Daejan Share Discussion Threads

[llwyd] 17/6/2011 18:51

That 4741 trade at the end must have been a sell, doesn't seem to be any other reason.

[the other kevin] 17/6/2011 18:24

What caused today's sudden late price collapse?

[damanko] 02/6/2011 23:23

mw - good spot, and these days the easiest way to find this stuff out.

Seems, as you suggested, they do have some exposure, albeit small, in terms of their overall portfolio/rental income. As they own the properties on a sale and leaseback basis, the problem probably lies more with the (troubled) tenant than with the landlord.

[mw8156] 02/6/2011 23:12

No firm info but try Googling daejan southern cross...

[damanko] 02/6/2011 09:08

None that I'm aware of, not their area of business / expertise - is it? Unless of course you have some info to the contrary?

[mw8156] 31/5/2011 22:15

How much exposure to Southern Cross nursing homes, I wonder.

[damanko] 21/2/2011 07:54

Agree with positive comments on this thread, quiet and seldom visited though it is. An acquaintance who deals in London Real estate recently had a series of meetings with representatives of Daejan (ie the Freshwater family), and was very impressed regarding current and future projects. In the UK and Stateside. He feels they have cherry picked significant assets at the lower end of the price scale.

That's enough for me, this acquaintance has been in the property sector for many years, and isn't an excitable sort. Popped this mob into a monthly SIPP, a year or two at this depressed price, with the tax rebate - should look pretty good in time to come.

London residential property (in particular) is a fairly unique market, the monthly mortgage & price tables don't really apply the way they do with the rest of the UK.

Also when the market turns in America, it may well happen quickly.

[topvest] 27/11/2010 21:20

Costs are high because of the high residential element to their portfolio. I'm looking to add more in the £20-23 range. A very safe home for your money in my view on a 5 year view.

[dnfa1975] 27/11/2010 19:54

i agree can see a lot of pain in the sector and dowards pressure on rents for years to come

£18 remains an entry point for me

[rohkap] 27/11/2010 17:08

Appreciate that these guys have a solid long term track record, but I think the net rental yield is too low to make this stock a firm buy. Propery costs take a huge chunk out of rentals taking net rental yield down to an approx 4% from 10% gross. No surprise therefore stock trades at significant discount to NAV as it results in a higher (although still not massively appealing) net rental yield. As comments above have suggested, DJAN is probably an inefficently run organisation and to some extent high cost % might be due to residential exposure be but no activist shareholder will ever be able to shake things up (as things stand) so why should the shares trade significantly higher?

[tamilyrn] 11/11/2010 07:45

DJAN is just a different type of company and one I like a lot. This is an investors stock not a traders stock.

Great defensive buy at these prices.

[topvest] 08/7/2010 21:38

DJAN results were very SOLID..As ever!!

[masurenguy] 08/7/2010 08:35

SKYSHIP - 15 May'10 - 109: Ditch DJAN & BUY MCKS ahead of the Prelims & NAV update in c3wks time. Will post again after the figs which will give MCKS an overdue rerating.

Hmmmm.......the MCKS share price seems to have dropped by around 10% since then while DJAN has shown a very modest increase of 4%.

[bisiboy] 18/5/2010 13:45

mcks are good value i agree

[topvest] 15/5/2010 14:41

There is no rip-off at all. We are lucky to be able to ride on their coat tails; if you look at the long term returns they are very impressive indeed. Dividend yield is also acceptable.

[skyship] 15/5/2010 13:27

All you are doing is perpetuating the family rip-off of minority shareholders. Ditch DJAN & BUY MCKS ahead of the Prelims & NAV update in c3wks time. Will post again after the figs which will give MCKS an overdue rerating.

[bisiboy] 15/5/2010 11:17

this is a great company to buy hold and forget about not one for trading.

[salpara111] 12/5/2010 16:18

Have to say that I have had a look at these a few times but am uneasy due the fact that there is so little liquidity in the stock.
It is an odd situation where a stock is so heavily controlled by one family and does lead to conflict of interest in that the fiduciary duties of the directors of any public company is to act in the interests of the shareholders but when 75% of the shareholders have a potentially different view to the average punter/minority shareholder, then you can have problems.

[mali7] 24/3/2010 09:48

Cheap to buy in today at £23.98, but why does ADVFN list my BUY as SELL, seems to happen often now. Anyway good luck all.

[skyship] 11/3/2010 15:51

Actually I think you'll find it is just over 80%!! (family-owned that is - not NAV discount)

[topvest] 10/3/2010 22:06

They are quite happy with the status quo, as they have been for years. The vast majority of shareholders bought years ago and just hold. For years, people have said they should do this or do that. It never comes to anything, but the company carrying on its steady path. I have respect for the Board - they just carry on doing what they do best and they like their record and quote. To be honest, not many have done better!

[bolador] 10/3/2010 16:32

Yes, why would the company not want to do some share buying of it's own stock ?
Great discount for them and plenty of cash in the treasury to do it with.
Will have to write to Mr Jenner the company secretary and see what he thinks.

[scburbs] 10/3/2010 13:16

A good old fashioned share buyback or tender offer (in which the family also sells) could do wonders for the share price. CCT (non-property) is a good example of what it can do.

Who is good at scaremongering? Just need to convince some key people that the 18% rate is about to go up substantially and they might be a bit more interested (unless the holdings are already offshore somehow).

[bolador] 10/3/2010 11:34

Isn't somewhere around 73% including controlled charities ?

Does the company really deserve a quote ?