Cls Share Discussion Threads

[cordwainer] 08/9/2020 12:19

..and i sold all again at a modest 6% profit including interim divi and costs, but not a bad return in just 2 months. not convinced office demand (both prime and non-prime) is returning to pre-covid levels in general, i just thought the heavy discount to NAV in July was overdone. nice company but i feel uncertain about significant further upside. GLA.

[essentialinvestor] 08/9/2020 11:01

Sold a few.

[essentialinvestor] 03/9/2020 16:08

I got 1.92 recently so it was very close to that.

[its the oxman] 03/9/2020 10:56

Nibbled a few more sub 200p. Wanted more but didn't quite touch 190p. Suspect I will regret that.

[hindsight] 01/9/2020 10:44

EI, thanks. Another that has done well over time is TRY investment trust. At present got 10% discount vs par precovid. Have 63% in EU be that good or bad

[essentialinvestor] 25/8/2020 10:48

Watched the recent results call webcast, very impressed. No corporate speak, no spin. Just a very clear, calm explanation of their markets and where they see opportunities going forward. Their rebt collection stats are unmatched (in the sector) over the past 2 quarters.

[hindsight] 21/8/2020 18:55

Looking to add around 185p, think get another little shake in next couple of months, be it brexit deal cliff edge, covid spike or vacccine delay

[its the oxman] 21/8/2020 11:36

At some point the market will see the attraction of cls again and these could run toward 300p. Mind you same could be said for wkp and a lot of property rated stocks tw, vty. But at least div seems quite secure here.

[essentialinvestor] 18/8/2020 17:54

Hoping for a dip around 1.90/95.

[essentialinvestor] 14/8/2020 10:09

Had a small amount, hoping to add now and again on risk off days.

[essentialinvestor] 13/8/2020 23:59

Yes may be. Helical have conducted share placings previously, not often.

[cordwainer] 13/8/2020 22:56

.. ditto Helical plc. I can only speculate - the reason for not going private is to do with finance options and maybe even cost of finance, whether necessary or opportunistic. In the case of secured loans the ability to issue shares publicly via LSE must pose an extra margin of safety for the creditors.

[essentialinvestor] 13/8/2020 17:45

Wonder why CLS remains listed and not taken private by the controlling shareholders?. They don't use the market to raise equity, for years they bought back shares reducing the share count. Perhaps with some of their government agency/large corporate clients, a premium LSE listing adds some solidity and helps with lettings?.

[its the oxman] 10/8/2020 14:41

Added c.190p

[essentialinvestor] 28/7/2020 17:17

Given their record, they arguably deserve the benefit of any doubt.

[cordwainer] 28/7/2020 17:11

As the RNS said, improved public transport is anticipated in this particular case, arguably making it an up-rated, higher quality asset in that sense. While CLS quotes a NIY of 3.6%, no doubt purchaser anticipates improving on that as the area develops. As for CLS well it's a nice, perhaps fortunate, turnaround of capital profit over quite a short period. The question remains whether that capital will be recycled into assets of equivalent prospects and quality. Maybe they'll identify other opportunities within the economic tail risks of covid.

[essentialinvestor] 28/7/2020 10:54

That disposal was 38% Above December 2019 book value!. How the hell did they manage to do that.

[cordwainer] 24/7/2020 07:08

Improved balance sheet as of today's disposal. And the value uplift implies a higher NAV than reported.

[cordwainer] 17/7/2020 21:06

Maybe any office rationalisation is likely to be at least mitigated by the need for more space for social distancing measures.

[essentialinvestor] 17/7/2020 19:23

Given the exceptional longer term record of CLS, surprised this does not get more attention and comment. They went in to the last downturn heavily geared and managed to navigate a very tricky market and produce great returns through the cycle. Unless we are facing significant commercial office rationalisation, longer term outlook looks good?, or am I overlooking something?. Appreciate the outlook for 2021 is pretty dire. Not holding atm.

[acol] 10/7/2020 17:18

I have bought and sold over the years. I missed the opportunity of buying around 160p early post covid. However biding my time I bought in the morning of 14 May and at a lower price in the afternoon. Using my old maximum of selling when the Investors Chronicle recommended buying, I sold at a healthy profit on 5 June. I don't normally trade shares but I felt this share was undervalued even in these difficult times. Who knows whether Covid will fundamentally change the way people work, rendering working from home as the new norm. If that was to happen then property companies would catch a cold. Notwithstanding this fear I bought back in at an average price of 189p. Nice to see a healthy tick-up today on reasonable volume. In my view this is a well managed company with an interesting property portfolio. In previous years they had an innovative way of giving dividends back as capital. This was a tangible sign that they took account of their shareholders by allowing them a tax free income without having to use an ISA. Nowadays I buy under an ISA so tax is no longer an issue.

[cordwainer] 08/7/2020 17:34

Market seemed utterly disappointed with today's 'happy' trading update including near-enough full rent collections. Although of course it does lack explicit forward guidance / outlook. Still, I foolishly bought back in this morning.

[jeff h] 04/6/2020 20:53

One of the main Buy tips in tomorrows IC