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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
  0.00 0.0% 198.50 197.00 200.00 - 4,993 08:00:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 29.3 9.5 8.6 23.1 186

Mckay Securities Share Discussion Threads

Showing 1351 to 1375 of 1475 messages
Chat Pages: 59  58  57  56  55  54  53  52  51  50  49  48  Older
DateSubjectAuthorDiscuss
02/2/2014
10:49
Shareholders have had a great run; but all good things come to an end. Seems to be little reason to BUY at this level and after the equity issue, where are the new buyers going to come from in any event? If it is at best just going to trade sideways - then why HOLD. A TOP formation seems to have been developed, so a sell-off to 180p and then 160p may be on the cards... free stock charts from uk.advfn.com
skyship
31/1/2014
19:39
How do we reconcile a "progressive" dividend policy to a decline in rental income per share ?
coolen
31/1/2014
07:30
The word "dividend" appears 151 times in the prospectus, but they don't make any explicit promises. eg: "The Board further anticipates that it will enable the Group to benefit from economies of scale, enhance the Group's earnings and support its progressive dividend policy." Obviously the rental income per share will decline, but so should the net interest. Hopefully it has been calibrated such that the dividend can be maintained.
stevie blunder
31/1/2014
02:26
What do they say about future dividends?
sleepy
30/1/2014
19:57
The increase in equity ought to mean improved re-financing terms. In turn, that might result in better P&L dividend cover, yes/no ?
coolen
30/1/2014
17:14
The capital raising surprised me. I increased my shareholding considerably last year. The rational for raising the funds is as follows per announcement "Assuming that 45,879,174 New Ordinary Shares are issued pursuant to the Capital Raising, to raise gross proceeds of approximately £86.7 million, it is anticipated that approximately £45 million will be used to fund the current portfolio projects and refurbishment and redevelopment opportunities noted above (made up of £10 million for the current portfolio projects and £35 million for the Redhill and Lombard Street projects). The remainder of the net proceeds may be used by the Group to, where appropriate and in line with its strategy, fund property acquisitions, to strengthen the Group's financial position and for the general corporate purposes of the Group. Use of the proceeds from the Capital Raising for these purposes would increase the size of the portfolio, bringing with it inherent diversification advantages. The Board further anticipates that it will enable the Group to benefit from economies of scale, enhance the Group's earnings and support its progressive dividend policy. Further, by increasing the market capitalisation of the Company, the Board considers that the Capital Raising will make the Group a more attractive investment prospect going forward, and promote increased liquidity in the Company's shares. The Capital Raising will also reduce the Group's gearing ratio, which will in turn increase the available headroom under the Group's financial covenants. As a result, the Group will be able to access the favourable terms provided by the Group's existing bank facilities. The additional availability of funds under these facilities will further support the Group's strategy of strengthening the scale and quality of the Group's portfolio. Until the net proceeds are utilised as set out above, they will be applied to reduce the amount drawn on the Group's four banking facilities (which can be redrawn)." Looks as though they are coming out of deep slumber and are proposing to double size of the Company presumably to put predators off. It will be a pretty big development schedule at £45m. Looks as though there will be better terms for the current bank facilities and perhaps an extension to 2018/19.I guess £37m is earmarked for a deal on swaps and/or further acquisition. It is certainly a big move and might end in an exit for management in 3/4 years time. Big problem for me is how much to put in bearing in mind that original family shareholders are not contributing. regards Linhur
linhur
30/1/2014
14:20
well - they want 45m of the net 82m to be raised (bankers and other leeches take 4.5m from the gross) to develop properties they already own and to buy one they've got their eyes on in EC3. so what's the extra 37m for? it cd be used to reduce current borrowings but that only reduces interest payments by abt 1.8m annually (cost of funds is a tolerably impressive 5% at present). do they have in mind a deal with the swaps counterparty who has given notice of break for 30m in the next couple of years? the 30 sep 13 valuation of that liability is abt 21m by my reckoning. what might they get out for today? or do they want the extra 37m to punt on new property buys that are as yet unidentified (or at least not disclosed)?
ursus
30/1/2014
10:53
Yes, an interesting capital raise. Took me by surprise a bit. I'd already doubled up in the 150s, so will not take up my full allocation. I think it's a very positive development for the company though! Not much dilution versus the NNNAV. This has to be good news though as gives them significant firpower and will undoubtedly sort any debt issues.
topvest
30/1/2014
09:15
Just doubling the number of shares in issue. Going through the prospectus now. Obviously there is dilution issue, and I wonder about the dividend.
