Matrix European Real Estate Share Discussion Threads

[sand dollar] 27/5/2010 14:45

Yes, too much upside, with dividends likely to be reinstated this is one to hold onto.

[johnv] 27/5/2010 14:28

no not taking up. Im impressed how this price is stable when all around panic is happening.

[sand dollar] 27/5/2010 14:26

How many of you guys are taking up the offer? I for one will not, with the offer price currently at 121p I cant see any short term gain if you want to stay fully invested in this share.

[engelo] 27/5/2010 00:02

tim: disappointed about the level of the share price at the moment: the tender should make the shares notionally more valuable. And odd they should be languishing below the 122 level which should imo act as a floor. If they were more liquid there would be an arbitrage opp.

As Sanddollar says (1816) it's all sentiment.

Sentiment is against anything European atm, and the weak euro directly affects properties in particular.

As regards the tender, I suppose that if I did manage to get a decent amount away this would indicate the IIs thought the tender wasn't offering good value. Maybe better to ignore the whole thing.

[tim00] 26/5/2010 18:28

Who knows what the uptake will be. I don't think PIs will subscribe, but IIs might. I too think there will be little/no reaction on completion, but not because the news is in the price, but rather because it's not "news" of any significance at all to short term momentum traders who seem to drive share prices nowadays.

[engelo] 26/5/2010 17:45

I'm a bit overweight here, so considering the tender offer. Advantages are no spread and dealing costs. Disadvantage is not knowing how much of the shares tendered will be accepted, so to sell a given amount need to guess and scale up.

What does anyone think the oversubscription will be?

Aware that many think these should go higher in time, but what does anyone expect the share price will do on completion of the tender process? Presumably nothing, as the tender process is already in the price.

[lol short killer] 21/5/2010 08:55

The Company has announced a Tender Offer to purchase up to 14.99 percent of its issued share capital on the following basis:

122 pence per Matrix European Real Estate Investment Trust Ltd. share tendered.


Anyone got this notice from your broker?



lol

[johnv] 19/5/2010 13:23

AXA(apt) also reported today, NAV up 3.1% last quarter.

[sand dollar] 19/5/2010 12:30

11:38 - A sharp turnaround in the UK commercial property market in the second half of 2009 helped Land Securities (LAND) swing into profit.

In the year to March, the FTSE 100-listed group posted profits of £1.06 billion, compared to a loss of £4.77 billion the previous year.

The market value of its properties jumped by 10.3%, compared to a decline of 34.2% in 2009. London property values were particularly favoured, and the group said it has an "unrivalled pipeline of potential projects" in its London portfolio.

Nevertheless, while it expects property values to rise over the next five years Land Securities warned that the path would not be smooth as the property market continues to be influenced by wider economic trends.

It has proposed a full-year dividend of 28p per share, down from the 51.7p in 2009 in lines with the guidance given during its rights issue.

[karldinnel] 14/5/2010 14:20

Well, I hope you are right sand dollar. I am yet to take any profit here and have topped up in the 120s recently, so would feel well aggrieved if this suddenly dropped fast...

[sand dollar] 14/5/2010 12:35

karl
I agree, difficult to fathom this, it could just be the current malaise in the markets. Never under estimate the effect that sentiment plays, I think we still have a way to go before the sentiment turns positive for commercial property, but when it does we are very well placed.

[geng] 13/5/2010 12:01

looks like they brought the price down just to accomodate it.

wonder how much the divi will be - even the lowest they paid was 10p - almost 10% at curent SP

[lol short killer] 13/5/2010 11:53

Someone bought £100k at 128.5p?

lol

[karldinnel] 11/5/2010 21:19

Mention in the property press probably won't do any harm either:

[hombe] 11/5/2010 15:10

what a very cool company ...

[lol short killer] 11/5/2010 14:09

what a nice trend! We will see 170p before pull back.


lol

[sand dollar] 11/5/2010 14:01

Forget the tender, forget the buy back, the only thing that's important here is the reinstatement of dividends, this is a commercial property company and the absolute number one reason to invest is for dividend yield, yes I know the day traders are more concerned with capital growth, but it's the yield that will attract the serious investors.

[lol short killer] 11/5/2010 14:01

125-135, wow, so nice!


lol

[tim00] 11/5/2010 12:48

It will be interesting to see what the takeup is. Note this is not aimed at the LBG shares, since only 15% of anyone's shares initially are open to tender. If takeup is poor, the company will need to think again about how to implement a buyback programme, or just abandon it. I think they're sensible to say they plan to resume the dividend policy next year, which suggests some confidence that the business is now suitably leveraged.

[johnv] 11/5/2010 12:37

I suppose its nice of the management to say "look we are buying up LBG shares at 122p and if anybody else would like to sell we will buy them as well but.......us directors arent selling cause we known this worth a bloody great more".

[karldinnel] 11/5/2010 11:19

Hi Bollorolo. I've been in since below 50p and topped up in the 60s, 70s and 80s, and more recently too. Still holding onto my shares, so don't you worry about the debt. You need to look at both sides of the balance sheet...

[kramch] 11/5/2010 11:17

I think tender prices tend to be relatively low as it enables large holders to dispose of shares which would otherwise depress the share price I guess (hope) this move is tied in with reducing or buying in all of LBG's holding. K

[karldinnel] 11/5/2010 11:17

I will be reading the tender offer document very closely. I don't want to find that I have to opt out otherwise I automatically give up 15% of my shares for a paltry 122p.

The City is full of nasty tricks like that...