Delek Glbl Share Discussion Threads

[peter peters] 27/3/2008 12:07

Absurdly cheap.

Almost too absurd to buy, if you know what I mean.

[nickcduk] 27/3/2008 11:21

Does seem to be an overhang in the stock which is depressing the share price. I don't think its cleared yet because a 260k buy order was taken off the books in a single hit. It was around these levels that a couple of million shares were traded a few weeks ago. Wouldn't be surprised if it was the same seller. A bit confused by talk today about moving onto a full listing. Parent company has been mopping up stock and reducing the free float even further. They might even buy a few more around current levels now that the company is no longer in a closed period. If they do then liquidity in the shares will reduce further. Best thing for them to do is to buy aggressively any loose stock and then make an offer to the rest of the shareholders. They could probably get away with a bid of around 130p. They could then bring the company back to the market in a couple of years when market conditions will be a lot better. In the meantime I am happy to lap up the dividends.

[nickcduk] 27/3/2008 09:16

Cracking set of results. Underlying strength of the portfolio is there for all to see. Car Park values rose 10% in the final quarter of last year. Only cloud on the horizon is the Jelmoli litigation. Even if it has to end up paying out DGRE itself will only be liable for a third of any settlement. In the meantime they are going to re-finance the Bell tower loan at a much better rate than before. That will lead to increase in underlying profitability and hopefully increased dividends. Currently yielding 14.1%.

[kenny] 08/3/2008 11:33

Just though I would try to start a discussion on DGRE as this seems to be undervalued in the extreme - unless I am missing something (which is entirely possible!).

Anyway, I have bought a good amount for my pension and also personally for the dividend yield - projected at 13.3% at Friday's closing price of 82.5p.

All views - positive and negative - are welcome.