Kennedy Wilson Share Discussion Threads

[mad foetus] 09/1/2015 12:05

I agree. On a different issue, I know that the company was talking about buying interests in Spain and Italy but don't seem to have done so yet. I know they have substantial properties in Dublin but with Europe increasingly looking poised for QE it would be good if they could use some of the unutilised portion of the facility to buy up some assets in the Eurozone.

[anley] 09/1/2015 11:58

YES I agree but my experience tells me that you just never know when an overhang gets taken up and some good news comes out what the price will do especially in these markets.

The KWE management is on the ball and I keep topping up as and when as I can see £11 looming especially as Wellington has taken a huge % out of the market and made them one of the biggest shareholders.

[hpcg] 08/1/2015 10:51

I guess, and no more than that, there is still some selling of the October capital raise shares at 10.06? That would explain the range we are in right now.

[anley] 07/1/2015 16:49

My son knows Wellington in the USA and he tells me that they are big solid long term investors in companies they invest in. So they now hold 18% interest in KWE which prompted him to buy as well.

Hold this for a few years and become rich just on one share...........

[hpcg] 06/1/2015 16:02

Just taken some more in my SIPP. Nice gentle increases in capital values and distributions for the long term.

[mad foetus] 06/1/2015 10:20

I have enough but this looks like a good entry point.
Looks like its just you and me anley!

[anley] 06/1/2015 10:15

and these may have been mopped up by Wellington - the USA investment management company.

I also topped up at current prices.........

[anley] 23/12/2014 16:57

and the market having a 1m share seller - see last announcement on 23 Dec.

[mad foetus] 23/12/2014 11:05

The stated aim was 15% pa growth on the share price So far I would say things have gone to plan and I would expect a bit of catch up next year. As you say anley, it gets bigger and bigger - not far off £2bn of property now, borrowing at interest rates of less than half the rent income, all looking very good.

[anley] 23/12/2014 10:19

This company all of a sudden is getting bigger and bigger........they know how to put a property deal together with good gearing at these low levels of interest rates.

Well done............

[mad foetus] 16/12/2014 12:18

An update on the website: hxxp://www.kennedywilsoneuropeplc.com/phoenix.zhtml?c=252755&p=irol-newsArticle&ID=1995550

KWE has engaged builders to construct a load of flats in Dublin, their biggest building project to date.

[mad foetus] 16/12/2014 12:05

From another place, RBS selling down some of its Irish real estate loans at a big discount:


Royal Bank of Scotland Group PLC

16 December 2014

16 December 2014

Sale of a portfolio of Irish real estate loans

The Royal Bank of Scotland Group plc (RBS) announces today the agreement to sell a portfolio of Irish real estate loans to an entity controlled by Cerberus.

At completion, RBS will receive cash consideration of up to GBP1.1 billion* at current exchange rates. Completion is expected in the first quarter of 2015. The sale proceeds will be used for general corporate purposes.

The transaction, which represents RWA equivalent of cGBP1.2 billion as at 30 September 2014, is part of the continued reduction of assets in its RBS Capital Resolution division and is in line with the bank's plan to strengthen its capital position and reduce higher risk exposures.

The carrying value of the loans is cGBP1 billion, the gross assets are cGBP4.8 billion and generated a loss of GBP0.8 billion, principally impairment provisions, in the year to 31 December 2013.

- END -

For further information:



Investors Media

Richard O'Connor RBS Press Office
Head of Investor Relations [phone]
[phone]
Ulster Bank Media Relations
[phone]

* The parties have agreed a list of matters requiring remediation that affect certain of the loans sold. This list will be finalised prior to completion. A portion of the consideration equal to 30% of the value of any loans so identified will be deferred pending and subject to remediation of these matters within a period of six months following completion.

[anley] 02/12/2014 13:22

and a firm share price to go with it.............

[mad foetus] 28/11/2014 12:18

There is an updated investors presentation on the website: hxxp://www.kennedywilsoneuropeplc.com/phoenix.zhtml?c=252755&p=irol-about

Nothing too exciting there, but does reiterate the expectation that all investments will generate 15% pa.

[mad foetus] 27/11/2014 11:02

good results from Shaftesbury today. Not an identical company - no real estate companies are - but has some similarities with the London part of the KWE portfolio. My feeling is that KWE is currently around 10% below its peers, understandable perhaps given its short history but something that will change in due course, and given the number of distressed properties they have bought, the potential for a significant nav uplift can never be ignored.

[mad foetus] 19/11/2014 10:50

yes anley, it all feels a bit like jostling for position after the latest fundraising.

As far as I understand it, everything has gone to plan since the IPO and the company continues to target an all in return of 15%pa. Given the positive environment in the property markets this year, I see no reason why that shouldn't be achieved. Happy to hold for the long term here.

[anley] 19/11/2014 10:36

Two big holders mopping up blocks of shares at these current prices..........

[anley] 14/11/2014 09:53

Look at todays announcement above under NEWS and draw your own conclusions.

[mad foetus] 14/11/2014 08:38

some very big trades over the last couple of days compared to normal and hopefully normal business is now being resumed and we can move towards £11.

[mad foetus] 11/11/2014 13:10

hpcg,
I think this is where the value is going to be added:

The building is fully occupied with a weighted average unexpired lease term of 5.7 years to first break (6.7 years to expiry) and average passing rents of c. GBP47 psf.... an exciting opportunity to enter the thriving Victoria market, where Grade A office vacancies sit at only 1.5% and prime headline rents exceed GBP80 psf.

So once the leases expire and the entrance is done up, rents should near double. But as you say, 6 years out...

[hpcg] 11/11/2014 10:57

I'm not so bullish on this deal - its not exactly distressed property or property debt at a discount, nor is the seller a de-leveraging bank. However with a shortage of central London commercial office space it could be a nice earner 6 years out, unless development goes mad.

[anley] 11/11/2014 10:17

I agree MAD FOETUS but the stock market is a strange place at the moment. Nevertheless I have topped up again at 1019p and that becomes my core holding in the property section of my portfolio especially after such a tip top purchase in Victoria............where can you get a solid yield on your capital - property investments with clients such as The Daily Telegraph etc?

[mad foetus] 11/11/2014 09:28

I know this is a long term investment and all that but even so, I am surprised at how the share price hasn't bounced back to the £11+ it was before announcing the new funding. The extra £300m has been largely deployed following today's announcement and will provide further diversification of asset base and income stream. The company is doing exactly what it said it would do and so I had expected a bit of a bounce.

[citymohawk] 11/11/2014 08:40

sorry MF - Got my names mixed up.

Thanks
CM

[mad foetus] 11/11/2014 08:21

citymohawk,
Many thanks for updating the header. Much appreciated.