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Share Name Share Symbol Market Type Share ISIN Share Description
Mckay Securities Plc LSE:MCKS London Ordinary Share GB0005522007 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -9.00 -4.27% 202.00 202.00 207.00 212.00 205.00 212.00 101,821 16:35:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 29.3 9.5 8.6 23.5 189

Mckay Securities Share Discussion Threads

Showing 1251 to 1275 of 1500 messages
Chat Pages: 60  59  58  57  56  55  54  53  52  51  50  49  Older
DateSubjectAuthorDiscuss
15/2/2013
15:31
agree, not extinct, thankfully - very positive IMS is helpful
alter ego
15/2/2013
12:39
definitely life still here........
janeann
15/2/2013
07:56
Good IMS today http://uk.advfn.com/news/UKREG/2013/article/56316917 Highlights: The most significant event for the Group over the period was the freehold disposal of 100 Bothwell Street, Glasgow (100,270 sq ft) for GBP16.79 million. The sale price represented an 8% surplus over book value (30(th) September 2012) for the property, which was developed by the Group in 1988. The disposal on 4th January 2013 followed the uplift in value secured in May 2012 when a lease extension was agreed with the Student Loans Company. The proceeds will be recycled into commercial property within the Group's core London and South East markets that replace income with the potential to add value through development, refurbishment or active management. The disposal leaves the Group's portfolio located entirely within these markets, split into three main sectors: South East offices 43%, London offices 34%, South East industrial 21% and residential/retail 2% (by value as at 30th September 2012 valuation). ------------------ The Group acquired 66 Wilson Street, London, EC2 in December 2012 for GBP3.6 million at an initial yield of 9.9%. The office building, which totals 12,345 sq ft, was built in 1988 and occupies a prominent corner location just to the north of Broadgate and Finsbury Square. This location is benefiting from increasing TMT occupier demand and the anticipated impact of Crossrail. The building is let until June 2013, at which time either the tenant may choose to extend its occupation or the Group will implement a comprehensive refurbishment. -------------- At Pinehurst Park, Farnborough (acquired in June 2012) planning consent permitting conversion from office to residential use has been achieved for the former Convent (13,400 sq ft), which is being marketed freehold at a price of GBP900,000. Disposal of the Convent was the planned first phase for this asset, leaving the balance of the site (2 acres approx) with a secure running yield (on cost, less estimated net disposal proceeds from the Convent) from the retained office element of 17% until February 2018, during which time the potential for an uplift in value from residential consent will be explored. --------------- Portfolio occupancy (by rental value) increased to 93% from 91% (30th September 2012). The five largest void buildings, totalling 76,000 sq ft, account for 73% of this void (by rental value). These are all located in established centres and are being marketed in good condition to enhance letting prospects. --------------- Rents received within seven working days of the December 2012 quarter day continued to exceed the Group's target of 90%. Tenants paying rents on a monthly basis remain low and well below 5% of rents demanded. There were no tenant insolvencies over the period. ---------------- None of this is new news but presented in one release it looks quite impressive and illustrates managements new attitude.
alanji
14/2/2013
16:05
well its got to 140 on the bid where it hasnt been for a while. odd set of trade data too..... almost completely alternating buy and sells.
janeann
14/2/2013
15:25
movement? Looks about as lively as a dodo to me.
alter ego
14/2/2013
14:48
well starting to show some movement today; about time given the discount to NAV
janeann
28/1/2013
17:10
At 47% LTV is reasonable and similar to peers. Swaps are now aligned with loans. Rates not bad - £75k from 4.8% to 5.17% in March 2014 £25k from 3% to 4.32% in April this year.
alanji
28/1/2013
13:36
MCKS has been trading within the very narrow band of 130p/140p for the past 9months. The problem keeping the lid on the share price may be the relatively high LTV and the continuing trap of their swaps which prevents them going for an early refinancing to lock in the historically low interest rates. I'm sure they would love to "Do a Picton", but it doesn't look as though they will do so... free stock charts from uk.advfn.com
skyship
07/12/2012
14:55
Agreed, the stats of a 6.3% yield and a 43% NAV discount suggest 132p is an attractive buying level. However, with sentiment still against the sector and the indicators in downtrends, I'll wait and watch for the moment. These can move 5%+ in the blink of an eyes, so will set a 125p buy limit just in case... free stock charts from uk.advfn.com
skyship
29/11/2012
15:54
This imho is the cheapest propert company around..a safe 6.5pct yield a high nav of 230p and good tenants....I have a 2qd price target in 2 years time.
