Mckay Securities Share Discussion Threads

[nickrl] 03/2/2021 22:22

Sky directors have one of the most generous salary and bonus schemes in the sector for its size although doubt they will make much on the bonus scheme this year. There scope to payout much more is limited so this one i guess is potentially a takeover play.

[skyship] 03/2/2021 15:19

These seem rather marooned at 198p on a 36.7% discount. They are being rated as an Office play of course; however 25.1% of the portfolio is now SE Industrial & Logistics.

The low yield doesn't help; and it really is about time that Simon Perkins recognised and addressed this negative factor.

[nickrl] 27/1/2021 21:24

EI Brentford Mille has been slow to occupy over a few years may benefit from decentralisation. I know they trade well below NAV but divi is low but with good lettings at Theale and reduced LTV from Lombard St sale ought to be able to shift it a little.

[essentialinvestor] 27/1/2021 18:40

Looks quite a bit of space available if their website is up to data.

It gives the facility to click on each holding and look at the space to rent (if applicable) for that building.

[skyship] 27/1/2021 10:54

Thnx to LLef who posted this on the CP+ thread:

[cwa1] 22/1/2021 15:54

Taken a few at 198p, hopefully reasonable value...

[nickrl] 20/1/2021 09:51

Todays RNS isn't quite as bullish as the headline as in reality there down 0.59m pa in rent until they can lease out the vacated space and they've got to spend some capex on a refurb. On the positive the loss of space was already baked in so its not downsizing and they've retained an income stream at an enhanced rental 10% above last review so about RPI is hopefully a good portent of the office market.

[hindsight] 20/1/2021 09:33

Sky, im havent got order in today as got all I wanted at 200p yesterday, so no idea if a keen seller is there and willing to cross still.

[skyship] 20/1/2021 09:16

hs - is that seller still there - seems not. Though perhaps just holding off to sell into the rise.

[hindsight] 19/1/2021 15:10

Thanks skyship, there a seller on the book at 200p as just got a few more filled there

[skyship] 19/1/2021 14:40

MCKS is prone to sudden sharp moves; though does so with rather poor liquidity. I sense another upward move may be in the offing...


free stock charts from uk.advfn.com

[hindsight] 13/1/2021 13:27

Yes Skyship its lot tighter now

[skyship] 13/1/2021 07:43

hs - not included as SLI's discount is a "mere" 23.9%!

[hindsight] 12/1/2021 20:03

Thx Skyship. Maybe adding SLEI Nav 78.8 30 Sep 2020 to your list , may or maynot be of interest

[essentialinvestor] 12/1/2021 17:02

This has hardly moved an inch in the last month.

[hindsight] 04/1/2021 16:38

Brought few today 196p avg but overall think reits may go lower before higher ie bad news before vaccine rollout kicks in

[hindsight] 08/12/2020 08:46

Skyship, was referring to reits, rather than ft100 that would benefit from £ fall

[skyship] 08/12/2020 07:35

hs - 15% DOWN!!! We've already had the down in anticipation; that is why the UK Market is one of the weakest globally.

[essentialinvestor] 07/12/2020 16:19

Unilever is pinging all over the place atm with FX/Brexit deal,
I've traded a few ULVR today but tbh getting a bit old for this.

[hindsight] 07/12/2020 16:04

Thx EI. Think we will know by Thursay night the short term direction. Pencilled in deal 10% up and no deal 15% down

[hindsight] 07/12/2020 14:56

Got a few filled on book today

[hindsight] 04/12/2020 16:03

That maybe me on the book EI, walked up and nothing so paid MM spread for a few, that decided after some reading they are worthy of now sector re-rated

[essentialinvestor] 04/12/2020 15:56

On the move.

[essentialinvestor] 04/12/2020 14:03

Hi Nick,

They are reshaping the portfolio, which may be interesting medium term.

Logistics now account for 25% and can see that over 30% in 2021.

Exposure to central London office significantly reduced.



Nick, out of interest do you have a current view on Capco?.

I notice they received a chunky deferred consideration recently on the Earls Court

asset sale. May have timed their SHB stake buy rather well.

[essentialinvestor] 04/12/2020 11:40

May be the last chance to get in at around current lrvels
if im reading this correctly.