The Local Shopping Reit Share Discussion Threads

[badtime] 17/10/2014 14:02

I bought a few more at the same price ..so held up well despite market weakness...but no more!!

[redhill9] 17/10/2014 14:00

Coincidence or otherwise of two RNS announcements on same day?

I already hold a lot of LSR but have just added 10,000 at 35.73p which could prove to be a bargain if further property sales are in progress.

[badtime] 17/10/2014 13:25

Little bit surprised there isent more buying on the bak of tht rns

[gfrae] 17/10/2014 12:24

Allsop's don't appear to be offering anything from LSR.

[badtime] 17/10/2014 12:06

Has anyone seen the press comment?

[badtime] 17/10/2014 12:02

For jump see rns

[skinny] 17/10/2014 07:26

The Local Shopping REIT plc ("the Company") announces that its Chairman, Grahame Whateley has left the Company with immediate effect. The Company's senior independent non-executive director, Stephen East, has replaced Mr Whateley as Chairman. Nicholas Vetch is now the Company's senior independent director.

Mr Whateley was key to the establishment of The Local Shopping REIT and the Board thanks him for his contribution since the Company's flotation in 2007.

[badtime] 16/10/2014 20:55

Held up well despite the market and some selling

[skyship] 30/9/2014 14:17

Doh - thnx Skinny - amended to big figure 3!

[skinny] 30/9/2014 14:16

24.25p - now that was a good price! :-)

[skyship] 30/9/2014 14:12

Took another 20k @ 34.25p yesterday - so pretty well fully reloaded!

[badtime] 29/9/2014 10:10

took a few more..not quite as low as u chaps...but happy enough

[skyship] 29/9/2014 09:57

free stock charts from uk.advfn.com

[garbetklb] 29/9/2014 09:29

Skyship
When I went back for a few more, quoted 34.25, so guess I'll just have to be patient.....
Garbetklb

[skyship] 29/9/2014 09:18

Garbetklb - also in there this morning having missed the last minutes of trade on Friday.

Bt 20k @ 34.33p & (like you) 20k @ 33.1p!

So that's 60k @ 34.3p average - well pleased with that.

I remain a buyer...

[garbetklb] 29/9/2014 08:28

Very happy to have bought an initial 20,000 at 33.10 - bit surprised to have achieved that price.

Will keep an eye on them with intention to build the stake back up again.

[badtime] 26/9/2014 18:53

Nice markdown

[badtime] 24/9/2014 20:37

i too have bought back a few..may add...may not

[redhill9] 24/9/2014 18:02

Welcome back Skyship!

[skyship] 24/9/2014 15:07

In common with others here I've been pondering on the right level to buy back into LSR.

I would be very happy to buy back at the 33p level suggested by Tilts a few weeks ago; however I view that level rather unlikely.

So, I've decided to trickle in on the fall - starting with 20k @ 35.38p yesterday. Now looking for 35p...

I base the investment logic on an 11.94%GRY at 35.6p (inc. SD) to a liquidation value of 46p by 31/12/16.

Of course matters could come to a head sooner should New Solera warehouse their 29% stake onto a bidder, in which case something in the region of 40p-42p may be seen sooner rather than later. However it still concerns me that any bidder would surely have been more interested before the Project Minard sale; so a bid unlikely perhaps.

[orinocor] 02/9/2014 16:03

anyone looked at ARTL? Its missed the rally in property stocks

[skyship] 02/9/2014 14:42

35.85p - a good re-entry point - 9% off last week's peak.

[redhill9] 02/9/2014 12:45

Skyship, many thanks for reply. I understand and accept your point about the costs of a bid, and recognise that implicitly LSR is probably not big enough to warrant it.

However, looking at it from another perspective, it seems obvious that Solera believe there is still value to be accrued in LSR (otherwise why continue to buy up to 29.99% after the sale of the properties?) and it is not unreasonable to conclude that they are close to LSR management, and have a fair idea what is happening and what is to come.

If the current NAV is around 45p and while we wait for liquidation it is growing at around, say, 4% p.a. (ignoring capital movements) the current share price of 36p is quite attractive. I sold some of my holding when the share price spiked to 39p on 24 August and some more at 38.15p soon after but bought about half back yesterday at 35.85p.

A potential uplift of maybe 8p or 9p (say, 25%) plus underlying growth prior to disposal with the prospect of liquidation within 12 to 18 months (or less?) looks worth holding to me. And the knowledge that Solera have such a sizeable holding when they must know what's happening within LSR far more than we do is encouraging - I can't believe they are holding expecting an annualised return less than double figures %.

We'll see, but having thought about it I'm happy to hold LSR for now at least.
Redhill

[skyship] 01/9/2014 14:22

redhill

# The logic still apples - if they were to go to the not inconsiderable expense of a bid, they would have done so before Project Minard

# Post Project Minard it looks to me like the continuation of their investment policy - simply that and no more. So they have to stop at 29.99%.

[redhill9] 01/9/2014 11:18

Skyship, sorry to question your logic but weren't Solera still buying after the recent sale had been recognised in the sp? If they were happy to buy more at that stage, why wouldn't they want the whole lot?

redhill