Hammerson Share Discussion Threads

[robertball] 11/2/2020 13:55

last man standing this one....

[bookbroker] 10/2/2020 07:02

This company must be in the worst possible position going down the line, it owns Cabot Circus, Bristol, Bullring, B’ham, Victoria Gate, Leeds. Three cities that are considering banning the use of cars in their city centres. That and the known retail downfall on the high street, and to cap it all, one of their outlets, Bicester Village, is likely to see significant headwinds from the fall in Chinese visitors. We don’t want them really anyway, they are in humane to animals, have a shocking record on human rights, and doing their best to lie about the numbers in this virus outbreak, cremating bodies before numbers accounted for properly!

[williamcooper104] 03/2/2020 13:52

Almost went long in uniball (still tempting) - but Europe is quite a bit behind on e-commerce

[hugepants] 03/2/2020 13:09

Citigroup have a 1p price target on Intu.


"Among the small-caps, shopping centre landlord Intu Properties, which owns Manchester's Trafford Centre, sank 6.7 per cent, or 1.26p, to 17.71p after brokers at Citigroup cut its target price from 53p to a mere 1p per share and kept a 'sell' rating on its stock."

HMSO may be in better shape but I cant see share price recovering here until there's a resolution at Intu.

[hpcg] 10/1/2020 11:54

Have gone short Klepierre for a trade! It looks to be at the top end of any sensible range, and is showing declining revenues. It is still making money though. Potentially a secular trend that Europe could catch up on so maybe some prospects longer. Even at rock bottom interest rates I don't think they have the headroom to take on Hammerson. Obviously some protection but ...

nickrl - An all share merger might be an opportunity for a larger group to cut corporate overheads, but that can't arrest secular decline, and might even make it worse.

[hpcg] 10/1/2020 11:44

flyfisher - no, I don't think so. Nor Simon for that matter, if they are still interested in the space. APG, just with an RNS increasing their holding, is more of a threat to a short position, but I don't see why they would pay materially more than they are. Anyone buying would just be making a negative ROCE even worse. However corporate action can never be written off, and were Sterling to slip materially against the Euro or USD I would be more concerned.

[nickrl] 10/1/2020 11:36

APG are upto 18% now and given they are heavily invested in Klepierre looks like they are expecting something to play out

[flyfisher] 10/1/2020 10:55

hpcg, Does it concern you that Kleppiere could return?

[hpcg] 10/1/2020 10:51

Retailer stocks hit again today, including B&M which didn't look too bad to me. They are probably more relevant to NRR but they are active in recyling store locations, which is can only be bad for landlords. JPL looked ok earlier in the week.

I saw the Elliot withdrawal as a negative. Not so much that Elliot could magic the debt away, but that it takes away momentum.

[hugepants] 10/1/2020 08:56

good call so far

[hpcg] 06/1/2020 12:37

I've gone short. I think this at least revisits the 220 area again.

[flyfisher] 16/12/2019 11:41

Retail park portfolio put up for sale as a block.

hxxps://www.bisnow.com/london/news/retail/400m-hammerson-sale-looks-to-tap-into-retail-park-momentum-102141

[skyship] 11/12/2019 09:37

hpcg - "I sold all my UK REITs". As a matter of interest; and if you are still visiting here of course; could you tell me what those REITs were?

[trcml] 21/11/2019 10:34

Thanks for that, Not only had I not heard of SETS but also just having skim read what it means/happens I am none the wiser.That's the advantage off not being arithmetically/mathematically adept! What seems to be apparent from my observation is that next day's opening share price bears some relationship to the previous day's 16:35 price. Before checking what's actually happening, I enjoy starting my day guessing whether the opening share price is is up or down!

[flyfisher] 20/11/2019 17:55

It is a sets stock, the closing sets auction is normally completed at 16.35.

[trcml] 20/11/2019 17:21

According to HL site, every trading day at 16:35 is a sizeable trade of circa £1M of shares. Every couple of weeks is a holding in the company announcement.

[trcml] 01/11/2019 10:38

APG up to 16.1952% as at 30Oct 2019.

Methinks that the two recent downgrades of HMSO by analysts plays into the hands of stake accumulators. By 'encouraging' private investors to sell for fear of worse to come, the accumulators can pick up more shares on the cheap. I wonder whether the downgrades have anything to do with the accumulators or is it just coincidence?

[777mason] 30/10/2019 14:06

people are now wising up to the way markets are working it must be getting harder to fool people now; that interest rates notably around the European central bank have gone to negative interest-rate policies; it won't be long now, get your money out of the markets. cash will be king. and companies are going to 0% of profits

[777mason] 11/10/2019 18:05

helicopter money coming in !!!!

[flyfisher] 11/10/2019 11:04

Netherlands based fund manager APG has recently been increasing its stake and now has 14.2% of HMSO.
APG also happens to be a 13% holder of Klepierre, who made a cash and share offer in the region of 635p for HMSO about a year or two ago.

Over the last year Klepierre share price has been flat, whereas HMSO has declined sharply.

Hmso are seeking to reduce leverage and it is reported that they have some european assets up for sale.

With their share price having held up, it would be far cheaper for klepierre to make a bid now. Or they could consider a purchase of the assets that they want, presumably european.

I think we have a fair possibility of either event happening and accordingly am long.

[777mason] 07/10/2019 15:33

institutional stake building knows that there is always someone that is willing to buy higher than themselves quick profit.

[hpcg] 03/10/2019 14:52

I sold all my UK REITs, including here. Didn't hold for long and was a tad late. Brexit still up in the air and the globally economy is not looking good. Retail news gets worse. Recent institutional stake building has to be a positive though.

[hugepants] 03/10/2019 12:21

UK Regulatory (RNS & others)

30 September 2019

Hammerson Plc

30 September 2019

Disposal of Abbotsinch Retail Park, Paisley

Hammerson plc ("Hammerson") has exchanged contracts for the sale of Abbotsinch Retail Park, Paisley to Ashby Capital for GBP67m. The sale price represents a net initial yield of 7.8% and is 3% below book value as at 30 June 2019.

Covering 24,600m(2) of floor space, Abbotsinch is conveniently located 5 miles west of Glasgow and is fully let to a high quality line up of brands including an anchor B&Q, Dunelm, Tapi and Natuzzi.

Hammerson acquired the site in 2012 for GBP42m and has added over 8,700m(2) of retail floor space since then through phased developments, at a cost of GBP17m. This expansion brought eight new brands onto the scheme, increasing the tenant line up from 6 to 14, and cemented Abbotsinch's position as the leading furniture and homeware retail park in Scotland. As a result of these works, the average rent per square foot rose from GBP17.78 in 2012 to GBP20.95 in 2019.

Together with the sale of a major stake in its Italie Deux flagship destination in Paris for GBP423m in July, and additional retail park disposals, this transaction means that Hammerson has now exceeded its minimum disposal target, of in excess of GBP500m in the year, having achieved GBP523m of sales in total.

David Atkins, Hammerson Chief Executive, said: "Our absolute priority is to reduce debt, and with this deal we have exceeded our target of over GBP500m in disposals in 2019. We continue to progress negotiations on additional assets across the portfolio. Disposals enable us to prove the value of this business and strengthen our balance sheet, and also give us the flexibility to benefit from the opportunities that will arise in the coming years, particularly with regards to our City Quarters pipeline."

The announcement above has also been released on the SENS system of the Johannesburg Stock Exchange.