Share Name Share Symbol Market Type Share ISIN Share Description
Daejan Holdings LSE:DJAN London Ordinary Share GB0002502036 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  +40.00p +0.67% 5,980.00p 1,193 16:35:20
Bid Price Offer Price High Price Low Price Open Price
5,990.00p 6,020.00p 6,030.00p 5,920.00p 5,920.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 0.0 198.4 993.0 6.0 974.74

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Date Time Title Posts
23/5/201808:29Daejan - 3.5% yield and 50% property discount818
18/3/201507:28safe as houses190
13/6/200822:47SAFE AS HOUSES?!!35

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Daejan Daily Update: Daejan Holdings is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker DJAN. The last closing price for Daejan was 5,940p.
Daejan Holdings has a 4 week average price of 5,910p and a 12 week average price of 5,500p.
The 1 year high share price is 6,850p while the 1 year low share price is currently 5,500p.
There are currently 16,300,000 shares in issue and the average daily traded volume is 2,426 shares. The market capitalisation of Daejan Holdings is £974,740,000.
topvest: Its growing, as is the share price and NAV. Think on a 10-year timeframe and its fine. This is a share to hold and forget about!
trytotakeiteasy: retsius - Grainger gearing is ok.... have a look at interest cover... Grainger has seen strong rental growth in the last two years where as Daejan has been very poor..... Share price performance... looks like I have sold at the bottom.... oh well I am into hopefully better stocks...
trytotakeiteasy: Okish results... will take some unpicking... NAV up 1.6% to £103.28. At the current share price of £60 that translates into a 42% discount to NAV.... The increase I think would of been stronger except for an FX headwind... rental performance remains subdued with only a small increase. The group ramped up investment in new properties. Cashflow was strong and debt declined. Probably we can expect a similar result in the second half to take the NAV to say £105. Overall, a somewhat steady as she goes result. Daejan isn't going to shoot the lights out. But may generate slow NAV progress. I would like to see strong rental growth but this hasn't yet come through. Hopefully a few projects will complete before the end of this year. The results do undermine the argument of some on this board that Daejan's NAV would fall in this period due to UK real estate headwinds. Just looking and more share sales today....not sure the interim results will do much for us in share price terms....... What I personally don't understand is the disconnect between the rising NAV and largely unchanged rental income......can the company continue to be worth more while rental income sees little progress? The lack so rental income progress may reflect long-term rental contracts at fixed rates. We simply don't know. My overall thoughts - an ok but somewhat mediocre performance. Not sure it will change sentiment towards the company. The 42% discount may tempt some. I would like more detail on the outlook for rental growth. They haven't seen much progress here for a year and a half. But the new hotel should open at the end of this financial year. So for those who like a slow performer the shares continue to look ok. Where will we be in 5 years. Probably at least an NAV of say about £120....putting us on a 50% discount.....the NAV in 5 years 3% NAV growth a year....I think what investors want is rental growth as this generates profit growth to reinvest in the business and to pay higher dividends.....not sure why Daejan has seen so little progress on rental growth recently...
trytotakeiteasy: well we first hit this share price level in February 2015.... so two years and nine months ago.....the last reported NAV at February 2015 was £75 for September 2014....since then the NAV is up about 35%. The discount to NAV has increased from 20% to about 41% today. The only positive from the negative sentiment is that presumably the discount can't really increase much further!!! Sentiment for the other property companies in London is also pretty weak.... or at least the major ones.
retsius: TTTE Urban and Civic and Shaftesbury reported today with both positive results and increases in NAV.The discrepancy between share price and NAV is nothing compared to the value inheritant in Daejan.Also well diversified with the American property portfolio. Point taken on last comment,you must be an accountant! Don't quite understand the technicals,howeverI believe the average investor will be looking for the NAV with a sharp eye as it is this which has boosted the value of the company. Yes ,the rental figures are important and I will be looking closely at them tomorrow. R.
trytotakeiteasy: Yes that should be positive. However, as someone pointed out here a while ago that is only a small part of the shareholders equity. This is because the US portfolio is more highly leveraged than the UK portfolio. UK asset values remain the key driver. Daejan might see some marginal interim NAV growth but I doubt we will see anything significant. Residential portfolio might do ok. I am guessing that Daejan will surprise us on the upside as they usually seem to do better than expected. However, am not sure the share price will react!!!!
apollocreed1: retsius - UK Property prices aren't a function of supply and demand. They're mainly influenced by QE and ultra-low interest rates. That still makes me think prices will continue to rise because no matter how much the Bank of England talks about raising rates and reducing QE, they don't have the courage to really do so. Even if they perform a token gesture of 0.25%-0.5%, rates will always be behind inflation. Regarding QE, the BOE has been printing large amounts of money since 1971, so there's no reason to believe they'll ever stop that either. This is also my largest holding, but I have a few friends who work at Daejan that tell me it is a very efficient operation - so I trust the share price will recover.
retsius: Ttte It's a pity the Annual Report omits any reference to the share price. This should be alluded to , if nothing else it helps to identify with shareholders in the Company.They should say the price has been declining for six months but this is at odds with the co. Performance. Great results but the share price has been dire, but for no obvious reason. That is what is so galling. R.
trytotakeiteasy: Feels like a seller is continually at work here. Any buys are met by an equal number of sells. It could be a long-time, therefore, before we see any share price progress. i.e. until this seller has exited from Daejan. Just shows even if a company produces good results you don't necessarily see a share price follow-up. Looking at the annual report and the Aldgate hotel could finish this year. Temple Street in Birmingham was completed March 2017 and will add to the rent roll this year. However, we are now heading to a 40% discount to NAV although we could see the NAV decline this year.
trytotakeiteasy: two years ago in July 2015 the share price was at £65 and the last reported asset value per share was £81.84 - a 20.5% discount. Two year's later the share price is £64 and the last reported asset value per share was £101.61 - a 37% discount. Slightly frustrating!!!
Daejan share price data is direct from the London Stock Exchange
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