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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
|
|
|---|---|---|---|---|
| -0.30 | -0.46% | 65.00 | 12:35:16 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 64.80 | 64.80 | 65.20 | 65.00 | 65.30 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT & SERVICES |
| Top Posts |
|---|
Posted at 28/5/2025 08:10 by skyship Being a chartered surveyor doesn't make you a good property investor/trader, whatever. I just think she's naive about the management of the Company.Clearly the CEO & CFO have failed; and should be replaced. Company started going downhill when Richard Tice stepped down as Chairman - he is now the Reform Party No.2. |
Posted at 26/5/2025 11:27 by scrumpyjack1 Where the founding family have held the company's shares for decades, they tend to be far less concerned about 'short term' (in their view) share price movements than external investors. It is both that their time frame will be hugely longer than you and I and that they are rich enough to shrug their shoulders and get on with their lives - they have enough money to do that. I have known a number of people in that situation and that comment is based on personal experience! You could interpret this as indicating that they think CLS will get through this 'cycle' and it will all be OK in 5 or 10 years time. |
Posted at 22/5/2025 14:29 by sleepy They are investors in office property which has been a tough place to be in recent years. The share price has fallen dramatically. However, based on year end balance sheet values, the NAV seems to be down c 40% from c 3.27 at end 21 to 1.97 at end 24. |
Posted at 11/5/2025 11:51 by pyufak the issue somewhat is the controlling stake doesn't allow activist investors to break CLS up nor buy with the intention of changing the board / gaining influence. One could read into price action / board lack of urgency that the family feel long the option - that they can comfortably block any aggressive take over while choose to take the company private should they wish if the market pricing truly becomes insane...I am assuming here they have significant resources outside of this holding which is a big assumption - but Sten was listed in 2018 in the rich list at 675m wealth paying 21m tax. Net, I still feel the family silver, in particular some of the European assets let to regional councils (prime tenant), should go to lower LTV and funding costs. I would like to see the process being pursued quicker however this is unlikely and so we probably will stay in this quagmire |
Posted at 29/4/2025 15:36 by davidosh It has certainly got me interested. I am trying to get the company to come and present to investors at Mello2025 in Chiswick |
Posted at 25/4/2025 09:42 by nickrl RGL has had quite a bit of renaissance over last few weeks and now significantly deviated from CLS. Still not an RGL fan but the painful reset there leaves it in better shape and around 18-24mths before the next big refi. Of course they also have a big investor on the register now who can swoop in should it get into trouble again. Thing is CLS is really in same position where the family could take it out and surprised at these depressed share levels we haven't seem some share purchases but maybe there still below next threshold. I know the directors make the odd purchase as well be well rewarded with share incentive plans. |
Posted at 09/4/2025 17:26 by davidosh This one seems intent on finding its way down the plughole. Not many property backed investments will have lost nearly half their value in just over five months and yet the management seem unable to get confidence back into the company.They seem astonishingly well remunerated so I guess they think completely differently to investors. They should be paid far less and aligned with investors IMO |
Posted at 01/4/2025 14:23 by williamcooper104 You can maintain reit status if you're unlisted, you need, from memory, 5 or more unconnected investors. So they could participate in a take private |
Posted at 27/3/2025 07:10 by arbus5000 The student accommodation has been sold for 8.1% above book value, and they have reduced some of the higher cost debt, which should dampen the effect of the reduction in EPS due to its sale:The sale has also provided an opportunity to address upcoming loan maturities for New Printing House Square in Holborn and Artesian in Aldgate, which were due in June and December 2025, with the properties being substituted for Spring Mews Student into an existing portfolio loan with Aviva Investors. Consequently, on completion of the Spring Mews sale, the disposal proceeds will be used to repay £85.8 million of debt for the two properties being substituted into the Aviva Investors portfolio. The restructuring of the financing allows CLS to repay more expensive debt whilst retaining the Aviva Investors portfolio loan largely intact, which is fixed at 2.54% and expires in 2030 and 2032. The sale of Spring Mews Student will therefore be marginally earnings enhancing. This will also reduce CLS' year-end cost of debt by over 20 basis points and LTV from 50.7% to 47.9% on a pro forma basis. |
Posted at 07/11/2024 17:00 by skyship Back down to 90p! NAV discount at 60%. Yield up to 8.8%.Time to change the way we look at Reits Changing market conditions call for changing valuation methodologies IC - Published on November 6, 2024 by Natasha Voase The property sector has always liked to do things differently. While other sectors debate price/earnings ratios and enterprise value to Ebitda, real estate investors wax lyrical about discounts to net asset value (NAV) and loan-to-value (LTV). This approach made sense in the old world of declining yields and interest rates, says Tim Leckie, an analyst at Panmure Liberum. Falling rates meant shifts in portfolio valuation were a large component of returns. But now that rates are higher and valuations unsteady, Leckie says the focus must be on cash flow generation. Reits need to be able to generate enough cash to pay down increased interest costs and grow. For the low-yielding, low-risk portfolios of times gone by, this is a problem. Yet for Reits, just as when it comes to valuing companies more generally, no valuation metric should be taken in isolation. Harm Meijer, managing director and co-founder of real estate fund manager ICAMAP, says that this is why investors need to look at multiple valuation metrics, including net debt to Ebitda, funds from operations (FFO) yields and price/earnings ratios. "Every ratio metric has its drawbacks," Meijer says. "Because if [for example] you only look at the cash flow... the problem is you can really increase your FFO by just taking on more leverage, by buying assets." Analysts at Panmure Liberum have created what they call the Medium Term Sustainable Earnings (MTSE) metric, a seven-year figure encapsulating reversionary potential, administration costs and refinancing drag. The MTSE total return blends yield plus growth to give investors an idea of what their medium-term cash earnings per share might be. The chart below shows the result of those calculations, albeit outliers such as Grainger's estimated growth rate should be treated with caution. With that in mind, the stocks that stand out: Sirius Real Estate (SRE), Urban Logistics Reit (SHED), Segro (SGRO), CLS Holdings (CLI) and Life Science Reit (LABS). Analysing Reits through the lens of cash flow throws up some new names that look mispriced. Discounts to NAV alone might encourage investors to buy giants such as British Land (BLND) and Land Securities (LAND), given their discounts sit at around 30 per cent. However, from a forward-looking price/earnings perspective, they trade at 13.6 and 12.1 times, respectively, implying earnings per share of 41p and 71p. Even if investors favour Epra EPS of 42p and 50p, respectively, these valuations look fair or potentially a little high. |
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