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 Shares Traded Last Trade
  0.00 0.0% 855.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
830.00 880.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 3.50 -22.20 44
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 855.00 GBX

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Date Time Title Posts
15/6/202111:28REIT success372
15/3/201213:20REIT failure39

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Highcroft Investments Daily Update: Highcroft Investments Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker HCFT. The last closing price for Highcroft Investments was 855p.
Highcroft Investments Plc has a 4 week average price of 825p and a 12 week average price of 735p.
The 1 year high share price is 870p while the 1 year low share price is currently 595p.
There are currently 5,183,699 shares in issue and the average daily traded volume is 811 shares. The market capitalisation of Highcroft Investments Plc is £44,320,626.45.
skyship: Problem with HCFT is the poor liquidity and crazy spread.
stemis: Good to see the dividend back up to a reasonable level. 57p for the year is a record I believe and up 8.6% in 2 years (with a dip, obviously, last year due to covid). To be honest I'd be fairly happy if the dividend went up by this rate in the future. Share price needs to do some catching up. Should really be back up to 900p ish.
crumppot: I think they have nearly a 100% occupancy other than the DW fitness unit. They have managed the portfolio well. I am holding on to my investment as they look in a good position. You will see from their balance sheet that they are selling their unit let to Jewsons in Andover, they have probably done well on the price and this will release more capital to invest on top of the cash they hold. Very happy to be in here long term.
spangle93: Can we breathe out now hTTps:// The tone seems to be "it's not as bad as it could have been", and there's a special dividend off 6p on top of the final one of 30p as a sweetener
spectoacc: Not sure where Avionic sit in the structure - bearing in mind it's now IAG - but even so surely not 19% of the rent. It is the 2nd largest "warehouse" tho, at 111,000 sq ft. But I'd missed that the largest "warehouse", at 250,000 sq ft, is let to Walstead Roche, whom I'd glanced at and assumed to be a UK subsidary of Roche. They're not, they're a printer, of magazines/trade materials for the publishing industry. Unless they're printing Covid leaflets, can't imagine times are too great. Might be doing them down - going since 1962 - but the 2018 accounts showed a loss and things surely won't have improved. Still isn't 19%, but if Walstead are non-payers on 250,000 sq ft, it's going to make a hole, and partly explain why in 6 months HCFT only recovered 2 percentage points of arrears from elsewhere, with none of the usual "Paying monthly" comments. Add in say the bust gym, a bit of High St, and one or two of the nationals eg Dixons or Carpetright (& perhaps, as you say, Avionics), and might have sussed it. Would mean a few more % points possibly recoverable, but leaving a large hole. What's a giant warehouse off the A30 near St Austell in Cornwall worth on the lettings market I wonder - doesn't look to be prime logistics territory but better that up for rent than High St.
spectoacc: 22 properties, 29 tenancies. In order: Jewson, SIG, Booker, ParcelForce all seem fine. British Airways Avionic Aviation - fine on covenant, perhaps not when up for renewal. Ikea, Booker, Walstead Group, Wicks, Pets At Home, M&S Food - seem fine. Wisbech retail park - Halfords, Pets At Home, Currys/PC World, Carpetright, Dunelm - 3/5 look good, all appear to still be there. Subway, Greggs, DW, Orwell - DW assumed to be the 1% vacancy. Nuffield Health - a gym - again, good covenant but again, not a great sector to be in atm. Pity not a Nuffield hospital. Cardiff, an office let to Keolis Amey (Welsh rail). Oxford office let to the BBC. Freehold shop in Leamington Spa let to "Mint Velvet". A tearoom in Norwich. A Hotel Chocolat in Oxford now listed as Vacant. And a shop/office let to Jigsaw. Don't see many national chain culprits known to be taking advantage of the moratorium, yet rent collection only 81%? The industrial should be solid. @crumppot above says Jigsaw CVA, DW Fitness bust, yet the Oxford shop is vacant too, so how only 1%? There's a lot in the price with HCFT - there needs to be. Like RLE and others, what's easily discernible isn't in the RNS's. Anyone else with local knowledge of any of the portfolio? The big questions are the 99% & the 81% - supposedly 99% occupancy yet a fifth of that rent not coming in. Edit: "I feel we have performed well in the first half and, having collected 100% of our Q1 rent, we collected a respectable 77% of Q2 rent and 81% of Q3 rent (due to date) so far." That was in the interims, 3rd Sept. "81% of the rent invoiced and due to date for Q4 of the current financial year has been collected (Q3: 83%; Q2: 78%)." And that was yesterday's. So they've only recovered 2 percentage points of the missing Q3 19%, and 1 percentage point of the missing Q2 23%. Can't say that bodes well for recovering much of the rest, nor the latest gap? Could do with knowing breakdown of income per property - not difficult to see the likes of Carpetright choosing to withhold rent, but they're a tiny tenant among many.
semper vigilans: Whilst no company is ‘safe’ at the moment Spec, HCFT looks better than many others.
spectoacc: Back in this morning, mildly against better judgement but "everything has its price"... Will wait to see if that was HCFT's.
stemis: 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).
essentialinvestor: 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.
Highcroft Investments share price data is direct from the London Stock Exchange
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