Lxb Retail Properties Share Discussion Threads

[eeza] 06/7/2016 13:04

But this is what to expect post Brexit ref.
Buyers will be demanding reductions.

[tiltonboy] 06/7/2016 12:55

Not quite what I was expecting!

[flyfisher] 06/7/2016 12:07

It is only a setback on an asset sale worth a £4m premium, a setback of about 2.4p on the asset value. It looks to me like the buyer tried to negotiate a lower price due to brexit and LXB decided not to play ball.

[loobrush] 06/7/2016 11:57

daneswooddynamo -Well if you bought at 46p your a genius as no trades show this on level 2

[melody9999] 06/7/2016 11:52

Remember a lot of money piled in by Directors / IM per and post Brexit at 60 - 65p ???

[daneswooddynamo] 06/7/2016 11:39

of course a delay the question is for how long. Obviously the buyers tried it on with a price reduction and they were told to do one! My guess is Plan B - no wind-up within originally envisaged timescale and wait for the storm to pass...

happy to have bought at 46p though

[simonsaid1] 06/7/2016 11:36

Can anyone decode this announcement a bit? Just a delay?

[spob] 06/7/2016 11:33

slight over reaction there

[loobrush] 06/7/2016 11:29

wHOOPS a banana skin
just after I topped up-typical !

[spob] 06/7/2016 11:27

Well that was good timing

[soundbuy] 06/7/2016 11:10

Deary me..........

[daneswooddynamo] 06/7/2016 11:10

topping up here gift-horse springs to mind

[mad foetus] 06/7/2016 10:38

I've been speaking to quite a few people and there is a huge amount of foreign wealth looking to buy UK assets. the Chinese and Norwegians are lining up and I would not be surprised to see listed property cos being taken over. There are plenty of examples of propcos with debt more than covered by rent which are trading at a 30-40% discount to the last NAV. Add in the change in currency and there is a chance to buy UK commercial property at 50% of last NAV.

The problem, of course, is that it takes some time to do due diligence on a portfolio of property assets. But this looks to me that value sector in the market at the moment. Yields of 6-8% are starting to appear, and unless we get mass bankruptcies of big businesses, they are sustainable for at least the WAULT, which is often 6 years+.

[simonsaid1] 06/7/2016 10:34

Thanks Spob that seems like a very sensible answer. I wish I'd waited on reinvesting LXB div as you did. This appears to be a textbook case of how an investor can use market overreaction to their advantage when a sector is bashed without consideration of individual firms' circumstances. I suspect Simon Thompson will do another LXB update now.

[mortimer7] 06/7/2016 10:34

Chairmans statement 1st June 2016:-
"I should also comment on ultimate value. It is impossible to provide a forecast of what the end NAV in the portfolio will be as it is dependent on the outcome of a number of incomplete projects, some of which are subject to some material uncertainties which are still to be resolved, and now within a much reduced timescale. Notwithstanding those challenges, we remain confident that the end value for Shareholders will exceed the 64.18p per share referred to above by a comfortable margin."

If there has been a material change to this opinion since the referendum, I believe they should say so. In the absence of any such statement, my ongoing view is that this dip represents an opportunity.

[spob] 06/7/2016 10:21

Is this really just nervy PI's panic selling?

It's a concerted short selling exercise by hedge funds and large investment banks to target anything linked to commercial property. Their trigger was standard life. They will drive prices down to silly levels and then take profits and move on to to the next target.

Best to try and use these situations to your advantage. As the pound gets trashed UK property becomes more attractive to foreign buyers.

[mad foetus] 06/7/2016 10:15

it certainly appears to scupper the IMs hopes of a bonus!

[spob] 06/7/2016 10:07

reinvested my capital return 54p

[simonsaid1] 06/7/2016 10:05

Is this really just nervy PI's panic selling? Really didn't expect an end-dated company with pre-sale agreements already in place to take this much of a Brexit battering. I haven't read anything to make me believe the final asset value or subsequent payout will be significantly affected. Could be an extraordinary buying opportunity if this really is just sentiment. To date I've not met one of the 'straw man' panic sellers we all deride, but they must exist!

[catsick] 06/7/2016 03:27

I did not reinvest the capital return , looks like now may be the right time to do it, a few prop funds gating investors should have no impact on a company returning chunks of capital to shareholders

[soundbuy] 05/7/2016 14:58

Liquidity and sentiment......

Interesting to see if the BoD snaffle a few more.....

[eeza] 05/7/2016 13:41

However, that was all stated before Brexit became reality.

[loobrush] 05/7/2016 13:33

Director recently stated

I should also comment on ultimate value. It is impossible to provide a forecast of what the end NAV in the portfolio will be as it is dependent on the outcome of a number of incomplete projects, some of which are subject to some material uncertainties which are still to be resolved, and now within a much reduced timescale. Notwithstanding those challenges, we remain confident that the end value for Shareholders will exceed the 64.18p per share referred to above by a comfortable margin.

[loobrush] 05/7/2016 12:54

I agree looks to me like some small PI's selling today in panic,however this could be a real good time to pick up a few cheap as more news on disposals due in next couple of months.