Panther Securities Share Discussion Threads

[topvest] 26/4/2018 20:39

I'm happy to back Perloff. You get a reasonable return and a very interesting read twice a year with his ramblings! An enjoyable investment.

[ntv] 26/4/2018 15:58

that is all old hat debsdowner
we all know that
redevelopment buildings are what it is all about
yield is good for at least the next couple of years and is nearly as good as any other property company plus the added bonus of sale profits and virtually zero chance of a placing to dilute existing shareholders
to me for now that makes a happy holder

[debsdowner] 25/4/2018 20:44

When Panther bought Wayfarers it assumed it would gain a better yield since its purchase it lost its best tenant!

It will be interesting to see how its new purchase of a further town centre parade fares when High St retailers are in serious trouble.

[debsdowner] 25/4/2018 20:38

Further red flags, its all in the detail:

Average borrowing finance:

2016 6.6%

2017 6.4%

Average rental yield:

2016 7.7%

2017 7.1%

Rental property yields falling closer to finance cost rate!

If gearing was higher and company made less on disposals the company would soon run into trouble.

[debsdowner] 25/4/2018 20:26

Another observation:

Properties have been recently revalued, in fact the Wayfarers Arcade given a substantial increase in valuation shortly after its purchase. Since then its lost its most profitable tenant in Multiyork. I have to say I question the increase in property valuations due to a massive closure of High Street properties in general.

Property is overvalued all over the world at the moment there are too may shops and its still in decline.

If you want to know why the company is trading at a discount its because the city does not believe the valuations are sustainable.

This is not the first time there has been a property boom gone pear shaped its happened numerous times before.

Stock markets are still in correction phase and there will be worse to come.

Just saying guys be careful!

Don't get carried away with such silly ramblings from a man that thinks he has all the answers.

[topvest] 25/4/2018 20:03

Should be disclosed in the related parties note when the annual report is available.

[debsdowner] 25/4/2018 17:58

Questions to you guys.

AP not mentioned what rent is he receiving from the Perth Property to Beale. Why not?

Not very transparent particularly as AP owns Beale!

No mention of his purchase of the Wayfarers arcade in Southport and rents received!

A large portion of the properties now vacant but the largest vacant unit which was rented to Multiyork now full of Beale's furniture!

The fact that AP has a financial interest in both Panther and Beale he should be more transparent about these matters.

These are important questions which need to be raised at the AGM.

[topvest] 25/4/2018 17:37

Yes, very pleasing. Good old Perloff!

[alanji] 25/4/2018 16:13

I put in a buy order for 3000 @ 370 but only got 500.

[russman] 25/4/2018 12:13

The valuers seem to be very conservative.The discount is too large. R

[hybrasil] 25/4/2018 11:29

Yes and where would you be without the KYC ramblings?

[ntv] 25/4/2018 09:42

recent sales when completed appear to have added another 16p to asset valuation excluding Birmingham site that may fall through
if that went though it would probably take it to about 550p
Wickford planning then sale would add a fair bit
presuming Swindon planning would add a fair bit as well

[ntv] 25/4/2018 07:20

nice results
nett assets of 515p
more profits already booked for current year
though swaps valuation will drop in current half year so may affect this unless BoE increase interest rates in May

[russman] 21/4/2018 10:33

The cash is rolling in.Use it for a share buyback.

[ntv] 20/4/2018 10:10

my recent purchases don't seem to show up for some reason though not really bothered

[ntv] 18/4/2018 18:42

and all the way back down again

[russman] 18/4/2018 11:39

Start a share buyback program.It does not have to be big.

[ntv] 18/4/2018 08:01

Looks like the yield will be over 6% for the nextext couple of years.now sitting at one the largest discounts in the sector

[ntv] 16/4/2018 21:15

the exit yield was very low at around 4%

topvest
they are calling it a special dividend so i am presuming we will get a final as well though the interim was raised.
they seem to mix and match the dividend so i guess the total will be the same as previous years
hoping we will get another special dividend next year because of the sale of the Birmingham
other pockets of land up for sale as building plots
anyone know if they have got planning for the increased size of the Swindon site as i haven't found anything recently

[topvest] 16/4/2018 20:28

Yes, absolutely. Think Perloff is a cautious man when it comes to valuations. A nice 10p dividend as well, although a bit confusing on whether there is a final 2017 dividend as well? I suspect not.

[ntv] 16/4/2018 15:55

another nice sale well above asset level

[ntv] 09/3/2018 09:01

not sure what they can do as Mr Perloff owns so much of the equity
i suppose they could buy back and not cancel the shares
A nice increase in the dividend would help as it hasn't increased for a while
Not really keen on special dividends as they don't do much except increase your tax bill

[russman] 08/3/2018 11:02

The spread is too big.The volume traded is small.If the deal completes; should be spare cash.Buyback to close the discount.

[topvest] 07/3/2018 21:13

Thanks NTV. Yes, happy to hold even if its just to read Perloff's ramblings. Returns over the last decade have been quite poor though really.