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Share Name Share Symbol Market Type Share ISIN Share Description
Shaftesbury Plc LSE:SHB London Ordinary Share GB0007990962 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  10.00 1.59% 637.00 635.50 636.50 637.50 629.50 633.50 203,612 16:35:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 126.9 26.0 8.5 74.9 2,447

Shaftesbury Share Discussion Threads

Showing 326 to 349 of 600 messages
Chat Pages: 24  23  22  21  20  19  18  17  16  15  14  13  Older
DateSubjectAuthorDiscuss
21/6/2020
15:14
Deadly, for what its worth i see rents being bashed down across the board with NAV down and LTV's being breached but i also feel that currently (how long isn't clear) lenders will roll over and do a deal potentially on lower rates so they don't end up with a load of assets that would only serve to collapse the market further. Furthermore IMO the govt are deliberately aiding and abetting this outcome with the inability to take action over unpaid rents along with plenty of spiel about landlords and tenants need to work this out ie cut a deal (see the Code of Conduct issued by Dept o BEIS on Friday along with banks being told to assist landlords. Where does this leave SHB - again imo they will have to go down the turnover rent option with a low base if they want to keep the estate occupied and lets be clear that is alot more appealing to draw in the tourists/daytrippers than a ton of empty premises and they will be leveraged to the recovery and inflation (if it comes). Actually, looking at the interim report in more detail, rather than the headlines, i feel they recognise the severity of the situation and 'sound' like there being more proactive with tenants as well as accepting that they won't recover a lot of March/Junes rent. This is a more realistic position that others are taking who suggest they will recover lost rent which im not so sure will be the outcome but it allows them to recognise the income albeit not the cash so won't wash forever.
nickrl
21/6/2020
08:52
Yes some shops will go bust that's a fact of life but new things emerge and the thing here is a lot of the assets are not multiple shops they are unique business's and new ideas will be invented. The doom mongers have been moaning about property being over valued for years but as I say it never goes down longterm. Interest rates are next to nothing shed loads of money have never been easier to borrow. Debt appears to be very easy to refinance. You only have to look at what our government are borrowing, if you looked at the bond market the other day investors were actually paying the government to lend money to the government.
deadly nightshade
21/6/2020
07:19
Currently I do not have a definitive until there is more information on vacancy levels as to an entry level. I also think their reversions will disappear. As to things will look cheap ten years on, you will probably be right. Not so for shopping centres over the last ten years mind. It's a great portfolio however it is geared and in my view a large number of vacancies are coming.
konradpuss
20/6/2020
22:19
Konrad out of interest what's your potential buy in price valuation on this then? Considering you say you buy below nav and this is already trading well below nav.
deadly nightshade
20/6/2020
22:18
Konrad out of interest what's your potential buy in price valuation on this then? Considering you say you buy below nav and this is already trading well below nav
deadly nightshade
20/6/2020
22:10
Konrad I am here because I am invested here I put my money where my mouth is. If you are so negative on this then you surely you wouldn't want in at any price? As for struggling bars/shops etc the government have done more then enough to help folk with rates and vat breaks etc and furloughing of staff. A lot of people have knocked government over covid but I would struggle to think of many other countries with such generous furloughing schemes. As the old saying goes never moan about high prices because in 10 years time they will seem cheap. Nothing has ever gone down in price in the long run of my lifetime on this earth
deadly nightshade
20/6/2020
21:38
Deadly, I have traded this stock three times over the past three years on the back of buying below the NAV and selling above, helped by Sammy - RIP! I was always worried the stock was 'priced for perfection'. I know a tenant of a very well known wine bar close to Golden Square whose landlord is Shaftesbury. They have been squeezed over the last few years - rent, UBR etc. etc. What it is like for them now, heaven knows! I love the location, the portfolio but not the price. I am hanging around for a fourth entry level. The recovery will not be V shaped in my humble. The unemployment and working from home will have a massive effect on areas like Soho. Now why are you here?
konradpuss
20/6/2020
21:22
nick what you might be forgetting is that these owners of these retail/ food outlets might well be running little goldmines in very exclusive area and although they will be feeling the pinch due to closures surley at the back of their minds if they have highly profitable business's when they are operating then it will be in their interest to work with landlords over possible deffering of rent. its a bit different if your a landlord of a tiny shop in a undesirable area then you might not worry so much about rent and handing keys back. also looking about you can see the economy is opening up and i have noticed the past week a real difference with people starting to get closer and closer together. all them little food/bar and coffee shops are opening up abroad and by the looks of it thriving. it could well be the econmey opens up a lot faster then people think. plus all the doom talk of massive unemployment and property prices crashes might well end up all unfounded fears. while we have rock bottom interest rates and plenty of cheap cash then surley asset price will not crash??
deadly nightshade
20/6/2020
21:11
konrad and nick are you invested here? if your not then why are you deramping? are you looking/hoping for a entry point? as for state of the market i would trust capc knowledge and dd of why they bought in here over a few derampers on this bb. that being said the derampers might well end up having bragging rights if we have some more short term carnage but surely quality always outs in the end and there is no denying that shb has some quality assets
deadly nightshade
20/6/2020
18:16
Essential, these folk are watching the rent not come in!
