Londonmetric Property Share Discussion Threads

[richie32] 18/11/2021 11:33

Good stuff. I expect a minimal discount as this is such a good prospect.

I hope they keep some aside in the war chest for quick wins from those opportunities that occasional come about e.g. distressed sellers.

I wondered what was meant in the RNS by "The Issue will enable the Company to...further improve the quality and granularity of its income"

Quality makes sense but "granularity"?

[prokartace] 18/11/2021 10:42

Discounts have been coming in around 3% so we may be looking at 256-257 but don't quote me on that

[clever] 18/11/2021 08:51

Yes, there has to be some sort of discount to the placing shares, at what level remain to be seen.

[bluntnib] 18/11/2021 08:31

Clever - isn't that a welcome sign of support for the placing?

[irenekent] 18/11/2021 08:30

Mobile phone users only. Outrageous. What about long term certificated holders whose world does not revolve around apps.

[clever] 18/11/2021 08:11

Share price has only dropped by a tiny fraction so far. Make it difficult to put in an offer for the placing shares.

[skyship] 18/11/2021 07:48

Great NAV performance reduces the premium to a mere 25.6%. That after yesterday's small retreat as insiders sold ahead of the placing:

Details of the Placing

Prior to launch of the Issue, the Company consulted with a significant number of its shareholders to gauge their feedback as to the terms of the Issue

"The price at which the new ordinary shares to be issued pursuant to the Placing will be determined following the closing of the accelerated bookbuild (the "Placing Price"). The issue price for the Retail Offer Shares will be the Placing Price."

[williamcooper104] 15/11/2021 07:51

That's not terrible; they will get their reversion and sub 4 becoming more common now

[skyship] 15/11/2021 07:18

WOW - certainly paying a high price in a fashionable sector:

"LondonMetric Property Plc ("LondonMetric") announces the acquisition of two logistics warehouses for GBP135.6 million in separate transactions, reflecting a blended NIY of 4.2% and a reversionary yield of 4.8%."

[skyship] 29/10/2021 09:00

Interims on 18th November. NAV likely to be North of 200p, possibly up to 205p.

A good performance expected; but does it really justify an share price of 263p - a 28% PREMIUM to a possible 205p NAV!

As usual, I don't think so...

Herewith a 1yr chart showing relative share price performance versus 5 REIT peers. The over-valuation of LMP is weighing heavy on share price performance; and the miserly 3.2% yield hardly compensates - all the others have higher yields:


free stock charts from uk.advfn.com

[richie32] 04/8/2021 12:01

Been creeping up for a while now.

A lot to be said for a slow steady increase versus a rollercoaster

[petewy] 07/7/2021 09:48

More good news
LondonMetric Property Plc has exchanged contracts on two new lettings totalling c.260,000 sq ft, each on 15 year lease terms.

[richie32] 04/6/2021 11:45

Good to see a director buying

[skyship] 27/5/2021 07:05

Well, 190.3p certainly a good result. Reduces to the premium to a "mere" 20.3%!

[skyship] 24/5/2021 08:59

Finals thursday. At 229p they again look a good short; but guess I'd better see those figures first.

With the Sept'20 NAV a mere 175.5p we should surely see a rise to a minimum of 180p for holders to keep the faith...

[skyship] 26/4/2021 14:43

Richie - OK - fair enough.

If you take a look at the Commercial Property thread (link below), you will see I've bought into a different one today. I prefer a 32% discount to a 28% premium!

[richie32] 26/4/2021 14:06

SKYSHIP Andrew Jones + the portfolio shift to retail/distribution should now bear fruit.

Hey, I could be wrong but that's my humble opinion

[skyship] 26/4/2021 13:48

Hmm - Richie - what exactly do you see good about it? Serious question.

[richie32] 26/4/2021 12:35

Bought some of these today. Looks good to me

[skyship] 20/4/2021 11:59

LMP back up to 225p - 28% NAV PREMIUM (!)...and a mere 3.73% yield on a likely 8.4p annual dividend. Decided to short it again...

[freeservice3] 23/3/2021 23:02

I could never understand why this was so high compared to warehouse big box reit

[skyship] 22/3/2021 08:07

207p --- The absurd over-valuation continuing to unravel. Stupidly closed out my last short long ago....DOH!