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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Highcroft Investments Plc | 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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 587.50 | 550.00 | 625.00 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 5.61M | -7.12M | -1.3667 | -4.30 | 30.59M |
Date | Subject | Author | Discuss |
---|---|---|---|
01/5/2020 10:44 | @SteMiS - fair to say there's quite a bit in the price, good luck. | spectoacc | |
01/5/2020 09:12 | Divi/90% rule covered by this line: "76.6% decrease in earnings per share to 22.3p (2018 95.3p)" REIT's have to distribute 90% of their rental profit but not their revaluation surpluses (or profits on disposal). Not sure whether they can offset their revaluation losses against rental profits for the purpose of the 90% rule. I'm not overly impressed by the level of disclosure here but I'm not selling at the moment. Despite everything it seems a relatively safe haven, easily understood, knocking out 7%. It has affected my view of this as a long term hold though... | stemis | |
01/5/2020 07:13 | I'm out this morning - the level of detail is so poor - even though I'm taking a 15% loss, how can anyone invest based on their results. | rthak | |
01/5/2020 07:11 | Virtual AGM probably so that won’t add much. | semper vigilans | |
01/5/2020 06:55 | The lack of information on rent collections is pretty poor. Frankly rather stupid given the detail provided by everyone else in the sector. Won't be buying this one for any bounce anytime soon... | skyship | |
01/5/2020 05:53 | Surreal isn't it. Talks about low level of gearing, robustness etc, but gearing gone from 25% to 30% and that's only going to rise with next revaluation. Divi/90% rule covered by this line: "76.6% decrease in earnings per share to 22.3p (2018 95.3p)" Everything has a price, but when they talk about being unable to collect a proportion of rent on the quarter day, without telling us how much, I'm left suspicious. | spectoacc | |
30/4/2020 18:32 | Well results now out. Not really sure what to make of them. NAV - 1175p a small decrease (compared to share price of 690p). Not sure whether the valuation at 31.12.19 reflects the events of the last 4 months though... Dividend - cut to 27p to conserve cash. Although I can understand why they did this it's hard to see how the dividend for the year (48p) meets the 90% rule. Dividend payout is £2.48m, profit before revaluation loss is £4.042m. Yield at current price is 7%. Decent but not notable amongst those of other propcos. Outlook - not much at all other than challenging and some tenants will struggle to pay rents. No s*h*i*t. It would be nice to know how they are doing on collecting q1 rents but nothing. It'll be interesting to see how directors' bonuses fare considering they've cut the dividend and suffered a write down on their properties. No clues in the statement though. As to director share buying, I wouldn't hold your breath. Apart from Kingerlee, only one of the other four directors has any shares in the company, and it's not the CEO (it's the FD with £41k's worth). | stemis | |
30/4/2020 18:27 | Not bad but I’m not keen on the out of hours release. I trust employee cash bonuses, if any, will be deferred. | semper vigilans | |
29/4/2020 10:04 | It is worth remembering that 42% of shares are owned by Director David Kingerlee & his "concert party" & 22% by property investors DG & MB Conn & associated parties.The latter control the previously listed Stewart & Wight property company in which the minority shareholders were bought out a couple of years ago(at a fair price).The above have huge interest in the success of the company. I expect results will be released in due course.We more or less know the revenue for the year & I expect all rental has been collected for the the first 3 months.I think the directors are right to wait as long as possible to get best picture of future rental income prospects before considering a dividend (loan interest cover has to be considered).It is not a simple yes/no choice as being a REIT we would have to pay Corporation Tax on our profits if we did not pay. | 1tx | |
29/4/2020 08:07 | Salaries/bonuses need to be looked at - then directors should be showing a bit of commitment buying shares post results. | semper vigilans | |
28/4/2020 14:33 | Day-trade? ;) | spectoacc | |
28/4/2020 14:00 | I think the FD, Roberta Miles, is already part time. Mind you she raked in £150k from the company anyway. I mean, what does an FD for a company with only 20 properties do most of the time (especially when the company also employs a management accountant)? | stemis | |
28/4/2020 13:42 | Hmm. Too much to hope they've all taken big pay cuts & working part time? ;) | spectoacc | |
21/4/2020 11:34 | Agree with SteMIS re the final dividend. They will no doubt be making a statement re how much rent they have collected for the March quarter so far. June rents will be lower because of extended lockdown. The delay in publishing will be down to the FCA asking all companies to make qualified statements about values and future expectations. The auditors will be struggling re the new wording requirements! My guess, probably a few more days until the results come out...... | crumppot | |
21/4/2020 10:14 | I've emailed the company | stemis | |
20/4/2020 23:11 | Well as a REIT they are under an obligation to dividend at least 90% of their relevant profits each year. Those for the year end 31.12.19 will be unaffected, so they should be paying a final dividend of 35-40p. By delaying their accounts I guess they delay having to do that. Looking at their tenants, they clearly have a few that are vulnerable but quite a lot that should be fine. Even if they lose 1/4 of their rental income, they still should make 23p in H1 so no reason they can't match last years 21p dividend... | stemis | |
20/4/2020 22:19 | SteMis they clearly don't like spending money on issuing RNS's and with FCA providing air cover on releasing accounts they can afford to lie low. Clearly there not immune and weren't in bad shape but without some statement too risky. | nickrl | |
20/4/2020 21:33 | Finals were due in March and whilst it's understandable they didn't release them, it's pretty disappointing that there's been absolutely no update to the market on their current status... | stemis | |
15/4/2020 19:41 | HCFT one of the few to barely dcb, and can honestly say I still don't fancy it. | spectoacc | |
30/3/2020 07:50 | Again, an old favourite: "The people who bought after a 50% fall in 1929, went on to lose 80% of their money by 1933". I'd suggest we're some way off the 1933 lows. Stay lucky all. | spectoacc | |
29/3/2020 14:03 | Lows are usually made while newsflow continues to worsen. When there is an indication of any turn in fundamentals, share prices will often be 30/35% higher - that's in very general terms!. By no means Am I saying we've seen lows put In across markets, however think it's time to start compiling potential buy lists. In terms of this sector, looking for the lowest LTV and highest liquidity is a good place to begin. Obvs LTV's rise as valuations decrease. | essentialinvestor | |
29/3/2020 13:52 | Credit to him for the trade, and I think he closed on Tuesday, which wasn't bad at all - phenomenal 3-day bear market rally. He'll soon wish he still had the position tho, with some of his holdings (eg Chipotle). Trump may well want to end the lock-down, but the disaster in the US has barely begun I fear. Italy redux. | spectoacc | |
29/3/2020 13:49 | Bill Ackman at Pershing sees value where we are now - Stateside at least... | skyship | |
29/3/2020 13:36 | I'm with @Skyship, when the babies go out with the bathwater, you look to only pick up the cutest babies. AKA buy "very cheap", not "cheap". And fwiw, I think we're going a whole lot lower - market may well bottom before UK cases peak, but we're some way off that. Even ignoring a resurgence in autumn, the inevitable US crash, and it hitting RoTW. | spectoacc |
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