Thanks Sleepy- but really pretty meaningless, as with most wholly owned subsidiary accounts. Note they were to Dec'23; so everything covered in the subsequent Group accounts. |
JPM mandating 5 days in the office for full time employees - work from home now appears to be a 'culture war' issue.
Regardless of investments, I strongly believe WFH is a net negative for wider society, particularly for younger workers. There are exceptions, as always |
2023 Accounts from a CLS subsidiary - |
The only thing that holds me back from averaging down at this price is the remarkable absence of any meaningful insider buy for a while, so it is not as good value as it seems. However, there must be a point where it will be a good investment for patient money. So keep watching. |
Like a stone. As with political discourse, so with share values, there seems to be an Overton Window by which the previously unthinkable become the new normal. How soon before 11%, 12%..? |
Well FWIW, I'm of the opinion that income is patient, whereas share price movements are not. The trick lies in knowing whether or to what extent that income is sustainable and an indicator of value. Ceteris paribus, a 10% income stream is not to be sniffed at, equating to a doubling of your money each 7.2 years. If this yield were unique in current market you might be sniffing a ponzi scheme; but it's not. Given that there many such examples, the reason is likely to be less company specific than economic and a function of investor sentiment. But that's my hunch, so obviously NAI. |
"The definition of a long-term trade is a short-term one gone wrong" probably fits my portfolio best :) |
Certainly beats a world class loser like me ;-) |
I'm an average loser does that count? |
It's always nice to find out you're not the only one averaging down on losers :-) Nice-but not as nice as when they eventually turn out to be winners :-/ Does that ever happen? |
I've been averaging losers today too. |
Topped up @76p |
Yes there was a time when extending a lease by 10 years at an above market rental rate would be good news. I guess the bond markets are dictating the share price movements presently. Just have to close my eyes and collect the dividends. |
Uk is not investable anymore |
Well that was well received |
12 year low is 77p. |
Decided to come on board here, assured by the presence of Skyship's analysis.
No pressure.
;)
Does seem like an overlooked situation, which I also noticed on a Paul Scott buy list for 2025. |
Although we've yet to have a RNS regarding recent property sales, I see that the CLS website has reduced the number of properties owned from 81 to 80 today. Looks to be one of the UK properties although not Spring Mews. No doubt they'll update us shortly. |
As I stated on the VALU thread on New Year's day:
"As regards any further falls in the NAV; if you slash another 15% from 227.4p to 193.3p the discount would still be 59.6%! Slash by 25% and still 54.3% discount...
The shares have fallen so far, so totally friendless that the resulting NAV discount is almost irrelevant. It is the dividend that is more important.
The dividend of 7.95p is covered 1.3x by EPS; and looks totally secure. So that 10.2% yield handsomely rewards as we await events." |
The good thing about well diversified REITs is that you don't get a calamity; other than sentiment against their chosen sector.
We've had that in spades of course; but the valuation takes everything into account. A 66% discount and 10.2% yield suggests a new year rally more than likely. |
Indeed yield now firmly above 10% but market is clearly expecting a calamity still!! |
Looks like ending the year at a new low. Where is the spring mews sale? |
Look what Christmas Eve did! |
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