Intu Properties Share Discussion Threads

[pal44] 29/11/2018 09:38

yes agree they should sack Carney he is wrong most of the times IMHO

[5chipper] 29/11/2018 09:32

Guess Carney's warning of a 48% drop in commercial property values should there be a 'no deal Brexit' isn't helping sentiment

[tsmith2] 29/11/2018 09:26

Can they sustain paying more than net of tax yield?

[mrtenpercent] 29/11/2018 09:25

'intu therefore intends to substantially reduce the payment of dividends in the short term, starting with the 2018 final dividend, which per intu's normal financial calendar would be payable in June 2019..... The current annual dividend of 14.0 pence per share amounts to approximately £188 million per annum......The decision on the amount of the final dividend for 2018 will be taken by the Board not later than the date of the preliminary announcement of the 2018 results in early 2019.'
This has to be an income share now unless someone else can do the deal that Peel etc. couldn't finance.
They don't know themselves what the cut will be. Let's say they cut it to 10p.
10% yield = 100p sp
9% = 111p
8% = 125p
7% = 143p
At 09:23 share price is 123p. I think that's about right.
So the only reason to buy now is to benefit from short covering. If any.

(never trust a company with a silly name)

[brwo349] 29/11/2018 09:12

Looking at that chart the price was 145p before the bid approach.
There is no justifiable reason for the shares to drop to these levels.

[orinocor] 29/11/2018 08:14

bought at 117p

[yump] 29/11/2018 08:14

Nice opportunity for another bidder - or similar consortium at some point - bid withdrawals always cause a price drop - funny how that benefits the next bidder isn't it ?

[orinocor] 29/11/2018 08:13

odey has made a mint here

[hybrasil] 29/11/2018 08:13

I suppose you should never try to tech a falling knife. Bout some at t£1.21

[yump] 29/11/2018 07:53

They could pretty much cut it in half and it would still be a very healthy return.

[catcheymonkey] 29/11/2018 07:44

The dividend cut is, long-term, a good thing. 14p per year, at 150p, is over 9% dividend yield. Given the fall in the INTU SP, they're right to cut the dividend to retain more capital

[yump] 29/11/2018 07:42

Another victim of the Brexit farce ? Too much risk and uncertainty.

Perhaps the risk will be lower when the share price drops for the second time after a failed bid. Useful to any other potential bidder.

[hybrasil] 29/11/2018 07:25

But of much more concern is the dividend cut.
How low will these fall. £1.30?

[bookbroker] 29/11/2018 06:59

Fantastic!!!!

[miti 1000] 29/11/2018 06:45

No takeover !

[cc2014] 28/11/2018 16:37

Same pattern. 194.2 at 16:29:59. Closes at 192.6

[cc2014] 28/11/2018 14:56

The price spent all day yesterday trying to nudge up and then someone whacked it down in the closing auction.

Today it's nudging up again bit by bit, but the price move still isn't enough to make me 100% sure this bid is coming.

Only a couple of days before the next deadline...

[cc2014] 26/11/2018 10:51

As if he's going to close his profitable stores with redundancy costs etc. just because INTU won't give him a rent free period on the HoF stores he's bought out of receivership.

I note the share price is being walked up again today just like it was the day it rose about 10 points recently.

It seems to have hit sellers just above 190. I'm staying in.

[eipgam] 25/11/2018 17:07

ST today..

Mike Ashley to close all INTU stores as soon as break clauses kick in. In retaliation for not reducing HoF rents.

[cc2014] 23/11/2018 10:08

And now the share price is back to 192 which still kind of feels too low but at least in some some sort of vaguely reasonable area.

Last night's close at 188.5 was just plain stupid.

[warranty] 22/11/2018 19:57

Personally I hope they don't complete the offer because for me it massively undervalues INTU. I accept that Retails having a grim time at the moment but surely High Street closures will only send more customers to the Shopping Centres? Maybe I'm missing something but this looks like a poor deal for most shareholders.

[catcheymonkey] 22/11/2018 16:46

But the consortium have done their DD and the only remaining issue is raising the finance. Would they have got this far if this were in doubt?

The price is 2/3 of the way from the c. 150 before the offer to the 210 being offered. So the market is pricing it in 2:1 that the offer will go through. And today's price move implies it is thought less likely than it was yesterday. But if the only issue is the finance, surely that just got easier to obtain if the offer price is going to be at the lower of the possible range.

[profitaker] 22/11/2018 16:41

CM

"Can someone explain why people are selling this today?"

Because there is no certainty that an offer will be made. It's a high probability at the moment.