ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

DTR Dawnay Day

0.087
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Dawnay Day LSE:DTR London Ordinary Share GB00B0RFL714 ORD EUR0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.087 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Dawnay, Day Treveria Share Discussion Threads

Showing 576 to 598 of 650 messages
Chat Pages: 26  25  24  23  22  21  20  19  18  17  16  15  Older
DateSubjectAuthorDiscuss
26/11/2008
14:20
sector news
andrbea
26/11/2008
09:01
Expect news here shortly, the fall is overdone IMO.

I'm hoping for a capital injection and some property sales will be forthcoming.

crawford
25/11/2008
22:37
I don't think the situation is as bad as the share price is showing, apparently there is a forced seller.
crawford
25/11/2008
22:15
Podcast here:
crawford
25/11/2008
21:35
It's being priced as bust, who was the seller?
crawford
25/11/2008
21:10
Looks an interesting double or bust at this price. NAV is very tempting but company obviously has problems - I for one dont have sufficient insight or the ability to judge this company correctly. Even if I spent hours trawling through reports I suspect its whats not there that counts the most.
If other property companies start running though this stock could easily double.

borchardt
29/10/2008
16:48
Libor rate coming down daily, let's hope it continues.
crawford
10/10/2008
11:50
Hi all and Cerrito, I am having difficulties coming to grips with the numbers:

the interim results rns says:

'Total cash position of EUR152 million as at 30 June 2008'
profit about 17m euros in the half.

My question is - is DTR trading at less than cash in the bank?

ahh, may have found the issue:

'As at 30 June 2008, the Group's total borrowings amounted to EUR1,820 million, all of
which are secured on its properties, compared to
EUR1,789 million as at 31 December 2007. '

all comments appreciated.

timanglin
07/10/2008
21:52
just listened to the conference call and accompanying slides
Good to see that in addition to the notarized sales they have Heads of Terms for a further E51.5m of sales at a slight premium to 6 08 book value.
also FWIW which is not very much as it is a volatile figure the 6 08 figure of fixed rates,swaps and caps was 9.9c per share ie the current share price and this figure was not included in the adjusted NAV figure of 91.2c..
Not completely comfortable with their comment that getting to know their portfolio well at a time when their portfolio management ownership is in some flux and also that the cash flow from operating activities in the first half was only E12m odd.
I guess we are on hold till we know the terms of the new equity issue.

cerrito
07/10/2008
20:54
Cerrito,
I've noticed that, they are aggressively buying.

crawford
07/10/2008
20:24
Interesting to see the growth in Montpelier's holdings.
On September 10 bought more to take them to 30.9m shares or 5.1%; on October 1 they declared they had 54.3m or 9.01% and then went up to 60.8m shares or 10.08%.

cerrito
02/10/2008
20:51
Paul,
thanks for an honest post, I agree, high risk but the NAV surely makes this worth holding.

crawford
02/10/2008
20:47
Hi,

Crawford - I'm not really following bulletin boards at the moment (doesn't help, just clouds my judgment with excessive negativity, at a time that could be great to be buying), but stumbled across your post.

I sold some of my DTR on the way down, but didn't think the recent results were bad enough to justify the collapse in share price. So I averaged down heavily this week at an average of about 9.6c.

At one tenth of NTAV it's gotta be worth a punt. Especially as the funding issues with Covenants don't appear to spell immediate collapse. Also I like the fact that the portfolio still has a rental yield of just under 7% from memory, and that these are in Germany - the big Western economy that DIDN'T have a property boom, didn't have a consumer boom, and is still export-driven.
So very very sound fundamentals to the German economy.

I hope that the worst of the current credit crisis may be resolved before DTR need to refinance their loans. If so, we could 3 or 4 bag from the current price. That would be nice. But equally got to treat it as high risk now, and could be a 100% loss.

Regards, Paul.

paulypilot
02/10/2008
13:27
nickcduk

Sorry to learn of your big losses.

Whilst I agree that positive posts can lead others to invest, fact is that anyone buying anything should do their own research before doing so. I did of course before buying DTR and others in the sector, and at the time was confident all would prove sound investments. Wrong.

I thought I knew better than the market re the European Trusts/Investment Companies, in that as some had not experienced a commercial property boom there was no reason for a property bust either unlike in the UK. It's obvious with hindsight that I took too little notice of other negatives that we now all know about. As so often the market was right.

I agree with you - though saying that should come with a big health warning after recent events! - that DTR is unlikely to go bust. The same applies with KEIF. If only we had been wise before the event instead of after and only started buying now. Surely in time the share prices today will look as crazily low as many did at the bottom of the 1974 bear market. Trouble is I'm not confident enough yet to buy more DTR or KEIF, and will probably end up averaging down at higher prices when confidence returns.

Please don't let this experience put you off posting. You obviously know what you are talking about and I've found your posts a very useful starting point.

kenmitch
01/10/2008
21:01
paulypilot,
are you still in these and what are your views?

Cheers

crawford
01/10/2008
20:55
Ken - I agree my calls have been disastrous on DTR and DDE. Down close to 50k euros so far so it is obviously painful. Has been a complete hatred across the European property sector. KEIF, ALPH and IERE are all examples of huge selling recently.

