Hansteen Share Discussion Threads

[rambutan2] 28/3/2020 20:40

Well, Jones and Watson assured legendary status with their 2nd top of the mkt exit. I wonder whether they are surveying the carnage and thinking Ashtenne, Hansteen, hmmmm...

[srichardson8] 05/2/2020 09:06

from the 'Scheme Document'
The following dates are indicative only and subject to change; please see notes (3) and (5) below
Court Hearing 4 February 2020 (“D”)
(3)(5)Last day of dealings in, and disablement in CREST of, Hansteen Shares(“D̶1;)(3)(5)Suspension of listing and dealings in Hansteen Shares7.30 a.m. on (“D+1”)(3)(5)Scheme Record Time6.00 p.m. on (“D+1”)
(3)(5)Effective Date of the Scheme(“D+2221;)
(3)(5)Cancellation of listing of Hansteen Shares By 8.00 a.m. on (“D+3”)
(3)(5)Latest date for despatch of cheques and crediting of CREST for cash consideration due under the Scheme14 days after the Effective Date

i.e. payment by 20th Feb latest I assume receipt very shortly after

[george stobbart] 05/2/2020 07:58

Gets delisted today. It's been emotional gents. Congrats to all

[jjhogg] 20/12/2019 15:34

Appreciate the advice thanks all. EDIN looks interesting and at a good discount to NAV

[poacher45] 20/12/2019 14:36

The directors were entitled to large share bonuses in 2019 depending on performance.I should imagine that this has all been calculated for in the deal. I do not think there will be a higher offer. I have bought RLE a Birmingham property company for 53p. Ex dividend on Jan 2nd for a 0.937 dividend. Dividends are paid quarterly and the forcast for next year is for 4p for the year. This will then be nearly 8% yield. Why the low price Invesco are forced sellers to pay off redemptions from there investors just like Woodford.

[ugandalad] 20/12/2019 14:21

Yes as a long term investor and indeed fan of the joint two MD's I decided the offer seemed fully valued and better to take the cash and find an alternative home. Already a sizeable holder of EDIN and hoping change of manager will steady that ship. Looking for alternatives in the property sector as I too am retired and need income. RGL looks interesting to me but whether it will protect my capital the same as Hansteen has only time will tell.

[pj fozzie] 20/12/2019 14:09

I sold out. It looks like a done deal. I've put the money into EDIN - not as high a yield as this, but pretty safe and the prospect of steady increasing divs and selling at a discount to NAV. With Boris at the helm, I think the medium term outlook for UK focused ITs has improved. I'd have been perfectly happy if the sale hadn't happened, but I can't change that. I just need dividend security as I retired early and dividends is my only source of income.

Cheers,
PJ

[jjhogg] 20/12/2019 13:32

Can I ask for some advice here. What is the value of staying invested here other than the potential for a counter offer? Are people generally selling out at this price now or staying invested? Thanks

[1pvh] 18/12/2019 11:52

Bitter sweet really Had them for many years. My largest holding, been great for income and capital growth. Probably wish it hasn't happened

[mach100] 18/12/2019 11:49

Interestingly the current ask is 117p and has been over 118p this morning with an Offer Price of 116.5p. A chance of a counter bid?

[essentialinvestor] 18/12/2019 10:45

Calling the top of the cycle?.

[george stobbart] 18/12/2019 10:43

Happy everyone?

[purplepelmets] 18/12/2019 09:44

Cash offer today 116.5p HAPPY DAYS!! well done all holders, we waited for this for ages.

[george stobbart] 04/11/2019 15:29

This beast ain't stopping, keeps pushing up everyday.

30 June NAV was 104.4 but mgmt said Re Q3 2019 performance "We have specialised in urban multi-let industrial property for 30 years and we haven't seen such an active occupational market with the pace and depth of rental growth that we are currently enjoying".

[rambutan2] 24/10/2019 15:21

See my comment, post 635. It was a no brainer.

[srichardson8] 24/10/2019 10:24

Well goodness me, that really came out of the blue (for me, anyway)! A very strong, positive statement on new rentals and rentals achieved. Over the five years I have held this stock it has been a bit difficult to follow the real returns what with sales of the European portfolio, capital returns, tax credits and dividends. But a pretty simple calculation shows the real returns have been outstanding though the size of the holding has gone down as shares were tendered. It is a pretty small company now, only £422mn market cap, but interesting to see pretty canny investors (though usually rather s-t?) like GLG getting on board. I also am surprised as I reckoned that the business they are NOT in was the purchase and lease of really big distribution centres which is the area of the property sector most obviously benefitting from increased demand. Or so I believe....
Anyway
management is very upbeat
it sounds as if assets at balance sheet value remain well below realisable values
rentals are up and
dividend returns are running in excess of 5%
What's not to like? Or am I in cloud Hansteen land? (I have added today)

[george stobbart] 22/10/2019 11:50

Moving to the right direction. Once Brexit is sorted HSTN will be takenover within a month.

[jombaston] 20/9/2019 13:54

I'm running the rule over HSTN but what surprised me is that they have a lot of properties with a very low average value - only £2.5m.

I'm not sure an institutional investor would be interested in such small lot sizes.

Smaller investors might be potentially buyers I guess. Does anyone have a view on why the talks with WHR broke down? Was it simply the price?

The small lot sizes may also explain why their operating and admin costs are high. On the plus side they are active investors and the smaller properties do generate a higher yield.

[rambutan2] 29/8/2019 15:25

Yes, results were fine. As a long term holder I tuned into the presentation as was surprised at the size of discount and was wondering whether I was missing anything negative. But was very reassured by the always excellent pair in charge and think this the pick of the property plays currently. I added a few for the first time since the depths of the bust.

[nimbo1] 21/8/2019 08:01

Good results - I’m happy buying income at a discount

[essentialinvestor] 17/8/2019 12:27

This Wednesday from memory.

Would expect the NAV gap to close, too wide atm.

[cravencottage] 17/8/2019 12:25

When are results for this REIT?

I gather they have a NAV of £1.05 a share and Yield close to 7%

Cheers

CC

[essentialinvestor] 15/8/2019 12:07

Getting some support ahead of results.