Segro Share Discussion Threads

[jonwig] 06/7/2018 14:04

Who'd have thought it?

A company built around the humble Slough Trading Estate is within reach of becoming the UK’s largest listed property group, riding on the boom in e-commerce that has sent demand for warehouses and former industrial property soaring.

[3rd eye] 18/4/2018 14:04

SGRO SEGRO Broker updates today after the update.

Segro SGRO Numis Add 628.20 626.00 681.00 681.00 Reiterates
Segro SGRO Peel Hunt Add 628.20 626.00--Reiterates
Segro SGRO Liberum Capital Buy628.20 626.00 650.0 0650.00 Reiterates

[jonwig] 16/2/2018 12:13

Peel Hunt, via FT Alphaville:

Segro’s FY results provide further evidence of the sustained
growth in industrial & logistics with impressive NAV growth of
+16.3% which is well ahead of Peel Hunt’s estimated growth
(+6%) and consensus (+9%). This further underlines the strong
investor demand, particularly in the UK where the portfolio
increased in value by +15.8%. Segro’s dividend yield of 3.0% is
lower than its industrial/logistics peers but with the shares now
trading around NAV, we increase our target price to 610p.

[jonwig] 16/2/2018 07:12

Annual results;



I tend to skip the details with this company, but NAV is 556p, and I think it tends to trade at a premium. Voids at 4%: I remember the days when it was about 10%.

[jonwig] 20/10/2017 05:55

Citywire:

Positive Segro pleases Numis despite share price premium

A trading statement from Segro (SGRO) left Numis Securities happy with the European real estate investment trust’s prospects, but a little concerned with the stock’s premium rating.

Analyst Robert Duncan retained his ‘add’ recommendation and target price of 580p as the shares slipped 2.5p to close 0.45% down at 551.5p.

Duncan said the update showed Segro ‘continues with its strategy of developing space into supply constrained markets which is also allowing it to capture reversion on standing assets’.

Although there has been a slight fall in rent renewals and reviews in Europe he said there was an ‘overall positive tone’ to the outlook.

‘The challenge from here is the high net asset value rating – 7% premium – and relatively low dividend yield of 3%,’ he said. ‘That said, we believe Segro is doing a good job of creating value and there is a positive momentum in earnings growth.’

[arf dysg] 17/8/2017 15:11

Segro should be ex-div today, 5.25p paid on the 29th of September.

[arf dysg] 26/7/2017 15:21

jonwig, that's strange, because now when I look at the LSE web site, the same link as above (post 482), it now has the news items including the most recent three, in particular including "Results for the six months ended 30 June 2017".

It definitely didn't have them yesterday, so maybe there was a blockage somewhere which has mysteriously been cleared.

I did explore the web site and under the "Prices & Markets --> Stocks --> all prices search" then type in SEGRO in the search box as you mentioned. I usually go a different route, and today both routes get the same news items.

[jonwig] 25/7/2017 19:19

IC on the results. Conclusion:

Segro is in the right place at the right time, and with the shares trading around forecast net asset value, there is plenty of growth to come. So we’re sticking with our buy tip (462.1p, 12 Apr 2017).

Last IC View: Buy, 462.1p, 12 Apr 2017

Also they say Peel Hunt reckons NAV of 525p at 31/12/17.

[jonwig] 25/7/2017 11:03

Arf - you do protest too much...

When you go to 'Prices and Markets' SGRO is in the 'Stocks' section - equities. The other announcements will be in the 'Debt Securities' section. Somehow secondary providers such as ADVFN and others manage to have them aggregated.

Personally I don't use the LSE for information unless I'm directed there, but they are the primary provider and charge the rest a princely sum for reproduction.

Yes, you do have a point!

[jonwig] 25/7/2017 06:23

Yup. And very good they are. But share price on a par with NAV - how much premium will the market take?

Good summary in this video:

[arf dysg] 24/7/2017 13:57

Results tomorrow?

[jonwig] 02/7/2017 06:43

Segro's bet on the bricks behind clicks has promise -

[jonwig] 05/6/2017 06:19

Telegraph:

SEGRO is set to launch a major new programme of development across the South East as it looks to take advantage of new rail and air links.

The company has submitted plans for four new industrial buildings at the Slough Trading Estate, as well as a new 200,000 sq ft building in Slough’s industrial centre.

Alongside this, it is adding to its SEGRO Park Bracknell development with a new phase of building totalling 150,000 sq ft.

In total, the buildings will cover almost half a million square feet and will be marketed to both start-ups and established firms in the manufacturing industries.

The firm hopes to take advantage of two new Crossrail stations in Slough, which are due to open in December 2019, as well as the proposed new runway at Heathrow, to attract firms out of London.

The new properties at the Slough Trading Estate will be built on a speculative basis, that is, without a tenant already in place.

David Sleath, chief executive of SEGRO, said building ahead of secure a leasing deal was the exception. “Most people will wait for a pre-let now as there’s not normally any benefit in building speculatively,”; he said.

“But we’ve always felt that to build speculatively if we’ve got the right product is relatively low risk.”

Around 40pc of the company’s development pipeline is being developed speculatively at any one time, he explains.

He added that a lack of land available to purchase meant the company was having to “work really hard to create opportunities” to develop new stock.

SEGRO was promoted to the FTSE 100 last week, having last dropped out of the top index in September 2010.

Shares in the firm closed at almost 1.8pc higher on the week at 501p.

[ygor706] 20/4/2017 15:07

92nd in list of largest UK market caps in latest published Sunday Times. Short term this could become the biggest driver of sentiment.

[jonwig] 13/4/2017 05:36

IC 'buy' tip this week (price 462p when written). Conclusion:

The recent rights issue is expected to push loan-to-value below 30 per cent compared with a target of 40 per cent. That leaves the group well placed to create value through its development arm. Meanwhile, cornering the cargo facilities at Heathrow is a major stroke, and while there will be some near-term dilution in net asset value as a result of the rights issue, the longer-term benefits could be considerable. Trading at a discount to forecast net asset value and offering a reasonable dividend, the shares retain their attraction. Buy

[jonwig] 07/4/2017 07:48

MCap £4.7bn. Nine FTSE100 constituents have a lower MCap. A shoo-in, if we're using racing slang!

[ygor706] 07/4/2017 07:40

Sp beginning to retain its poise after the recent rights issue. We must now be on the runners and riders board for FTSE 100 status at the end of June.

[sogoesit] 14/3/2017 13:11

Thanks, appreciated.

[sogoesit] 14/3/2017 11:31

Anyone have the ticker for the Nil Paid?
SGRON doesn't appear to work on my system.

[deanforester] 13/3/2017 18:40

Bear in mind that the cash raised will be used to pay off the bank loan used to pay for the purchase. I suppose it all depends when the rent on the properties falls due.

DF