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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cls Holdings Plc | CLI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.20 | 0.27% | 74.90 | 16:27:28 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 76.30 | 74.60 | 76.30 | 74.90 | 74.70 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT & SERVICES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 07/08/2024 | Interim | GBP | 0.026 | 05/09/2024 | 06/09/2024 | 02/10/2024 |
| 06/03/2024 | Final | GBP | 0.0535 | 21/03/2024 | 22/03/2024 | 02/05/2024 |
| 09/08/2023 | Interim | GBP | 0.026 | 07/09/2023 | 08/09/2023 | 03/10/2023 |
| 08/03/2023 | Final | GBP | 0.0535 | 23/03/2023 | 24/03/2023 | 02/05/2023 |
| 10/08/2022 | Interim | GBP | 0.026 | 08/09/2022 | 09/09/2022 | 03/10/2022 |
| 16/03/2022 | Final | GBP | 0.0535 | 24/03/2022 | 25/03/2022 | 29/04/2022 |
| 11/08/2021 | Interim | GBP | 0.0235 | 19/08/2021 | 20/08/2021 | 24/09/2021 |
| 10/03/2021 | Final | GBP | 0.052 | 25/03/2021 | 26/03/2021 | 29/04/2021 |
| 12/08/2020 | Interim | GBP | 0.0235 | 20/08/2020 | 21/08/2020 | 25/09/2020 |
| 05/03/2020 | Final | GBP | 0.0505 | 02/04/2020 | 03/04/2020 | 29/04/2020 |
| Top Posts |
|---|
Posted at 07/2/2025 10:34 by brucie5 I hold this as a dividend machine - like a property with a very high mortgage. The risk in the cost of servicing the debt; but the reward is then priced accordingly. Interest rates on their way down. |
Posted at 07/2/2025 09:38 by nickrl @Farrugia certainly improves things but 5yr swap rates are siting 2-3 times higher than they were and CLI has borne the brunt of that over last few years as they've had refi loans at very low rates a lot higher pushing up the interest charges. That said they were never over paying out on the divi and it was extremely well covered so never had to take a haircut unlike others. As long as occupancy levels hold up, and there is an if in that, they can square away this years refi load and still just about cover the divi. That ought to e more than enough to support the share price and move it up but can't see 100p anytime soon as offices are not yet out of the woods as we now have AI threat compounding WFH. |
Posted at 28/1/2025 22:03 by brucie5 Dr. Freud, on the chart I beg to differ. Yes, to pull up the all year chart there does seem a huge H&S from about 2019 when it reached 310; so it has now fallen to just short of 25% of peak value, which is a decline, peak to low, that always perks my interest if there is a going concern. Now clearly you think that's a BIG IF, but others here disagree and for the time being I'm inclined to follow them. We know that large mortgages can be affordable dependent on cash flows, so debt is not so much the problem being able to service that debt, while, from our pov, still paying a dividend.Incidentally, from a further chart perspective, the run under £1 can be scary, particularly from a great height, when the breaking of the big round number causes selling. That is also evident on the chart, where it failed to break back over the £1 level and instead, kept tumbling to its present 72p. Looking back along thee chart, this does seem to be another historic support level on two previous occasions, though you have to go back some way. My feeling, taken together with the much more general market malaise on high value/income REITS and ITs is that this is oversold. they just have to show the dividend as sustainable and we could find some dramatic recovery in due course. So I'm holding until the picture clarifies. I certainly wouldn't want to allow myself to be scared out of it. ;) |
Posted at 28/1/2025 16:43 by sigmund freud my apologies for coming back to this. i am not wanting to cause misery.personally i think there was a very large, well-proportioned head & shoulders above this fall. made over many years, increasing its power. the saying is that if the H&S loses its head (decapitation), then the body loses the same amount. i think the top of the head to the neckline was about 320p to 160p. so 160p less 160p is precisely nothing left. capitulation in action. i am not saying it will get to zero, but there is a lot of downward pressure. lots of people on advfn poo poo charts. but if there is a pattern there, don't be tempted to fight it. only fight it if the pattern is broken. and so far, it isn't. as far as i read (i am happy to be corrected) the last full year report spoke of the need to reduce the LTV. then it was 48.5%. the trading update in november said that the LTV had fallen to 49.6%. that sounds like LTV went up even though they sold properties. it is all there in black and white if you look. are you sure you can believe them when they say they are hoping that future sales will reduce LTV to 44.6%? there was a loss of £249M yet they say the dividend was covered 1.3x, what with? the higher the LTV gets, the more this acts like a financing company and the less like a property company, hence me asking the finance questions. and if you are PI, i have no problems you looking for high yield with things looking like they are at a discount. but a reit is not the same as an IT. most ITs are formed of shares which can be sold quickly at a market price and the funds distributed to shareholders via an mvl. svm emerging uk announced a vote on an mvl recently, with a nice spike of around 20%, which should go through quite quickly. that is really what you want from a discounted