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CLI Cls Holdings Plc

87.90
1.40 (1.62%)
12 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cls Holdings Plc LSE:CLI London Ordinary Share GB00BF044593 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.40 1.62% 87.90 87.70 88.60 88.60 85.50 85.50 253,640 16:35:20
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 148.7M -249.8M -0.6286 -1.39 347.34M
Cls Holdings Plc is listed in the Real Estate Agents & Mgrs sector of the London Stock Exchange with ticker CLI. The last closing price for Cls was 86.50p. Over the last year, Cls shares have traded in a share price range of 80.00p to 148.20p.

Cls currently has 397,410,268 shares in issue. The market capitalisation of Cls is £347.34 million. Cls has a price to earnings ratio (PE ratio) of -1.39.

Cls Share Discussion Threads

Showing 826 to 850 of 1075 messages
Chat Pages: 43  42  41  40  39  38  37  36  35  34  33  32  Older
DateSubjectAuthorDiscuss
26/10/2023
15:17
Now 88.7p...

PTBV 0.33 per stocko, f'cast to pay 7.99p for 2023 (1.24x covered), analyst Target Price 165.25*p....

Surely the Morstedts must be considering a buyout ?

* this would-coincidentally-be about their highest purchase point in the last 12 months.

Ho hum.

extrader
26/10/2023
10:20
A Mordsted family buy-out looks the final play her, nobody's that excited about their portfolio anymore. Cannot see this being listed much longer
bedford1976
24/10/2023
22:08
@m_kerr thought that at 140 now im not sure there is a bottom here although surely the family will just take it all over before long as it costing them less by the day!
nickrl
24/10/2023
21:04
CLS seems to be a very thinly traded stock. if one shareholder owns 55%, the rest is only £165m. 'yield' on it's own means nothing, it has to be sustainable. may be in a minority here but i think this is a bargain at these levels, despite the LTV.
m_kerr
20/10/2023
11:03
Strewth - CLI now a high yield stock! 8.44% at 94.2p...
skyship
20/10/2023
10:25
CLI owns the commercial office Tower in New Malden (or at least they did).

Tolworth Tower is vacant awaiting redevelopment planning permission for apartment
blocks - CNM Estates the owner.

essentialinvestor
19/10/2023
16:34
"Nick"ing my lines now ;)
spectoacc
19/10/2023
13:56
As the Quo said down down deeper and down....
nickrl
17/10/2023
13:08
Ex - re yr Q elsewhere - really no idea. Seem dramatically oversold and most likely are. However no getting away from the fact that their type of office blocks extremely unpopular. Look at the two twins in south London - Ewell/Epsom or some-such. Couldn't give them away nowadays.

Family should have kicked out the BoD long ago. Total incompetence not to have made a few sales and reduced LTV long ago.

Still on my Monitor; but prefer to buy REITs in other sectors, esp. EBOX - though their fall too has been precipitous and now on a yield of 9.2%!

skyship
16/10/2023
18:59
.."Not in here but reckon they have more hope than RGL and always possibility family will just take it private..."

Could be. Does the rule about having to pay the highest price paid in the last 12 months apply to family members who've bought?

That might put a damper - or at least a floor - to their plans, if so...

.."on 10 October 2022 .. Anna Seeley, Deputy Chair and Non-Executive Director of the Company, purchased 34,000 ordinary shares of 2.5 pence each in the Company ("Ordinary Shares") at a price of 145.0 pence per Ordinary Share on 5 October 2022."

And she or another family member may have bought in the subsequent rise to 160p-ish.

ATB

extrader
16/10/2023
17:55
i like the opening statement above

"CLI still looking good value, NAV up 10% in past 6 months to 603p"

now trading at 65% below NAV!! yielding 7.8% close to a pound now albeit on thin trading.

There finance costs are going up and that will tip them over into an uncovered divi is my forecast maybe by FY24 results on an annual run rate. Positively though they have been able to get immediate loan portfolios refinanced and about half of their 2024 refis are secured albeit at close to 6% in UK 3.5% in Euros so remainder likely to be a little higher given peak rates were post June 23. There peak refi is 2025 and they pushing for sales to reduce the amount currently but looks slow progress. Its annoying they never publish a complete loan schedule as all are in the individual SPVs.

