Intu Properties Share Discussion Threads

[cc2014] 14/11/2017 08:07

Not sure what is going on here as I can't find any news yet. Pulled back a bit now but even went sub 190 for a while.

The way it's coming back might even suggest there is no news just a load of stops getting taken out.

Clearly I have called this wrong

[cc2014] 07/11/2017 13:41

Well regrettably I've been short term trading this and I've closed now as it's not been good to me. It has for the moment found a few buyers but there's a very aggressive sell bot program running which will continue all day and will put a cap on any significant rise.

Kept my long term holding. I'm not bothered about the day to day movements for that.

[andyj] 07/11/2017 12:52

Was always going to be a difficult day for Intu holders after the retail figures and those results seem a distant memory now, but where will support come in?

[cc2014] 03/11/2017 16:50

I don't get it. Another day of strong against the flow of the economic picture.

Service sector data really good, which bodes well for spending. Pound really weak which is good for repatriated profits from Spain.

Broker positions since results.

Liberium upgrade to hold with unchanged price target of 230.
Numis maintains sell but reduces price target to 190 from 247
Deutsche maintains hold with price target of 220

Clearly they see something I don't. At 190p that would be a dividend of 7.4%, which is at the kind of level that Numis are suggesting it's not sustainable.

[cc2014] 02/11/2017 13:43

Depends on you viewpoint.

Some suggest shopping centres are a thing of the past and will slowly disappear due to on-line sales and therefore you end up with an asset on which you can't afford the finance due to lower rental values. The footfall figures do not support this view.

Additionally those in the doom and gloom of Brexit suggest consumer spending will collapse at some point once the wheels come off.

Numis have a new price target today of 190 from previous 230. Clearly they read something into the Q3 update I do not, but there again I don't rate Numis.

I'm not sure what's different today than 3-6 months ago as that's the time period in which the share price has got silly.

I'm not really bothered. I'll collect my dividends and hope for a buy-out. At 223p, a bid at a price of 300p would seem not unreasonable.

[josephrobert] 02/11/2017 12:41

Looking at the basics I'm at a loss why this is trading at these levels. NAV is way, way above these levels, but the business is stabilised, and mgt are predicting like for like growth in the medium term. It's that simple to me. I don't care about this level of debt if the company is growing sufficiently. I surmise that the NAV discount will close when sufficient like for like growth materialises. I can't see NAV weakening by any noticeable degree. Any thoughts?

[cc2014] 02/11/2017 10:15

Up 5% which is very nice. Hopefully we will get some broker upgrades over the next couple of days.

Lots of sellers still out there and since 9 o'clock it's slowly drifting down.

it will be interesting to see if John Whittaker buys any now we are out of the closed period.

[blueteam] 01/11/2017 16:12

yes at this rate will be bought out by the end of year. Topped up on that dip.

[cc2014] 01/11/2017 10:31

Whittaker has 27.2%
Coronation 19.1%

Total 46.3%.

Coronation buying them so fast they must be going through off-market/through dark pools/matched bargains.

Still the sellers are out though. let's see what happens as the day progresses

[cc2014] 01/11/2017 10:15

Bought a few more this morning at 215.2. Should have bought them yesterday when they were cheaper but I was really hoping for a retrace to 212 which I don't think will happen now as too much buying from Coronation. Happy to buy more if it does go there.

RNS from Coronation again this morning. Between them and John Whittacker (?) they have over 40% now. I'll check the exact details later.

Trading update tomorrow and I wanted more before then.

[belgraviaboy] 29/10/2017 14:02

Yield is only a function of the rents achieved.

How many retailers are reporting being able to renegotiate lease terms more favourably? Many, including the likes of Next.

If rents fall, so will the property value (and NAV).

However, I can see some support around the £2 level if the overall market holds.

[eipgam] 29/10/2017 13:32

Article in ST Business/markets section talking up HMSO and the value of their shopping centres. Also reports that they are indicating 6-8% divi

[andyj] 29/10/2017 10:04

True, but it is stretched in the right direction. I am more content buying a 6% yield at a discount than the rush to buy the same yield at a premium, as with the infrastructure funds.

[belgraviaboy] 28/10/2017 08:49

Stretched rubber bands can also snap - don't always assume that the price will close the discount. A fall in NAV will achieve the same thing....

[andyj] 28/10/2017 01:07

I think the price is at such a huge discount to NAV that it's like a stretched rubber band.

[eipgam] 27/10/2017 14:10

This won't help sentiment. BBC.co.uk

JC Penney shares plunged 24% after the US store chain slashed its 2017 profit and comparable sales forecasts as it sold stagnant inventory at heavy discounts ahead of a holiday-season refresh.

Penney, like Macy's and Kohl's, has been struggling with declining demand for apparel, the mainstay of department stores, due to tough competition from off-price retailers as well as Amazon.com.

Penney's response has been to lower its dependence on clothing by expanding in other categories such as toys and white goods.

Macy's dropped 5.5% and Kohl's nearly 3%.

[blueteam] 27/10/2017 10:10

yes some large stakes building up, just topped up. Good divi as well.

[orinocor] 27/10/2017 07:19

And we have a buyer!

Coronation Asset Management (Pty) Ltd

Resulting situation on the date on which threshold was crossed or reached 18.41%
Position of previous notification 17.05%

[orinocor] 26/10/2017 09:22

Still falling. Is there anything to indicate the dividend may be under threat?

Deutsche has the lowest price target of 220p.

[andyj] 26/10/2017 03:39

A rare piece of honesty on these boards. I bought in at 2.44 and am continuing to resist the temptation to buy more, but I intend to.

[cc2014] 25/10/2017 16:52

My entries are 260,250,225,219 so this isn't going great for me at the moment. However, I've never met anyone yet who can perfectly catch the bottom on a regular basis.

What I do know as that this is falling on strong volume and falling in a way that the rest of the sector isn't.

Over the last couple of weeks BLND,LAND and DLN have been pretty stable. HMSO is struggling quite badly now but doesn't have the same level of dividends to support the price as the others (but only by a bit)

The selling pattern is similar every day with automated bot programs trying to shift large volumes on INTU, set against one large buyer who comes in for round about a million shares every time it drops a couple of pence.

I'm not really bothered. The dividend is sustainable and is now 6.6% so I'll add somewhere if it falls some more.

[blueteam] 25/10/2017 15:15

Really, 60% in survey like to try clothes in shops rather than online and there is a reversal of online clothes shopping in last report. We will see in the near future.

[hybrasil] 25/10/2017 15:08

What is this share price saying?
Are shopping centres finished?
Will people simply stay at home and shop online?
I asked my daughter in law. She tells me she buys all her clothes on line and never goes to a physical shop.
If she is replicated then what does the future hold?

A rather dull society methinks

[yump] 25/10/2017 14:47

Its like its pricing in a big consumer spending slowdown.