Segro Share Discussion Threads

[damanko] 26/1/2013 00:36

Bonjour Sky, encore....

My feeling on SEGRO is just that it has moved some of its business emphasis to Europe over the last few years - when the sector over there is close to rock bottom. Just look around you, at zones industrielles (sic)etc.

Like most things in life - these things move in cycles. In a few years time I reckon the strategy here will give decent returns, in terms of NAV.

So I'll stay a holder for a few more years. OT - am seriously thinking about offloading some PIN, I think - after 24 years of holding - the price has never been quite this high.

[skyship] 25/1/2013 14:44

Hi damanko - interesting that you should be positive on European commercial property. Any particular country (ies)?

I'm a bull of German property because of the rush of cash into the country; and also into the sector as the one high-yielding investment available.

To my mind APT is a great way to trade that play - in voluntary liquidation yet standing @ c33%-38% NAV discount; so my spreadsheet suggests we are looking at a Gross Redemption Yield of minimally 14%pa to, say, 30th Jun'15.

TEIF also showing signs of life...

[damanko] 25/1/2013 13:50

philanderer, you seem almost alone here .... but keep up the good work. Am a long term holder, I took up the rights a few years ago and in profit. Like you I believe there is more to come. Over the next year or two - especially in Europe.

[philanderer] 25/1/2013 09:16

25th january Oriel Securities 'add '

reiterates.

[philanderer] 24/1/2013 11:39

IQ Winnersh attracting new tenants

January 24, 2013

In spite of all the troubles of the business and property worlds, IQ Winnersh attracted eight new tenants in 2012.

The SEGRO-owned business park has been redeveloped in recent years and is now one of the few locations bringing Grade A office space to the Thames Valley.

The major names already there have helped build a reputation which has, in turn, helped attract more big names in recent years.

The total is now 40 including Virgin Media, Jacobs, QlikView and Harris Systems representing IT, defence, engineering and communications.

Around 3,000 people are employed on the park and which now plays host to impressive facilities.

Park owner SEGRO now offers a landscaped setting, its own train station, a four-star hotel with a gym and swimming pool, cafes, shops and now even a children's indoor play park.

And at the beginning of last year, QlikView – provider of data management software to business – moved into IQ Winnersh's landmark development, Building 1020.

article:

[philanderer] 21/1/2013 23:15

Thames Valley: Global property practice to move into IQ Winnersh

SEGRO has announced that Rider Levett Bucknall UK and UK Bi Fold are moving to IQ Winnersh Business Park. Rider Levett Bucknall UK is a global property and construction practice with more than 100 offices across Asia, Oceania, Europe, Middle East and the Americas. The company will occupy a 2,500 sq ft office suite on a 10-year lease at 1000 Eskdale Road.

[philanderer] 21/1/2013 13:44

Investec retaining 'buy' and increasing tp from 250p to 260p

[philanderer] 17/1/2013 16:02

SEGRO fills up Infinity data centre

SEGRO has completed the construction of a 125,000 sq ft data centre for Infinity, the data centre's first purpose-built facility, at the Slough Trading Estate.

Infinity has entered a 25 year lease following the completion of the building, which was fast tracked by using a unique Simplified Planning Zone status which is applicable to these projects on the Slough Trading Estate.

David Sleath, chief executive officer at SEGRO, handed the building over to Infinity SCD's CEO Stuart Sutton at a handover event on 15 January 2013.

[philanderer] 15/1/2013 09:20

15th january Barclays 'equal weight' tp 270p ..(cut from 311p)

[philanderer] 14/1/2013 10:15

14th january Soc Gen buy tp 290p

[philanderer] 12/1/2013 09:10

From a week ago

Segro eyes Edmonton hotel and business park

Industrial property developer Segro has submitted proposals for a 15-unit business park and 96-room hotel on land off the North Circular Road in Edmonton.
According to the application, the development is expected to bring 200 jobs to the site, which borders Meridian Way and Advent Way.

The 15 units would be split into three blocks, with approximately half of them boasting mezzanine floors, while the hotel would cover five floors and include a restaurant, bar and conference room.

In the application for full planning permission, submitted by agents Drivers Jonas Deloitte, the proposals include landscaping work to the current industrial site and the addition of 190 parking spaces.

Access would be from Advent Way.

Enfield Council has yet to schedule a planning committee hearing for the scheme.

[philanderer] 10/1/2013 11:59

Good point re those brokers SKYSHIP and I would say no.

In fact I`d say sometimes with a negative recommendation it seems that they`re even trying to get their clients into a share at a lower level or giving a positive one to let them out at a higher price.

And then you have the House brokers who rarely give a negative call on a company.

[skyship] 10/1/2013 09:14

hmm - perhaps Jefferies read my 397 above!

[skyship] 10/1/2013 09:12

philanderer - as a dead serious question; have you found any direct correlation between broker forecasts and actual outcomes?

One might expect them to have a bearing on sentiment; however it seems to me only rarely if ever that a broker update has any real bearing on institutional appetite.

When a broker comes out with a new research document, that might bring in the orders. But an update. No. Nor did it ever when I worked in the City back in the 70s.

[philanderer] 09/1/2013 09:12

9th jan Deutsche Bank buy tp down to 310p from 330p
9th jan JP Morgan Caz overweight tp up to 280p from 270p

[philanderer] 08/1/2013 16:25

8th january Liberum hold tp 242p

retains

[philanderer] 08/1/2013 16:16

Segro Falls the Most in Five Months on Declining Portfolio Value

[philanderer] 08/1/2013 11:31

I`m holding on, this is one of my steadier holdings, just can`t seem to get a handle on this market at all :-)

8th january Peel Hunt ' buy ' tp 260p

retains

[skyship] 08/1/2013 09:29

EPRA NAV down to 295p - seriously disappointing IMO.

SGRO likely to be an under-performer throughout 2013 as it drifts down to more acceptable discount levels:

20% NAV discount = 236p
25% NAV discount = 221p

ie, a drift back to the H2'12 lows would seem to be on the cards.

This has always been my preferred major - hence it's in the Header of the CP+ thread. However, for better share price prospects in 2013 - take a look at CIC on a 46% NAV discount - write-up on both the CP+ & the CIC threads.

[jonwig] 08/1/2013 09:23

The current share price doesn't have much to go for in the short run, with a NAV of 295p and property markets flat at best.

The yield is worth having while waiting.

[philanderer] 08/1/2013 09:18

8th jan Espirito Santo neutral tp 247p

reiterates

[philanderer] 08/1/2013 08:51

"......Based on the preliminary results of the independent year end portfolio valuation, the overall value of the Group's property portfolio is expected to have declined by approximately GBP180 million in the second half of the year.