Hammerson Share Discussion Threads

[williamcooper104] 19/4/2021 14:21

Apart from part of their rental income at Bicester all of their rent reviews will be upward only However many rents have been marked down by CVAs

[nb92] 19/4/2021 13:47

I believe the 30% rent reduction comment has been somewhat misreported. They said they'd 'probably reduce rents from their peak by about 30%'. Considering valuations have been cut some 54% from their peak, that to me was not all to surprising. It is wildly different to an immediate cut of rent across the board of 30% as some have thought. Rent reviews are usually 5 years too so it is not like everything was rented at peak levels either.

[sr2day] 19/4/2021 10:00

reported on friday.bbc business news.

[redoctober5] 19/4/2021 09:48

sr2. that is old news

[sr2day] 19/4/2021 09:39

hammerson is reducing its rents by 30per cent.how will the share price react?

[researchcentre123] 15/4/2021 14:27

Did you get back in?

[return_of_the_apeman] 14/4/2021 08:45

Morgan Stanley exiting is probably what has caused the recent pullback

Hoping for some better days now :-)

[williamcooper104] 13/4/2021 21:13

React is v good - far better than property week and estates gazette

[pdosullivan] 13/4/2021 16:52

That's an excellent React piece, thank you for sharing.

[noujay] 13/4/2021 13:18

That's Morgan Stanley almost out then?

[williamcooper104] 13/4/2021 11:19

Oliver makes a very good point - the quick off market sale of the retail parks looks like it's been done to plug an imminent loan to value hole Retail parks are up 5-10 percent since Orion walked away so it would be disappointing to see these assets fire sold

[pdosullivan] 13/4/2021 11:08

Goodbody has a helpful note on HMSO out today. "We expect HMSO to hit its trough NAV in FY22 at c54p (EPRA NTA) down from the current 82p. HMSO currently trades at a discount of 34% to even our trough NAV"

[researchcentre123] 13/4/2021 08:40

Morgan Stanley seem to be adjusting their holdings between financial instruments and shares. Does anyone know - am I right in saying that if they reduce their physical shareholding to below 5% then they no longer need to declare what they are up to with financial instruments? That would seem a good reason if I were them.

[babbler] 12/4/2021 07:56

Only 40p? That's nice of them. Must be short...

[redoctober5] 12/4/2021 07:39

J P Morgon raises price target to 40p

[return_of_the_apeman] 12/4/2021 07:27

Even of it does not rise by 3.7p or more today, it is in the bank for later is my view fwiw :-)

[aby1972] 12/4/2021 01:53

My maths make we should I rise 3.7pThe retail parks are worth 9.2p on the net asset They trading about 4p currently Any thoughts?//;

[nb92] 12/4/2021 01:44

Disposals seem to be relatively good news. Expect to see a uplift in the morning. Net debt stood at 2,161 including brent, esq and nicetoile sales. Retail parks sale should take it down to around 1,820.

Cash stood at 503m at year end so ~575 including above disposals. With the retail park s Hammerson will have £920m of cash on hand.

That means they can comfortably pay all debt to March 2023 and if they raise another 125m then they are OK to Jan 2024. Disposals allows RRG to get better terms on refinance/bonds which is what i'm waiting for news on. If that goes well it should de-risk HMSO massively and propel the share price.

[1hughb] 11/4/2021 13:31

Thank you!

[pdosullivan] 11/4/2021 09:43

The Sunday Times article can be read in full here: https://twitter.com/olivershah/status/1381132405981974530?s=21

[1hughb] 11/4/2021 09:34

Any chance of the text - I'm not a subscriber! Thank you

[pdosullivan] 11/4/2021 08:59

https://www.thetimes.co.uk/article/hammerson-sells-retail-parks-to-canadian-giant-brookfield-for-350m-vh56ccn68