Not in here but reckon they have more hope than RGL and always possibility family will just take it private.

nickrl
11/10/2023
11:30
Would be good to hear confirmation that sale of Westminster Tower has now completed.
shieldbug
06/10/2023
22:05
@itstheoxman it is bizarre you have to wonder who the seller is here
nickrl
06/10/2023
17:01
How can this be 110p. Bonkers but there you go.
its the oxman
02/10/2023
18:37
All time low today although trading was thin. Divi here is well covered at the cash level and they can easily absorb the increased loan costs where refis are required in the SPVs currently without threatening divi cover. Family hoovered up several percent this year already so perhaps they will just slowly take the company over by default!
nickrl
01/10/2023
09:10
As I said back in June in 695 above:

"I suppose the problem is what are the true valuations of large office tower blocks. Certainly not many buyers around for those!

Still, you would have thought a 60% NAV discount would allow for most circumstances."

Since then CLI have slumped another 10%. Like RGL, a total credibility problem being an Office specialist.

skyship
28/9/2023
22:43
i don't see any risk of that shield. risk is very well managed at CLS, with dozens of SPVs and non recourse debt.

they seem to have a long term approach here, stemming from the support of the large shareholder no doubt.

m_kerr
25/9/2023
10:43
I do hope that the main shareholder removes risk of the board panicking. Board's panicking when the share price is like this is a major consideration. Shareholder's are renowned for panicking which creates opportunity for other shareholders - boards panicking can be hell for long shareholders.
shieldbug
18/9/2023
19:31
Specto - good call, i said the same and RGL is down approx 30% since your post.

there's some positives with CLS that i like. the main shareholder is clearly thinking the share price undervalues the assets. in the midst of all this, they secured a very significant 30 year index linked german government lease. €38m purchase price plus €20m capex, but will hopefully lead to a significant uplift.

£180m assets are held for sale in the balance sheet. roughly £50m UK, £10m france, £120m germany. already £39m under offer or under contract on top of the £49m achieved above book in the first half.

m_kerr
04/9/2023
17:58
nickrl, maybe every return to the office company statement prompts them to buy another chunk

Where would you put a bid price is they decided to take private ?

hindsight
04/9/2023
16:55
and another 2m to the family which means they've now breached the 55% threshold yet the share price continues to drift downwards
nickrl
23/8/2023
22:04
Not quite a cut and paste but another 2m picked up by the family today. Seems surprising that even with these chunky buys the share price continues to drift down.
nickrl
18/8/2023
18:00
Family in the mkt again for 2m top up adding another 1% to take them to 54%. If they carry this on they will own the whole company soon!!
nickrl
09/8/2023
19:20
Ha no, I'd flip those two %'s. RGL's LTV is heading towards difficulty IMO.

REITs are a tough call atm - ie staying patient & largely staying out, vs superficially attractive valuations. IMO rates are going nowhere (eg above 5% for whole of next year) & that's got to cause the slowdown, & won't help REITs. Then the double whammy of continually expensive debt, falling valuations based on recession/rates/risk-free, & recession itself causing CVA/voids/empty rates/long rent-frees.

So hit from both sides, whereas so far it's mainly just been from the rates side (& few actually having to refinance yet).

But I need to sit on my hands sometimes - it's a struggle to say CLI's expensive until the above happens.

spectoacc
09/8/2023
17:23
@shieldbug/specto some pretty savage downgrade on the UK portfolio with valuers taking axe to properties close to lease expiry with this comment "Biggest valuation drops on largest assets as leases near expiry" sounds like vacancy rate going up further. Have spent c50m on two high spec offices which are supposed to be in demand according to other propcos but remain unlet currently. They've done well shifting assets so far but with LTV climbing must desire more disposals to get LTV down. The one thing in favour is that it covers the divi at the cash level although the margin is eroding and with finance costs only going one way can't see divi going any higher for sometime. Not sure they warrant the 50%+ discount to NAV compared to RGLs 30%.
nickrl
Chat Pages: 43  42  41  40  39  38  37  36  35  34  33  32  Older

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