Derwent London Share Discussion Threads

[philanderer] 17/9/2020 18:40

'Nearly two-thirds' of adults back in the workplace, says ONS https://www.bbc.co.uk/news/business-54194958

[essentialinvestor] 16/9/2020 11:26

Closed my latest trades off @ 26.60.

[essentialinvestor] 14/9/2020 12:25

Nick, good call here, you mentioned around £25.

[essentialinvestor] 10/9/2020 17:49

Had 2 lots tody.

[philanderer] 10/9/2020 17:44

'No rise in workers in UK city centres despite back-to-office plea' Worker footfall was at 17% of pre-lockdown levels at end of August, unchanged from June HTTPS://www.theguardian.com/business/2020/sep/10/no-rise-in-workers-in-uk-city-centres-despite-back-to-office-plea

[essentialinvestor] 10/9/2020 13:35

Hi Phil, just had a very small amount. The share price gave ample advance warning here as the previous tight range had held for a number of months. Nick mentioned circa £25 as a potential buy area and that looks an interesting buy point.

[philanderer] 10/9/2020 12:08

EI, good call on holding off......looking like a dead cat bounce yesterday 🙄

[mtsblogs] 10/9/2020 01:05

Is it me or is remuneration crazy? Total staff costs - £27.8m with directors receiving £23.1m, compared with Distribution to Shareholders at £75.6m. CEO max salary is £3.4m - WTF???

[essentialinvestor] 09/9/2020 23:18

Hi Phil, was tempted today but held off.

[philanderer] 09/9/2020 17:55

London tops global destination for investment in offices so far in 2020 despite covid meltdown HTTPS://uk.finance.yahoo.com/news/london-tops-global-destination-investment-145533325.html Goldman Sachs tells bankers it's time to come back to the office on a rota HTTPS://uk.finance.yahoo.com/news/goldman-sachs-tells-bankers-time-143937166.html

[philanderer] 09/9/2020 17:21

Good bounce off 2600p this afternoon... 423,000 shares traded today.

[philanderer] 09/9/2020 13:32

Lord Sugar sees his office portfolio ‘suffering’ as staff stay at home Lord Alan Sugar has said his central London property investments are "suffering" due to office workers staying home and City-based companies finding out they "don't need" pre-pandemic size premises. The billionaire is a long-term investor in prime City property through real estate venture Amsprop. The vehicle was behind the redevelopment of The Crosspoint near Liverpool Street Station, and its portfolio includes The Lever Building near Barbican. The Apprentice star told the Standard: "As a landlord, we are suffering with our tenants struggling to justify the premises that they occupy. HTTPS://www.standard.co.uk/business/lord-sugar-offices-property-covid-a4543551.html

[essentialinvestor] 08/9/2020 12:05

Https://www.theguardian.com/commentisfree/2020/sep/06/commuter-english-archetype-coronavirus

[philanderer] 08/9/2020 09:58

updated.. 7th sept Panmure hold tp 2886p 3rd sept Morgan Stanley overweight tp 3200p 1st sept Goldmans buy tp 3693p 28th aug Berenberg buy tp 3500p 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] 08/9/2020 09:56

Morning EI, yes Panmure downbeat.. In sellside, Panmure Gordon’s down to “hold” on Derwent London: The period post the EU referendum was one of uncertainty for the London office market with values and rents moving sideways. As a result, the London office REITs traded at a 20-30% discount to NAV, the lack of visibility or any signs of growth putting investors off. However, at the end of 2019 post the general election it felt like there was a clear pathway to growth and the stocks (including Derwent) moved to a premium to NAV in anticipation. This optimism has come to a grinding halt post COVID-19 and whilst we highlighted in our May note concerns about the impact of a wider economic fall-out on the London office market, it appears four months later that a structural change in the way we work might have a bigger impact over the medium term. The net result, whatever the outcome, is a return to uncertainty and a discount to NAV. Therefore, whilst we continue to believe Derwent London looks attractive trading on a 29% discount to NAV, until there is greater clarity of outlook, we see the shares moving sideways and downgrade from Buy to Hold adjusting our target price to 2886p (20% discount to current+1 NAV) from 3556p. https://ftalphaville.ft.com/2020/09/07/1599465957000/Markets-Now---Monday-7th-September/

[essentialinvestor] 07/9/2020 18:04

Comment in today's FT today, nothing that has not already been discussed here.

[essentialinvestor] 04/9/2020 19:48

Yes Phil, I'm staying clear for now.

[philanderer] 04/9/2020 19:37

Yes, thanks EI. I take it that it's the Morgan Stanley review you're referring to ?

[essentialinvestor] 04/9/2020 11:39

Phil, you've probably seen yesterday's FT Markets Now comment on commercial office, If not, it's worth a read.

[philanderer] 03/9/2020 10:10

MORGAN STANLEY CUTS DERWENT LONDON TARGET TO 3200 (3400) PENCE - 'OVERWEIGHT'

[philanderer] 01/9/2020 10:37

GOLDMAN RAISES DERWENT LONDON PRICE TARGET TO 3693 (3673) PENCE - 'BUY'

[philanderer] 31/8/2020 00:01

Capita to close over a third of offices permanently https://www.bbc.co.uk/news/business-53968213

[philanderer] 30/8/2020 09:25

BP to sell London HQ amid office shake-up Oil giant to leave historic home as work patterns shift HTTPS://www.thetimes.co.uk/article/bp-to-sell-london-hq-amid-office-shake-up-85n3p0wbw

[philanderer] 28/8/2020 12:42

Some Charlotte Street photos... HTTPS://www.archdaily.com/946170/asta-house-make-architects

[philanderer] 28/8/2020 10:30

Morning EI. Well you wouldn't get me in one ;-) BERENBERG CUTS DERWENT LONDON PRICE TARGET TO 3,500 (3,600) PENCE - 'BUY'