Quadrise Share Discussion Threads

[scottishfield] 14/11/2013 12:17

better looking chart now, added.

[badtime] 13/11/2013 17:56

And now back down again...hoping 90 will hold for another assaulting 100..if not...

[cockneyrebel] 12/11/2013 10:48

Price firmed up since that 1.2m trade yesterday - I reckon that was a seller getting the last of his lot away imo.

CR

[cockneyrebel] 08/11/2013 16:05

TIDMQED
RNS Number : 6054S
Quintain Estates & Development PLC
08 November 2013
Quintain Estates & Development plc
8 November 2013
Quintain Estates & Development plc
Notice of Interim Results
Quintain Estates & Development plc will be announcing its results for the six months ending 30 September 2013 on Monday, 25 November 2013.
Meeting and conference call
A meeting for analysts and institutional investors will take place at 9.00 a.m. on 25 November at The London Stock Exchange, 10 Paternoster Square, London EC4M 7LS. Participants should register for the event by contacting Charlotte Whitley on [phone] or at [e-mail].
The meeting can also be accessed via a conference call dial in facility using the following details:
Participant dial-in numbers
United Kingdom (Local) 020 3059 8125
All other locations + 44 20 3059 8125
Password Quintain
In addition, a live webcast of the presentation will be available on the Company's website at www.quintain.co.uk.
Enquiries:
RLM Finsbury [phone]
Jenny Davey
Charlotte Whitley
This information is provided by RNS
The company news service from the London Stock Exchange
END
NORUWUSROWAARAA
(END) Dow Jones Newswires
08-11-13 1600GMT

[dov] 08/11/2013 14:45

looks like a couple of large sells at least 800K and 300K depressing the price.

[maddox] 07/11/2013 15:44

JP Morgan really stuck their necks out with a 110p share price target! The currently stated NAV is 110.6p. So essentially, their view is that the current 20% discount to NAV will close.

[cockneyrebel] 07/11/2013 14:30

110p target:


1420 GMT [Dow Jones] JPMorgan Cazenove upgrades Quintain Estates & Development (QED.LN) to "overweight" from "neutral" following the sale of the company's stake in Greenwich Peninsula Regeneration Ltd. JPMorgan says prior to the Greenwich disposal, nearly 50% of Quintain's assets were in non-income producing development land. Post-transaction, says this falls to a more sustainable 28%. Says for the first time in years, Quintain holds its destiny in its own hands, with strategy no longer dictated by the balance sheet. Adds the sale reduces the loan-to-value ratio from 43% to 25%, a key positive that JPMorgan thinks should be emphasized over and above the short-term issue of reduced leverage to a booming London housing market. Ups target price to 110p from 100p. QED shares are +1.9% to 92p today.([e-mail]; Twitter: @NinaBains1)

[cockneyrebel] 07/11/2013 10:30

*DJ Quintain Estates & Development Raised to Overweight From Neutral by JPMorgan Cazenove

So the upgrade is to 'Overweight' which is a strong move from neutral - can't find their target price yet.

CR

[maddox] 07/11/2013 09:50

The share price movements reveal an adverse reaction to the disposal of Greenwich Peninsula. Some investors appear to be disappointed by the loss of potential NAV growth and fee income.

True, but the disposal is a very good exit deal for what is a minority holding. QED has added significantly to the value of the Greenwich site which has allowed QED to secure a good price from Knight Dragon.

This deal accelerates the transformation of QED by fixing the balance sheet well ahead of schedule. Just as significant, it allows QED to focus its capital on developing Wembley - a huge opportunity that is just as attractive as Greenwich. With the added benefit that it has full control.

This deal positions QED well for the next stage of QED's transformation that will be the rebalancing of its income profile.

This deal reduces QED's risk profile, accelerates its development schedule, and brings closer the re-establishment of dividend payments. IMHO the perception of this deal will become positive as the implications become evident. This dip in sp, is I believe temporary.

Regards Maddox

[dov] 07/11/2013 09:25

did jp morgan give a price?

[quepassa] 07/11/2013 08:56

Well-regarded JPMorgan analyst Tim Leckie and CEO Max James interviewed/ quoted in recent WSJ article. Some extracts:-

- Still, Mr. Leckie said the cost of trimming Quintain's exposure to rising house prices is outweighed by the benefit of cutting the company's debt, which he said means Quintain can now develop the Wembley project from its own balance sheet if necessary.

-The deal will also allow Quintain to invest in other projects, with Max James saying the company is likely to announce further investments in the next six to seven months.

-"We didn't have to sell it, but it allows us to do more up at Wembley," said Chief Executive Max James in an interview with Dow Jones. "The additonal capital allows us to be more ambitious in the quality of the site, and the speed with which we can bring residential forward."

Full article:-




ALL IMO. DYOR.

