Hammerson Share Discussion Threads

[hybrasil] 13/5/2020 09:11

Research
However if you allow for a 50% drop........".

[researchcentre123] 13/5/2020 09:07

Of course no one is buying but the courts are not in a hurry to wind anything up either

[researchcentre123] 13/5/2020 09:05

If you allow for a drop of 1/3 in asset value since December valuation, then assets are worth £4.89bn. If you knock off debt/liabilities of 2.93bn then that leaves net assets of 1.95bn. market cap is just 335m. So asset cover then is 583% or 256p per share

[bookbroker] 13/5/2020 08:20

Problem is how you value the assets, it is what someone is prepared to pay for them, in this market that is anyone’s guess, banks and bond holders not going to forgo the debt at fire sale prices, ordinary shareholders will be left with nothing. The debt does not decrease in line as quickly as the asset diminishes in value, book value is already out of date.

[riostroy] 13/5/2020 08:19

-4% in 20 minutes of trading - fantastic start - FFS

[bolador] 13/5/2020 08:15

Hard to reconcile the share price with a nav of around 600 last December. Even assuming a fifty per cent fall in that number still leaves the share price looking odd.
I suppose the market is worried that few tenants will pay the rent and banking covenants will be breached but in a liquidation it seems there would be a surplus left for shareholders. Is this correct ?

[riostroy] 13/5/2020 08:05

Another day - another crash in SP

[kenmitch] 12/5/2020 17:45

Researchcentre123

Carnival did not afaiaa have a rights issue. There are various ways of raising new money. Placings with private investors excluded are common.

A rights issue is for all investors. They are usually done with the new shares offered at a significant discount to the current share price. BUT unless prepared to buy those new shares, current holders are diluted. The share price is adjusted down to account for the rights issue shares. And shareholders holding before the ex rights date are only offered a certain number. eg like 1 new share for every 3 held. Or in more desperate cases 2 new shares for every one currently held. In cases like that investors are either heavily diluted or have to cough up quite a lot of cash

There’s more to it than explained here. e.g holders can just let the rights lapse and receive cash for whatever they end up worth. Or they can sell their rights. And only buy some of the rights shares they are entitled to etc etc

[sr2day] 12/5/2020 16:44

trust me there will be a spin at some stage when the shorters will be taken by surprise.

[sbb1x] 12/5/2020 16:31

Bounce of 38p?

[essentialinvestor] 12/5/2020 14:29

LAND is approx 60% office.

[mcbull] 12/5/2020 13:02

Anybody believe in Revenge shopping?

[riostroy] 12/5/2020 12:49

Land Securities lost only 50% so far. How it can be compared with HMSO???

[researchcentre123] 12/5/2020 12:37

Vaccine results for Oxford trial in 4 to 6 weeks. It worked for the monkeys so hopefully that'll work. That has to make this stock jump

[riostroy] 12/5/2020 12:33

UK real estates are losing ground

[riostroy] 12/5/2020 12:33

American real estates are rising - Macerich, Simon all rise pre-market to 7-8%

[trcml] 12/5/2020 12:31

It will have to be very good news. Land Securities reckons the economy will not recover to pre-coronavirus levels until 2022. The value of Land's retail portfolio has lost more than 20$ over the year.

[sr2day] 12/5/2020 12:17

this will come good.at the moment shorters is in control until Hammerson comes up with another piece of good news.it should not be long.

[researchcentre123] 12/5/2020 12:11

Lighthouse keep buying. They are real estate investors which is fundamentally a long term investment

[riostroy] 12/5/2020 11:35

When HMSO starts reopening? -7% again with FTSE +1%

[researchcentre123] 12/5/2020 10:52

I suppose it's how you value stuff. There is a price for everything. Does anyone here know how a rights issue might work? I had some carnival. They had a rights issue at $8 raising $500m and raised $5000m in 2 yr bonds with options diluting the stock by 1/3. Now the stock is trading at $13.50. A rights issue doesn't have to be a disaster.

[s34icknote] 12/5/2020 10:27

Chinese only account for 10 percent of sales at Bicester village Sicknote

[hpcg] 12/5/2020 09:11

Reality - Next took the make-up halls only, while Hammerson has plans to purpose the other space for 'leisure'. Whatever that means. Shorts can be encouraged that some people still see value here. If everyone thought equity had less value then there is no short thesis.

[researchcentre123] 12/5/2020 08:58

Hammerson would be better off breaching their covenants, paying what they can in the meantime - what are the banks going to do? If they repossess Hammerson they'll have to repossess all commercial property in the country at least in the retail sector and the government don't want them to. The shorters are making this out to be a big deal but I wouldn't want to be shorting a stock trading at 1/12th net asset value. Look at reality - Debenhams go bust and are replaced the same day. This is not like if you are a Debenhams shareholder no income no cash the end. Here the properties still exist and new tenants will be found. The Chinese will come back shopping in Bicester village especially with weaker sterling.Its only time perspective and this company is asset rich.