IT, nice quick profit which is aching to be realised. reits, if you get to that point of liquidating assets, have to sell buildings. that can take a lot of time, and the sale price does not necessarily equate to the valuation price. it is more related to the income that can be got from letting it out. and that is not a rosy place atm. personal experience with asli, is that they had very attractive assets which did take a surprisingly long time to sell. the share price could languish at low levels for a very long time whilst admin costs build up, if a break up is what you are holding for. opportunity costs etc. if i had money in CLI, i would accept the loss but transfer the cash into a different reit. many have also fallen a lot recently, so actually if you transfer you are not losing anywhere near as much as you think you are. but you might sleep easier at night. reits should be boring a bit like bonds. this one does not get a high rating from me. i would leave it to the big corporations. there was a nice bump up late in the day today, look to sell into any short term recovery. |
Posted at 24/1/2025 11:34 by sigmund freud but if LTV is going up when they are selling properties, they are struggling to cover their debt financing. LTV will get closer to 100% the more properties they sell. hoping for a distribution at the end is akin to hoping that LTV does not exceed 100% at the end. they are essentially in the market trying to get out. in this commercial office market, you want to be a tenant and not the landlord.as the properties get sold, fixed costs as a % go up and any reduction in interest rates might be cancelled out by higher rates due LTV. the easiest assets to sell are likely to be the stronger ones. they won't have sold the rubbish ones, no one will buy at a price they want. valuations are likely based on completed sales that the valuer knows about which are based on predicted income from tenable buildings. in the current environment with office buildings that may be hopeful. a signficant amount of tenancies are to government depts, but there is no sign of a return to the office there. upcoming uk budget cuts mean more and more of governemnt tenancies will end. same probably true in germany. the sub-company structure is designed to prevent one lousy asset bring down a whole company. the safety of that disappears if many of the sub-companies are in the same position. some reits will thrive at the end of this period, but they will be the ones with the assets everyone wants. many of CLI's types of buildings are being converted to student lets in city centres. but the individual company nature means that none of them will be able to raise the cash to refurb on top of an empty tenancy. and if you are a student landlord, you buy at firesale prices (or should do). don't look at this as you would at VOD halfing their dividend. in VOD's situation, you hope it will allow the share price to grow for a capital return. if CLI halves their dividend, it is a financial red flag and that you might not have a company to give you dividends in future. imho |
Posted at 24/1/2025 09:22 by spectoacc US evacuation of Kabul not the first thing that comes to mind with CLI :)Mind you, neither is ASLI - is nothing like CLI. As @ghhghh says, not going bust, they've silo'd the loans in groups of property SPVs. But it's sector & huge LTV vs interest rates, valuation, & divi. Surely a lot in the price down here, but not currently a holder. |
Posted at 03/1/2025 16:46 by skyship As I stated on the VALU thread on New Year's day:"As regards any further falls in the NAV; if you slash another 15% from 227.4p to 193.3p the discount would still be 59.6%! Slash by 25% and still 54.3% discount... The shares have fallen so far, so totally friendless that the resulting NAV discount is almost irrelevant. It is the dividend that is more important. The dividend of 7.95p is covered 1.3x by EPS; and looks totally secure. So that 10.2% yield handsomely rewards as we await events." |
Posted at 03/12/2024 08:38 by ghhghh Not sure what it's about, but in general at least part of CLI's problem is how much cheap stuff there is out there. Why would I buy over-geared, debt-risk (but not bankruptcy risk) CLI yielding 10%, versus eg SEIT, getting sold down by Rathbones, at 12%. Or NESF at 12%, or GSF at 14%.Because it offers more potential upside if you believe that well located semi prime offices will eventually be dragged up by Prime's increasing rentals/restricted availability, especially as WFH slowly reverses as appears to be happening. And office users want more space per employee. Which is going to be higher in 5 years? I own all four having recently bought back SEIT, Gore and NESF. Also bought FGEN I assume CLS suffering from exposure to France |
Posted at 03/12/2024 07:44 by spectoacc Classic :)Not sure what it's about, but in general at least part of CLI's problem is how much cheap stuff there is out there. Why would I buy over-geared, debt-risk (but not bankruptcy risk) CLI yielding 10%, versus eg SEIT, getting sold down by Rathbones, at 12%. Or NESF at 12%, or GSF at 14%. All with different pros/cons, but the market's changed. |
Posted at 23/9/2024 09:08 by renewed1 Thanks guys for putting me straight about quarterly divis. Confusing when you see this:Market Summary > CLS Holdings plc 8.63% Annual dividend yield 1.99 GBX Quarterly dividend amount |
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