patviera
21/11/2012
14:42
Lord G, etc. ... I missed the MCKS results because I was checking stuff ahead of going to yesterday's AGM of Town Centre Securities [TCSC] in Leeds. It's similar in that it has regional expertise, though more retail-focussed. For anyone interested in propcos, it seems that the larger [FTSE100] are fully-valued, and the rest won't get much capital growth until markets recover outside the hot areas of central London. MCKS and TCSC have different skills and areas, but each one appears to be good at what it does. Neither is over-leveraged unless there's a repeat of 2007-09. So no wizardry for a while, but yields of ~6% are attractive.
jonwig
21/11/2012
14:32
Can't argue with that assessment. Thanks for that jonwig.
lord gnome
21/11/2012
14:30
alter ego - thanks, I tend to look at IC a couple of times a day. Anyway, here is their wisdom: RESULTS: The regional office market is stagnant, but McKay has had a strong half and its shares look cheap Real-estate investment trust McKay Securities (MCKS) signed two big deals during the six months to the end of September. The first was a 12-year lease to the Overseas Development Institute for its newly furbished office block on Blackfriars Road in Southwark, at a rent of £800,000 a year. Partly because this was 9 per cent above surveyors' March estimates of rental value, the building was marked up in value by a full 48.1 per cent. That was the primary driver behind the 1 per cent growth in the value of the total portfolio. The other deal was a potentially profitable acquisition in Farnborough. McKay bought Pinehurst Park, which consists of two office buildings let to IBM, for under three times the rental income of £1.29m. The income will fall to £500,000 when IBM vacates one of the buildings next year, but McKay then hopes to get planning permission to convert the site, which used to be a convent, into housing and sell it to a specialist developer. When IBM leaves the remaining 1980s office block in 2018, it will then sell on the rest of the plot for housing. These two deals helped boost rental income by 5.2 per cent to £7.23m. After flat administration costs and slightly lower interest payments, adjusted profit was £2.94m - 17.6 per cent higher than last year. House broker Oriel Securities expects adjusted full-year net asset value to increase to 233p a share (229p in 2012). IC VIEW It has been an encouraging year for McKay, even in a stagnant market. Trading on a 41 per cent discount to adjusted NAV of 231p and yielding over 6 per cent, the shares look cheap on a long-term view. Buy.
jonwig
21/11/2012
13:57
tipped as a buy in the IC today
alter ego
21/11/2012
11:30
I've only just caught up with the H1 results from yesterday. They appear to be managing their estate well, including the recent acquisitions. Voids are down a lot (though this might be a blip), and lease length up. Considering the market outside prime London is flat, MCKS seems a sound hold.
jonwig
27/9/2012
09:21
SteMiS - well done you. You timed your play well. Got my timing all wrong in MCKS and now hold only APT, DSC & TEIF in the property space - APT a recent buy which @ a 52% NAV discount is surely over-discounting the worst.
skyship
13/9/2012
10:31
Thank you to anyone who generously donated to Marie Curie - details in my original post (link below). The total to date is over £1200 and I know a few more cheques are in the post. This compares with the average of £2-300 so, a fitting tribute. Donations are still being accepted should anyone still like to contribute (details in original post). All contributions will be used to fund the provision of end of life nursing care for patients in their own homes. When arrangements were being made to get Lisa home there was only one nurse available. Two are required and had I not agreed to act as the second 'nurse' she would have died in hospital, so it is certain that any funds raised will help someone else fullfill their wish of being in familiar surroundings with people they love, in their last hours, days or weeks. Thank you also for the kind messages, both publicly and privately. http://uk.advfn.com/cmn/fbb/thread.php3?id=19607268&from=619#firstpost
alanji
04/9/2012
07:36
I was thinking of switching to another prop-co. But it's worth noting that they were able to pay 14.2p in 2009 (doubtless from a different asset mix) and recent acquisitions should be dividend-enhancing in due course. How likely is a bid? Panther have a stake which may be strategic, or maybe opportunistic.
