Palace Capital Share Discussion Threads

[spob] 19/9/2017 08:43

open offer is tiny relevant to the placing

not keen myself

sold mine

will reconsider when all is done and dusted

[spectoacc] 19/9/2017 07:21

Know nothing about what they're buying, but will be very interesting to see where the Open Offer gets priced.

[ntv] 24/8/2017 19:05

sale of leasehold property at nett asset value is good after loss of tennant
BB closing down offices left, right and centre in an effort to cut costs

[skyship] 22/8/2017 15:13

Simon Thompson (IC Online) makes a convincing case for the value of Hudson House post development. Finishes with these two paras:
================================================

So, although analysts at both Arden and Edison Investment Research have held their full-year net asset value estimates at 445p and 449p, respectively, I would be very surprised if we don’t see a decent valuation uplift on this development when the company reports its interim results later this year. I would also point out that the Hudson House development is unencumbered, so the directors have the flexibility of either putting it into a joint venture if a partner can be found, or alternatively redevelop the scheme themselves using Palace Capital’s lowly geared balance sheet. Either way, there is upside potential here for a company which had a last reported net asset value of £110m.

Ahead of the first half results to end September 2017 which will be announced in November, I continue to rate shares in Palace Capital attractively. Please note that I initiated coverage last autumn at 335p ('A royal investment', 17 Oct 2016), since when the board has declared dividends of 18.5p a share for the 2016/17 financial year, with prospects for a 19p a share payout this year, according to analysts from both firms. Trading on a 12 per cent discount to conservative looking net asset value estimates, and offering a solid looking 4.8 per cent prospective dividend yield, I continue to rate the shares a buy.

[skyship] 18/8/2017 17:09

Hmm - personally happy to buy it without paying that damned Stamp Duty!

[topvest] 18/8/2017 16:43

Would be helpful if they could move to the main list next. Just need to announce a compelling deal to accompany it I suspect.

[skyship] 18/8/2017 08:57

Good planning news again. Question is what do they do now - Develop, J/V or sell:

[ntv] 09/8/2017 18:03

guess the two large sellers are still unloading
watched Simon's link with the boss saying he wants PCA to be a £500m in the medium term
guessing 5 years.
going to find that difficult with the mkt cap way be below nett assets
so how is he going to change this situation round?

[ntv] 08/8/2017 15:23

each new letting reduces void costs as well as increasing rental income

[ntv] 08/8/2017 15:22

another letting agreed, more in the pipeline
September will bring application for change of use of vacant Exeter site to residential
yesterdays RNS didn't mention length of leases

[tomps2] 08/8/2017 14:54

PCA corporate video, worth a watch

[skyship] 08/8/2017 14:24

Simon Thompson today tweaks his target price up from 400p to 415p in his IC Online article.

[spectoacc] 07/8/2017 09:47

This was announced back in May, seems they've only just completed. [Edit - not unusual with property of course].

[ntv] 07/8/2017 09:33

interesting buy, good yield on purchase price but not a lot of other detail
maybe that will come with next report

[skyship] 07/8/2017 07:34

£20m acquisition in Newcastle - see link in Header:

Neil Sinclair, the Chief Executive of Palace Capital, commented:

"We are delighted with this corporate purchase, which continues our strategy of acquiring high quality buildings close to transport links in major cities. We have bought the Properties on an attractive initial yield resulting in over GBP600k per annum in excess of the income foregone on our recent disposals and the recent administration of our tenant at Marsh Barton, Exeter. This acquisition increases the value of our portfolio to over GBP200 million

[cwa1] 03/8/2017 09:32

Morning. Dividend arrived today thankfully. Thanks for the input from all.

[cwa1] 02/8/2017 17:32

Thanks guys, appreciated. They're normally pretty good but this one hasn't appeared yet. Will give it until the end of the week and then I'll go after 'em.....

[ntv] 02/8/2017 16:50

chase your broker CWA1
they might be 3 day delay but unlikely more

[steve3sandal] 02/8/2017 15:40

On the dot....always the same with HL. No connection beyond being a customer.
S3S

[deanowls] 02/8/2017 13:30

Had mine mate last week.

[cwa1] 02/8/2017 13:28

Afternoon. Anyone else not got the recent dividend? Cheers

[ntv] 25/7/2017 11:45

pity they don't buy in here at a premium!!

[skyship] 25/7/2017 11:43

Earlier this month NRR managed to raise its capital by c25% at a substantial 15% PREMIUM to NAV - just don't understand why institutions ever buy propco placings at a premium.....but they consistently do so!

[ntv] 25/7/2017 10:28

more to the point here
no news on large office deal
maybe it is going to be part of moving to the main market and fund raising
discount must be nearly 20% now
guess the bigger boys know whats going on and us mere mortals find out later
share price will go nowhere if money is raised at a large discount to nett assets
property companies have to raise money at close to asset value or there is substantial dilution

[ntv] 25/7/2017 10:23

lots of could, maybe and possibly in there makes may laugh