Hammerson Share Discussion Threads

[researchcentre123] 14/6/2022 09:45

I guess it's only abt there redevelopment now and how to support that.

[hooley] 14/6/2022 09:16

At the last b/s date the NAV was 60p and the gearing - almost all long-term - in the mid 30s. Well worth a punt on a year's view, but just a half unit in the portfolio methinks.

[researchcentre123] 13/6/2022 08:33

If hmso carries on like this it could be a value buy again

[researchcentre123] 11/6/2022 07:59

You were right on Simon 2 yrs ago. Do you know how inflation affected retail the the 70s?

[researchcentre123] 10/6/2022 16:48

What I wld be interested in is how inflation Cld affect retail capital values. It's property but then a dying type.

[nickrl] 10/6/2022 16:45

research i find HMSO difficult to dig into its viability with its various JVs and associate holdings along with the risk from exchange rates. share price just drifts down and down yet no RNS indicating institutional selling.

[researchcentre123] 10/6/2022 16:26

I think productive assets make sense. I've got some altn - very small very cheap in relation to earning gold miner, but doesn't seem to respond too well to the war. So many variables aways to consider! I like small cap good companies. Got hit on a Chinese stock with very high assets and dwindling business (qd). It's the politics to think abt.

[researchcentre123] 10/6/2022 15:11

You probably got a few if those scrip dividends as well which were quite chunky. I find it hard to value what is there now though and don't really understand the big game plan.

[researchcentre123] 10/6/2022 15:00

Out at 39p a year ago. I felt at that price they weren't a bargain any more. It was touch and go on that, my second hammerson trade but averaged in at 25 with a big chunk of my holdings altho felt stupid when it was continuing downwards. Not sure what to make of it at the moment. Mine was always a bet that a vaccine would come through. I got out when pple were optimistic but then omicron came along. Still don't think they're a bad team at hammerson but haven't followed for a while

[trcml] 20/5/2022 13:29

i wouldn't be surprised if HMSo went broke in a few years' time. Shops in shopping centres are renowned for expensive overheads. What with LGEN investing in levelling-up schemes, chances are city centres won't have the monopoly of shops for much longer.

[williamcooper104] 17/5/2022 09:25

Ditto - as per usual - if you really want retail/shopping centres go for Simon Property - balance sheet comes first, and both their balance sheet and track record is best in class - and their historic performance is respectable even in a pretty woeful class too

[williamcooper104] 17/5/2022 09:22

So so funny Remembering Akins saying this his city offices at 10 yields were valued at half price He then went on to sell them to, guess who, Brookfield - at what was indeed half price Talk about history repeating It's not just the value uplift the free cashflow/operating costs are far far better on retail warehouses than on shopping centres

[flyfisher] 17/5/2022 07:55

Extract fron LAND results.

Meanwhile, retail park values increased a marked 31.9%, with 187bps of yield compression, driven by a strong recovery in investment demand.

HMSO did a great job of selling Retail parks at a discount.

[nb92] 17/5/2022 00:23

What price did you get out at research123? The last quarters update being poor imo is what convinced me to sell so I got around 31p a share in March. I've fared slightly better in Alibaba, Gym and Town Securities which were it's replacement. But I find the cashflows, both current and future of those three a lot more appealing. Recently however Sabre Corp is the one that seems most undervalued.

I'd much rather own a productive asset than commodities or bullion. Although I do have a chunk in Shell which is a play on Oil/Gas and worked rather well as my hedge against inflation when I bought a year ago.

[777mason] 16/5/2022 13:34

Thank the lord you have come away from the dark side, Researchcentre123, but always good to get your views on this, has they have always been very constructive points. Commodities I believe have a good 7years to run still, if we look at bitcoin and the dollar S&P stock markets in general the outlook is grim, don't trust mining companies because we have to rely on stock markets to be honest, (the last word some it up). Best place to put your money, bullionvault allocated physical metals with full legal tittle. Now is the time Researchcentre123 your thank me in 1 year time. Check it out.

[researchcentre123] 14/5/2022 18:33

I guess it's better than shelling out the cash but it is basically taking cash out of one pocket and putting it in another, less a chunk of cash for the govt if you pay tax

[nickrl] 14/5/2022 17:41

The scrip dividend could pay off it share price ever recovers though although that seems uncertain at present as im not convinced new mgt have any idea other than keep selling what they can currently.

[researchcentre123] 14/5/2022 13:52

Your commodities shld be doing ok I hope! I've been out of hmso for along time now so haven't been following how they are getting on. Their only real hope is redevelopment and change of use which is always good IMHO. I suppose the issue is how firm their latest rents are and what cashflow is like. I really am not keen on the constant scrip dividend policy.

[777mason] 12/5/2022 12:00

Researchcentre123 if this breaks 25 next stops suggest 17 not a good look.

[nickrl] 10/5/2022 17:00

Morgan Stanley have bailed out wonder whose picked that lot up

[bondholder] 25/4/2022 14:31

The extremely poor earnings are a concern given the backdrop of very low interest rates. Heaven help them when rates go up and the consumer spending recession starts to bite.

[williamcooper104] 24/4/2022 22:29

Oh it goes back a lot longer than that

[nickrl] 24/4/2022 19:41

@m_kerr spot on but that is the past but where are we headed? As i see it post sales and reorganisation they will now have a lower run rate on interest costs and say they are getting on top of admin costs which they need to as it absorbs far too much. However, even though ERVs are still dropping they are still having to agree leases below ERVs to keep or get tenants which will put pressure on NRI. They also have a fair amount of CAPEX to fund but looks like the big developments they are proposing will be in JVs. With the scrip divi increasing the share count by a massive amount every year not sure it will ever payout a decent cash divi again.Note this isn't easiest REIT to unpick I have to say but could be an opportunity emerging at this share price .

[sr2day] 24/4/2022 17:18

don,t lose faith.