Share Name Share Symbol Market Type Share ISIN Share Description
Highcroft Inv. LSE:HCFT London Ordinary Share GB0004254875 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +10.00p +1.10% 915.00p 890.00p 940.00p 915.00p 905.00p 905.00p 568 08:44:28
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 0.0 3.3 132.3 6.9 47.28

Highcroft Share Discussion Threads

Showing 201 to 225 of 225 messages
Chat Pages: 9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
10/10/2018
14:09
Posted in no.144 above: "Missed that £4.9m purchase of the Nuffield Health Fitness & Wellbeing Gym in the Broadway Plaza, Birmingham. 7% yield. Doesn't exactly shoot the lights out though, as what chance of asset management gains. Maybe we'll hear more in the Interim Statement." We didn't hear any further justification on a fairly poor acquisition in my view. This was all they had to say: " After the period end we reinvested the total proceeds of GBP2,475,000, together with the proceeds of additional disposals of our equity investments, into the freehold of a health and fitness club in Birmingham for a net initial yield of 7.0%. "
skyship
10/10/2018
09:48
Skyship I agree with you. HCFT has a good portfolio. What was wrong with their last acquisition?
crumppot
10/10/2018
09:44
SteMis - ~"Alternatively there is a surplus of properties and rents (and valuations) will remain depressed."...…;….? Not sure what the point of that post really was. The Market is tight and tightening in the regions. There is certainly no surplus; hence rents and valuations are rising. My point about replacement costs applies just as much to HCFT; and as Semper states, HCFT does have an excellent portfolio, though as I stated earlier, not exactly enamoured with their last acquisition. So Stemis, what was the point you were trying to make?
skyship
10/10/2018
09:18
Highcroft’s portfolio is pretty solid - it would be extremely difficult to assemble it from a standing start. Hence at some stage, will someone come knocking?
semper vigilans
10/10/2018
09:13
Alternatively there is a surplus of properties and rents (and valuations) will remain depressed. I think HCFT has a nice portfolio (I've no idea about RGL) but there's a lot of dross out there...
stemis
09/10/2018
12:37
Having top-sliced a few post the XD date, bought back yesterday @ 920p & today @ 910p. Look very good value again. Re valuations in the regions, IMO very interesting to look at replacement costs, something both RGL & WHR have talked about recently. Take a look at the Edison interview I refer to in this post on the RGL thread. =============================================== I was replaying that Edison TV interview today (see Header) so as to write down the best stat not usually covered; and I believe not mentioned before on this thread: # RGL's office valuations are based upon £130/sq.ft VERSUS a replacement cost averaging £200/sq.ft # RGL's industrial valuations are based upon £42.75/sq.ft VERSUS a replacement cost averaging £85/sq.ft This explains the lack of development in these sectors in the regions. The existing properties are too lowly valued by the open market. So with very little new stock being built, rents for existing properties might be expected to remain keen; and therefore valuations continue to rise. The stats are pretty incontrovertible, but it is the degree of the difference which certainly surprises me! ===============================================
skyship
10/8/2018
15:02
REITs have to pay out at least 90% of the their profits.
crumppot
10/8/2018
14:46
As a REIT the co is obliged to distribute its rental profits as a property income distribution. If net income rises the dividends will increase.
alanji
10/8/2018
12:22
SteMiS - I suspect unnecessarily cautious in view of the high dividend cover. Also these facts: # 2015: Divs = 36.0p....+6.7% # 2016: Divs = 38.8p....+7.8% # 2017: Divs = 41.0p....+5.7% # 2018: Divs = 46.25p....+12.8% I expect we'll see a Total anything between 52p-54p. Only 7 & a bit months to wait on that result!!! (23rd March last year)
skyship
10/8/2018
11:04
The 15.4% increase in the interim dividend follows a 15.4% increase in last years final dividend so I'm assuming there won't be a similar increase in this years final dividend. Even if they increase it by say 2.5% to 30.75p, total dividend for the year would be up by 7% to 49.5p, which is more than acceptable.
