results due. I will await them but then I think I will open a short. This is still way overvalued on an NAV position. It could I think fall below £1 |
It's a long time since I held any serious shares, and I'm in the fortunate position to have a few bob knocking around in various bank accounts making sure I don't exceed the joint £70k protection.
Given my current state of pessimism for the economy, I have just been thinking how safe is the £35k protection anyway? If it is only as safe as it is convenient for our beloved government to say it is safe, then I would like to know which our banks could be considered the safest.
Which banks have the lowest loans/savings ratios? Is there a better measure of safety? Where can I find this information?
TIA |
I think you are right. BYG took a hit, so why not SAFE? Aren't it's properties now worth a bit less? SAFE also has a lot of debt, though, as with BYG the freeholds add security. |
remains way overvalued in my book |
safestore got a mention in this weeks shares magazine |
just looked at this share today, fair divi, good pe, interested because i think this sector has potential to grow, i have also seen byg their growth seems rapid, share price seems to be marked down on falling property prices, although i don't think this evalues the initial business.
Hybrasil?
tudo bem? voce sabo o brasil? eu sabia cidade de sao paulo, e campinas. minha namorada esta uma brasileira. |
hybrasil :-
I was looking to put some money here until I heard what a friend of mine told me about his experience at one of their store in Ladbroke Grove. It was in absolute state, leaks every where and lots of water puddles and they were the most expensive, so he went else where. I am glad I didn't put my money here, since than they have lost about 30% and since than i have seen there store in Acton, looks like building going to fall a part any moment. Again found them more expensive than Access and Shurgard. Access, which is Opposite to them and far better building. So I don't know how good their property Valuation is. I am staying away for now. With current housing market, I think its only matter of a time we should see them around £1 mark....IMHO
Amo |
I find their value uplift very surprising.
However they have been very resilient at this price. I still believe they will go to a discount to NAV. |
They have had years of revaluing properties upwards - they find it a little difficult going the other way |
You may be right. Sentiment is more negative again. |
I suspect you will see a sharp downward correction in this price shortly |
hybrasil:
The 1 pound is coming. |
Take £100 million off the value of the properties.
Why yesterday I was offered property in the centre of Glasgow at a 20% discount to the price of 8 weeks ago.
The majority of safestores property that I have seen are in secondary locations
This gives a property valuation of £398 million. The liablities (excluding the deferred tax liabilty as presumably that wont apply given the reduction in value) come to £340m. That doesnt leave a lot of equity. I stress that this is my look at the accounts and I could be completely wrong |
its still coming |
£1.00 coming. |
I've just returned to this & realsied it may well not be clear.
I owned shares in Safestore three(ish) years ago before it was bought be management.
At the time, I was very disappointed as I felt that the management got it for a song. |
I used to own these before.
At the time, I complained long & hard that management were getting it on the cheap.
Anybody have any idea how the value now compares with the price it was taken private? |
Not far off 1.47 today. Yield is rising. |
Those options are a completye disgrace. £1.47. If thats what the directors think these shares are worth I am not far wrong on the price |
I look forward to the lower price. |
AT a share price of £1.00 this would yield 4.5%. Thats about right. I have since the start of this thread said this share is way overvalued. Stupidly I doide not follow my own advice and short it which I will now do. With falling property values this can only go one way. |
I would venture to suggest it will be many years before this reaches £2.40 again. If you go to old fashoned vales this should be at a discount to £1.01!! |
Yeah 2.40 seems a long way off now, but it was only earlier this year. D'oh. |
And still it falls |
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