Picton Property Income Ld Share Discussion Threads

[asmodeus] 05/11/2013 16:24

Also, see Sky's post 271

[skyship] 05/11/2013 15:56

K - re LSR - the link below shows my original post on the "Liquidations" thread back in August. Admittedly they are now up 23% on that oversold price; however I still believe the Fundamentals and the liquidation strategy merit a BUY @ 31.75p.



Incidentally, well done you if read correctly. 80% of your SIPP in commercial property would ensure a pretty impressive YTD performance...

[kavnish] 05/11/2013 15:00

Hi Skyship

apologies for the delay, I didn't buy in as you had stated , have moved to a long on AGK and WEIR through the SIPP on the property side already heavily invested directly something crazy like 80% plus of portfolio so as said in earlier posts a long term bull.

Will keep an eye on LSR looks interesting anything you can point me to research wise on that one

Thnks

[nickg2] 04/11/2013 20:44

Half Year Results out on the 12th November...

[skyship] 31/10/2013 18:31

Kavnish - I do agree with you - when you lose the cushion of the NAV discount the holding of a propco at a premium is a hostage to fortune - no longer a value play.

I sold lower down; but am certainly happy holding 35% of my SIPP in propcos at good discounts - APT, DSC & LSR - all rising just as well, if not faster. Sold my CIC as they have perhaps now got ahead of events.

IMO Best Buy at the moment - LSR - share price 32p v. 46p NAV, 56p EPRA NAV. Company in voluntary liquidation. Plenty of info on the LSR thread.

Did you buy DSC after my 257 above - hope so - now up 27% since then...

[lord gnome] 30/10/2013 17:53

Given also that the market will calculate that the real NAV will be greater than that published in accounts.

[red army] 30/10/2013 12:39

Just to say that given the market expectation of continued price improvements the quoted price will always move closer or above.

[kavnish] 30/10/2013 11:51

Lord Gnome : don't get me wrong am a long term property bull across my portfolio, however when the physical market is cheaper than the quoted you know which way to go.

The yield on this one is dangerous as with close to 60% leverage and still offering a pretty low number it shows you how much of the return is being eaten up in fees etc

I was extremely long PCTN for 3 -4 years nice ride , but as said physical market is cheaper .

C'est la vie

[lord gnome] 28/10/2013 17:04

Kavnish - that depends on your outlook view for property prices and your need a for a secure well-covered yield. I am bullish on the former and in need of the latter. Also, the book value is based on certain assumptions and FWIW I reckon it will be very conservative indeed given the experience of the last four years.

[carterit] 25/10/2013 14:43

Same here. I intend to be around for some time.Property crashes don't tend to come along too often. To be honest,if the shares in my property portfolio,increase year on year by approx 10% (5% capital + 5% yield),then i will be well happy to continue holding and reinvesting the dividends.So far,overall,they are comfortably exceeding this (by they,my shares are SREI,PCTN,DSC,FCRE,MCKS)

[irenekent] 24/10/2013 12:04

Not going anywhere except to buy some more.

[janeann] 22/10/2013 06:32

Im still here too, and liking the yield.

[lord gnome] 22/10/2013 06:21

More good news. Things are looking up.

[nickg2] 22/10/2013 06:06

Very nice!

[cerrito] 11/10/2013 11:59

Agree this is good news for their third largest investment..only slight downer is that have to wait til 2015 at the earliest to do the property conversion; given how hot the residential property market in C Garden is at the moment you would have thought it good to bribe existing tenants to move.
Sp increase warranted

[lord gnome] 11/10/2013 10:22

Market seems to like today's news. Still yielding over 5.5% with a quarterly divi. Happy to carry on with these.

[speedsgh] 11/10/2013 07:46

Stanford House Update -

More details with link to downloadable pdf brochure here -

[colonel a] 15/8/2013 14:26

I've sold out of a couple of similar companies recently only to watch them continue to rise.
But I agree that this is now toppy.
But so are most things with a decent yield {and I guess perceived as low risk.}

[drewz] 15/8/2013 13:46

I'm out.

It was a fine ride.

[kavnish] 15/8/2013 13:38

This one has run away from itself, however the market can stay frothy for a lot longer than anyone can think.

Certainly not for widows and orphans now , the yield play here is over and quite frankly when REIT's are at premiums to NAV most larger investors just think , why not pop along to the auction and pick up the real thing. Much better return and no management fees.

E.g spend a million on a shop with 15 year lease, will yield 6% . Load up with 50% debt ( still less than PCTN) and your cash yield moves upto 7% plus , why would you then buy this asset at sub 6%

But anyway , it was a lovely ride whilst the market figured it out . Now time to move on and let the retail boys have a play.

[lord gnome] 14/8/2013 06:39

If interest rates are staying low for a few years, a share which still yields the thicker part of 6% and pays out on a quarterly basis is going to be in demand from income seekers. Divi fully covered, asset backed and the economy in recovery mode with property price edging higher. What's not to like? Especially if you loaded up at 36 / 37p. Please excuse me for having a 'smug git' moment.

[mozy123] 13/8/2013 21:40

Makes you see the value there is DSC and APT hey sky? :)

[this_is_me] 13/8/2013 19:49

At this rate we will soon be at a 5 year high. I bought this for income at the start of the year. The capital gain is a nice bonus.

[skinny] 13/8/2013 15:25

These have certainly got away from me for now!