Cls Share Discussion Threads

[cordwainer] 12/3/2020 12:52

"cordwainer21 Oct '19 - 12:30 - 167 of 179 Edit 0 0 0 Happy to cash out with a nice 20% gain after 3.5 months, quicker than I expected. Price getting relatively close to NNNAV/ps vs other property plays although probably deserved and div. cover from last results suggests a healthy div increase could occur. Price action looks like new trading range too, say 250 to 275 (?). Won't be holding my breath for below 220 again anyway." I see 219.5 now :-( Historic levels of carnage / panic.

[cordwainer] 09/3/2020 16:09

...'given the outlook'; only problem being that the market seems to have been downgrading the outlook on a daily basis. Still, I'm not sure every client would be tearing up their property lease even if workers generally get restraining orders on commuting.

[jeff h] 06/3/2020 11:22

Liberum: CLS is too cheap Commercial property investment business CLS Holdings (CLSH) is too cheap given the outlook for the business, says Liberum. Analyst Christopher Spearing reiterated his ‘buy’ recommendation and target price of 310p on the stock, which gained 3.2%, or 8.5p, to 268p. Spearing said full-year results were ‘strong’, helped by European diversity and an ‘income-focused approach’, with net asset value (NAV) growing 6.3% - ahead of forecasts. ‘Disposals were significantly ahead of December 2018 valuations, giving us confidence in a management team that is executing its repositioning strategy well,’ he said. ‘Capital continues to be recycled into attractive opportunities which offer the potential to generate higher returns.’ The shares currently trade on a 22% discount to NAV compared to the UK real estate sector’s 3% premium ‘which in our view is too cheap given the relative outlook for the business’. Https://citywire.co.uk/funds-insider/news/the-expert-view-itv-saga-and-cineworld/a1331303?ref=citywire-money-latest-news-list#i=6

[its the oxman] 05/3/2020 10:44

Decent results, well placed to deliver further growth, and div up. May take a little time to get back above 300p but it will.

[its the oxman] 12/2/2020 19:27

Bought back in today 269p

[truffle] 28/1/2020 00:01

Liberum target price up from 300p to 310p

[truffle] 31/12/2019 09:57

The UK is one of the three markets in which CLS operates. The other two being France and Germany. Today's statement has clearly defined London and the South East as the area in which CLS will concentrate its UK investment strategy in future, with only two assets now held in the portfolio outside that area.

[sammu] 20/12/2019 11:56

A decent sized check was traded at 312p I think a couple of days ago. Due to the lack of freely traded shares here I think institutions often have to pay a premium to get a chunk.

[truffle] 20/12/2019 08:35

The recent flurry of buys taking the price over 300 pence is presumably explained by the fact that Peel Hunt raised their target price from 275 pence to 325 pence.

[truffle] 16/12/2019 13:57

Unlike both of you I remain positive about, and invested in, CLS. With the election out of the way at least there is some element of certainty going forward, and the well balanced spread of investments in commercial property across the UK, Germany and France makes it an attractive looking medium/long term investment. A good track record with good management too.

[cordwainer] 12/12/2019 20:47

.. with the last trading update saying results should be in line with expectations, and triple net assets per share of 284p at the interims, i would think that's a fair price, the difference being potentially the same as the dividend, seen as they have plenty of cash and it likely being increased from last year. Although i made a nice profit it turns out i sold too early at 264p in october.

[its the oxman] 10/12/2019 11:23

Sold out 292p, probably a mistake.

[cordwainer] 21/10/2019 13:30

Happy to cash out with a nice 20% gain after 3.5 months, quicker than I expected. Price getting relatively close to NNNAV/ps vs other property plays although probably deserved and div. cover from last results suggests a healthy div increase could occur. Price action looks like new trading range too, say 250 to 275 (?). Won't be holding my breath for below 220 again anyway.

[truffle] 21/10/2019 11:04

I actually meant the Mortstedt Trust which owns about 50/52% of the shares. If they were to reduce by, say, 10/15% then they would still have effective control but there would be greater liquidity in the shares which could attract other investors who see the company as clearly investable but with a somewhat illiquid market in the shares.

[cordwainer] 17/10/2019 17:40

..good call, looking at who's been selling.

[truffle] 18/9/2019 16:22

If the Mortstedt family were to release some of their shares then I imagine the share price would climb rather higher than it is now.

[cordwainer] 18/9/2019 16:10

ok thanks forgot about that. just found my old notes again, they also have about £100m of swedish equity and bonds on the balance sheet (?!), 89% offices, 9% student and hotel, 2% retail.

[truffle] 18/9/2019 15:59

Not aware of Sirius, but possibly because it's investments are all in Germany which generally seems to be a stronger market. CLS on the other hand has approx. a third of it's properties in each of the UK, France and Germany.

[jeff h] 18/9/2019 15:56

CLS has a majority shareholder in the Morstedt family and also has 1/3 of its property assets in the UK...so those factors do not help.

[cordwainer] 18/9/2019 15:29

Can anyone explain to me why Sirius Real Estate (german offices business) is trading at a substantial premium to NAV while CLS holdings is at a substantial discount ?

[jeff h] 02/9/2019 18:51

Today's news not a surprise, recent presentation highlighted CLI looking for 90 million to put into developments that will increase rents by about 9 million hence an earnings enhancing sale of Catena likely to be imminent .

[cwa1] 02/9/2019 18:04

CLS announces that ABG Sundal Collier has been engaged by Endicott Sweden AB, a wholly-owned subsidiary of CLS, to explore the opportunity to sell up to 3,971,349 shares in Catena AB ("Catena") (the "Contemplated Placement"). A sale of 3,971,349 shares would represent CLS's entire shareholding in Catena. The price per share in the Contemplated Placement will be determined through an accelerated bookbuilding process. The process commences today, 2 September 2019 at 16.31 BST/17.31 CEST and may be terminated at any time on short notice. ABG Sundal Collier AB is acting as sole bookrunner in connection with the Contemplated Placement. -ends-

[cordwainer] 15/8/2019 17:27

Not many blues like this on such a red day

[truffle] 14/8/2019 18:52

Liberum Capital and Peel Hunt maintain their respective 300p and 275p target prices here so very happy to maintain a long term hold