Segro Share Discussion Threads

[l.parker] 24/4/2008 16:38

Is there anyone out there? I would dearly like to hear other suscribers
views on this board. It can get very lonely at times! Surely you must
frustrated,as I am. When you hear that MD is saying he will take the
roofs of his empty warehouses, to avoid rates, it makes you wonder what
sort of Co. this is.

[l.parker] 24/4/2008 11:13

When is this downturn going to stop,what is happening at Segro,anybody
know? I've Emailed but they do not reply, They never answer their emails
Obviously they do not care!

[l.parker] 16/4/2008 09:55

Why are Segro directors selling large chunks of their shares,
are there problems at Segro?

[l.parker] 05/3/2008 15:51

Some encouraging northern movement,lets hope its going to continue.

[jonwig] 17/1/2008 19:53

The divi should be boosted by part of it being a PID (rules for REITS).
And if you hold it in an ISA, the 20% tax can be reclaimed from that.

[deanforester] 17/1/2008 17:27

Well, last year was 8.3p interim and 12.1p final.

I don't try to forecast the results.

I see favourable comment in today's Daily Telegraph.

TJH

[gsands] 17/1/2008 11:40

I've been looking at this REIT because it seems to have one of the nicest looking charts.

Can someone tell me what the full year divi is likely to be for 2008?

[l.parker] 15/1/2008 16:44

I was a little disapointed today,I had to divert through an Ind Estate
in the S/West London, where I live and I came upon a Warehouse development
extremely large modern,that was built last summer, the sign outside said too
let apply SEGRO. It was completely empty. Sign of the times I suppose!!
I emailed Segro & asked them if they had any prospective takers, they have'nt
replied. I still think they're the best value share wise. At least when the
downturn reverses they will have top quality premises available.

[ilancas] 14/1/2008 17:44

And with takeover potential.

[l.parker] 14/1/2008 09:51

Lets hope this share is reaching a stablised level.Got to be the most value
for money,amongst the industrial property companies.

[asl1978] 10/1/2008 08:58

Can anyone tell me why I shouldn't take a position in these? Even allowig for a 20-30% mark-down in the value of the property they hold they are still trading at a decent discount to NAV. The likely dividend rate would give you a 5% return if you bought in at 400p....
I know that there is uncertainty but they are very well capitalised and the outlook is good for them and they should see a rise in the yields of any new properties that they buy....

[sscrabble] 22/12/2007 01:17

SEGRO ENTERS MUNICH MARKET WITH EUR113m SALE AND LEASEBACK




2007-12-21 08:52:44

Segro PLC - Sale and Leaseback in Munich

21 December 2007



SEGRO ENTERS MUNICH MARKET WITH EUR113m SALE AND LEASEBACK



Giving SEGRO over one million square metres in Germany



SEGRO has agreed a sale and leaseback with MPM (Mannesmann Plastics Machinery)

on three industrial sites in Germany, at Munich, Nuremberg and Hanover. The

leaseback is for a minimum term of 15 years and the transaction represents a

net initial yield of 7.1%, this yield will increase with indexation. The value

of the Munich site is approximately two thirds of this portfolio and marks

SEGRO's first move into this target market.



MPM is leading in the production of machines for the plastics and rubber

compounding and processing industries. The company was split out of Mannesmann

following its purchase by Vodafone in 2000.



The Munich site comprises 130,649 sq m of production / logistics space and

23,488 sq m of offices on 24.1 ha of land and is made up of a campus of high

quality construction workspace units. This high potential site is well located

to the northwest of the city within the motorway ring and within easy access of

an important S-Bahn train station link. Part of the site, about 30,000 sq m, is

sublet to a third party on a lease. As well as providing 15 years of secured

income at an attractive yield SEGRO will be able to generate additional returns

by building out parts of the site for future occupation by MPM. As well as

opportunities on the site sublet to a third party when their lease expires,

SEGRO will potentially be able with MPM to secure commercial zoning rights for

adjoining land.



The sites at Hanover and Nuremberg respectively comprise 28,772 sq m of built

area on 7.3ha of land and 31,669 sq m of built area on 5.1 ha of land. Both

sites are in attractive suburban locations and will become part of SEGRO's

portfolio of trading properties.



Dr Udo Titz, General Manager Germany said:



"Munich is a market that we have been interested in for some time now, the

local economy is moving from recovery to strength and this is an opportunity to

enter that market in a way which directly fits with our strategy. This

transaction gives us a major site at an attractive price per square metre,

underpinned by a strong lease commitment combined and with a significant early

development opportunity to add value by refurbishing and building-out space."



Walter Hens, SEGRO's Group Business Development Director said:



"This transaction gives us geographic coverage in three important German cities

and increases our total space in Germany to over one million square metres

(1,003,844 sq m). It continues our strategy of sale and leasebacks of sites

with long-term development potential, building long-term customer relationships

on a Pan-European basis. We are already seeing the benefits of similar deals we

have done with the KarstadtQuelle group in Germany and with Antalis in several

European Countries".

[merob] 09/12/2007 11:29

Thank you armitage.

If you are an IG account holder, you get trading central for free.

[jonwig] 28/11/2007 08:36

It's not often that property companies give trading updates, but this one looks pretty confident:



Will be interesting to read what happened at the conference.

[pictureframe] 21/11/2007 08:25

Looks like the rally here was short lived....on the downturn again...watching this and MAY

[l.parker] 20/11/2007 15:31

Bubface, you message is very encouraging & today seems like it has been
had notice taken. I,ve held these shares for a couple years & will ride
the storm, until sanity returns to this crazy market we are all suffering
in. Good Luck.

[deanforester] 20/11/2007 13:56

Just clearing a marker.

[bubface] 17/11/2007 19:15

sentiment may take these lower but they offer great value and i have gone long.they have very limited gearing,falling all the time as they continue to make selective disposals.they will be under no preasure to sell anything at the wrong levels indeed they have large committed funding in place which means they can pick up bargains from those not so well funded.
on a positive note sgro could also split the developement side off as a separate quote.they are also one of the few large well funded property co's that are not currently doing a share buyback and could launch a large programme soon which would be effective asset boosting exercise at these levels.
this might take a bit of patience but the management are doing everything right in these difficult times and hopefully will prove there is more value here than the market indicates at the moment.

[ilancas] 16/11/2007 15:37

Job to know how low these (and other property REITS) can go other than looking at the charts. My guess is £3.75 for what it's worth (not much you say).

[pictureframe] 16/11/2007 09:02

Thanks for that, appreciated. Will keep on my watch list for time being, may take a few sub £4 if it get there

[jonwig] 16/11/2007 09:01

pf - the next-reported NAV may well be around its current value, but the stock market doesn't believe it's a true reflection of market prices of property! It will be next year before you get write-downs.

In the current mood, bad news is bad, and good news isn't believed.
I hold BXTN (a very similar company - industrial estates) in my ISA, and long-term both will be good investments. I'll probably buy SGRO at some time, as it has European property as well as UK, but this bad market has to sort itself out first.

[pictureframe] 16/11/2007 08:54

So the current NAV of £775.00 per share can be ignored? Thanks for advice re PE