Quadrise Share Discussion Threads

[quepassa] 22/9/2014 11:49

Haven't got time to do the research if you are meeting QED today.
Their Annual Report should set out their comparator list. That'seasy to find.

It can be enlightening to :-

1. See just how many of the comparator list pay dividends ( I did this research some months back and I think they all did - bar one or two. And one of those companies had a dividend policy which was share buybacks rather than cash).
This reflects dismally on Quintain and their "harvest" which is nowhere in sight.

2. The premium/discount to NAV of these comparator companies which - if memory serves correctly- reflects very poorly on QED.


ALL IMO. DYOR.
QP

[jaws6] 22/9/2014 11:46

hxxp://www.bpf.org.uk/en/reita/performance/epra_uk_index_nav_discount.php

[jaws6] 22/9/2014 11:40

I am not happy with them as they not listening to PI for long time and price has not gone any where,we would have been better off with any other property trust rather then this QED in last few years.
I do hold this .

[jaws6] 22/9/2014 11:38

david
I wish I knew this in advance.I would have come with you.
one thing you shuld ask them is how come PCA made good money of their sale and not QED in last sale to pca.
And PCA made money out of it and not QED ? Why ?
trying to get list list for you .

[davidosh] 22/9/2014 11:17

Does anyone have a list of comparator companies and how their NAVs have increased over the last five years ?

I will let the directors show me their list for comparators in the remuneration stakes

[alan@bj] 22/9/2014 10:39

You make several excellent points QuePasa

[911man] 22/9/2014 10:37

I think that latter point is right on the mark. The assets would fetch an extremely good figure and if management can't show that they can produce results, I am sure that this will happen. The whole package is quite tidy now, so I think that management will have to be careful. Quite amazed that someone is selling this down (including Kempner which shows zero faith)without management action/ placing.
All in all, very disappointing.

[quepassa] 22/9/2014 10:07

Cannot unfortunately as currenty away. - Slightly short notice as only saw your post today.


Please question the Remuneration Committee as to whether the performance criteria have back-fired.

I ask myself the following question. Did the performance criteria overstimulate management to reduce gearing and thereby max out one/some of their bonus targets at the expense of selling off too much of the Company?

More emphasis needs to be placed on reducing the disco-to-NAV. The management performance criteria need to be further re-aligned to reflect this.

A performance criteria needs to be put in place regarding early resumption of dividend.

Max James spoke of and likened the prospects a shareholder dividend to (waiting for) a "harvest".

It seems to me that the only apparent harvest is the bummper once being enjoyed right now by management with enormous bonuses based on picking off certain performance criteria targets rather than, in my opinion only, taking a holistic approach to all the targets.

In terms of a shareholder dividend being described as a "harvest", I would liken it more to a famine of biblical proportions.

It remains unfair ( if not poor corporate governance in my view) that management walk off with massive bonuses and that shareholders are yet again stuffed. This is unfair to shareholders.

Not only no dividend but the markt also seems to be increasingly disenchanred with Quintain's performance given the dramatic recent slide in share price and alarming widening of discount-to-NAV. - This needs to be addressed by the Rem Committee.

Maybe shareholders would be better off if Quintain put themselves up for sale.


ALL IMO> DYOR.
QP

[davidosh] 21/9/2014 17:03

Do any of you want to meet the chairman of the Remuneration committee with me tomorrow afternoon in London as I have been granted a meeting and I think other shareholders may want to voice their remuneration concerns with me ?

[trytotakeiteasy] 15/9/2014 16:09

jlo10 - starting to think that the management at these companies is rubbish (small cap property developers)... just using it as cashcows to milk...

[jlo10] 15/9/2014 14:30

Nigel Kempner, Investment Director, has notified the Company that 1,750,000 Quintain shares held on his behalf have been sold.
The shares were acquired by Mr Kempner under a deferred consideration arrangement following the acquisition of Grafton Advisors by the Company in 2012. Mr Kempner retains 1,017,738 shares in the Company, representing 0.19% of issued share capital.


That's not the best news - hopefully no other directors will follow suit

[quepassa] 13/9/2014 08:05

12th. Sept.

Barclays issue broker note and REITERATE their OVERWEIGHT recommendation and INCREASE the TARGET PRICE (from 130p) to 138p

[r ball] 06/9/2014 20:25

Indeed. The company has 2 focuses: wembly and (for post wembly) office asset management.

[ntv] 06/9/2014 13:07

sitting at a significant discount to net assets this looks a cheap way to get expose to the London property boom. but management style is not to a liking of several larger shareholders. keeping hold of some the residential development is a strange thing to do to some . the yields are low and high costs of borrowing re enforce the point. the company has got to prove itself to the markets or it will broken up. plus it pays no dividend

[r ball] 05/9/2014 12:31

Big institution shifting stock. the price of 85p could be a good one if NMS is 84p. so not necessarily bad.

[alan@bj] 05/9/2014 10:56

Two big sells.

[sammu] 05/9/2014 09:32

High volume here today.

[high park] 21/8/2014 19:27

Continues to disappoint.

[rochdae] 16/8/2014 22:56

Slow burner this. But I remain patient.

[r ball] 15/8/2014 15:12

Seems to be climbing the wall of fear!

[richard xii] 12/8/2014 12:57

The market is strong for resales but there is no sign that much decent new stock will be added in the next few years.The UK economy will continue to suffer from poor investment, stagnant productivity, a diminished banking sector, poor skills and education, poor infrastructure, a bloated government sector producing little of value, an overvalued exchange rate and the self-imposed multi-decade depression in the eurozone. But people will need a roof over their head and house prices can be bid up for a bit longer.

[quepassa] 12/8/2014 08:02

Is the UK Housing Market strong or not?


The complete and up-to-date situation from the well-respected and unbiased source of The Council of Mortgage Lenders.

This is an extract I like:-

Quarterly highlights:
##In the second quarter as a whole, there were 79,900 first-time buyer loans - 17% up on the previous quarter, and 24% up on Q2 2013. In the second quarter as a whole, first-time buyers borrowed £11.5 billion - up 12% on the previous quarter and 34% on Q2 2013.


The full article:-





First time buyers on the march is a strong indicator.

Although re-mo's and btl continue to do pretty well.


ALL IMO. DYOR.
QP

[quepassa] 08/8/2014 15:16

Investor Chronicle today says BUY on Quintain:-



ALL IMO> DYOR.
QP

[quepassa] 08/8/2014 15:13

Propertyweek reports that Quintain lands anchor tenant for south-east corner of LDO.

New tenant reported as fashion retailer, Next



ALL IMO. DYOR.
QP

[alan@bj] 08/8/2014 09:41

Is that date for first completions - first half 2016 - correct? It seems a long way off.