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Share Name Share Symbol Market Type Share ISIN Share Description
Mountview Estates Plc LSE:MTVW London Ordinary Share GB0006081037 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  250.00 2.21% 11,550.00 11,400.00 11,700.00 11,500.00 11,500.00 11,500.00 132 16:35:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 64.9 34.9 725.7 15.9 450

Mountview Estates Share Discussion Threads

Showing 251 to 275 of 525 messages
Chat Pages: 21  20  19  18  17  16  15  14  13  12  11  10  Older
DateSubjectAuthorDiscuss
11/2/2015
09:45
greatgig - they've promised full details in the FY results, which is probably what you are asking for ... all we got at HY stage was a single sentence. If we don't get enough, it will surely be raised by someone at the AGM.
jonwig
11/2/2015
09:25
If by "property valuation" you mean what price a property would command if marketed today free and unencumbered, then I agree that such a valuation would be a nonsense. The only sensible valuation is to take the current market value and employ a discount for the fact that the property is not free (sitting regulated tenant). Whilst the annual percentage discount applied might be the same for all properties owned, being effectively the required rate of return of the owner, the size of the discount will be affected by, inter alia, the age of the tenant. This makes each property very much like a Deep Discount Bond and here is where your comparison with Sovereign Reversions sits. Some useful information to know would be the total free market value of the trading properties that were valued and the discount rate used to determine current market value. Your input will be appreciated and such posts are useful for potential investors looking at MTVW for the first time.
greatgiginthesky
10/2/2015
07:24
One of the auditors explained the terms of the revaluation to me at the AGM, and the chairman confirmed the same. EDIT: was discussed here after the AGM (August).
jonwig
09/2/2015
21:28
Has anyone got the valuation wording to confirm? I think the valuation is the property valuation and not the discounted valuation based on a sale X years into the future at current market value. There is a very big difference, if you look at the accounts of Sovereign Reversions from a few year's back. Incidentally, were they not acquired by Grainger? I agree a takeover is possible. I'm just creating some liquidity in my portfolio and this looked a bit expensive. Still, as I say, a very good company but no longer cheap.
topvest
09/2/2015
11:30
a very expensive whim to placate.
chri5 wright
09/2/2015
11:09
Extract from Chairman's statement 26 June 2014... "Whilst it has never been a requirement to value the trading stock it has been a concern for some of the shareholders. The Board has decided to undertake the valuation of the trading stock and anticipate that the results will be published together with the Interim Report 2014."
greatgiginthesky
09/2/2015
10:30
Engaging Allsop to tell the family what it already probably knew would strike me as a pointless waste of money....... The valuation cannot be admitted onto the balance sheet, so the only purpose can be that another party wanted it, as I doubt the Sinclair family did it for us, the minority shareholders, do you? It feels like a bid, and I'm coming round to it being Grainger Chri5 Wright
chri5 wright
09/2/2015
10:20
topvest - I don't think there's a lot of disagreement between us - but I am looking for a 400p total dividend for the year, and I want to see what the next AGM has to offer.
jonwig
09/2/2015
10:19
Jonwig is correct. The valuation was conducted on an 'as is' basis (why would it be conducted otherwise?) so the £160 is a true NAV figure. Therefore, the valuers applied a discount for the fact that the properties are tenanted and not available to sell unoccupied for some years ahead. I think you may be confusing the uplift that MTVW gains when the property becomes vacant with the other 'uplift' that has been recently revealed as a result of the properties having been held on the balance sheet for many years at cost.
greatgiginthesky
09/2/2015
09:53
Agreed. Yes, but I would say true net asset value is about 120p which is adding on about half of the uplift given the properties are not free to be sold for an average of 5-10 years or so. That's why I have sold - 2% yield and near asset value for a family controlled property company in a bubble London market is good enough for me, particularly when they have tripled in 4 years and the share price has gone vertical because of what I see as a poorly informed/slightly misleading Investor's Chronicle comment which has clearly caused a bit of buying in an already illiquid share. It's a very good company though, so will probably still perform well over the medium term. There is also an outside chance of a bid as the Sinclair's may decide it's a good time to exit as well. The property valuation was the first hint of that. I think Daejan Holdings is better value than this now.
topvest
09/2/2015
08:36
topvest - strictly speaking, IC say it right. The TPs are on the balance sheet at lower of cost and present value. So MTVW had a present valuation done, which they never needed to do before, I assume. The present valuation is "as seen" with no assumptions of occupier status or future refurbishment. So a wild optimist could add a bit to the £160.
