Ediston Property Investm... Share Discussion Threads

[hindsight] 18/7/2021 12:55

Heres the link nickrl, just need you to work out the the fair rent on the 286277 ft

[nickrl] 18/7/2021 11:20

I see BLND have bought West Thurrock Retail Pk off Nuveen for £82m at what yield isn't disclosed but Nuveen bought it off HMSO for £93m at 5.3% yield in 2016 so not that much loss given what NAVs have been showing across various propcos. Mind you as BLND suggest it has logistic potential maybe that helps close the gap.

[chucko1] 15/7/2021 10:39

"Interesting reaction to going XD today"

Yes and no. The floor to selling has been 67p regardless of the timing and size of dividends. Given that they are monthly and small, it seems Stadium are also happy to benefit from them (and do not consequently lower their price).

This is material in that if they are/were to take 6m selling the holding, that is approaching 2.5p to you and I being patient. For this reason, I have been happier to be buying more aggressively, as we benefit from what is close to a free put and significant income.

[flyer61] 15/7/2021 08:54

Interesting reaction to going XD today.

[hindsight] 15/7/2021 08:52

Thanks SpectoAcc, that explans it, regarding Stadium holding

[spectoacc] 15/7/2021 08:46

@theprovosts - per posts above, there's two separate Stadium holdings, in two subsidiaries. So you have to combine them.

A more pertinent question is why EPIC haven't RNS'd the current holding - my understanding is every 1% crossed requires an RNS, and Stadium have clearly informed the co, hence the website change.

67p seems to be as low as Stadium will sell, fwiw, & they're committed to an orderly market agreement.

Edit: Major shareholders as of 30th June, stating Stadium Group at 6.18%:
[...]
(Won't let me link, but Google the Ediston Property homepage, scroll down).

The last two Holdings RNS's, totalling 8.74% (& one of them was 12th April sale):

[theprovosts] 15/7/2021 08:41

What am I missing? Latest holding RNS:

Name: Stadium Retail (Holdings) Limited

Date on which the threshold was crossed or reached: 12th April 2021
Date on which issuer notified : 6th May 2021

Resulting situation on the date on which threshold was reached: 3.86%
Position of previous notification: 5.96%

So they had 3.86% (8,150,581 shares) on the 12th April.

[cwa1] 15/7/2021 08:22

I suppose we need to remember today is XD day as well, no matter how small. Pay day 30/7

[playful] 14/7/2021 21:28

The closer we see the end the faster they will go before the bounce to fair value.

[chucko1] 14/7/2021 21:25

So yes, it took them almost 2 months to sell 5.5mn. It has taken a further 2 weeks and I reckon they have shed 3mn more.

The 4/5 month estimate looks rather shorter now. Still does not explain someone paying 69p for 145k. The selling's not finishing tomorrow.

[hindsight] 14/7/2021 21:23

Sky, I was reading the 6th May RNS at 8m, am I missing something ?

[skyship] 14/7/2021 21:17

HS - see my 571 above, inc. this:

"The website states that as at 30th June they held 6.13% - so c.12.9m."

So, they are still the active and relentless seller. No-one else!

[hindsight] 14/7/2021 21:06

If the selling has only been Stadium, it should have been finished by now going by the last annoucement and the volumes since

[playful] 14/7/2021 20:55

Yes, we should hear something from East Yorkshire shortly, but the weather being what it is he might be having a day out in Bridlington.

[cwa1] 14/7/2021 18:36

Assuming it IS Stadium that's dumping it would be nice to hear what sort of levels they are at now. Must be due a holding RNS soon?

[flyer61] 14/7/2021 18:11

To an institution or a market maker I wonder. The Stadium supply of shares must be getting close to being exhausted. (he said optimistically)

[chucko1] 14/7/2021 17:57

As expected - a further large dose of medicine at 67.20p.

[flyer61] 14/7/2021 14:43

Got em all at 68.04p I see someone bought 145K at 69p. Now for the next update on NAV etc. oh and ex dividend tomorrow.

[chucko1] 14/7/2021 14:10

I got a few there. And more recently at 67.8, but for just one order. A larger one at 67.8 remains.

[hindsight] 14/7/2021 13:32

flyer61, I dont think the offer has come down to 67.6 today

[flyer61] 14/7/2021 13:13

Anybody have visibility of whats being 'offered' in the market at the moment. Nothing doing so far on my 67.6p.

[hindsight] 14/7/2021 09:46

Got filled today at 68 and 67.4 so now full holding. The LTV is my niggle so not going oversize..............yet

[flyer61] 14/7/2021 09:34

Well I have put in for 50K at 67.6p, lets see what comes to pass. Have a lot already so if I don't get not going to blub!

[theprovosts] 14/7/2021 09:09

Was that one last wallop down with DMA to see if the seller was following them down? Had no quotes to buy through brokers. Seller seems to be clearing, Market Makers not following DMA down with midpriced buys anymore.

Get yourself DMA to buy from the bid, IG a good bet.

[chucko1] 14/7/2021 09:08

Perhaps the other scenario is unfolding - another large volume about to go through today as the seller sees good liquidity. I can see little other reason for yesterday's happy trading around 68.5p to be today's 67.5p. Nevertheless, if this scenario is the one playing out, and you want more, it is possible to buy at 67.6p.

Or it was ...

I put in a few orders around 67.6 to 67.8 and only got one filled so far. Just traded up at 68.91 (for some reason)