Matrix European Real Estate Share Discussion Threads

[karldinnel] 01/9/2010 13:09

Looks like you were right sand dollar. Share price drifting further as a few more sell out...

I suppose we won't get any momentum here now till November when the IMS comes out...

[karldinnel] 30/8/2010 17:44

Ah... I see. Okay sand dollar, I retain my respect for you.

Seriously, though, we've seen that the company is prepared to buy back shares at the 120p level and the dividend represents at least a 7% yield at the current share price, so I am not too concerned about the recent share price movement.

Happy to just sit and wait until the market wakes up to the real value here...

[sand dollar] 30/8/2010 15:07

You all make good points, but not all shareholders act on key dates, there will be selling for some time after the ex-div date,and we know this moves on pretty small sells. My point was simply that most of the people holding on for the divi have probably now sold.

[asmodeus] 29/8/2010 08:54

Yes, of course.

[karldinnel] 27/8/2010 20:47

Yes, but - as you must know asmodeus - a slight drop connected to the dividend payment would have happened on 28 July, when MERE went ex-div. That's because if you held the shares until that date you would qualify for the 4p dividend, but if you bought shares on that date those shares would not qualify...

[asmodeus] 27/8/2010 20:38

Well - he does say "share price drop to be expected" ?

[karldinnel] 27/8/2010 19:30

Oh dear. I had some respect for sand dollar until that post... Surely he knows about ex-div dates!!

[zangdook] 27/8/2010 19:24

sand dollar - 27 Aug'10 - 15:09 - 1926 of 1926

share price drop to be expected.
--------------

Why? xd for 4p on 28 July, share price falls a bit at the time, then fairly steady until mid August and then gradually declines by ~8p more. I'm a little disconcerted - I thought the dividends would provide a bit of support around 120.

[sand dollar] 27/8/2010 15:09

Dividend payment into my account today, it's not that long ago that I thought this would never happen, share price drop to be expected. Onwards and upwards from here?

[tim00] 27/8/2010 13:45

sand dollar, I'll be around to hear your tale, if not necessarily a MERE shareholder at that time! I'm not keen on property at the moment for capital gains, but the MERE dividend looks well covered so is indeed better than a savings accounts etc.

[johnv] 27/8/2010 13:25

Barclays hasnt paid yet but my misses isa with hargreves has been paid.

[karldinnel] 27/8/2010 13:19

No, my sharedealing account hasn't accredited the dividend to me yet. I suppose they need to hold on to it for a few days to get some interest (not that interest rates these days are particularly high...)

[geng] 27/8/2010 12:24

Nick - was that into a Nominee account, or cheque?

I'm with Barclays and it's not in the account yet

[sand dollar] 27/8/2010 11:00

Can't blame him for that, I am still in, but I have a particular reason for staying put, one day I will tell you the full story.

[karldinnel] 27/8/2010 09:25

Sand dollar. I think Tim00 is out of this. I remember him saying there were better short-term prospects...

[sand dollar] 27/8/2010 09:15

Well done indeed Tim, with your great forecasting abilities would you like to have a stab at when we will start to see a significant closing of the NAV/Share Price gap? I would not expect anything to happen before mid 2011 and that's probably optimistic.

[karldinnel] 27/8/2010 07:30

Like this bit:

"A dividend has been declared for the first half of the year and it is
intended that a further dividend in respect of the second half of the
year will be payable in February 2011."

I'm happy to be getting 8p in dividends while the market takes its time to re-rate this share. Certainly better than putting it in a savings account...

[karldinnel] 27/8/2010 07:22

Well done Tim. Link to report here:

[tim00] 27/8/2010 07:09

My post 1880 estimated a NAV of £2.85 at end-June. Spot on! I'm not normally that accurate. So still about a 60% discount to NAV.

[geng] 18/8/2010 09:09

hombe - I believe you can ask for the dividend to be paid in shares. I haven't set this up yet but will be using my divi to buy more shares.

It wouldn't surprise me if more holders do this.

If anyone took up the open purchase offer and is waiting to get back in then this is the first real chance with the offer price now below the open purchase price.

It will surprise me if it goes much below this as this is the price the company sees as good value to buy back shares for cancellation.

[hombe] 14/8/2010 20:27

Any ideas here on what might happen around the 27th when/what if the div gets reinvested?

=> roughly 36m shares => £1.44m => a max of 1.2m purchases => average daily volume is under 50k => 4 Aug last year saw vol at 911k and the price change from 35.25 to 72.62 => Germany growing at a rate not seen since reunification also has to have a +ve effect sooner rather than later on the space in Europort.

Dull but ...

[geng] 13/8/2010 17:53

The thing with ALPH is most of the property is in France and the French figures today are to me a bit inconclusive re a recovery.

Also the discount to nav is much less than with MERE.

The next Divi from MERE may well be much more than 4p and thus the yield will also be over 10%. Also if MERE achieves the same discount to nav as ALPH then there is an almost 100% gain to be had here.

Also MERE hasn't yet made anywhere near the same recovery in share price that ALPH has from their respective highs.

Lastly I really feel there is a great chance of MERE being taken out. If this happens then it should be at a small discount to NAV as there is now a good and growing revenue stream.

It's just such a boring stock to hold!

[karldinnel] 13/8/2010 11:33

geng. It may be because some people are switching into ALPH, which brought out a positive statement today and confirmed a 0.9p dividend. ALPH's yield is around 13%.

I've not reduced my MERE but I've used some of my reserve cash to buy more ALPH today after having reduced there earlier in the year.