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
  +0.00p +0.00% 927.50p 905.00p 950.00p 927.50p 927.50p 927.50p 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 0.0 2.8 55.7 16.7 47.93

Highcroft Share Discussion Threads

Showing 126 to 149 of 150 messages
Chat Pages: 6  5  4  3  2  1
DateSubjectAuthorDiscuss
03/6/2017
08:34
A £4.2m acquisition providing an initial 11.2% yield. Looks to be a good deal: https://uk.advfn.com/stock-market/london/highcroft-HCFT/share-news/Highcroft-Investments-PLC-Property-Acquisition/74897859
skyship
24/3/2017
08:00
Very solid results - a possible tick up of the share price to reflect the progress?
semper vigilans
08/3/2017
08:08
Relations seem more settled now.
semper vigilans
07/3/2017
22:59
I am a long term happy holder. I seem to recall some aggravation in the distant past from, was it a Brian Conn ? If so, is that the same Mr Conn as of Stewart & Wight plc and how are relations now ?
coolen
07/3/2017
11:21
MTIOC - It's a classic 'under the radar' type of company. Agree with all you said in post 95. I have seen the spread as high as 12% (Currently around 5%) which is down to the low liquidity I guess. Not a problem for us long term holders :-)
losos
03/3/2017
10:02
Steady as she goes!
crumppot
03/3/2017
09:21
The Finals approaching - 23rd March last year...
skyship
26/12/2016
15:02
Revisited HCFT as part of my Xmas review/wrap up. Been in since 2011 and am pondering buying a few more. The positives are as they have always been. Simple strategy focussed on SE commercial with a unit cost above HNW. Moving from retail shops to warehouses. Long lease lengths. Low costs (although these have increased over the last few years) and only a few deals a year. Very efficient in a SIPP. Valuation does not appear too high. Currently c. 10% discount to June 16 NAV (after taking account of spread, dealing costs etc..). The NAV will probably be c. 5% higher at year end. Also the NAV tends to be conservative with most realisations at 20%+ premiums to NAV (although some of these have been planning driven, which is more difficult on commercial rather than residential sites). The is a yield of c. 5% increasing by more than inflation. Not a bargin, but not expensive either. Only negatives that I can see are as follows. Unit sizes increasing, which means one or two sites could be a material % of portfolio. New incentive at 10% of distributed amount could drive poor decisions e.g. use of leverage to increase rental income or poorer quality by higher yielding counterparties. 42% Kinglee holding mitigates this. Also, with Kinglee and Conn holdings there will never be material liquidity in the stock (which is fine for long term holders like me). I suspect this is one of the reasons, HCFT gets little media coverage. Hope everyone is having a good break and best wishes for 2017. MTIOC
mtioc
14/12/2016
09:18
Another decent deal.
semper vigilans
25/10/2016
09:54
Decent yield, good cover, good cash position, as long as there is some discount (To NAV) I am happy to hold, as I have done for many years, and added not so long ago.
losos
08/7/2016
10:25
Very tempting buy for yield.
semper vigilans
23/3/2016
11:36
Looks good especially the Wisbech acquisition but the discount to NAV is now quite thin.
mw8156
23/3/2016
10:09
Ditto for full year.
semper vigilans
30/7/2015
09:07
Solid stuff for half year. Can't be much more rejigging of the portfolio to do so things should creep along steadily.
semper vigilans
26/7/2015
12:20
MTIOC - I continue the exchange on the PE thread... http://uk.advfn.com/cmn/fbb/thread.php3?id=26570589
skyship
25/7/2015
19:10
Skyship Thanks. Intresting read. My main issue with PE is subjectivity of valuation. Two surveyors could do a red book valuation of Highcroft's portfolio and would be a max of 10% apart and very likely within 5%. On the other hand, the difference on a PE portfolio could be 20% - even assuming no bias, valuing multiple unquoted businesses is just very subjective. I am therefore skeptical of some of the valuations and hence the supposed discounts. I was in LMS and found the tenders tedious to manage. I saw some comments on CDI, while some posters recognised the expro risk, no one mentioned Stork another O&G services business. The portfolio seems to have a 50% exposure to the sector, which may well get worse before it gets better. This highlights the need for the investor to have a view on the underlying portfolio, which is tricky for most PIs. That said, there were a few interesting companies (eg bpm) that I will look at further. Happy to follow up on PE thread. MTIOC
mtioc
21/7/2015
22:12
Skyship, Thanks. I will have a look at the both the thread and the articles. PE is relatively close to home.
mtioc
21/7/2015
07:39
"...but I am struggling to find value anywhere at the moment!" Agreed, too much of the general equity market is priced to perfection; and now many propcos are already discounting two years asset growth. As an asset discount player Markets are awkward to say the least. However, there is one very rewarding sector not generally followed by PIs; and where good discounts and prospects are still available - Private Equity. c35 players to choose from, many shown in the Header of the Private Equity thread (PE) - see below. Best value seems to be from the liquidating trusts - as they fulfil their objectives the discount obviously closes. See the Comments at the foot of the Citywire article - also below. http://uk.advfn.com/cmn/fbb/thread.php3?id=26570589 http://citywire.co.uk/money/are-private-equity-trusts-cheap-or-expensive/a824631?ea=277128&utm_source=Watchlist_Comment&utm_medium=Watchlist_Comment&;utm_campaign=Watchlist_Comment#827739
skyship
20/7/2015
22:00
My back of the envelope suggests current market value is c. 17% premium to Dec 14 NAV. The yield is also below 3%. The strategy over the last 3 or 4 years has been to sell smaller high street units and purchase large retail warehouses. The warehouses serve online and physical retail, so partially mitigate individual high street risk. The disposals (with central London and Bristol office exceptions) were of small high street units (often held for many years) at c. £1m - probably to HNW individuals (at auction). Between 2011 and 2013 they were getting a c. 35% premium to last BV. In the last couple of years that has reduced to c. 15% (albeit of written up values). The warehouses are larger £3m to £8.5m. These are out of reach of most individuals, but are probably more efficiently priced. A third of the 2014 NAV was from larger properties purchased in the last few years (i.e. less potential for material valuation uplifts on disposal). Despite this, I suspect that if the portfolio was realised now, it would probably be at or slightly in excess of the current market value. Overall, probably a bit over valued, but I am struggling to find value anywhere at the moment!
mtioc
20/7/2015
14:15
Look at the stocks in the Header of the CP+ thread and you'll see HCFT is a stand-out performer this year. Well done all holders. Problem is that they now trade at a premium to NAV, even the likely NAV as at 30th June. Propcos at a premium are a hostage to fortune... http://uk.advfn.com/cmn/fbb/thread.php3?id=29245091
skyship
20/7/2015
11:42
Someone is nibbling.....
semper vigilans
09/6/2015
16:28
Simon Gill is the relatively new MD. I don't think he has bought any.
crumppot
09/6/2015
16:08
Some buying again! I see JH bought some more last week - hope this is other director(s) acquiring.
semper vigilans
07/5/2015
10:36
SV Record day is tomorrow, drop today due to Ex/div
losos
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