Buy
Sell
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
  0.00 0.0% 11,500.00 11,300.00 11,800.00 - 96 08:00:49
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 64.9 34.9 725.7 15.8 448

Mountview Estates Share Discussion Threads

Showing 201 to 225 of 525 messages
Chat Pages: Latest  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
16/12/2014
15:54
Looks like the bid's on the way, so that all the ageing major shareholders have an out.
eggbaconandbubble
16/12/2014
15:18
Nice article - can only help raise awareness of how this is still looking undervalued: https://uk.finance.yahoo.com/news/stockranks-upgrades-downgrades-december-16th-113519429.html
rizzle
16/12/2014
14:16
Wow. Loving this ride
brahmsnliszt
12/12/2014
23:15
I'm lovin it, lovin it, lovin it!!!!
chector177
12/12/2014
16:24
Looks like people still willing to buy. Looking at the trade prices, It looks like even those marked down as sales are most likely to be buys.
eggbaconandbubble
05/12/2014
08:52
It will have helped. Buyers of lower-value homes will pay less duty. But I think we're in the middle of a serious re-rating of this stock, which will only be dented by a house price crash.
jonwig
05/12/2014
08:12
Jonwig, Do you think slight upward movement last two days anything to do with George's stamp duty?
eggbaconandbubble
02/12/2014
12:36
"This is doin me 'ead in". But we're looking good. Right? Under valued, and the share price is moving up again today. TP £1.10?
eggbaconandbubble
02/12/2014
09:11
No, just their trading properties were revalued. Go to the balance sheet, find the trading properties (£317,651,000) and add £348m to it. When you next see a balance sheet (at FY stage) the revaluation won't appear, as it's off-balance sheet. IFRS demands current assets at lower of cost and current value. So you'll need to do a separate calculation again. It's irrelevant to the calculation, but borrowings aren't £89m: look at the liabilities section of the balance sheet. I suspect you're looking at a third-party source instead of the company's own numbers.
jonwig
02/12/2014
08:57
Allsop valued all the properties they have at £666m. They have debt - borrowings of £89m Ergo basic net asset value is £577m. (666-89) approx. £148 per share, in theory. Something a bit less in practice. Where does your £318m figure come from?
eggbaconandbubble
02/12/2014
08:35
Stated by company in header to H1 results. Alternatively, divide balance sheet equity (£276.4m) by number of shares (3.9m). Then go to balance sheet and, add £348m to equity and repeat the calculation.
jonwig
02/12/2014
07:58
OK, not totally disagreeing with you (yet!) but where do you get the figure of £71?
eggbaconandbubble
02/12/2014
06:45
egg - no, the net asset value has risen by £666m - £318m, or £348m. This is £89 per share. So NAV rises from £71 to £160 per share.
jonwig
01/12/2014
20:42
£666 million less net debt of £89 million = £577 m or £148 per share. Less costs of disposal etc. etc. Still good value at £92.
eggbaconandbubble
01/12/2014
20:14
A brief comment in IC, with the conclusion: The shares rose over 6 per cent on the news, but still trade 42 per cent below the book value of £160 a share that has emerged from the revaluation. Part of that discount is deserved: the Sinclair family control Mountview's shares tightly, so the value cannot be crystallised by takeover. But it still suggests considerable upside for long-term shareholders. Buy. Of course, some of the family may be courting a takeover!
jonwig
28/11/2014
08:40
Or be taken over? They've just done some free due diligence for a potential bidder! There was some discussion of your points around AGM time - post #100 onwards.
jonwig
28/11/2014
08:18
Thank you. That all makes very good sense and understanding of the company. From that, what is clearly happening, is that the original business concept of buying up these tenancies is fast disappearing and now going out with an acceleration of profits, till the final drop off. Hence I can understand certain shareholders' (or spouses thereof)concerns on the future direction of the company, and indeed their apparent difficulty in recruiting a replacement CEO(?). Maybe they will wind it up or go into run-off as you put it.
eggbaconandbubble
28/11/2014
07:35
egg - "as is" is my understanding. But of course, property valuation is based on experience of similar properties. If, as is happening, regulated tenancies are being keenly sought by investors with development in mind, property values will be bid up. So it's inevitable that current valuations will reflect an element of potential. It will also mean that MTVW will need to pay more for a property, and margins will be tighter. Tenants are getting older and vacancies are happening more quickly now. This means MTVW's income will improve more quickly. (The eps figures for the last H1 seem to bear this out. And the steep dividend increase might reflect the fact that it's getting harder for them to spend their cash wisely.) However, because supply is limited, the income stream will dry up sooner. So MTVW needs to diversify or, effectively, go into run-off.
jonwig
27/11/2014
21:46
OK, Jonwig, can you please clarify for my simple mind. If a property has a sitting tenant paying one third the going rent, was the valuation given as is, or on an assumption of the value if the tenant pops his clogs tomorrow and a full market rent / sale can be achieved?
eggbaconandbubble
27/11/2014
18:01
Excellent results indeed. Mountview Estates and Daejan Holdings are both doing very well.
topvest
27/11/2014
15:43
mad - the revaluation, as I understand it, is of properties "as seen" and current sale, no assumption of any future benefit. I spoke to one of the auditors at the AGM, and he confirmed this. Added value would come from tenant exit, free market rents thereafter, and refurbishment. Downside, potentially, from London house prices, of course.
jonwig
27/11/2014
15:01
jonwig, do you know if the valuations of the properties in their current state and taking into account the fact they are tenanted? i.e. are you suggesting that if Mountview refurb then that could materially improve the value of the properties or do you think the valuation assumes a degree of refurbishing?
mad foetus
27/11/2014
14:46
In post #108 I suggested: Can we conclude that the mark-up from purchase to sale is nearly 100%? and thought not ... ... but the mark-up from purchase to now is 100% and sale isn't necessarily in mind. These properties, for the most part, still have sitting tenants in regulated tenancies with need for refurbishment. The mark-up to £160 per sh is not the end of the story.
jonwig
27/11/2014
12:56
tiswas - yes, the AGM was discussed last August: at least two posters here attended. Mad f - the family concert party has effectively been disbanded, with some wanting an outer, maybe, hence the revaluation. Lack of a successor CEO, and the glacial pace in finding one is another cause of dissent. Will the company be "in play"? Some at the AGM thought so.
jonwig
27/11/2014
12:35
Interesting tiswas. It may be that some members of the family are voting against each other. However, I suspect part of it may be that the company falls foul of some of the PIRC guidelines and a lot of institutional investors follow the PIRC guidelines as a box ticking exercise. Some of the PIRC requirements are ridiculous, particularly for asset holding companies. But it is a good spot.
mad foetus
Chat Pages: Latest  9  8  7  6  5  4  3  2  1
ADVFN Advertorial
Your Recent History
LSE
MTVW
Mountview ..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210301 11:07:13