stemis
09/8/2018
07:57
They have always been conservative on NAV - would rather have it that way. Good PID increase and sensible gearing.
semper vigilans
09/8/2018
07:19
I was expecting a slightly better NAV performance; but not such a good hike up in the dividend. So, all looks good and at 950p the discount = 20% and the prospective yield increases to 5.5% assuming a 34.25p final (+14%).
skyship
01/8/2018
13:59
Sorry, a bit late to this Missed that £4.9m purchase of the Nuffield Health Fitness & Wellbeing Gym in the Broadway Plaza, Birmingham. 7% yield. Doesn't exactly shoot the lights out though, as what chance of asset management gains. That's higher than the yield on our current portfolio which is about 6.4%. However since at 950p, the share price is an 18% discount to NAV, the effective yield to shareholders is about 8.5%.
stemis
01/8/2018
09:36
Glenstone - 2% premium to NAV, not LSE listed, resi & retail.....definitely not one for me. Thanks all the same; always useful to see other valuations.
skyship
01/8/2018
09:18
They are listed on the channel island stock exchange. they are capitalised at about £125m. They have a mixed portfolio of Resi, shops, pubs and even an ice rink.
crumppot
01/8/2018
07:28
Maybe this: hTTp://www.glenstoneproperty.co.uk/
eeza
01/8/2018
07:23
Crumppot / SV - I am unable to find a stock called Glenstone! Could you perhaps oblige with an Epic....Thnx
skyship
31/7/2018
10:54
Thanks Crump - bit too biased toward resi and retail compared to HCFT. Sensible gearing though.
semper vigilans
31/7/2018
10:26
Anyone looked at Glenstone, which is tightly held but also another well run REIT.
crumppot
31/7/2018
10:03
Good point Skyship. There are other REITs that do not yield as much as HCFT but have a narrower discount to NAV. They don’t seem to be so prudently run either. I think the past has normally shown asset values to be slightly conservative here, but perhaps the spread deters investors slightly.
semper vigilans
31/7/2018
08:43
I see that SREI announced their numbers today. NAV increase since Dec'17 = 3.9%; so perhaps our NAV increase for the same period will break through the 3% threshold...
skyship
30/7/2018
18:38
Contacted the company - Interims anticipated 9th August.
skyship
25/7/2018
14:28
So, what might we expect of our 30th Jun'18 NAV? Well, looking at 3 other propcos (CREI, EPIC, PCTN) with relatively low LTVs throws up an average gain of 2.7% for H1'18. CREI's LTV is the lowest at 21% yet still delivers 1.7%. I would hope we might deliver a 2.9% gain to 1195p - taking the discount at 940p up to 21.3%. Better still I would like to see the Interim and Final dividends equalised out, with a small increase - say 25p/6month period. Currently 16.25p & 30.0p.
skyship
24/7/2018
12:12
Interesting to read the para below from an Ediston (EPIC) update last week: "In considering the retail market it is important to distinguish between the three very different sub-sectors within retail, being high street, shopping centres and the different categories of retail warehouses. High vacancy rates in the first two categories reflect an oversupply of properties, expensive and badly configured retail space and the difficult trading conditions in the mainstream comparison shopping markets. The Company has no exposure to these two sub-sectors. In contrast the retail warehouse vacancy rate is at its lowest level ever at c. 4.5%, reflecting low levels of development over recent years and the cost effectiveness of large, easily accessible modern units." Retail warehouses are HCFT's speciality... at the year end the portfolio stood at 74% warehouses and retail warehouses, with a small amount of residual residential and the remainder split between well let retail and offices.
skyship
05/7/2018
17:33
Missed that £4.9m purchase of the Nuffield Health Fitness & Wellbeing Gym in the Broadway Plaza, Birmingham. 7% yield. Doesn't exactly shoot the lights out though, as what chance of asset management gains. Maybe we'll hear more in the Interim Statement. Interims later this month. 28 July last year. Sleepy - sorry if I was rather peremptory over on the RLE thread. No way to behave to a long-standing contact!
skyship
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