Its strange how sentiment towards UK majors has been quite strong of late and the discounts to NAV much narrower than on their European peers.

Had a listen to CAL's interim Q and A. Their German property operation had LTV at end December of around 70%. Not too dissimilar to DTR at that point. They only announced their deal with Apollo 6 weeks ago. I would imagine that during this period DTR were discussing a similar deal for which talks are still ongoing. Obviously market conditions have been grim of late which makes the prospect of a successful conclusion more doubtful than a couple of months ago.

I note that Cazenove were selling out yesterday as were Ratio. Cazenove are advising the company on the review so it doesn't inspire confidence. Still huge swathe of sellers yet to fully unload so share price could come under further pressure. I think the shares are now almost option or warrant money. The company won't be going bust anytime soon and if they come through a couple of sticky years the share price will respond accordingly.

Apologies if anyone has lost money as a result of my posts on DTR. I haven't tried to ramp the stock and mislead anyone. Fingers crossed it will all come good in the end.

nickcduk
01/10/2008
15:39
kenmitch - 1 Oct'08 - 16:20 - 231 of 231

I'm in the same boat.

The results say that they rejected the idea of selling the whole company - our NAV is around 70p, why reject selling? Surely it would be better than sitting down here at this price.

I don't understand why they would do that if they didn't think they could get an equity injection.

crawford
01/10/2008
15:20
I've done that. The share price suggests that they won't get that equity injection. I hope your optimism proves justified. Even if the shares were to double, they would still be well down on the 30 cents I paid only a few weeks ago.

I'll be very pleased if proved wrong by being so pessimistic now, but unfortunately doubt that I will be. The only reason I haven't sold is because I've so little left I might as well ride it out and see what happens.

Fact is though that your very confident posts about DTR and Develica in the recent past have not stood the test of time or results. As so often the market knows.

I'm not scoring points here - my equally enthusiastic posts about KEIF on Mike Walters bb have proved just as wide of the mark. So far news from KEIF does not justify the further falls in the share price. But I now fear that here too the market knows and before long we will be finding out why their shares now languish under 30p.I'm keeping fingers very crossed that unlike DTR, they will not totally cancel the dividend,and might even maintain it, in which case the 20% dividend will do me fine while waiting for the share price to recover. Again I hope the market is wrong about KEIF but the share price is suggesting otherwise. Best to concede errors sometimes rather than clutching at straws?

kenmitch
01/10/2008
09:37
Ken - The company still has a large cash cushion. They have about 13cents of cash at the parent company level. If they get a cash injection in the business they will be able to free up funds to return to shareholders. They could easily return the entire 80m or so cash they are holding at the parent company level. If they did a share buyback it would be massively accretive around current levels for both NAV and eps. I don't share your pessimism about a sharp recovery not being on the cards. If they get an equity injection like CAL did then I would expect the shares to double in pretty quick order.

Go and have a read through of CAL's disposal of half of their German venture a couple of months ago. That is the type of blueprint DTR will be looking at.

nickcduk
01/10/2008
08:48
Thanks for the mostly very helpful and informed comments on these so disappointing results. I clearly got the wrong impression from somewhere about a healthy cash position!

Reluctant to sell at this price. Yet guess it will be ages before any meaningful recovery in the share price.

The idea of a huge share buyback suggested here is ludicrous imo. Aside from the fact that they clearly can't afford one, it would be a total waste of money.

It really is time that those still supporting share buybacks did a bit of research instead of relying on outdated information and opinions.

e.g buying shares worth 90 cents for 10 cents ought to be a no brainer. But it isn't as I've already explained on the Dolphin Capital bb. There is also proper research -eg from Morgan Stanley - showing how time and time again the shares in Companies buying back their shares have gone on to do much worse than those that didn't.

So whatever you want DTR to do to help get their share price up please don't pressure them in to doing something that is a complete waste of money.

kenmitch
01/10/2008
08:30
Big stake building going on I see.
crawford
30/9/2008
09:25
I found some broker comment so have posted it below:

Tuesday September 30, 10:02 AM
Broker snap: KBC Peel Hunt sees challenges for Dawnay Day Treveria

LONDON (ShareCast) - KBC Peel Hunt has lowered its recommendation on Dawnay, Day Treveria (DDT) to 'reduce' from 'hold' after the German property group's interim results.

The broker noted significant difficulties at DDT, including the fact that it had breached its banking covenants.

"The multitude of problems at Treveria presents a huge challenge for management, particularly with regard to the restructuring of significant debt," KBC Peel said.

However it also saw some positives for DDT, including the entry of the retailers TK Maxx and Primark into the German market, which would help reduce DDT's vacancy rate.

"We remain positive on German property compared with the UK but await the results of the current strategic review before reaching a full conclusion on the Company's future," the broker said.

kenny
30/9/2008
05:59
Cheers for that.
crawford
Chat Pages: 26  25  24  23  22  21  20  19  18  17  16  15  Older

Your Recent History

Delayed Upgrade Clock