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INTU Intu Properties Plc

1.752
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Intu Properties Plc LSE:INTU London Ordinary Share GB0006834344 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.752 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Intu Properties Share Discussion Threads

Showing 476 to 500 of 4200 messages
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DateSubjectAuthorDiscuss
17/9/2018
16:02
Looking for an entry point here especially with the interim dividend of 4.6p due to go ex-div on the 18-Oct-2018. But question to those here, have there been any announcements of curtails to dividends and/or suspensions with current yields topping 9% against current share price.
Genuine request as couldn't find any reference in YTD news feeds. GLA

seastork
17/9/2018
15:46
I hope the shorters get fried.
cc2014
14/9/2018
16:50
hybrasil, I think maybe your "Senior Commercial Agent" friend should actually go and look in the Intu centres to see the variety of stores in the Shopping Centres. Firstly I would question that all "young people" are doing 95-100% of their shopping on line. I use Meadowhall regularly and though not now Intu owned, there is always a high proportion of young shoppers in there, not just for the stores but also for the Cinemas, bars and restaurants.

It sounds like your SCA is spinning the popular yarn about the young and using on-line. Just look at Primark, no on-line, shop packed and queues a mile long, look at Next, always busy but includes on-line. Shopping is a leisure activity and always will be and though Retail is getting a kicking at the moment, it is much, much more than just the Debenhams, John Lewis and House of Fraziers of this world and many of those smaller stores where people buy groceries, birthday cards, cheap shoes, phones etc are doing fine thank you. Obviously it's your choice where you invest but personally I'd go by my own research and feelings than some so called "expert" who's probably never visited one of their sites anyway. Intu looks value over the long term on any measure to me at the moment but obviously it's your choice what you do. Good luck anyway.

warranty
07/9/2018
07:01
Spent time discussing this company with a senior commercial agent yesterday.
He says valuations are not up to speed with events. He also told me of a large centre that was sold by its owners having profiled the buying habits across the age groups. Basically the young are doing 95-100% of their shopping online.
His view is that while some high streets and some very high profile centres will survive that intu has a lot of effectively second stream stuff that won't last the pace.
I had been about to buy here. I am off to look at land securities

hybrasil
06/9/2018
06:44
Target of £2.30, better top up then. Way oversold and due a correction have £1.80 as the short term target.
blueteam
06/9/2018
06:40
The German bank has initiated coverage of two big shopping centres operators: Capital & Regional PLC (LON:CAL) and Intu Properties PLC (LON:INTU).

Berenberg rates both stocks as ‘buy’ and has a price target of 60p for the former and a target of 230p for the latter.

The bank lists three key reasons why it sees value in the UK shopping centre market.

Firstly, shopping centres remain an integral part of the UK retail offer and not every retail offer is suited to e-commerce. “Physical stores with the right product mix in the right locations are likely to remain the primary point of sale,” Berenberg asserts.

Secondly, the current share prices of real estate investment trusts (REITs) focused on shopping centres are out of whack with asset fundamentals, Berenberg argues.

“With leverage materially lower than the equivalent period in 2006/07, it would require a 27%-35% fall in capital values or a 21%-49% reduction in net rental income to test the lowest debt covenants; we believe this is unlikely,” Berenberg stated.

Lastly, a material shopping centre valuation correction is unlikely for all but the most underinvested, poorly located or non-dominant assets.

In other words, investors that are backing REITs that have vibrant shopping centres on their books should not expect slumping valuations of the struggling centres to have too much effect on net asset values, although there will be some read-across impact, Berenberg admits.

“Although we do anticipate some capital value decline, we expect this to be materially lower than that experienced over the course of the financial crisis and partially offset by development gains,” the bank said........

hugepants
05/9/2018
17:34
Company FOR SALE.
escapetohome
05/9/2018
17:09
No data re casual dining, just a reaction to the news about all the restaurant chains that are suffering or going bust.

In fact, Eldon Square dining sector has only been open a year or so and a few of the initial operators have closed down already.

So, no data, just relying on my own eyes. I do not hold INTU anymore but was an enthusiastic owner up until a few years ago (sold at a profit) but as I was an operator in the retail sector, I am still very intersted in the sector. By the way, before any one suggests it, I was not a till or lift operator! ;-)

eipgam
05/9/2018
15:09
In terms of investing based on NAV, fair enough - that's one argument until it reconciles.

