Hammerson Share Discussion Threads

[jas0701] 10/3/2023 17:07

4.6 million shares bought. They are filling the confers of their mates !!!

[trcml] 10/3/2023 11:10

And sometimes a unit can be unoccupied because the tenant has shut up shop but is unable to find an assignee or sub-tenant to take over.

[williamcooper104] 09/3/2023 17:39

Sometimes a unit can be unoccupied but under lease prior to a tenant fitting out/moving in But if there's loads and loads, and landlords have got very cute at covering up voids, then that does tell it's own story

[mountpleasant] 09/3/2023 17:21

The stated occupancy rates are mis-stated.
I can see a slew of empty units in the Dundrum mall.

[sr2day] 09/3/2023 10:03

Will be taken over at 50p

[nickrl] 01/3/2023 18:48

made 50% over last two months someones interested in it

[thomstar] 23/11/2022 08:01

This stock is dog sh1t

[gazzawak1958] 02/11/2022 11:39

hopefully a lot of stock has been sold off in anticipation of the scrip distribution landing tomorrow. A number of shareholders I know worked out how many they would receive and sold already since ex date.

[jas0701] 02/11/2022 07:41

388,170,526 New Shares to be admitted to trading on the London Stock Exchange, Euronext Dublin and the Johannesburg Stock Exchange, which will bring the total number of issued 5 pence ordinary shares in the Company to 5,002,265,607.How is 388,170,526 New Shares going effect the share price on Thursday?Looks like there will be a massive overhang, until these shares are absorbed. massive dilution there.I think the share price will plummet on Thursday. Any thoughts please ??

[nickrl] 20/10/2022 11:58

@mountpleasant there is no point embarking on that scheme in the current environment even if they could raise the cash it would be at least 7% and they have the threat of massive construction inflation to contend with. Better to sell it on to someone else.

[mountpleasant] 20/10/2022 11:28

Major capex is needed for the city quarters project. How are they going to fund say 500m.

[williamcooper104] 19/10/2022 11:07

You get your protection from having senior debt and you use a bit of your return to buy an option to give you some growth upside in the sp

[researchcentre123] 19/10/2022 10:40

How does that work William and how is one related to the other?

[williamcooper104] 07/10/2022 18:00

Another way of playing HMSO Buy the debt; invest some of the yield in call options Haven't done the maths on this yet; so mightn't make a lot of sense but worth having a think about yet

[williamcooper104] 07/10/2022 17:54

Wow HMSO 2028 yielding 10.7 percent SGRO 2029 at 6.4 percent You can take SGRO as being as credit risk free as you can get in the sector That's at least partially the result of pension funds panic selling to cover margin calls

[williamcooper104] 05/10/2022 14:29

You can assume they've tried to sell everything From memory, and it could have changed, they don't have a controlling interest in Bicester - which complicated a sale

[nickrl] 05/10/2022 14:09

jas0701 the monetary dividend is a pathetic 0.2p but the scrip issue better value at 2p and potential for share price gain if you can sell them easily. However, it does mean they are issuing a lot of shares and im guessing thats why they are doing a capital reduction to try and keep number of shares in circulation at a manageable level.

Im not in here too much of a byzantine comapany structure to get your head around although they do have some decent assets like Bicester which they ought to have sold off when values were high to help the rest of the business.

[jas0701] 05/10/2022 01:36

Can anyone in the know explain Court hearing to confirm the Proposed Capital Reduction please What is HMSO trying to do there?Will it effect share price?Any thoughts on holding shares for the dividend? is it worth it or not.

[williamcooper104] 03/10/2022 12:26

From what I'm hearing lenders are being brutal on covenantsWhich makes sense; if a loan is in trouble and the LTV is super high the bank will likely take a loss so may well want to delay that But when a bank has a covenant at 50 or 60 then they are incentivised to get cash from the borrower as they ought to be able to enforce (remember a banker once telling me that 60 was his favourite LTV as meant the market could fall 20 and you could fire sale at a further 20 and get out whole) If the borrower doesn't have the cash then there's plenty of PE funds who do and will step up (at a massive cost) with the funds

[nickrl] 03/10/2022 12:19

Wiilliamcooper agree that the way CVAs were used means property is hugely exposed as they don't have the ability to vote it down based on overall financial liability of lease length. Reckon we will see plenty of rent frees being granted to keep tenants in place and avoid empty store costs. the other factor is whether lenders will be lenient on covenants again.

Certainly interesting times and im out of this one but always keep a watching brief to see what read across there is.

[williamcooper104] 03/10/2022 11:49

I'm out at moment - but watching Agree - its got to be very sensitive to the wider economy We can now assume that all leases if not turnover related effectively are, or rather turnover but only so long as a tenant is profitable, tenants have gotten into the habit of not paying rent now, plus CVA still v tenant friendly Thus we are likely to see rental levels fall, until there's a recovery in the UK economy The balance sheet is key; gives some runway to buy in and not get your timing right

[williamcooper104] 03/10/2022 11:46

As they're in sell off mode, maybe the best thing is to get rid of everything bar Bicester which is their best asset (though from memory they still don't have a controlling ownership in it)