stevie blunder
13/1/2014
09:33
HTTP://www.onecrownsquare.com/ HTTP://www.lsh.co.uk/assets/pdf/property/PropertyInfo15148_One_Crown_Square_-_GU21_6HR_-_2012.pdf
speedsgh
13/1/2014
08:09
Yes stonking yield. Never really understand these. Whats the risk that requires such a high reward ? Is it driven by multi-occupation and admin costs or age of the building ( refurbed air-con could be indicative of other major costs needed ??) I could imagine a situation where existing leases are short and we are talking about re-development before new lets (after the 'short term' in the announcement). This is very much McKay's bag but probably not the sellers. - am I warm do you think ? That said still looks a bargain to me !
housemartin2
13/1/2014
07:33
Nice aquisition this morning yielding 9%; McKay Securities PLC, the Real Estate Investment Trust (REIT) specialising in South East and central London office and industrial property, is pleased to announce the freehold acquisition of 1 Crown Square, Woking from Cordea Savills for £6.0 million. This acquisition is in line with McKay's strategy to seek out and invest in commercial property in its core market area with the potential to generate income and capital growth from active management, refurbishment and development. 1 Crown Square is multi-let, with net contracted rents totalling £588,169 pa. This represents a low average rent of £11.60 psf overall and provides an attractive initial yield of 9.3%. Occupiers in the building include tenants such as Proctor and Gamble, Royal Bank of Scotland and Petrofac, who together pay 63% of contracted rents. The building is situated in a prominent position in the heart of Woking town centre. It totals 51,500 sqft, consisting of 45,280 sqft of offices over ground and seven upper floors and 6,720 sqft of ground floor retail. Recent improvements have been made to the building, including replacement of central air conditioning systems. The town has proved a popular location for occupiers, and is set to improve with upgrades planned by a pro-active local Council. Commenting on the purchase, Simon Perkins, Managing Director of McKay said: "1 Crown Square provides an attractive income yield off low rents. In the short term, our active approach to building management will improve amenity for existing occupiers, and enhance income and capital returns with improved rents and savings on running costs. Returns will be further enhanced by improving rental levels in the town, as evidenced in recent lettings. The vacancy rate of good quality floor space in Woking is only 4%, which is similar to many town centres in the South East of England where recovering occupier demand has an increasingly limited choice of buildings. The low purchase cost provides the potential to generate future gains from comprehensive refurbishment or redevelopment either on a standalone basis or as part of a site assembly."
janeann
11/1/2014
21:51
Just noticed the reference to ISAs. I hold my BLand in an ISA but my MCKS is in a normal dealing account. I'll have to check the different treatment as that is obviously the difference
smicker
11/1/2014
20:33
Maybe as I hold in an ISA I've never had any problems receiving the full amount. I use Barclays Stockbrokers and would recommend - always prompt to rectify any issues. I used to be with idealing but with the bargain brokers you get what you pay for when things go wrong. Hope Halifax credit you the lost divis.
jrr774
11/1/2014
19:13
JRR774, No i havent and i didnt get the difference last year either as far as i can tell looking at the various tabs within the Halifax account. alter ego, yes i'll have to talk to them on Monday to see what is going on.
smicker
11/1/2014
17:27
well I received 2.16p but as I said before the tax is reclaimed in full in an ISA. Smicker, suggest you speak to Hfax about it , they should reclaim for you without you needing to ask.
alter ego
11/1/2014
14:44
Smicker - do you not get 2.7p per share as a divi?
jrr774
11/1/2014
12:14
Alter ego, That seems to happen with selftrade but i cant see any sign of the tax reclaim with halifax when i look back at last years divis
smicker
11/1/2014
09:09
smicker, yes. initially the divi is paid net of tax but this is claimed back subsequently. Should happen automatically but give it a month or two.
alter ego
11/1/2014
00:20
I've just got the divi via halifax account but it is short of the amount expected. I always assumed it was corrected some time later as Selftrade do with B Land for me but i cant find the extra payment. Anyone else experienced this?
smicker
29/11/2013
21:01
what did it say skyship?
patviera
29/11/2013
09:16
UP on a BUY tip in the IC
skyship
20/11/2013
00:02
scburbs - they can't have exercised the break since the next date to do so was as stated Jan16 (£25m) and Dec17 (£5m) - I had that confirmed by the FD quite a while ago. But i can understand the confusion given the sentence you highlighted and the length of the notice.
nil desperandum
19/11/2013
23:24
Still seems unlikely. If the counter party bank had given notice that based on current market conditions they intend to break then that would make sense (perhaps to aid the MCKS's accounting given it was always likely they would break). It seems unlikely the notice period is really that long and that they have actually exercised the break.
scburbs
19/11/2013
23:14
Hmmm yes, badly worded I think. Take a look at note 7 sub-note 5. "5The counter party bank has given notice these breaks will be exercised." I too am surprised that the notice period is so long, but it is a very long dated swap so a lengthy notice period would be in order I guess.
nil desperandum
Chat Pages: 59  58  57  56  55  54  53  52  51  50  49  48  Older
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