Where is the evidence on casual dining getting a kicking. Its certainly not from online ? From:


"05/09/2018 - 07:00
New figures from the NPD Group prove that casual dining is on the rise – with visits to British outlets up 7% (35 million) for the 12 months ended June 2018.

As casual dining continues to grow, it now accounts for 5% of all visits in Britain’s out-of-home (OOH) foodservice industry.

To put it into context, casual dining chains registered 34m extra visits for the 12 months to June, while the overall OOH market suffered a decline of 43 million visits – despite many high-profile brands having shut in the same period.

Over the same period, Brits spent circa £6 billion on casual dining - around 11% of the total out of home spend – with spending growing four times quicker than the total market.

NPD insights director, Dominic Allport, commented: “Casual dining restaurants remain one of the key growth stories in Britain’s OOH foodservice market, despite the high-profile closures, rescues and restructuring seen in recent months."

Do you mean specifically casual dining in shopping centres ?

In which case please point to the data - thanks.

yump
05/9/2018
14:40
INTU has made a big splash about attracting other users to their shopping centres, as they have recently done in Newcastle. Unfortunately, they have aimed at casual dining and that sector is getting an even bigger kicking than bricks and mortar retail.
eipgam
05/9/2018
12:45
Remember this is a geared play on NAV given the LTV,
it's the gearing that is killing the share price atm.

At the other end of the spectrum is GPOR, now virtually ungeared,
(offices plus retail). Even that sells on a NAV discount, but a much
smaller one.

essentialinvestor
05/9/2018
12:27
I suppose if the view of INTU is taken from a property point of view, then valuations will be the main criteria, as discounts to NAV often seem to be THE measure.

Presumably the endless online argument assumes that it represents a long term structural change, which will not stop or bottom out. However, certainly in terms of share price, it would be unusual for gloom and fear not to be overdone, as with over-optimism.

Is the current share price already assuming a revaluation ?

I note that BOWL seems pretty resilient. If INTU are 'converting' gradually into mixed centres, as they say, then I would imagine the main risk from here is one of a consumer slump - for instance if a load of prices rise with a no-deal Brexit.

yump
05/9/2018
10:40
That seems a realistic assessment... The shares are only trading at a discount to NAV if you believe the valuations attributed to the assets. And shopping centre assets are becoming more and more illiquid, I suspect.
eipgam
05/9/2018
08:14
Online may be old news but it does not mean it is in the price. When TRY's Phayre-Mudge made the following comments in their July newsletter (a must read for property investors) I took note:

- "We have been concerned for some time that the lack of transactional evidence for shopping centres investments has led to independent valuations remaining artificially elevated"

- "We continue to believe that the company’s uncovered dividend should be rebased in light of the structural headwinds facing the UK retail sector."

- "The impact of company voluntary arrangements by weak tenants, as well as estate downsizing by healthy ones, is resulting in a steady downwards grind in rental values."

belgraviaboy
05/9/2018
07:34
150 bounce?
escapetohome
04/9/2018
17:40
"competition from online"

I wonder how old that news can get - I mean it started seriously around 2002.

yump
04/9/2018
13:59
The speed at which this is falling surprises me. It seems to be accelerating.

It has become a problem stock in my portfolio

cc2014
30/8/2018
18:43
Morgan Stanley downgrades sector. "Competition from online"
cc2014
30/8/2018
07:52
just looked at this one and chart looks awful and looks like more downside . I assume it has bad fundamentals ?
arja
30/8/2018
07:12
Any idea why Reits taking a hit today? Intu -4%, Klepierre -3%, Unibail -3% etc
roulettewheel
29/8/2018
14:43
Berenberg Intu top pick in sector. Price target 230p
cc2014
26/8/2018
13:27
Next five to short are.Barrat.Taylor Wimpy.Persimmon.Berkeley.Bellway.Do it right and you could retire like me on this one.12 month window is now open.Make your losses back.
kendonagasaki
24/8/2018
15:51
Short position closed today.Still reckon it has lower to fall.Best not to be greedy.
kendonagasaki
15/8/2018
11:09
They should get the Grace Bros to move into their shopping centres then we could all sing...

Second floor:
Carpets, travel goods, and bedding, materials, soft furnishings, restaurants, and ties. Going down...

First floor:
Telephones, gents ready made suits, shirts, suits, ties, hats. Going down...

eipgam
13/8/2018
14:57
I wonder what's caused this mutt to drop 6% today. I thought Ashley taking over HOF would have helped the sector

HMSO only down 2.5%

hugepants
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