Londonmetric Property Share Discussion Threads

[skyship] 30/12/2020 15:38

Thnx LMP - taken the turn...now down to 235p...

[skyship] 29/12/2020 09:24

Having receded to 220p since my last; heyho - here we go again - up to 242p for a 37% PREMIUM & a lowly 3.5% Yield. Such an absurd over-valuation. Gone short...

[skyship] 28/11/2020 09:30

TRY Interim statement shows they reduce their LMP stake on valuation grounds:
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Within the logistics space we took substantial profits in LondonMetric, recycling into Argan in France, Montea and VGP in Belgium and VIB Vermoegen in Germany. The sales in LondonMetric were valuation based and we continue to have a significant holding and full confidence in management. Although London office exposure fell, we added to German cities through Aroundtown and CLS Holdings.

[skyship] 20/11/2020 13:59

Sorry Pete - I wish you well with these; however with the low yield and a seeming 240p cap on the sp, surely you could now be doing better elsewhere.

[skyship] 20/11/2020 12:54

Happy to again take a few pennies shorting this grossly overvalued REIT - under 4% yield & 35% NAV premium. Totally daft!

[petewy] 20/11/2020 10:37

Healthy half year report divi up .2p every little helpd

[skyship] 10/11/2020 16:36

Well, I have to confess I closed my short @ 232p just ahead of Monday's blast. Saw them up above 240p & thought it was a good close out. Now back down to 223p whereas all other propcos without exception in very healthy positive territory; and certainly happy with that!

[petewy] 10/11/2020 14:06

Good forecast SKY. Today dropped to 224p.I bought in a while back so my divi is 5%

[skyship] 05/11/2020 13:26

Once again these are looking way too expensive v. all their peers - a 35% NAV premium, yes A 35% NAV PREMIUM, is an absurd over-valuation. A great short @ 232p IMO...

[energeticbacker] 09/10/2020 10:37

What are the growth opportunities for warehouse and logistics companies? Investor’s Champion has taken a look at a number of companies including London Metric. #CLG #SGRO #BBOX #WHR

[skyship] 03/8/2020 08:59

Hmm - 228p - think I should change the title of the Header to:

"An over-valued REIT providing a cr#p yield"

[grahamburn] 07/7/2020 20:41

Not exactly stretching as the current price is above that.

[williamcooper104] 18/6/2020 10:06

Eg Great Portland and Derwent have for most of the land 20 years traded on premiums to NAV of 15-30 percent Red Book NAV does not capture future asset management and development gains

[williamcooper104] 18/6/2020 10:04

There's better shorts LondonMet have one of the best management teams in the industry Overvalued reits have a cost of capital arbitrage over private markets so they can accertivrly raise equity to acquire assets - so you could be waiting a long time for the valuation to correct

[aylingd] 18/6/2020 09:59

Skyship, you may get another chance as this seems to be defying gravity. Quite risky to short something in such an obvious up-trend, no advice intended but might be worth waiting for some evidence of a reversal.

D.

[skyship] 11/6/2020 07:22

Have been trying to find a spread-betting operation that would accept a non-UK resident client. Found one in Accendo; but also sounds as though a CFD a/c would be a better vehicle for shorting these.

Unfortunately they turned down from 220p just as I found them, so missed the top. They are still absurdly over-priced; but may be I will study CFD trading a little first...

[rambutan2] 11/6/2020 04:13

Webcast available for the always interesting presentation by Mr Jones:

[skyship] 04/2/2020 10:03

Losos - the November Interims show the EPRA NAV flat at 174.9p. At today's 227p the premium is still a staggering 23%.

Sp carving out a big top formation and drifting down - headed toward 200p IMO...though would still be too high even at that level.

[losos] 02/2/2020 14:39

SKYSHIP -"absurdly over-valued on a 24% PREMIUM"

I got a slightly different figure but I'm not sure which figures to use.

In the accounts there's several figures for NAV depending on how debt is treated (At PAR, at fair value etc) Not being an accountant I'm not sure what most people use.

[skyship] 01/1/2020 11:22

Indeed, and at a discount to book; yet the Sp rises a few pence. I just don't understand the idiocy of the valuation here!
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20 December 2019:

LONDONMETRIC SELLS FOUR DISTRIBUTION ASSETS FOR GBP145.3 MILLION; FURTHER REDUCING ITS MEGA BOX EXPOSURE

The total consideration reflects a 2.6% discount to 30 September book value.

[petewy] 20/12/2019 08:36

Selling four properties and warehouses at that?

[skyship] 15/12/2019 09:30

No, it hasn't, but it is absurdly over-valued on a 24% PREMIUM (!) & only a 3.7% yield.

[petewy] 11/12/2019 19:42

Nasty downturn but LMP hasn't a huge retail interest

[petewy] 31/5/2019 17:09

Londonmetric Property (LON:LMP) had its price target raised by analysts at Royal Bank of Canada from GBX £2.05 to GBX £2.15.