According to their website, Estimated full year results (Announcement)is now 01/04. |
Anyone else think early march finishes today? |
Looking for last year's final of 5.35p to be held; though may well be reduced a tad to improve cover. |
My apologies. I note Final Results scheduled for March 27. |
I seem to have lost the plot. Does anyone know if CLS is paying a final dividend? |
Offices are not in the same position as distribution reits. Best looked at separately. Over-renting much more likely to be applicable to the office subsector.
There is some good news about valuations starting to level out. But land sec selling £2bn out of offices and buying residential is not a good sign.
Above 50% LTV it is all about the financing. Spring Mews was originally due to be completed end 2024. Then start of March. Every week without news is another nail in the coffin, especially with bund yields soaring.
Suspect good news on the political front next week will lift all boats. But would feel uncomfortable holding atm. Reits should be boring, but the next few weeks might get interesting. Expect some volatility! |
I think more disappointing thing is the lack of re-across from the recent WHR bid and speculation around SHED. German yields just posted their biggest rise in 40 years this week which is obviously not good; a huge European stimulus package on the other hand is a positive. Gas price declines and a trade war can materially bring UK inflation lower opening up room for perhaps slightly more aggressive UK rate cuts than anticipated.
The main thing to my mind - CLS is a super heavily discounted; highly leveraged vehicle which needs to divest assets to lower LTV. It seems like there's activity in the market and a clear window for them to manage the LTV lower via sensible sales. They are going to need to get their act together regarding the process mind and any further delay of a Spring Mews sale which we should be getting confirmation of any day will cause me to reconsider the holding. |
pressures up and down. rate cut yes, but the germans are wanting to fire up the printing presses, bund yields up significantly over the last 24 hours.
ecb doesn't know if rates go up or down next. "evolutionary approach" is what they say when they don't know |
You would have thought that todays cut in the ECB rate would have helped here |
Germanys change of policy today is likely to shift the long term view on Euro rates in an upward direction although down at this level they've got more than enough margin to deal with it. |
Ok thanks Skyship - much appreciated |
Half yearly - 2.6p + 5.35p = 7.95p. Last year EPS = 10.3p.
This year that may be reduced to just 9.2p; in which case final divi could be reduced somewhat - though not necessarily. |
Sorry I am being lazy here but can someone confirm the dividend payment frequency, it it quarterly or half yearly? Thanks |
From the IC:
The path of monetary policy in the euro area is becoming more uncertain. Policymakers are widely expected to cut rates again at next Thursday’s meeting, but dissenting voices are growing louder.
Isabel Schnabel, one of six members of the European Central Bank’s executive board, confirmed her hawkish stance last week by telling the FT the bank should “start the discussion on how far we should go”.
Euro area inflation has risen for four months in a row, albeit it is still relatively low at 2.5 per cent. Investors expect interest rates to fall from 2.75 per cent to 2 per cent by the end of the year, the cutting process having started when rates were at 4 per cent last June.
The economic picture, meanwhile, is mixed. After months of stagnation, January’s HCOB purchasing managers’ index data pointed to renewed expansion, but this month’s figures showed hints of fresh weakness. |
No, it’s merely back to its 2012 level. Pretty dire either way though. Hopefully we are close to the bottom, but I’ve though that multiple times already. |
Thats a new ATL i believe? Don't know whose been selling but been no RNS's and I know the family are dominant holder but there are other inv mgt companies on the register. |
The Uncrossing Trade (UT) of 4.7m shares at 70p is a matching of buyers and sellers under Direct Market Access, trading on the Orderbook, not through MMs.
So hopefully that will finally be the end of the Tap; and good to see a buyer (buyers) taking the stock. |
Interesting end of day activity yesterday, surely if there is a large seller about, that must see the end of their holding. |
"So they paid an average of c 6.13% on the remaining £17.8 million of debt"
I think that's possible given where rates are. It would all depend on the asset backing in the SPVs. I think it's quite complex. |
I'm sure they are very good at making shiny new units. But at LTV over 50%, it is all about the finances and that's the point.
I know my mortgage rate, but a multimillion company doesn't know theirs? |
Printing 4.05 instead of 4.99 was more likely a copying error. For example, the person responsible read the number across from a neighbouring row or column, or they failed to update the number when the text was prepared by editing a previously issued text. Otherwise, it could have been a fat-finger error at an earlier stage of the calculation.
Whatever the source of the error, it doesn't look very professional. (I make such mistakes, but I would get my work double-checked if I were publishing reports on the investment of £ millions of other people's money!) |
Seems to me that management are (very?) clever (eg Aviva loan :-)))) but ………;….. |
sigmund - well I guess that puts paid to your scare stories. |
How is 4.05 a misprint of 4.99?? The numbers are nowhere near one another on a keyboard. This was the fy report was it not? Meant to be checked and audited?
If something like this goes through, seriously, how can you have confidence in any of the other numbers?? |
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