8/2020
11:55
Hi Nick, appreciate the view. My average here is just under 1.39, not adding today.
essentialinvestor
12/8/2020
09:56
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.
nickrl
21/7/2020
17:42
Essential my take is they can control virus if there fleet of foot when local outbreaks occur but that needs HMG to accept the financially liability of the consequences so there is no reason to hesitate. My qualm with some of the REITs, propcos less, is other than CAPEX they aren't attacking the cost base especially there own salaries /fees and too many don't have much skin in the game either. Oh and you would have thought the low SP's would have had them all bottom fishing but they haven't which leaves me cautious on adding much more.
nickrl
21/7/2020
16:42
Hi Nick, appreciate the view and would agree. I'm holding 10 different REITS atm, which is getting a little ridiculous. Problem is autumn/winter looks perilous (to me) with a likelihood of rapidly escalating COVID cases.
essentialinvestor
21/7/2020
16:33
Essential as I say this very much leveraged to the tourist trade and that is on the floor currently as far as London is concerned. That said now leisure travel is permitted on public transport there maybe a progressive return and there was certainly quite a few more people on the train i took into London mid morning (now have to share with others in a coach whereas a month ago you got carriage to yourself!!). I'd like to know what deal they've got on t/o rents as that looks like the way they've gone and rightly so to keep tenants but how much is base rent and how much is t/o. Suspect we will have to wait til next results to get that answer.
nickrl
21/7/2020
10:12
Had a very small amount. Year low circa £1.31. Looks dire but pretty much as expected, as in anything but pretty. Salient issue is the outlook 12 months from now.
essentialinvestor
21/7/2020
09:50
'London calling, yes, I was there, too And you know what they said? Well, some of it was true London calling' Apologies for the randomness, happened to be listening to that Clash classic while reading the results and it is London property. What do we think folks?.
essentialinvestor
21/7/2020
09:21
Trading statement today lays bare the impact on NAV down a whopping 17%. Only 27% of rent collected in Q3 but 67% is on alternative agreements already be that deferred or turnover related. Yes they may have a prime retail estate and positive that local roads have been closed to assist but real issue is lack of footfall. Maybe with leisure journeys now permitted again there will be a pick up but without overseas visitors they will remain impaired for sometime yet. Question is is this in SP??
nickrl
Chat Pages: 3  2  1
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