CEO’s purchase probably equivalent to me buying £100 worth ! Still, better than him not buying any I guess. |
Indeed - a £50,000 investment. He agrees with the rest of us - 87p is absurdly cheap! |
It's not material given his salary but I suppose it's something at least. |
Solid buy... |
CLI divi landed yesterday in HL - wow. Love the lumpy ones. |
I sold out earlier this week to transfer funds into mine and my wife's ISA's, planned to repurchase these around the 83p mark, unfortunately, it takes around a week to transfer the funds, now they are up +5% as I type, bloody frustrating,
wllm :) |
I bought a few more re-investing divis and coupons. It's still cheap enough here unless you think offices will go out of fashion. |
If it's dividend re-investment, then they are quicker off the mark than my broker! I'll go for the sale of Spring Mews for a good price as I've not been able to find anything about this. |
I'll be very happy if you are correct! |
CWA1 - divi reinvestment - could well be of course; but hopefully an indication of something afoot. Had a bid for my TRIN holding yesterday - so now looking for the double! |
Moderately perky by CLS' standards today. Everybody re-investing their dividend? :-) |
👍👍 |
barnes - divi 7.95p; EPS 10.2p. See result links in Header. |
Thanks nick |
@barnes dividend is covered by free cash flow currently. CLS historically weren't a REIT so they retained a much higher level of free cash and as their interest rate burden has increased they've been able to hold the dividend. They do have an increasing vacancy level and further refinancing to contend with that will erode this margin of safety but thats more than in the share price although with its incessant drifting lower i do keep asking myself what am i missing. |
How covered? |
Patience has to be the name of the game; and holding CLI provides a 9.6% covered yield whilst we do so. |
RSI & MACD both improving. Sp trading 6% below 50day MA & a full 20% below the 200day.
Crazy cheap; but so much now in that category on the LSE.
free stock charts from uk.advfn.com |
ghhghh - the details of all the charges can be seen on Companies House if you wish to trawl through all of the CLS companies but I think the main point being made is that there is no possibility of a domino effect on the whole portfolio. However there are a number of the companies which have more than one property charged against them, look for example at CLS UK Property Finance 2 Limited which has 8 properties listed under schedule 2 on the Charges page. |
You can see what you are buying here hxxps://www.clsholdings.com/our-portfolio.aspx#/mapview/all/
Quite a lot of it still seems to be advertised for rent. I assume this is standard practice and a lot of it won't actually be available? |
It's not totally specific but the AR says that "Most" properties are ring fenced in their own SPV with non-recourse lending in each SPV. It says there are some instances where this is not the case and that decision was taken to get better loan deals.
They also list the names of the SPVs in the AR and each is named pertaining to the properties within it. So you can sort of do a reconciliation there.
So in summary its not 1:1 SPV:Prop but it looks pretty close.
EDIT: It's just been pointed out that there are 33SPVs and 86 properties so not even close to 1:1. |
Does anyone know the breakdown of the ring fenced properties>
Are all assets non recourse?
And how many baskets/size of each basket?
CLC in a very strong position if each individual asset is ring fenced, less so if baskets of multiple assets which I assume is the case? |
What's holding you back...Middle East worries? |
PH moved from hold to add. I've seen the note it doesn't add much to what's been discussed here. |
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