QP

[cockneyrebel] 07/11/2013 08:24

Great bounce point on the chart for that bowl to continue imo.

Cheers jaws2 :-)

CR

[jaws6] 07/11/2013 08:11

Upgrade by J P Morgan

[scottishfield] 06/11/2013 16:54

yes, i've been buying in the last 2 wks so im not in great shape currently, but happy to hold for a year.

[dov] 06/11/2013 16:51

sure hope so!

[scottishfield] 06/11/2013 16:49

Dov, yes, it's a buy now !

[dov] 06/11/2013 16:47

Share price now down 10% in last week.

[jlo10] 06/11/2013 15:34

Retail Times
hxxp://www.retailtimes.co.uk/london-designer-outlet-attracts-200000-shoppers-first-10-days-opening/
Seems positive
__________________________________________________
The new London Designer Outlet at Wembley Park has attracted over 200,000 shoppers since it opened 10 days ago.

The centre recently hosted the inaugural Sitare Festival – a colourful, vibrant, exciting day out celebrating the best of creativity and talent in London. The event, which will become an annual fixture in the Wembley calendar, has been commissioned by the team behind London Designer Outlet to celebrate its launch with the local community.

[alan@bj] 06/11/2013 13:31

View from Investors Chronicle on Greenwich sale:-

Quintain has agreed to sell its share of the vast Greenwich peninsula regeneration project for £230m. The company used to own the site jointly with the Australian developer Lend Lease, but in June 2012 Lend Lease withdrew and a new joint venture was signed with Knight Dragon, a vehicle owner by Hong Kong billionaire Henry Cheng Kar-Shun. Now Knight Dragon is buying out Quintain's minority stake, crystallising a £34.6m or 7p a share gain for the UK developer. Chief executive Max James says that reflects progress on planning, above all a reduction in the site's affordable housing requirement.

The funds will cut net debt by nearly half, putting Quintain in a much stronger position to start building housing on its site around Wembley stadium. Having opened a long-awaited discount fashion mall last month, the company will now start work on the first 470 homes of its 5,000-home masterplan, says Mr James.

SHARE TIP UPDATE:
At 94p, Quintain's shares are up 65 per cent since our tip (Buy, 57p, 11 Oct 2012), but still trade at a discount to book value, which broker Peel Hunt now expects to be 113p next March. With no sign of a slowdown in the London housing market, buy.

[scottishfield] 06/11/2013 08:13

Yes tks QP

[alan@bj] 06/11/2013 08:12

Thanks for your comments QP.

[quepassa] 06/11/2013 08:02

The official Circular and Notice of General Meeting about the sale of Greenwich is now to be found on the Quintain web-site.

Of particular interest in my opinion is Section 6. Page 7 re the Current trading and prospects of the Group.



Some points from this which in my view are noteworthy and encouraging. They may offer some update on the 7th August IMS and prior to the imminent 25th. November release of first half-figures:-



- Overall market conditions for Quintain in first half 13/14 ACROSS EACH OF THE SECTORS in which it operates HAVE PROVED MORE ROBUST than in the comparable period last year.

- IQ student accommodation vehicle has begun the 13/14 academic year with lettings at 99.5% ( versus 96% ). Average rents up 2.7%

- the 7th. August Interim Management Statement highlighted achievements at Greenwich, Wembley and the strong letting performance at IQ. SINCE THEN FURTHER PROGRESS HAS BEEN made THROUGHOUT THE BUSINESS.

-The new 15 year agreement with AEG to run Wembley Arena will have a POSITIVE IMPACT on the VALUATION OF THIS ASSET.

-For the last year ended March 2013, Sequel made a loss of £11.8m. On 21st October 2013, Quintain completed the sale of this business



Additionally, with debt due to fall from some £400m to significantly less than £300million within a short time-frame, the major reduction in financing/interest costs hitherto borne by Quintain will fall to a much lower level whill will boost profitability.



Looks like Quintain may be shaping up to produce some very encouraging half-year figures later this month on 25th. November. And particularly for the full year in due course.


Having achieved so much of their clearly stated three phase corporate strategy way ahead of time and now into the 3rd GROWTH phase of their strategy ( of which de-leveraging to less than £300m was a cornerstone), Quintain should no longer have any excuse other than to go forward with their other stated objective of Shareholder Returns.

Sooner rather than later, one hopes.



ALL IMO. DYOR.

QP

[scburbs] 05/11/2013 09:14

Out of the £230m, £44m is just the payment of amounts already due. This means they have sold property assets of £155m for £186m. This is a profit of 20% over book.

It only moves NAV by 6.4% as the Greenwich property assets were less than 20% of the group assets.

The premium over book is significant. Would I rather they had held Greenwich and JV'd Wembley? yes. Is it a solid deal for a company still trading below NAV? yes. Do they still have substantial development assets where future value can be derived? loads (albeit rather concentrated!).