Highcroft Investments Share Discussion Threads

[semper vigilans] 30/6/2012 07:58

Sale of Victoria property looks to be at a good price in the current investment climate.

[semper vigilans] 23/5/2012 10:22

Price up when the markets are not too good - solid stock - I hope!

[semper vigilans] 18/4/2012 09:35

Anyone have any ideas about the AGM proposal to distribute capital from sale of equities?

[losos] 02/4/2012 09:48

Yes, thanks Topvest :-) At last the 'spread' is staring to narrow.

[semper vigilans] 16/3/2012 10:16

Well done Topvest - much better with pictures!

[topvest] 15/3/2012 13:22

Thought I would start a new thread, as this is not a REIT failure in my view!

[topvest] 15/3/2012 13:20

Yes, steady as she goes. I think you are a tad off track about an end game. The company continues to deliver a steady return and I can't see much scope for a major change, despite the Conn rebel shareholder. From my perspective I'm happy to hold and take the income + prospect of a steady capital return. Obviously, when an end game does come there is a 40% uplift given the massive discount. Overall, not a bad investment proposition!

[semper vigilans] 15/3/2012 09:18

Steady results - time for a plan for an end game as the business is definitely mature.

[losos] 10/2/2012 12:04

MTIOC - Thanks for info
SV - Put my whole portfolio into 'nominee' some years ago so no probs with these boiler room scams thankfully.

Interesting share price rise today, wonder what has triggered that ?

[semper vigilans] 24/1/2012 08:41

Watch out - someone is using the share register to cold call to sell their services.

[mtioc] 22/1/2012 20:27

Losos: Not sure about non residents. I hold mine in a SIPP, which combined with the REIT status is quite tax efficient.

SV and TV: Interesting RNS pre-Xmas. Conns have added 20k shares to their c. 1m since Dec 10 accounts. I am sure they are playing a very long stake building game, so it does not change much. However, it does give some comfort that this will be more liquid than most closely held small companies (i.e. there is a ready buyer) and there is significant support at the current share price).

[losos] 10/1/2012 15:40

Can someone explain to me how the tax on dividends works for REITS - HMRC have officially classified me as a 'non resident' so I normally collect my dividends gross but because HCFT is a REIT I am being told that they (HCFT)have to deduct 20% is that correct??? Do you guys get your HCFT dividends with 20% deducted????

[topvest] 05/1/2012 09:25

This will be "controlled" by the Kingerlee Family in 10 years from now unless the Conn family do something more radical in my view. Why would they sell now? Quite happy to hold long term and so, I suspect, are most shareholders. It's a good steady return. It' interesting, but this is one of the very few ungeared property plays on the UK market and it's at a substantial discount. Surely there is an opportunity for other ungeared property companies to be issued or with debt capped at something like 10% LTV? Real estate companies seem to be doomed by a greed for leverage, whereas reasonably good returns can be made, as here, by taking an ungeared position.

[semper vigilans] 05/1/2012 08:51

MTIOC - suppose it all depends on shareholders'CGT liabilities.

Difficult to get anywhere near the income yield elsewhere after CGT paid.

[mtioc] 01/1/2012 20:59

SV - doubt Kingerlees will let it go; certainly not at this point in the cycle.

I think the best way to think about HCFT is an attractive, un-geared, tax efficient yield with a margin of safety. Liquidity and bid/offer make it a long term type investment.

[semper vigilans] 22/12/2011 08:12

MTIOC - clever bit of analysis!

The Conns obviously agree with you.

This must one of the cleanest REITs for someone to take out, main shareholders permitting!

[topvest] 11/12/2011 17:50

Yes, absolutely. I may well buy more as well if the price dips in Q1. I've decided to hold-off on most purchases now until we hit bottom with the markets. Doom and gloom is so widespread we must be pretty close.

[mtioc] 11/12/2011 17:04

I also hold on similar v. long term basis (SIPP). Interesting recent statement.

If you take into account of £5.5m of blue chip equities and £4.4m of cash, the implied discount to the property value is considerable (50%+). The recent sale of Yeovil retail unit at c. BV suggests a healthy "margin of safety".

May buy a few more.

[topvest] 25/8/2011 21:30

Yes, very solid interims and another boost on the dividend front. On my watch list to add more if we get some silly valuations over the coming weeks. With a 6% yield and the liquidity they have this is certainly not over-priced. A steady as she goes type of investment. I've bought a couple of times and happy to hold these very long term.

[semper vigilans] 17/12/2010 11:06

Ditto my 1/10/10 post!

Most REITs are trading much closer to NAV and they tend to be highly geared than Highcroft - still room to go.

[semper vigilans] 01/10/2010 12:13

Nice move up on only 1000 share buy!

[semper vigilans] 27/8/2010 09:34

Agree with you Topfest - there should be more showing in the share price to reflect 'old-fashioned' sensible, financial control!

Now , an interest rate hike would help the cash pile to become more productive...........

[topvest] 26/8/2010 18:30

A solid set of interims here. Well positioned given their balance sheet strengh.

[topvest] 03/8/2010 19:21

Agreed - very good value. Spread is unattractive though.

[semper vigilans] 03/8/2010 10:54

Cor - a trade has gone through!

NAV must be getting towards £7 and yield 6% - share price should be higher than this!