jonwig
04/9/2012
07:28
That's me out. 27% in 16 months (inc dividends) has been a decent return but the yield is now only 6% and I've decided to up the proportion of cash in my non SIPP holdings.
stemis
03/9/2012
22:04
Alan, I've just got back from holiday and was greatly saddened by reading your last post. I feel for your loss. I suffer from Leukaemia and I know just how valuable is the work of organisations such as Marie Curie. I support Macmillan who helped me when I was diagnosed. I will make a special donation for you.
lord gnome
31/8/2012
04:25
Unfortunately my wife has been very seriously ill for some time, was admitted to hospital two weeks ago and she died early yesterday morning at home. I could not believe the service we received from the NHS palliative care team and the Marie Curie nurses in their efforts to get her home to enable her to pass away in familiar surroundings and the comfort of her own home. We will be having a collection for Marie Curie at her funeral. If any of you have benefited from my postings you might like to consider making a donation to Marie Curie. They provide end of life care for anyone, not just cancer patients as I had previously thought, and their support and dedication was unbelievable. Without this service my wife would have had no choice but to die in a room full of (in her case, well meaning) strangers. For anyone kind enough to contribute, cheques should be made payable to Marie Curie Cancer Care and sent to Peter Jackson Funeral Services, High St, Henstridge, Somerset, BA8 0RB with a note to say in memory of Lisa Izatt. The funds will be used to support the local charity which looked after Lisa. Last year they funded 49 nurses who cared for 429 patients at home and they need to raise £510k this year to continue at that level - it would be great if we could increase it. This funding enabled many people to spend their last days or weeks in the comfort of their own homes in familiar surroundings. Thank you to all who may contribute and I wish you success in your investing - but it means not a whit if you have not life and health so get your priorities in the right order. If you are kind enough to contribute please print out and complete the "gift aid" declaration and enclose it with your cheque to increase the value of your donation with no extra cost to you. https://www.mariecurie.org.uk/en-gb/donate/donatenow/
alanji
30/7/2012
11:00
NRR not on their list. I hadn't heard of them.
jonwig
30/7/2012
10:51
I hold MCKS but NRR has a better yield and higher discount.
stemis
30/7/2012
10:45
IC has an article featuring eight small property companies for their yields: http://www.investorschronicle.co.uk/2012/07/26/your-money/property/commercial-property/healthy-high-yields-6dUeAJbRybz7for84n9DUO/article.html Their out-and-out pick is redefine International [RDI] which at first sight looks a basket case, but who knows? MCKS is in the list. Nothing new said, but the consensus here is supported: McKay (Fairly priced, 119p, 23 Nov 2011) has had a busy few months and the share price has risen accordingly. Crucially, it managed to re-let a refurbished office at Blackfriars at a good rent (although still less than the previous occupier, Lloyds, was paying). It has also extended a lease to the Student Loans Company for a Glasgow office and bought a high-yielding office near Farnborough that's ripe for conversion to housing. The company has limited rental growth prospects, but its big dividends look increasingly secure. The shares trade on a big discount to book value if you strip out the effect of a troublesome portfolio of interest-rate hedges.
jonwig
19/7/2012
06:23
IMS: http://www.investegate.co.uk/Article.aspx?id=201207190700049635H Doesn't say a whole lot really, but what it does say is all good AFAICS. The important part: The Group remains in a sound financial position with no near term refinancing. Drawn debt increased by £5.5 million over the period to £106.0 million, due to acquisition and property expenditure, leaving the Group 99% hedged. Headroom of £49.0 million to total facilities of £155.0 million remains. Of this, approximately £4.00 million is currently identified for expenditure on portfolio properties and acquisitions. Headlines: Portfolio void reduced to 8.9% (31stMarch 2012: 13.3%), with five new tenants signed up at contracted rents totalling £976,650 pa. Refurbishment of 203 Blackfriars Road, SE1 and a pre-let to the Overseas Development Institute completed on programme. Lease extension to the Student Loans Company for 100,270 sq ft completed at 100 Bothwell Street, Glasgow. Earnings enhancing acquisition of Pinehurst Park, Farnborough. Resilient quarterly income maintained.
gingerplant
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