Helical Share Discussion Threads

[essentialinvestor] 20/11/2017 16:35

Had a small amount before the close.

Growing political risks for UK REITS, with Corbyn waiting in the wings,
hopefully 2/3 years away yet.

Closed out my small LAND trade. No other REIT holdings.

[llef] 17/11/2017 12:24

(as a holder), it would be nice to see some directors buying.

"The Company uses gearing on a tactical basis throughout the property cycle, being raised to accentuate property performance when property returns are judged to materially outperform the cost of debt and lowered when seeking to reduce exposure to the property cycle."

It seems the market is punishing the share price for their current level of gearing, so its their (highly renumerated) acumen that is being doubted,so now would be a good time for them to wade in!

[essentialinvestor] 17/11/2017 10:29

285-290 may be an interesting area to add, if we go that low.

[essentialinvestor] 16/11/2017 16:24

Had a small amount @ 2.98.

Under 2.90 would not surprise me on a weaker market day, just imv only.

[llef] 15/11/2017 19:59

yep, Land have actually added to their retail exposure this year - spending 330m on 3 sites which seems a bit brave to me - and which has put me off buying some.

But helical were obv exposed re their gearing - I think that is why they rushed to announce yesterday that they had sold their retirement villages to L&G at 13% discount to book value. They have 100m conv bond maturing june 2019, and 80m retual bond maturing june 2020 - it would be hard/expensive to roll those over with gearing of over 50% - not going to be cheap with gearing of 43% either!

I agree that GPOR is best in class:

helical debt has average maturity of 3 years and rate of 4.3% and gearing of 43%
great portland is 5.7 years and 2.7% and gearing of 15%

I know which i prefer (tho I hold both), and Portland is still looking to sell more in H2!...

[essentialinvestor] 15/11/2017 17:43

Retail exposure is valid, thought about it today as bought a small
amount of LAND earlier.

Many larger REITS appear to have increased retail
asset quality over the last few years, whether that is borne out in the next
cycle downturn remains to be seen.

I was a little underwhelmed by the HLCL leasing update, may need to re-read
the statement. GPOR perhaps the sector pick atm, price can be volatile.

[llef] 15/11/2017 15:18

helical has higher gearing, but LAND has more retail exposure (quite a lot in fact).
so its swings and roundabouts really - do you agree?

[essentialinvestor] 15/11/2017 14:14

You can now buy LAND on a near 40% NAV discount, is HLCL good value in
this context at current levels?.

[essentialinvestor] 07/10/2017 12:02

Out of HLCL as of yesterday morning, may be the incorrect decision.
The macro backdrop looks to be more challenging given political instability
and slowing GDP.
On the flipside the already very considerable discount to NAV may provide
support. Good luck to anyone holding.

[badtime] 04/10/2017 11:02

30 years points to a lot of experience...or old age

[spooky] 04/10/2017 09:25

Thank you for the explanation.

[essentialinvestor] 04/10/2017 09:16

I tried to answer your question, rather than just ignoring it.
Stick with what works for you. And as per my post I sold a few, not all.

[essentialinvestor] 04/10/2017 09:13

On positions where I am less confident of direction, for example buying a small
amount of BT.a late yesterday and selling this morning, then will accept a
small return for a very short holding period. On hgher conviction positions
will usually hold in quantity.

[spooky] 04/10/2017 09:12

EI, trading them for 10-15p doesn't stack up in terms of risk reward, no matter how long you have been doing it.

[essentialinvestor] 04/10/2017 09:06

Bought down to 2.91, it's not pennies. And have been doing this for nearly
30 years.

I set price targets and attempt to stick with those.

[spooky] 04/10/2017 08:57

Not sure trading for pennies is the way to go. In fact i'm certain it isn't.

[badtime] 04/10/2017 08:55

He does quite well

[spooky] 03/10/2017 14:21

Why? Impeccable short term timing.

[essentialinvestor] 03/10/2017 13:50

Sold a few.

[badtime] 28/9/2017 17:35

What's your average EI

[edwardt] 28/9/2017 09:03

like your style

[essentialinvestor] 21/9/2017 11:42

Another few added.

[essentialinvestor] 20/9/2017 10:03

Bout back in this AM, small amount.

Intend to add in stages lower, if available.

[essentialinvestor] 25/7/2017 13:27

We'll move sold some more, as want to re-deploy the cash.
Discount to NAV still looks very generous, although less so than two weeks ago.

[edwardt] 25/7/2017 12:06

results at agm on pay - basically puts in doubt the business model here surely. could be a target imo. dyor etc etc.