Hammerson Share Discussion Threads

[zccax77] 24/6/2019 17:08

Average shopping centre net effective rents agreed in Q1 2019 declined by 33.2% compared with the 2018 average.

However, this decline in shopping centre net effective rents masks the disparity that exists between the weaker and stronger centres. At the weaker end, on a like-for-like basis, some centres have seen declines of between 40-60% in Q1 2019 versus the 2018 average. In contrast, stronger centres have seen net effective rents increase by an average of 3.9%.


hxxps://www.savills.co.uk/research_articles/229130/282362-0

[bondholder] 24/6/2019 16:01

B and Q lease renewals in 2018 average rental reductions 22%.

[bondholder] 24/6/2019 10:16

It is an interesting point.Next plc in the 2018 report disclose that they had average rent reductions of around 30% in 2018 at break or renewal. Somebody is not fessing up. Nowhere in the REIT co reports have I seen this level of reduction disclosed. Incidentally if one took the view that prime sites are escaping these reductions then the implied reduction in the rest would have to be even higher !!

[hugepants] 23/6/2019 18:09

18/06/19

Hammerson on high after analysts decide to buy
louisa clarence-smith

Shopping centre landlords that have been trying to tell retail doom-mongers that not all physical stores are without a future received some rare backing from the City yesterday. In what Peel Hunt described as the first time “for many years” that the broker has been positive on a prime shopping centre real estate investment trust, it upgraded Hammerson to “add” from “hold”.

Hammerson’s portfolio includes the Bullring in Birmingham and Brent Cross in north London. It also operates centres in France, Ireland, Spain and Germany. Shares in the FTSE 250 landlord have lost more than half of their value over the past two years and now trade on a 60 per cent discount to the company’s net asset value, illustrating the yawning gap between the…

[777mason] 17/6/2019 13:53

footfall maybe high, But spending is very low and hammerson may need all the demand they can get to pay off their debts even agrees to rent cuts as part of a deal stop its collapse.which mean the like of you and me Will feel the pain!!

[hugepants] 17/6/2019 13:20

I don't think demand is falling in prime shopping centres eg. No debenhams in INTU or Hammerson are marked for closure presumably because footfall is so high.

Nice 3% rise here today.

[propinv] 14/6/2019 14:37

Monsoon announce CVA now. This is starting to snowball

[roulettewheel] 31/5/2019 05:49

Hope you mean 280 :)

[propinv] 30/5/2019 16:29

I have a technical target of 180p. Surely not, though!

[hugepants] 30/5/2019 16:10

Still looking a bit on the weak side here.
The other odd thing about this stock was the buyback which they decided to abort half way through a few months back. They were buying back at around the 350p mark. Pity they didn't wait a bit longer.

[propinv] 24/5/2019 15:35

Or should stand down

[hugepants] 24/5/2019 10:45

David Tyler, Hammerson chairman, said: “The board has considered the revised proposal from Klépierre carefully. At 635p, it is only a 3 per cent increase on the previous proposal and continues very significantly to undervalue the company.”

This guy should be doing stand-up.

[hugepants] 23/5/2019 23:57

I picked up some more today.

Interesting that the Klepierre share price has recovered to just about where it was when they bid for HMSO.

This from 13 months ago;

"European shopping centre landlord Klépierre has bumped up the value of its potential new offer for UK mall owner Hammerson as it looks to wrestle the company from its deal with smaller rival Intu.Klépierre — which made a £5bn takeover approach last month — has increased the value of its offer to 635p a Hammerson share, to be paid half in new Klépierre shares and half in cash. Hammerson’s board, which swiftly rebuffed last month’s approach saying it “significantly” undervalued its portfolio, has also rejected the new terms and advised shareholders to take no action. David Tyler, Hammerson chairman, said: “The board has considered the revised proposal from Klépierre carefully. At 635p, it is only a 3 per cent increase on the previous proposal and continues very significantly to undervalue the company.”

[propinv] 23/5/2019 16:44

This has months of drip, drip, drip ahead. The problem is they have a largely illiquid portfolio (due to size). That isn't going to change till Brexit clarity. The other headwinds - retail, yields etc add to the perfect storm

[hugepants] 23/5/2019 13:34

Looking a bit grim here

[hugepants] 10/5/2019 16:02

anyone know if the PID part of the dividend paid later than the ordinary part?

[bolador] 09/5/2019 16:27

The 98 shares are probably just part of a contractual executive incentive scheme.I do not think its indicative of any view.

[propinv] 09/5/2019 13:37

No material transaction in the pipeline then if a director just bought

[hugepants] 09/5/2019 09:20

Good to see director buying here. 98 shares bought by Sarah Booth (initial notification).

[hugepants] 08/5/2019 12:09

Heading towards a 60% discount to NAV but this lot must be behind the curve as regards asset write-downs. They couldn't reject a 625p offer then announce huge write-downs 6 months later. No indication yet the dividend is under threat although given yield is now 8.5% a reduction must be likely.

[hugepants] 07/5/2019 20:33

going a bit pear-shaped here.

[sharesoc] 07/5/2019 13:37

There is a detailed report on Hammerson's recent AGM which can be found in our members area here:

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[propinv] 07/5/2019 10:58

Slow drip, drip, drip. Property fund redemptions are investor sentiment are driving this down. Likely to continue for months unless catalyst