Hammerson Share Discussion Threads

[ranji] 31/5/2020 14:00

Hyelighthouse building 13 percent stakerumour has 150 ashare price good source it got assets french operations are open

[researchcentre123] 29/5/2020 23:23

This is the man behind Lighthouse. Just a slight improvement on Atkins..... There's been a lot of volume today, which I would guess will lead to another rns on Monday from Lighthouse. Let's hope they make a move on the company as a whole or take over the management in some way.

[researchcentre123] 29/5/2020 13:28

When you consider the price was cheap anyway before because of what people thought of the management....with a change it could have a double uplift - from Corona going and hopefully a better director....maybe someone who's actually done some business himself rather than just being an emplyee

[researchcentre123] 29/5/2020 12:04

No up to 13.33 ..... Which is quite a jump.They have bought equivalent and more to what the shorters were selling. I hope they send them a thank you at Christmas!

[tomboyb] 29/5/2020 11:36

Lighthouse playing clever -

Now up to 10.46% -

[bolador] 29/5/2020 11:14

This is becoming a long term play without much downside now, market risk excluded.
There are not many shares where the asset cover even at 50% last valuation will provide downside insurance. What is needed is new management and that process has begun. I keep looking for the trap but cannot see it yet if any is there.
As a matter of interest Cineworld announced among other items that their banking covenants were being forgiven and the shares rose over 30 %.

[researchcentre123] 29/5/2020 10:19

If you add in the 200m they just raised I think their balance sheet total would be about £565million going on the march accts. However I guess as theyve been buying low they're in a profit situation on the shares the proportion would be over 10% of a balance sheet that is higher than that figure. However I don't think you can restrict their capacity just on the basis of balance sheet total. They just raised £200m largely in cash which at the current share price would go a long way in buying Hammerson if that is their plan. They seem to have funds behind them to raise money when they want it as well with some significant backers, so whereas I looked at initially Lighthouse not being able to do a takeover, I have a feeling they can do what they want at the moment. Or they may just want to work with other shareholders over the management. Don't think they'd have problems getting their ways with them at the moment. Look forward to the next RNS!

[bolador] 29/5/2020 09:50

What proportion of assets is 11% of HMSO to Lighthouse, thanks.

[researchcentre123] 29/5/2020 09:42

Some big transactions going on - more bought in the last 2 hours than a couple of busy days

[researchcentre123] 29/5/2020 09:37

The volume looks crazy. Something is going on.

[s34icknote] 29/5/2020 09:29

Was that a 15 million trade ?Sicknote

[researchcentre123] 29/5/2020 08:56

https://www.express.co.uk/finance/city/1287469/uk-economy-Bank-of-England-v-shaped-economy-coronavirusI guess this might all work out nicely. If the economy recovers fast as predicted and now hammerson are getting rid of "Mr. Please don't buy our assets I'd rather wait for the shares to collapse"....this company could just be off to a very rosy future

[researchcentre123] 28/5/2020 18:09

Desmond de Beer appointed as a director of Lighthouse yesterday. Net worth $114m (and that is only what is public knowledge). Has built up a load of businesses successfully in property, made a great deal of money and has a big shareholding in Lighthouse. Something tells me that someone like that just won't accept the type of washout management Hammerson has had and hopefully he'll be busy contacting the other major shareholders to make sure that now change is coming, there is some decent management in Hammerson, so that the share price reflects its asset value.

[s34icknote] 28/5/2020 16:39

Nice finish Lighthouse still buying Sicknote

[researchcentre123] 28/5/2020 12:25

I agree Atkins and co are not too clever. Put him in a tech co. and it would be bankrupt in 6 months. But that is the beauty of property - the buildings are still there despite their lacking normal business skills! Perhaps student let flats or HMOs would be a better comparison than houses (which are generally bought by owner occupiers so you don't want a tenant, but you hopefully get the idea). Money in property is made in the buying, which here is cheap for us. If you buy cheap enough, you make money - you don't do it just by hoping the market will rise. There's a huge margin for comfort here which is why I'm long and presumably why Lighthouse are too.

[bolador] 28/5/2020 11:46

I think Researchcentre123 has said that he has played this occupancy/rental game in real property successfully in the past so probably right to take his word for it that HMSO is good value at todays price.

[trcml] 28/5/2020 11:30

The daft thing about this share is your assessment! For a start, f you buy a house with a tenant you'll pay less because a vacant house fetches a higher price. Also if the tenant leaves then the shortage of residential to rent is such that likely it'll relet at at least the same rent as before. If you buy a shop with a tenant you'll pay more for because of the existing and reversionary rent. If the tenant leaves then there is no certainty of reletting quickly and in the current market no certainty of getting even the same rent as before and furthermore no certainty of getting a long-enough certain term of lease without the yield being affected.

I agree that the majority of fortunes in the UK have been made in. property not because it really isn't that complicated because it is easy to totally screw up but that the successful investors and their advisers have the know-how.

[flyfisher] 28/5/2020 11:24

''it's very hard to totally screw up unless you are over-leveraged''

HMSO management have achieved it quite easily.

[researchcentre123] 28/5/2020 09:04

Here's the daft thing about this share. If you are an investor and buy a house with a tenant - you'll pay a bit more. If that tenant leaves so there is no income, you might mark down the value a little but you don't say that the house is now worth an 1/8th what you bought it for. However that is exactly what has happened here. The stock market doesn't seem to understand the difference between say a website, where if the income is zero, that is pretty much the end of the company, and property, which if it has no income for now, will eventually get some or be redeveloped etc. There is a reason that 90% of fortunes in the UK have been made in property and that's that it really isn't that complicated and it's very hard to totally screw up unless you are over-leveraged, which this company isn't.

[researchcentre123] 27/5/2020 16:51

There's another advantage for companies if it is unlisted and broken up - you've got its value as the value of the assets on the balance sheet if you go about it the right way. So if you bought this company at £800million, you could add £4 billion to your balance sheet. If my pockets were just a bit deeper.....(well like a lot really!) However the logic is there and over time that boosted balance sheet could turn to a cash boost. Would be a great leveraged buy-out for someone.....

[researchcentre123] 27/5/2020 16:36

Might be interesting if Lighthouse worked with Blackstone and APG jumped in for the ride. Buy it, take it private, sell of some key assets, refloat later.... the margin is there frankly. The market cap still isn't far off what Orion were going to pay for 5% the whole portfolio..... It seems not to be working as a listed share, so why not break it up into the profitable units. In fact there is that 1.4 m sq ft office building they are developing. All they'd have to do would be to change the use to residential, spin it off and they'd have the rest of the portfolio for free.....

[trcml] 27/5/2020 15:34

I reckon any bid would involve the few substantial shareholders, most of whom aren't interested in the whole lot. There'd be no benefit to the only bidders in fighting over it, just end up paying more than necessary. I'd think around £1 a share would clinch it. Now that the share price rise over the past few days is beginning to falter, (probably the market is wondering what good the shops re-opening so soon will do: Primark for example has announced not reopening any of their stores just yet), I've just sold enough of my holding to get my money back, the balance stands me in at just under £0.04.

[s34icknote] 27/5/2020 14:44

They could combine the stakes and make it over 30 percent for a bid ?Apg been buying all the way to January this year Sicknote