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DLN Derwent London Plc

2,168.00
20.00 (0.93%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Derwent London Plc LSE:DLN London Ordinary Share GB0002652740 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  20.00 0.93% 2,168.00 2,166.00 2,170.00 2,180.00 2,128.00 2,140.00 168,578 16:35:14
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 190.9M -476.4M -4.2426 -5.11 2.44B
Derwent London Plc is listed in the Real Estate Investment Trust sector of the London Stock Exchange with ticker DLN. The last closing price for Derwent London was 2,148p. Over the last year, Derwent London shares have traded in a share price range of 1,766.00p to 2,478.00p.

Derwent London currently has 112,290,929 shares in issue. The market capitalisation of Derwent London is £2.44 billion. Derwent London has a price to earnings ratio (PE ratio) of -5.11.

Derwent London Share Discussion Threads

Showing 251 to 275 of 450 messages
Chat Pages: 18  17  16  15  14  13  12  11  10  9  8  7  Older
DateSubjectAuthorDiscuss
13/8/2020
13:19
EI thx for heads up on CLS will revaluate again. I also FD topped up 50k shares recently.
nickrl
13/8/2020
11:31
Recent CLS results read well, perhaps because of the controlling families stake
it gets little attention. I don't hold atm.

essentialinvestor
13/8/2020
09:55
Morning EI , yep that's where I've put it :-)


DLN updated:

13th aug Baclays underweight tp 2600p
12th aug Numis buy tp 3800p
12th aug UBS buy tp 4425p
12th aug Deutsche hold tp 3250p
12th aug Liberum hold tp 3300p
11th aug Peel Hunt hold tp 3100p


11th aug ++++ interims ++++

philanderer
13/8/2020
07:41
Hi Phil, just be mindful that the SHB share price is like a pinball atm,
with rapid quick fire moves in either direction. One to keep on a watchlist
at least.

essentialinvestor
12/8/2020
23:51
EI, many thanks for the information. SHB could be interesting.
philanderer
12/8/2020
16:32
Found a comment from Peel Hunt on Great Portland and they
are/were looking for an approx 8% fall in 2021 NAV - comment made at their last
results update.

Given DLN operate in the same area geographically and Derwent's considerably lower
resturant/retail exposure, a NAV fall of around 4/5% for 2021, may be.

If COVID cases accelerate again and a further London lockdown happens.
that may be too optimistic.

essentialinvestor
12/8/2020
15:57
On fundamentals GPOR has significantly less resturant/retail exposure @ circa 30%.
and also some of the lowest gearing in the sector. Very bullish on SHB longer term,
the big challenge is where the share price low point will be for Shaftesbury and could not even hazard a guess on that.

GPOR is closer to DLN in terms of fundamentals at least. DLN is around 88% office with similar
gearing.

essentialinvestor
12/8/2020
15:47
GPOR and SHB look very similar charts YTD
philanderer
12/8/2020
15:44
Thanks Phil.
essentialinvestor
12/8/2020
15:44
EI, I've seen nothing else.
philanderer
12/8/2020
15:34
Interested to get some idea of where brokers see NAV in 12 months time,

can't find any comment and don't have access to the professional full broker notes.

Appreciate these are subject to change, however gives some idea of a ballpark type of estimate.

essentialinvestor
12/8/2020
14:46
Philander after that broker note its definitely a sell!! Results are a lookback and I would have thought by now brokers would realise the world is changing. Im not in the doomsday club but the fact they've got 24% of leases on break or renewal next year is red flag in this market imo. Yes they've got good properties but your dealing with businesses who will need to rightsize once they have to stump up for the full payroll so they will hold the whip hand. As i say they aren't going under anytime soon but this isn't a premium propco that justifies the paltry yield.
nickrl
12/8/2020
12:40
Phil, do you have any broker NAV estimate for 12 months out?, thanks.
essentialinvestor
12/8/2020
11:54
Afternoon EI, Numis poitive..

Numis: Derwent London is undervalued


Property development business Derwent London (DLN) is trading at too wide a discount as investors price in too much Covid-19 concern.

Analyst Robert Duncan retained his ‘buy’ recommendation and target price of £38 on the shares, which fell 40p to £29.24 yesterday despite a ‘confident set of results’, with the net asset value (NAV) of the portfolio is 2% ahead of forecasts.

‘Derwent London is well positioned to continue adding value for shareholders through its largely de-risked current projects,’ he said.

‘We expect small upgrades to consensus NAV forecasts, and believe that the current 24% discount to trailing NAV is too wide, with sentiment overpricing risk as the full impact of Covid-19 on the office occupational market emerges.’

philanderer
12/8/2020
11:46
Phil, I thought the statement was reasonable given the backdrop,
but would defer to Nick's view on this.

Todays UK GDP numbers paint a vulgar picture.

essentialinvestor
12/8/2020
11:39
A few having second thoughts today ;-)
philanderer
11/8/2020
23:47
VIDEO

A first look at 80 Charlotte Street

philanderer
11/8/2020
16:05
Article in today's FT giving a view on the London office market,
in a nutshell- the impact of COVID and companies deciding they need less
space has yet to hit the sector.

It may already be reflected (to an extent) in share prices imv, just not
in fundamentals. The sector still vulnerable to setbacks on risk off sentiment imv.

And there remains the big unknown - when will HMG call a hault to the moritorium?.

essentialinvestor
11/8/2020
13:04
nick, excellent summary.

I'm happy to hold giving my portfolio some exposure to the sector.

philanderer
11/8/2020
11:54
Hi Nick, thanks for the view. Not holding atm.
essentialinvestor
11/8/2020
11:46
Not going bust but can't see how its get any better from here. There being reasonable landlords to tenants with reduction in service charge income and rent free periods but its all coming at a cost. Also good to see rental collection transparency and whilst june qtr not so good its mainly a retail issue so small impact. Impact of all these agreements is carrying through into trade receivables up £15m and although small beer when your recognising income for 2021 will this end up being impaired though. Net impact is dividend wasn't covered but as rent kicks in at Charlotte St should substantially close the gap. Adverse though is 24% of income is up for breaks/expires in 2021 and in current environment has to be seen as high risk - 24% of H1 breaks/expires now vacant already as an indicator.

With paltry yield needs to be below 2500 for me.

nickrl
11/8/2020
10:45
Both John Burns & Simon Silver retired/retiring from Derwent London. They were the pioneers and drive behind the Company! Who knows how this will play out now, certainly uncertain times ahead.
looneytune
11/8/2020
10:16
Hi Phil, what's you make of these results?.
essentialinvestor
11/8/2020
10:05
The property development company increased its interim dividend, despite reporting a sharp swing to a loss on a revaluation deficit, while announcing the planned departure of its co-founder Simon Silver, an executive director and co-founder of the company. His retirement is effective February 2021, but he will support Derwent as a consultant until the end of 2022.

Alliance News

philanderer
09/8/2020
23:25
One day, the virus will subside. It could be eradicated. But even then, life will not simply return to the way it was before Covid-19. Spurred on by the coronavirus crisis, architects have been rethinking the buildings we inhabit.
philanderer
Chat Pages: 18  17  16  15  14  13  12  11  10  9  8  7  Older

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