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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Prospect EP. | PEJR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.455 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.455 | 0.455 |
| Top Posts |
|---|
Posted at 19/6/2009 12:26 by spacecake Well, just goes to show how stupid investors can be, at least one investor wants the fund wound up just when the Japanese Reit market starts to show some life.If investors could check out the underlying J-reits investment - they would find then rising at quite a clip. |
Posted at 23/1/2009 10:32 by mobox1 Although REITS have been decimated due to the lack of available finance in the current banking crisis, the news yesterday that the Bank of Japan "would buy corporate bonds and accept real estate investment trust (REIT) debt as collateral" is a significant development. If the fear of bankruptcy can subside and allow people to concentrate more the dividend opportunities in a strong currency, prices should rise substantially. The REIT Tse rising by 2.2% today against heavy falls in the Nikkei shows that re-evaluation is beginning and if you're a high risk investor, I think the PEJR valuation is low. |
Posted at 03/11/2008 19:36 by joan of arc As an aside support the Kill the Spread campaign. It is in all our interests!!See below :- www.killthespread.co October 2008 (2) Dear Supporter, We wrote to you earlier this month with details of the Kill the Spread campaign objectives - since then word has really started to spread! Below are the links to the latest news and articles written about the campaign over the last two months. Were you aware that the London Stock Exchange is facing a High Court claim of anti-competitive behaviour from Plus Markets?? Change we need.....so what's next? Since we last wrote to you, we have been approached by several brokers, wanting to know more about the Campaign and offering their assistance! We were very encouraged by this it's comforting to know we aren't the only ones complaining about the AIM and its Market Maker system. It's killing their business too! We have learned a lot from their perspective on the way the AIM works and have now started discussions on some interesting initiatives including: 1/ Ways of creating an alternative Broker account for AIM shares, which could effectively cross stock between buyers and sellers, bypassing Market Makers and avoiding spreads. 2/ Creating a "ring-fenced" nominee account, offering guarantees to shareholders that their stock will not be loaned in the Market to cover short selling. We think these could be very compelling propositions for Investors and any views or feedback you could give us on this would be very helpful; info@killthespread.c We are also discussing ways forward to achieve the big systemic changes we are looking for with Direct Market Access, and we hope to be able to update you shortly with some very interesting developments. We are finding that there is a willingness to listen to the voice of the Private Investor, but to turn these initiatives into constructive measures, we need to prove we have sufficient numbers behind the Campaign.......... and this is where you come in! Hitting those Numbers! At this crucial stage your support is essential and we are now asking you to make a really big effort on behalf of Kill the Spread..... As a growing grass roots movement, we are now being taken seriously. We want our demands to be implemented as soon as possible and the only way we can ensure this happens is to prove beyond questionable doubt that a significant number of Private Investors are totally dissatisfied with the way the AIM market currently operates and are demanding change. In simple terms - we need to get the numbers up - and fast! 5,000 supporters = ACTION! Our target is to get to up to 5,000 supporters. We're getting there but we need to get there quicker!! We are currently up to just over 1,300 supporters on the Poll - so there is still a way to go. We are getting publicity but we really need the word to spread......So please, make sure you tell as many Investors you know about Kill the Spread. You can spread the word in the many ways: Talk to others Investors about the campaign Post a link to the site on your Blogs Post a link to the site on Bulletin-boards, Tell people in you Share Club/Investor Group Tell Everyone!! Ask people to sign up at the website and get them to complete the on-line poll it won't cost you anything and will only take a few minutes of your time. Help give us a real push and remember if every supporter brings in just 3 new supporters - our numbers will quadruple!! We are now on the brink of making a real difference for all Small Cap Investors - so a big push for more supporters right now is just what we need! Thank you once again for supporting Kill the Spread with your support change really is possible! Kind regards Campaign Coordinator Kill The Spread www.killthespread.co info@killthespread.c Please email us at info@killthespread.c Recent News: The London Stock Exchange is facing a High Court claim of anti-competitive behaviour from Plus Markets Great Article by Tom Bulford another mention from Dominic Frisby (mention is at the end of this article) |
Posted at 24/9/2008 16:08 by isa23 what do u mean? It's called Re-plus Residential because Re-plus is the manager. Now that Re-plus is under it will probably be called Oaktree Residential, or whoever becomes the new manager. Interesting that Re-plus Residential (8986, the one we own) recently sold shares to new investors like Oaktree to pay back debt, buy new properties, so no chance of them going bust (YET). |
Posted at 22/9/2008 14:18 by jonwig Dated 8 Sept:When property markets turn downward (or upward) investors tend to lump REITs, physical real estate and stocks in real estate companies all in the same basket, i.e., real estate plays, and avoid the lot. The Tokyo Stock Exchange J-REIT Index is now down a whopping 52% from a mid-2007 peak, and up to 90% of the 42 listed REITs are trading at a discount to NAV. There is no denying that credit has dried up for real estate developers and the number of property transactions has dropped off sharply. This is a double whammy for newly emerged real estate developers whose business model was dependent on a) readily available credit and equity, and b) active trading in real estate properties. As a result, many are failing and will continue to fail. The J-REITs with the highest discounts to NAV are those whose sponsors are also the designated management company, and investors are leery that a failure in the management company/sponsor will negatively affect the J-REIT. However, some discounts to NAV more than account for what is actually limited risk to J-REIT holders from such an occurrence. On the other hand, the deep discounts to NAV are attracting foreign value investors looking for ways to acquire or consolidate deep discount REITs to obtain their properties for less than current market values. Despite the recent plunge in J-REIT unit prices, foreign investors and domestic J-REIT fans believe there is still a lot of REIT secular growth potential in Japan. Japan's J-REIT market is still miniscule relative to Japan's property market, and to Topix market cap at under 1%. In Australia, REITs are equal to 9% of the ASX, and they are 2.8% of the S&P 500 in the U.S. Where else in the developing world, much less a major city, can you find yield spreads at 5% and above? It was this level of yield spreads which first attracted foreign investors to Tokyo before the mini property bubble, when the foreign investment banks and `vulture` funds last started looking at Japan and spurred development of real estate securitization. Thus to value investors, J-REITs are looking pretty good. |
