Mckay Securities Share Discussion Threads

[ntv] 18/3/2021 07:17

Some ditched a load @211 and 213 last night
Why did they not just phone the acting broker for a better price?

[skyship] 17/3/2021 08:37

16/03 BUYBACKS: 61k @ 216.54p (215p - 217p)

[skyship] 16/3/2021 07:04

Though not much available yesterday:

15/03 BUYBACKS: 7100 @ 215p

[kirmich] 15/3/2021 17:18

They don't mess about, nice buybacks

[skyship] 15/3/2021 07:22

12/03 BUYBACKS: 208k @ 212.03p (212.0p - 212.75p)

[skyship] 12/3/2021 07:05

11/03 BUYBACKS: 70k @ 211.28p (210.5p - 211.5p)

[skyship] 11/3/2021 10:27

I suspect today will show the first buybacks...

[1pvh] 08/3/2021 11:14

Agree with the buyback should have done it sooner at lower prices. Hopefully the dividend will return to pre Covid level of 10.7pI think NAV wil be similar to previous year.

[nickrl] 08/3/2021 10:11

Hindsight maybe not but if the opportunity presents itself they won't necessarily have the firepower and seems strange, to me anyhow, that they've held back for so long to make the move. This BoD also have a pretty hefty stake via performance share scheme so I could be cynical and say they are making sure its in the money!

Yield been to low on this one for me anyhow so will admit to be anarchistic spectator.

[flyer61] 08/3/2021 10:07

Where are the distressed sellers? I am an avid follower of the auction markets and I don't see it. The banks are not particularly leaning on people at this time.

[hindsight] 08/3/2021 09:59

Question is nickrl, could they buy at the same discount that the shares are

[nickrl] 08/3/2021 09:12

Another company that doesn't want to use it fire power to make acquisitions means you have to wonder what confidence they have in the sector just as the distressed sellers are being flushed out.

[flyer61] 08/3/2021 09:07

The anchor appears to have come off Skyship!

[cwa1] 08/3/2021 07:42

Update and share buyback announcement just issued:-



Simon Perkins, CEO of McKay, commented:

"Despite a period dominated by Covid-19, and two further national lockdowns, McKay has made good progress since October. We are pleased to have completed a range of lettings and lease renewals at or above ERV, invested selectively in our portfolio to enhance post Covid-19 prospects as well as increasing our rent collection for the financial year to date to 93.0% of contracted rent. The close relationships we have built up with our occupiers through our in-house management team, together with our focus entirely on the more resilient office, warehouse and logistics markets of the South East and London have been instrumental in these achievements.

"This progress supports our view that the office will continue to play an integral part in the future success of UK business. Occupational strategies will continue to evolve, accelerating many of the trends that we were already responding to before Covid-19, including the importance of innovative and sustainable design, flexibility, short form leases, fitted space and high standards of building management. However, we believe our proactive customer focused approach, combined with the concentration of our office assets within the Thames Valley and other established centres within the South East will support our strategy once the successful vaccination programme allows a safe return to the office.

"Having strengthened our balance sheet earlier in the year with the disposal of 30 Lombard Street, EC3, we continue to consider a range of opportunities for the recycling of capital, and have today announced the allocation of up to GBP10.0 million for a share buyback programme. With our shares currently trading at a substantial discount to our net asset value, this programme offers the potential to be earnings accretive and to deliver shareholder value."

[skyship] 04/3/2021 16:21

Another big trade (73k @ 203.5p), yet still they remain anchored to the 200p level.

[skyship] 03/3/2021 16:55

Ready to blow 🚀

[cwa1] 03/3/2021 15:13

Pulling off the bottom...or false dawn?

[skyship] 27/2/2021 10:09

And yesterday (26th) 100k bought @ 200p...maybe we're due another run up to 220p.

[skyship] 25/2/2021 13:39

Interesting trade at just after midday today. 121k bought @ 200p

[skyship] 12/2/2021 11:18

Looking to the next Update to perhaps shake this out of its stupor. 27th February last year - so 2 weeks to wait....zzzzz

[skyship] 04/2/2021 18:12

A 257k sale @ 190p.......so that is what has been holding this down. Fortunately 150k bought at 192p.

[skyship] 04/2/2021 12:30

A bid would certainly be an unexpected bonus; but if one did emerge then more likely at the c275p level (12% NAV discount).

[1pvh] 04/2/2021 11:44

Hold quite a lot of these and bought some more today. Held them for many years. Hopefully the discount will narrow or a suitor will come in at approx 245 / 250 The dividend should recover hopefully this year back to the 10p level.