Hammerson Share Discussion Threads

[researchcentre123] 02/12/2021 12:06

Not sure I quite understand - are you saying shld be treated as an 8% yield on actual assets? I can see its 2.9 pct at most before taking any costs away. Are you thinking this shld be down a lot?

[hardupfedup] 02/12/2021 11:29

Operational and trading update

Hammerson ("the Company") today announces that, assuming no further periods of covid-related disruption in December, it now expects that FY21 adjusted earnings will be no less than GBP60m. This is due to an improved outlook for net rental income, principally from stronger collections rates, and a better-than-expected performance from Value Retail.

[catsick] 02/12/2021 08:53

Interesting to see a decent percentage of shareholders left the free money on the table re scrip div

[williamcooper104] 01/12/2021 23:39

So I reckon at 8 NIY that's pricing in c25 percent rental income fall

[williamcooper104] 01/12/2021 23:37

The Bluewater 25 percent stake went at £180m/8 NIY

[williamcooper104] 30/11/2021 14:35

Against that - look at the U&I takeover (trading at huge discount with balance sheet issues and taken over at small discount to NAV) and record amounts of PE dry powder

[researchcentre123] 30/11/2021 14:32

Thank you. Yes there is a lot of repositioning to do.

[williamcooper104] 30/11/2021 14:04

I've been out to for several months So haven't looked closely They are selling Silverburn (bought at the absolute bottom of the cycle in 2009 - and yet still sold for a huge discount to what they paid for it) The next balance sheet valuation will be reflective of hard transactional evidence; the question as always with HMSO is how much capital they have to reposition their assets

[researchcentre123] 30/11/2021 13:39

Thanks William so what do you think of hmso book value at the moment then in terms of what it's worth then? I was out of this stock beginning of June but am wondering at what level it's worth getting back in. It's gone down quite a bit even allowing for the stock dilution but things don't look overly rosy for now

[williamcooper104] 30/11/2021 11:22

So if the best two shopping centres in the country have traded at distressed levels - just think of all the secondary/territory centres local authorities have picked up over last 5 years

[williamcooper104] 30/11/2021 11:20

Actually traditional red book valuations are not based on DCFs LAND are buying a 25 percent stake in Bluewater for c7.5 NIY on £215m - that's down nearly 70 percent from what they paid in 2014 for their existing stake That is being talked about a lot as potentially a bottom though and there's more hope of a recovery next year - though clearly that depends on Omni Covid

[researchcentre123] 30/11/2021 09:02

Anyone any thoughts about how real asset values are doing here? They're based on discounted cash flows as I understand it but I'm wondering what's really likely to happen here ie will rents drop another 25%...none of the shops seem to be profitable right now which doesn't bode well for rents. I walked down my local high street a few days ago and the shops were dead with charity shops springing up everywhere (no rent).

[researchcentre123] 08/11/2021 11:24

Thanks that's a brilliant link!

[nb92] 08/11/2021 00:24

@researchcentre paste the url into archive.is

[researchcentre123] 07/11/2021 20:27

Anyone got a copy of the times article that mentions hammers on? I'm not a subscriber

[stelondon] 04/11/2021 12:34

IG not accepting bids!!

[redoctober5] 04/11/2021 08:58

Who woke up Hammerson today

[catsick] 28/10/2021 08:15

The trade here is cleary to buy the day before xd and sell the day after and then get your 2p worth of scrip for 0.2p

[davvero] 22/10/2021 09:00

so is the oversize scrip going to push the share price up this week?... I mean, surely no one would sell unless forced by personal needs?

[nickrl] 20/10/2021 18:53

Farrugia look at the level of rental income its falling every qtr in part i know due to retail pk sales but they still aren't collecting all the rent and there are big lease incentives in there as well. They also have big costs running these centres and with recent energy spike they will get hurt there as well. Debt is down and short term no immediate issues but LTV still knocking 50% despite sales. So NAV bound to take another hit although a lot less than recently but how near are we to the bottom?

[farrugia] 20/10/2021 09:42

the update was good - why is the share price down? Also, I do think that Hammerson pay its employees too much though

[grosstonnage] 20/10/2021 09:22

Sell on news.

[pdosullivan] 19/10/2021 06:55

That's very fair - and we are on the same page as I do not think we have seen trough NAV yet.