konradpuss
20/6/2020
17:54
Very little director buying in the sector atm. I realise it is possible to read too much in to this, however may be worth noting.
essentialinvestor
20/6/2020
17:35
SHB tenants ain't going to be in a rush to open so June rentals are going to be mediocre and quite frankly unless you have some moral fibre what FD would pay anything given the govt has got your back to end September now. Furthermore with new Insolvency Act coming into force in weeks you can then instigate a 'company moratorium' and landords will then have to negotiate to avoid the business ending up in administration. Can't see a dividend any earlier than Essential suggests and probably best outcome now is a merger of equals with CAPCO
nickrl
20/6/2020
16:10
Bought a very small amount yesterday under 5.69. My own take fwiw is it may be 3-4 years before we return to 2019 valuation levels.
essentialinvestor
17/6/2020
18:30
Think second wave risk will be down to wash rates or lack of / social distancing in metres. Sweden excess deaths is now vitually zero, bar maybe some deaths brought forward. They release latest wash rates tomorrow so will see what Stockholm is up to. If its 20% then could indicate a 20% wash with 1m social distancing can hold the R & death rate. On other hand if somewheres 5% wash, 2m may need to be maintained
hindsight
17/6/2020
17:28
Https://www.dailymail.co.uk/news/article-8432241/Londons-West-End-transformed-outdoor-dining-district.html Significant second wave is the big danger, tbf it applies to most of the wider equity market.
essentialinvestor
13/6/2020
21:52
Yup, eventually the landlords will be able to go after tenants for non payment of rent. I would wager (I don't seem good at this - the non existent rights issue!) that the majority of Shaftesbury tenants have little covenant. Look at the mix. Retail - very few multiples. Restaurants - very few multiples Offices above shops - very few multiples Residential above shops - probably no multiples What they might have is quite a few rich private companies and individuals hiding behind private companies with little net worth. O.K. they might have some rent deposits. You watch the fleet of boards on their estate in the autumn.
konradpuss
13/6/2020
13:42
Nick's reference to the deck being stacked against commercial landlords by current government policy is valid. I've made a similar observation and whatever your sector view, it needs consideration. We are in extraordinary times and arguably an extraordinary policy response was required. However as physical retailers and other outlets reopen, how long will those businesses be allowed to say...we can't/won't pay- without the ability of landlords to take legal action?.
essentialinvestor
12/6/2020
20:23
Essential, the early nineties were when residential property was being given away. It was so over bought in the late eighties. I think Shaftesbury have a 'late eighties residential' commodity right now. Now might not therefore be the time to buy. I would wait until there is 'blood on the streets' of the West End. It's coming - late autumn. As to Cap. Co. doing a friendly 'take over', I do not see that one. What's in it for Bicknell? - a P.45!
konradpuss
11/6/2020
17:03
Nick, bought my first house in 1992. The week I exchanged Pararoma ran an episode on how the UK housing market would take a decade to recover. I flipped it 2 years later for just under a 60% gain, having spent about 4k on a very superficial refurb. Then moved on to the next one. However, as mentioned some cyclicals look too optimistically priced following the rebound from March. Particularly some of the lower grade stocks.
essentialinvestor
11/6/2020
16:58
Essential in terms of an opportunity to get hold a big stake quickly have to concur with your view although CAPCO will see no return on that for at least 12-18mths. Furthermore they've put a prop under SHB share price with there intentions now pretty clear they want a merger or a takeover and im pretty sure they would get the funding as well given how many other plc are getting hefty raisings' away without issue currently. As you say plenty of dosh in the system looking for home not because its makes money but earns fees for the bankers promoting them.
nickrl
11/6/2020
14:45
I'm not sure Capco went too early, at least not viewing the transaction in wider context. At the backend of 2009 prices in SHB's geographic location were already rapidly rebounding. The large SHB stake became available this year, it was not as if they had a 2021 option on that. Capco know the next 12 months will be incredibly ugly. The investment also needs to be viewed in the context of their excellent disposal timing on the Earl's Court asset. They effectively reinvested that money. They were not attempting exquisite timing on acquiring Lee's shares, the opportunity arose and it was grabbed.
essentialinvestor
11/6/2020
14:18
On my watchlist HLCL, DLN and SREI. Of the above HLCL has the least retail sector exposure at approximately 2%, DLN is somewhere near 12%, from memory.
essentialinvestor
11/6/2020
14:11
It's the Central Bankers that done it! They have just pumped so much liquidity into the system.
konradpuss
11/6/2020
13:45
The initial results day spike was on the lack of a RI imv, although there is plenty of time for that. As I mentioned here on Tuesday, equity markets may be underestimating the surge in unemployment to come and its knock on efect with consumer spending/corporate profitability. The flip side of this is liquidity chasing finite assets.
essentialinvestor
Chat Pages: 24  23  22  21  20  19  18  17  16  15  14  13  Older
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