Panther Securities Share Discussion Threads

[ntv] 26/1/2023 11:56

xd today for 10p special

[russman] 16/1/2023 17:43

maybe increase the share buyback programme,

[1tx] 16/1/2023 10:51

The special divi is welcome.The yield as well as the quality of the portfolio seems to be increasing & I think as one or two development properties are sold in the future eg Bedford & Peterborough we may see future special divis.However the spread on the shares means that it not sensible to sell or buy shares presently.As Panther is a small part of my investments it is not a problem.

[russman] 16/1/2023 09:39

seems a steady ship with nice extra divi.

[hybrasil] 16/1/2023 08:32

Well.
The company is confident enough to pay a special dividend.
I confess to the possibility that I might be wrong!

[russman] 06/10/2022 16:26

"In last year's accounts I announced that Simon Peters would be taking over as Chief Executive Officer, but I would continue as Chairman. This will allow me to extend my weekend to include Fridays, which will give me more time for my personal interests."

[russman] 05/10/2022 16:11

Perloff is retiring.

[topvest] 04/10/2022 15:40

I personally think the debt is fine, given the interest rate swaps in place. The swaps are very long though, which is intriguing given Perloff's age.

[hybrasil] 04/10/2022 06:20

An rns that clearly spells out the benefits of hedging your interest rates.

While it’s good news and gives breathing space I still think the debt is too high

[russman] 01/10/2022 03:47

Recruit another MM then; doubt it would help the spread,
Perloff needs to start structuring his legacy.

[hybrasil] 28/9/2022 08:05

topvest
I have loved his ramblings for many years.

[topvest] 22/9/2022 19:31

Personally, I think they are just about OK on gearing, but I wouldn't want to go much higher. The lower bank facility was probably a good thing given where we are in the interest rate cycle. 30% LTV on their prudently valued portfolio appears reasonable given they have interest rate swaps in place providing protection. Not a holder at present, but will probably get back on board soon. The obvious risk here is that Mr Perloff is getting on a bit. Hopefully, he will keep entertaining us for another decade or so!

[ntv] 22/9/2022 17:01

Russman
There is only one MM

[russman] 22/9/2022 16:28

solid NAV 599p; share price does not budge, Spread is huge.

[hybrasil] 13/9/2022 08:56

As I see it there comes a time to repay debt. Banks no longer view property companies in the way they used and have adopted a much more conservative approach.
Witness panthers loan renewal this time round
I think it’s over geared
They previously had £75m of borrowings and they could only get £66m this time.

[russman] 08/9/2022 05:43

Free float is approx 25% already.
Liquidity is a problem.
Could do some sort of annual share tender. Shareholders can sell up to 500 shares back to the company every year.

[russman] 08/9/2022 05:18

Risk is acceptable. Discount to NTAV & spread is too big.
Put resolution for a large share buyback to shareholders at the next AGM.

[hybrasil] 06/9/2022 10:34

Look at the news on INL today.
Property and debt no longer mix.
I think Panther is over geared

[russman] 02/9/2022 17:24

the swap liability is best ignored year to year.

[1tx] 02/9/2022 09:46

The reduction in the interest rate swap liability increases book NAV to circa 625p based on Dec 2021 valuations.

[russman] 20/8/2022 03:08

Borrowing cost is fixed.
Could sell assets to raise liquidity if required.
A small share buyback program should be started. Spread is uneconomic to trade.

[hybrasil] 27/7/2022 07:52

I just think in this market the borrowings are too large.
30% would be prudent