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 Shares Traded Last Trade
  -1.34p -1.53% 86.02p 3,541,281 16:35:11
Bid Price Offer Price High Price Low Price Open Price
85.32p 85.60p 87.94p 85.04p 86.32p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 581.10 -1,179.40 -84.30 1,166.1

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Date Time Title Posts
16/6/201921:40Intu Properties PLC910

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Intu Properties Daily Update: Intu Properties Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker INTU. The last closing price for Intu Properties was 87.36p.
Intu Properties Plc has a 4 week average price of 84.36p and a 12 week average price of 84.36p.
The 1 year high share price is 204p while the 1 year low share price is currently 84.36p.
There are currently 1,355,670,243 shares in issue and the average daily traded volume is 2,061,979 shares. The market capitalisation of Intu Properties Plc is £1,166,147,543.03.
cc2014: Probably a decent outcome for INTU. They get to keep the stores open, collect some rent whilst making it clear to their other tenants they have been outvoted. Still no idea how the share price will react if at all!
cc2014: CVA Approved. No idea what it will do to the share price! The CVA forces store closures and reduced rents of 25% to 50% across 194 of its 566 UK and Irish stores over a three-year period. Lady Tina Green, Sir Philip Green's wife and Arcadia's majority shareholder, has agreed to invest £50m of equity into the group, in addition to the £50m of funding already provided in March.
cc2014: Last week it was INTU against the rest with all the other big players publically saying they would support the deal. I suspect it will be the same this week. But that's just a guess. I see Arcadia have offered 20% of the company as part of the deal but only if they sell it. I think if they moved that to 20% regardless that might swing it, but I sense that part of the deal is just posturing. What's 20% of something losing money anyway. I'm not sure what it will do for the share price but I think it's time to tell Philip Green to go away.
yump: If anyone wants to buy INTU cheap, or parts of it etc., a sure way to get what you want is to arrange to hit the share price in various ways. Once you've exhausted all the normal market buyers and funds that think there's value or a bounce coming, there's a permanently depressed share price, which gives plenty of time to plot. Allegedly.
yump: TRCML I don't recall seeing the INTU share price 'riding high' any time recently, but I kind of get some of your points, although the idea that the board should have done x or y previously, is always something that if it were done at the time would also produce a load of criticism. Funny how reducing dividends is demanded by many and criticised by many, even when its up at a daft level. Rock and hard place really.
brwo349: It's crazy when you think about it. We know these shares are chronically undervalued because of the offer HMSO turned down. They turned down an offer that valued their shares at and 18% discount to NAV. The INTU share price would be well over 300p at an 18% discount.
cc2014: I think this could be a turning point as the company has now stated in this update and in the last one that whilst trading conditions aren't great out there for some retailers it isn't affecting the ability of HMSO to put rents up and replace the tenants. OK, they have some churn and vacant space but even allowing for that the overall revenue is going up. I see both HMSO and INTU share price have responded positively this morning suggesting the deal now seems a little more likely to go through. Only a little more likely though as there is a considerable gap if you do the maths for the merger premia. Someone continues to sell INTU off this morning. Yesterday the fall was driven by one large player selling stock throughout the day. Today again we have one large party selling although the trades are being placed in a different style. Hard to say yet whether it will go on all day or whether it is just someone flipping for a point or two from shares they bought yesterday afternoon.
boystown: FT today... Hammerson, the shopping mall owner, seems to believe in the proverb “more haste less speed”. Just not in that exact order. It was somewhat less than speedy in telling shareholders about a proposed offer from mall rival Klépierre. But it has shown great haste in arranging a first quarter trading update amid its own bid for rival Intu. In fact, Hammerson took 11 days to tell investors of last month’s takeover proposal from Klépierre at 615p a share - a premium of 40 per cent to its undisturbed share price, which it had already rejected. But it appears to have given only a few days’ notice of today’s suddenly-arranged first quarter update - an announcement it has never before felt a need to make. Could it be that Hammerson now feels a need to tell shareholders a bit more about its reasons for pressing on with the Intu deal and ignoring Klépierre? Because it knows Klépierre has wasted no time in telling those same shareholders why it shouldn’t? Judging by this morning’s update, yes and no. Hammerson has made almost no explicit reference to either its Intu deal or the Klépierre approach - they are mentioned only three times - but it has gone out of its way to emphasise the strength and value of its own business.  In particular, without mentioning Klépierre, it has highlighted the difference between the French group’s possible 615p offer and its own latest net asset per value per share, of 790p at 31 March 2018 - a 1.8 per cent increase in that quarter alone. Hammerson has also noted “strong leasing momentum” across UK, France and Ireland following record activity in 2017. Some £7m of group leases were signed in the period, significantly up on Q1 2017, despite widely reported problems at retailers such as Toys R Us and New Look. Growth in rental values was achieved across all segments of the portfolio. Net debt of £3.4bn also meant the loan to value ratio fell by 100 basis points to 35 per cent. And shareholders were reassured that Hammerson remains on track to deliver £500m of property disposals this year, allowing it to recycle capital. It had completed £92m of those disposals in the quarter. So the ball is now very much in KlépierreR17;s (sixth floor food) court. Hammerson suggests it should either go shopping - or shut up shop. Pointedly, the UK group said: “While Klépierre's position remains unclear, the board of Hammerson does not intend to finalise shareholder documents in relation to the proposed acquisition of intu. The “put up or shut up” deadline for Klépierre is 16 April 2018.”  Klepierre, however, suggests its offer is about diversification and asset quality. It argues that if the Hammerson-Intu deal is allowed to go ahead, then the overall Hammerson property portfolio becomes lower quality, and goes from 57 per cent UK based to 75 per cent. That, it suggests makes a route back to a 615p share price much more difficult, irrespective of portfolio net asset value.
cc2014: I read it like this. If the Klepierre bid is successful, INTU is left floundering. The current share price of HMSO would seem to indicate an offer is far from certain. If the bid is successful and I think it would require 680p, it puts support under the sector and I'm not sure how much upside there is in INTU but I don't think it would fall in this scenario from the current share price. If the Klepierre bid is unsuccessful I agree HMSO would fall back, I think to more like 480p, giving HMSO a value of 228p. However, INTU was trading at about a 10p discount to the HMSO share price before the Klepierre bid so 218p. (no idea how the HMSO dividend affects this which has happened in the meantime). There appears to a remote possibility stated in the press HMSO shareholders would not vote for the INTU/HMSO merger but I think this is the press trying to make news out of nothing. It's probably enough thought to reduce the 218p above to where we are now. So, in summary I'd agree, possibly a 5% downside vs. a much higher upside and collect a 7% dividend in the meantime.
orinocor: Most of the property stocks plummetted on the Brexit vote then recovered. Some more than others. However the Intu share price is now just 215p whereas it only went to 260p after the Brexit vote. Is the outlook for shopping centres really this bad? Or are Intus' shopping centres not the high end ones that would survive and prosper. Rising interest rates won't help this either but I think that is overblown since I cannot see them rising much. I'm not sure if there is a great opportunity here or if this is a trap. Views welcome.
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