Invista Share Discussion Threads

[chopshs] 03/7/2008 14:06

Fair comment nickcduk. I didn't want to raise anybody's expectations too far. I reckon a discount of circa 50% would be fair in today's market (compared to others in the sector).

[nickcduk] 03/7/2008 12:41

I picked a few up as well. A 20 million buyback should hopefully clear out any weak hands. Gearing is a lot lower as well now and therefore the shares should trade on a discount similar to other trusts with similar gearing. That would put the shares above 50p.

[chopshs] 03/7/2008 12:19

Today's announcement is very encouraging imo and I've just bought a few. Looks like they're prepared to let Plantation Place go which I wasn't expecting. Risks appear to be significantly reduced and I hope to see a bounce to 50p

[chopshs] 01/5/2008 17:51

I think you will find the divi is uncovered (as with most others in this sector). The high divi's are only sustainable long term if asset values rise. At present IFD has a cash cushion which it can use to pay the divi but this is reducing the NAV. I agree with Kenny that this is the second highest risk IPT (after IPI). I think it's bounced last couple of days because fall in NAV yesterday was not as bad as many will have expected. My advice is be careful and DYOR.

[isa23] 30/4/2008 16:01

Just to clarify things, IFD is not a REIT. It's an off-shore property investment trust beyond the scope of HRMC.

[salpara111] 30/4/2008 15:53

Clearly some individuals dont understand what a REIT is!
In order to qualify with HRMC as a REIT you must distribute 90% of your income as dividends so unless there is a dramatic reduciton in occupancy rates and a commensurate reduction in income, the dividend MUST BE MAINTAINED.
I am not saying that there is no possibility of reductions in the future but they can only come as income reduces. IFD have a stable balance sheet with a pretty good and stable cost of capital for the next 3 year so there are no real risks there at present.

[isa23] 30/4/2008 12:07

I'm so glad I didn't act on your 'prediction'!! Poor old chaps who sold because of rumors on this thread!!

[kenny] 16/4/2008 11:44

I predict that IFD will have to cut dividends substantially in order to satisfy the banks and not break covenants.

This may prove to be the second UK listed REIT to get into serious financial difficulty.

AVOID.

[rochdale] 10/4/2008 10:42

i am still holding cerrito along with MAY

think the worm will turn and the yields are adequate compensation in the mid term

[cerrito] 04/4/2008 10:52

Very nearly bought these late jan/early feb in upper 70's and had not followed them for a few weeks then saw their price today.
I see that there has been no news in the last 5/6 weeks
Anyone have any views????

[rochdale] 27/11/2007 19:17

possibly the most thorough and generally readable results I have ever read

a pleasure

that does not though stop me reading between the lines and see that growth potential is very limited in the current economic climate

good long term hold for yield purposes with them suggesting that income will allow them to increase divi cover, also like the plan to buy back shares as and when which should underpin the price

i cannot though see the share price getting back to earlier levels for a while so will hold what i have for the dividend and look to top up on any further weaknesses in the share price brought about by further economic downturn and if the "credit crunch" begins to bite harder

I think they are a well managed company and the current malaise is down to broader economic issues not a reflection on bad decision making; therefore I have every confidence that when the economy turns they are well placed to take advantage

[chopshs] 27/11/2007 09:57

According to something I read on Citywire a few days ago, IPI have launched a fire sale of £100m of property. This will be to prevent them breaching banking covenants. Agree that the discount looks very tempting but not sure they are a buy at present. Depends on your risk profile. If you are cautious you would wait for the result of the fire sale.

[isa23] 26/11/2007 13:42

I have bought loads of IPI during the last few days. Even in a worst case scenario of a 20% drop in UK value & 10% in Euro, it still leaves a 59.9p NAV. The accounts don't look good, yes. BUT some of the costs are one-off due to the purchase of euro properties & equity issue/higher divi. A screeming buy IMHO

[davebowler] 26/11/2007 13:25

Any thoughts on IPI-25% in Euro Property and on a shocking 50% discount.

[sscrabble] 26/11/2007 13:12

I have bought today - just cannot believe these are not a bargain after that set of results

[rochdale] 13/11/2007 14:16

got to be a long term buy and hold - the yield gets bigger the more it falls - have been accumulating

[tp100] 31/10/2007 12:23

137.3p, hoping for better. Current discount is 32% at 93p.

[isa23] 30/10/2007 15:26

Agreed. I'm also in ipi / iret / alph. Excellent long term buy, though short term NAV may go as low as 110- 120p. The good thing about UK commercial property which the market seems to ignore is upwards-only rents.

[tp100] 30/10/2007 12:10

Buying in sub £1 a share. Note from Caz yesterday supporting my view. Trading at 32% discount to NAV but as 50% weighting in London Property the NAV decrease due to be announced tomorrow should not be too damaging.

Current NAV is 148p - I reckon if we see NAV above 140p tomorrow then the shares will rally to 110p in the short term. A NAV at 135p then perhaps the bears were right to be cautious. However, with a yield of over 7% it looks a better long term investment than a comparable junk bond.

[flateric] 12/10/2007 14:07

Anyone still look at this one. I reckon we could finally be coming off the bottom...

Snapshot just now:

[chrisod] 12/12/2006 11:23

any insight lately?

[hectorp] 28/11/2004 13:19

Today SCotland on Sunday (SoS) business section, reports that
a survey suggests the commercial letting sector will be booming in 2005.
( I am still not certain myself as I beleive the UK could start failing to grow in 05)

[hectorp] 27/11/2004 19:18

Trader 2 do you want an honest answer?

- I'm not sure I'd go along with that mission statement any more.
- whats your view.

[trader2] 26/11/2004 09:42

Any comment on today's results and the premium to NAV of about 8.5%??

Is this extract from the Outlook statement what you believe...?

"We are now moving into a market based more closely on the
fundamentals of growing tenant demand and constrained supply conditions,
particularly in the office sector in London and the South East. This should
create the conditions for increased rental growth, and the Company's strategy
is, accordingly, to acquire properties with the objective of enhancing their
potential through active asset management initiatives."