Made this my Tip for 2024 over on the new annual JDT thread. |
Thanks. Added a few. |
@Aishah i believe we can be reasonably assured as CLS is a pure office play they aren't going to set the world on fire anytime soon and will probably report increasing void levels. That said they have been conservatively run for years so have been able to absorb increased interest rate costs without any threat of divi coverage falling below 1 so far. There is also the possibility the family who own over 50% take the whole thing out. DYOR of course |
Such a big discount to NAV. Generally market is ahead of PIs. So bad news coming here soon? |
Just entered at the very round price of 100... Reinvesting part of my EPIC funds.
The rest to top up SREI (I know some of you have sold it, but I am very pleased with their management) |
I'm doing my best, I topped up an already overweight position this morning... |
SKY - lol, see my comment on EBOX thread. |
Just needs someone to clear my 39k off 99.5 ;) |
She's just itching to burst through that 100p barrier.
Mister MD - go round up a friend to follow you in!
free stock charts from uk.advfn.com |
In at just under 99p. I notice this was trading at 300p just prior to the Covid dip. |
It was the UT, perhaps not a surprise on witching day, particularly with CLI being involved in the relegations. Took a few. |
A bizarre 2.9m sale at 96p! No wonder they couldn't break through the 100p resistance.
What now I wonder as there is no way a MM would have taken that stock on their book.
Presumably we'll see that the family have bought them...& if so the battle with 100p can resume. |
Being removed from the FTSE 250 index on Friday and going back to the small cap index. Shouldn’t cause too much disruption as this has been known for a while and any index funds have been rebalancing ahead of the event. Fundamentals remain the key driver IMHO |
REITs strong across the board, along with the general Market. CLI however, still struggling with the psychological 100p threshold. |
If it can break through 100p we should see quite a smartish uptick, perhaps to an initial 120p:
free stock charts from uk.advfn.com |
Their Art Deco building in The City now being marketed. |
About 15 years ago and before I retired from the city is used to be an investor in CLS. The directors were very shrewd property operators and had a great reputation. I don’t think this has changed. I hadn’t really kept in touch with the share price until I noticed the extremely large directors purchases in the summer months. Been waiting for interest rate expectations to ease, which they now have. CLS have struggled to rally with the sector but to me that’s an opportunity. With the shares standing at less than half the expected NAV and yield (historic) of over 8% I’ve taken a position. Prepared to sit tight and wait for the markets perception of CLS to change. To me this represents a solid value play |
Thnx for that. Good to see some sensible stats.
After the recent recovery pretty much across the whole REIT sector, CLI's 8.2% is now a stand-out high yield. |
SKYSHIP
Yes.
Liberum PT 180p, BUY. NAV 24E 268p, 25E 277p. Note dated 15th Nov
Berenberg PT 175p. BUY. NAV 24E 266p, 25E 269p. Note dated 15th Nov |
Thanks, will take a closer look. |
No, most of their offices are principal cities; and their debt is tied to individual properties and non-recourse.
So, no, not plain sailing - nothing like RGL for instance.
Hence my interest; and my view that the vertigous fall to a 66.7% discount is way, way overdone.
Bear this in mind too - the yield is now a very well covered 8.2%. |
Perhaps, although CLI is all regional offices and their debt situation doesn't look great so probably deserves to have lagged the ones you highlighted. |
Time for CLI to play catch-up:
free stock charts from uk.advfn.com |
ghhghh - where do you see the projected NAV figure. Don't see any reference in the CLI Update. Also the target price of 175p!
Are you referring to a broker note perhaps? |
I've only seen their Note dated 15th November, Buy PT 175p
Projected NAV of 265p in 2024 |
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