jonwig
09/2/2015
08:04
It was tipped in the Investor's Chronicle quoting a £160 net asset value. Isn't that a little misleading actually? The assets are only worth that when vacant, so obviously it can take years to actually gain access / the tennant to die! I've sold my few shares today - happy with tripling my money in 4.5 years with dividends on top.
topvest
09/2/2015
07:31
Did anyone spot any press comment over the week-end?
eggbaconandbubble
06/2/2015
16:03
mad f - on balance, I think you're right to be cautious of others' stock suggestions. I've missed a few good ones, but also avoided some lemons. Actually, I first noticed MTVW around 1971 when I started looking at the FT share pages - it was the only share in the property sector which was quoted in £ (something like £6+7/8 or thereabouts). I had a broker, and in those days they expected to give advice and charge for it. I mentioned MTVW - he said he knew nothing about it except it was hardly ever traded and, anyway, he wasn't going to trade them for me! In those days there was no access to live news for ordinary folk and all I had was FT and Investors Chronicle. Then during the GFC and property meltdown I thought it might be a big beneficiary (low gearing tipped it for me). Patience might be paying off now!
jonwig
06/2/2015
09:52
I am currently kicking myself very hard, having watched this at £80 and waited for a pullback since the last results. Well done holders.
mad foetus
06/2/2015
09:49
I see the open was not that chaotic. But the price is up anyway :-) I recall last year REC jumped 40% when they were included in ST's Bargain Shares 2014. This year REC are once again in ST's Bargain Shares portfolio, but have budged <5% this time. Just goes to show what a difference a year can make.
tmfmayn
06/2/2015
07:30
Not sure to be happy or sad given his record from last year with those Chinese tips. But could be chaotic at the open here, with little share liquidity normally. Let's see
tmfmayn
06/2/2015
07:04
MTVW is the top-rated tip in Simon Thompson's "Bargain Shares" portfolio for 2015. This was published yesterday evening. He says nothing we don't already know here, but he has a lot of followers - I don't see the share price falling this morning.
jonwig
05/2/2015
08:08
The Sun has got his hat on, hip hip hip hooray!
eggbaconandbubble
05/2/2015
07:35
Normally don't post full RNSs, but MTVW's are so brief I might as well: Mountview Estates PLC ("the Group"), publishes its Interim Management Statement covering the period from the beginning of the Group's financial year, 1 April 2014, to date. Turnover is up by 18%, Gross profit by 41% and Profit before tax by 47%. Earnings per share increased by 48% during the third quarter compared with the same period last year, although this was at a slower rate than during the first half of the Group's financial year. The Group continues to make good purchases and remains well funded.
jonwig
04/2/2015
15:45
Sure, egg. I was hypothesizing that some, but not all, family members would want cash and some would want paper. If Grainger make a cash only bid, then CGT will apply to all, but if they make a paper bid then the shareholders can make their own decision to sell their new paper or keep it according to their own wishes and CGT position. On the matter of price, I think that Mountview's profits and NAV per share are most important - dividends and gearing less so.
greatgiginthesky
04/2/2015
12:17
Grainger have much higher gearing than Mountview. I'm not sure that they would be that favourable to MTVW share holders if an offer involved paper.
eggbaconandbubble
04/2/2015
12:03
With earnings for 2014 likely to be around 800p per share I think that a total dividend of 400p is slightly optimistic. I would plump for 100+200=300p if I were a betting man, which I am not, wait, I buy shares so I must be!
greatgiginthesky
04/2/2015
07:07
greatgig - following the doubling of the interim, I think there's a reasonable chance the total dividend for the current year will be 100+300=400p against 50+150=200p last year. Certainly a maintained final would be a disappointment. This would also fit in with the idea that the company is returning cash rather than chasing more expensive regulated tenant properties.
jonwig
03/2/2015
16:23
The right buyer has to offer shares and that will do away with the CGT problem. However, Grainger's shares trade on a yield of 1.22% and Mountview's is 2.22% so a reduction in divi income would occur. A cash offer around £150 would leave the family with oodles more in their bank accounts than seemed likely a couple of years ago, even after taking a CGT hit. GRI has been in the news quite a bit recently and is in quite an acquisitive mood.
greatgiginthesky
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