Ct Property Share Discussion Threads

[badtime] 26/7/2022 17:33

RNS re VIP released

[spectoacc] 26/7/2022 15:11

996k at 77p, tho isn't clear when that trade was actually done.

[spectoacc] 25/7/2022 09:03

Acting as if the overhang is over, but I.ve not seen the trades anywhere.

[nickrl] 24/7/2022 16:50

Specto thanks for clarifying at least mkt is absorbing at this price. Presumably the broker will sound out other big holders for a direct deal.

[spectoacc] 24/7/2022 14:53

@nickrl - yes. So the seller (VIP) tell their broker they want to sell, but to do it at the best price they can and not all at once. The broker/MM then soaks up loads of buys (ie sells to buyers), before taking how ever many shares they need from VIP to square their books.

There's been 2x450k's last week so another RNS can't be far away.

The CTPT price rise is good, but will it stick.. Any of us in it believe it's worth a lot more than that.

[skyship] 23/7/2022 11:42

High volume again, possibly VIP releasing more; yet the share price had a good day on Friday - closing up at 80p Bid.

[nickrl] 22/7/2022 14:30

Specto curious about this - are all the buys being reported as individual transactions and then VIP give the MM a bundle of shares in exchange which they then report?

[spectoacc] 22/7/2022 12:55

Another 450k gone through just now at 77p, so the theory of the floor at 78p is already disproved. Likely that trade has taken the MMs 48hrs to fill.

c.11m to go.

[spectoacc] 19/7/2022 20:29

Suspect VIP have set a floor on their losses at around 78p, that the MMs are filling it (all the smaller buys) & then putting block VIP trade through. Some days not enough volume - no VIP sells - some days like today they can offload s chunk.

[nickrl] 19/7/2022 17:11

Someones taking them as they are largely off market trades so at least its not rattling the share price too much.

[spectoacc] 19/7/2022 16:02

Fwiw, VIP had c.12m shares remaining in CTPT as of yesterday. So perhaps down to c.11.5m now. Should RNS every 2.4m sold (being very close to a 1% threshold yesterday).

They may of course have shifted more than just the 450k trade today.

Surely a raging buy when they finally finish, albeit there'll be a huge overhang of profit-takers on the way back up.

[spectoacc] 19/7/2022 15:24

450k gone through in one trade at 78.4p - not getting the impression anyone's picking up enough to be notifiable (tho may cross a threshold, but not many already notifiable to pick from).

[spectoacc] 19/7/2022 09:13

Again - CTPT don't have the cash for buy backs IMO.

VIP - they're inept, they should have put their cash on deposit if they knew they might want to buy back their own shares with it, not invest it into illiquid BREI, then sell down well below what they paid.

Suspect it's the usual case (with VIP) of getting improved management incentives with buying back their own shares, which counteracts (for them) the loss they're making at CTPT. But even that doesn't counteract the illiquid comment.

OPM.

[horseyphil] 19/7/2022 09:11

If anyone manages to get an email address for Matthew Howard, could they please post it here? BREI always seemed to make it difficult to contact the manager or Chairman.

Yes, two great mysteries - what on earth is VIP up to, and why no buybacks? With MT arriving from BCPT,where buybacks have contributed to strong relative share price performance this year, let's hope the latter will change, and soon!

[spittingbarrel] 19/7/2022 09:09

With VIP continuing to sell the share price will probably be under the cosh for a while, but I think these are cheap so i've bought more this morning, averaging down, and will buy more if the price keeps falling.

[spectoacc] 19/7/2022 08:43

If they were to get it away - a rather large "if" - it'd have an interesting and large effect on the asset mix. Did they up their Industrials % limit for that purpose, not just because Industrials were outpacing everything else in NAV?

CTPT may be small, and that may have always put them off buy backs, but they're a nobrainer down here, if the cash became available. The other thing I'd really like to see is director/manager purchases.

[skyship] 19/7/2022 08:15

Specto - no, not yet under offer as far as I'm aware. We'll get an RNS when it is...

[spectoacc] 19/7/2022 07:30

Only the last 200k of that was done yesterday I reckon - the usual "crossing a threshold" .

Have no reason to doubt VIP will keep selling down, whilst seemingly using the proceeds to buy back their shares.

@Skyship - 14 Berkeley St, not aware it's under offer? Looks speculative at a 3.3% yield. Would have to go some to get it away before the muppets at VIP have finished in say 6-10 weeks time.

[skyship] 19/7/2022 07:23

So, there we have it. VIP have sold another 2m shares taking them to just below 5%.
Total plonkers...

[skyship] 19/7/2022 07:10

Very soon they'll have cash a plenty from the 14 Berkeley Street sale!

[spectoacc] 19/7/2022 06:51

Matthew Howard is in place already. They really should be buying back VIP's stake, but that does of course require cash to do so. Not aware they've prioritised acquisitions (unlike eg UKCM).

[alan pt] 18/7/2022 23:12

A different direction to downwards would be most welcome :)

[nickrl] 18/7/2022 22:44

Sky perhaps Lowe was using his charm on the board that he needed the cash to make acquisitions. Given chairman and one of the non execs are off as well one has to expect a different direction to emerge here in due course.

[skyship] 18/7/2022 21:17

nick - ah...thnx for that. So if buybacks good enough for BCPT, why not for CTPT?

I'm sure he will have to answer that. I for one will pose the question!