Posted at 02/9/2008 19:35 by jonwig INTERVIEW-Prospect sees more foreign funds buying J-REITsOverseas investors are eager to snap up Japanese REITs, most of which are trading below their book value. TOKYO, Sept 2 (Thomson IM) - U.S. investment firm Prospect Co said it expects foreign funds to launch more bids in the battered Japanese real estate investment trust (REIT) market as it considers selling part of its own struggling REIT. Prospect Chairman Curtis Freeze said overseas investors are eager to snap up Japanese REITs, most of which are trading below the value of the property on their books due to weakness in the property market and the global credit crunch. Prospect Residential shares today closed at 211,500 yen, or only about half the 461,000 yen that would represent the value of its total investments of 34.6 billion yen divided by the number of shares. Freeze pointed to a bid last week by Oaktree Capital Management for a higher stake in Re-plus Residential Investment in the first tender offer for a REIT in Japan. Funds like Oaktree are likely to go after several deals, he said. 'If they decide to get involved in Japan, maybe they will do four or five REIT takeovers,' given that each deal is small for the size of the fund, Freeze said in an interview. Tokyo's REIT index has lost more than half its value since a peak last May. The companies managing REIT assets are struggling to raise the funds they need to growth amid turbulance in the property sector and credit markets. Prospect is also exploring two options in its efforts to exit a Japanese REIT -- the sale of its stake in the management company of a residential real estate trust Prospect Residential Investment Corp , or assets held by the trust, Freeze said. It is very difficult to restore the stock price, Freeze said. A recovery in Prospect Residential's stock after a potential sale or better returns for investors from the sale of property may encourage investors to go back to the real estate investment trust market, he said. Freeze also said major foreign funds are likely to purchase shares in Japanese REITs as prices have come down to attractive levels. Most funds, however, prefer to have assets held by REITs, not holding direct control of management of the real estate trusts, he said. Prospect holds about 35 billion yen ($323.2 million) worth of shares in 15 Japanese REITs, including FC Residential Investment Corp and Japan Single-residence REIT Inc. 'It is important to buy REIT shares now when they are cheap because when the assets are sold, or REIT managers are sold, there is a good chance for capital gain,' Freeze said. Prospect is the parent of Hawaii-based Prospect Asset Management. |
Posted at 25/6/2008 18:47 by courant Interesting discussion guys, this has got to be one of the most informative discussions I've seen on advfn, a credit to everyone here!I'm having a very serious look at PEJR - I'm very attracted to the idea of holding a income producing asset in Yen as a diversifier, and there seems to be a major valuation anomaly going on with this asset class as a whole. It seems the main drivers that are going to force valuation changes (aside from the soft activism and M&A activity the fund talks about) are: stability of rental streams; performance of the japanese domestic economy; japanese inflation, which may force domestic investors out of safe assets into higher yielding ones. Of these, only the last one is really linked to the credit crunch, and that in a positive way - Japan is possibly the only developed economy where inflation may well be a good thing and provide a bit of extra stimulus! Looks a very good diversifier to me and one which may see attractive returns. the analyst - have you looked at other investment trusts to get exposure to other markets and/or exotic assets and/or safe havens not available via ETFs? Like: SVM Global (emerging europe, exotics); Ruffer (safe havens); RIT Capital (broad diversification); Hansa (strong emerging/commodity focus); JZ Equity (N American unquoted).... there are more! Courant |
Posted at 25/6/2008 15:51 by the analyst Thanks, a few for me to take a look at there, ISAPreviously, I've only really focussed on individual small cap AIM stocks (apart from my Split Cap mission in 2003), but am looking to diversify. Even though I'm a professional investor, there is still a limit to how many stocks I can track, so diversifying some of the portfolio into high dividend funds and getting someone else to do the work where it's an area I know very little about could be a good way forward |
Posted at 12/6/2008 22:49 by joan of arc Thanks I & W but the graph looks horrible. From what you say these small illiquid companies that they hold are clearly not attracting any interest from other investors. I guess one needs to be alert to their viability or at least their ability to pull out of their respective nosedives. |
Posted at 12/6/2008 12:50 by isa23 Joan of Arc, most of the underlying shares are smaller companies, which are illiquid & volatile as well as deeply unpopular (remember Livedoor a few years ago??). They go up and down by 8 to 12% sometimes on no volume at all, sometimes on a 100 share buy or sell orders. They seem to have bottomed out recently, hence the static NAV of around 43p. You can monitor their daily permormance by typing in their codes on this very website (eg, 3227, 8970, 8975, 8963, 8965, 8969 etc). Pejr gives regularl updates on its holdings. Interestingly most were unchanged today, so the fall is more a reflection of pejr's investors giving up hope of a rise in NAV anytime soon. My advise: buy a small amount & enjoy the divi. If it rose too fast, reduce but never sell altogether. If it fell (I mean 15-25% from buy price) top up a bit. It's worked for me. |
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