Sirius Real Estate Ld Share Discussion Threads

[topvest] 05/12/2013 18:46

Yes, looks encouraging. It's poor form not allowing shareholders to invest in the recent fundraising though. Shows contempt for long suffering holders!

[jeff h] 05/12/2013 16:40

Rents, profits, earnings, NAV all up.

Gearing down and no more financing worries.

Dividend re-instatement on the horizon.

All they need now is to reduce the vacants and the share price/NAV gap will also shrink.

Got into this one (and Taliesin - TPF) after reading about it in the much maligned IC which I find very useful for new ideas and coming across potential investments I wouldn't normally consider.

[sammy_smith] 04/10/2013 14:12

LISTEN: Sirius Real Estate Limited (SRE) - Trading update

Click the link to listen

[wexboy] 24/9/2013 13:03

Sirius Real Estate – I'm Out

hxxp://wexboy.wordpress.com/2013/09/18/sirius-real-estate-im-out/

[praipus] 06/9/2013 08:16

Mirabeau: looking at the share holders you have some regular value investors Weiss and Laxey still holding.

Skyship: IC analysis not convincing you to stay? :)

[skyship] 06/9/2013 07:53

Should be a good chance to exit today....

Tipped in the IC

[mirabeau] 16/8/2013 13:28

Is there value in IERE?

Anyone on here holding?

Ta

[sammy_smith] 01/8/2013 15:55

Listen - Sirius Real Estate #SRE - New funding and equity raising

Click the link below to listen to the interview

[cjohn] 24/5/2013 13:38

Very encouraging update on funding and profitability.

[olliemag2] 29/1/2013 12:35

FT today say a Caisse Canadian pension fund plan to switch $10,000m from bonds to European and US commercial property. Maybe SRE should put shareholders first and place all their 446m euro property portfolio up for sale ensuring the Canadian pension fund gets a copy of the properties up for sale.

[cjohn] 16/1/2013 11:53

SRE's p sqm prices are actually relatively low compared to the German average. But then their properties are in secondary locations.

[bondholder] 27/12/2012 11:57

Hansteen has also completed the acquisition, notarised earlier this year, of Zeppelin Park, a 160 hectare industrial park located in western Berlin, for €11.3 million. The park contains 40,134 sq m of logistics and light industrial space in 19 buildings let to 26 tenants, with a current vacancy of approximately 17%. The passing rent is €1.7 million per annum and the target rent when fully occupied will be in the order of €2 million per annum. Around €3 million of capital expenditure cost is expected to be required to achieve the target rent.

i.e. 280 euro per sqm on purchase price v. 420 per sqm for SRE

Perhaps the SRE estates are very high quality which reflects the higher psm valuation

[cjohn] 20/12/2012 12:54

But earnings are improving and will more with restructuring of the debt. and they're obliged to sell off some of their property to meet the hurdles from Amro.

[colonel a] 18/12/2012 14:56

The large discount to NAV does not compensate for weak underlying earnings.
I can see that it might.
A much lower level of profit per capital employed will produce good earnings relative to the share price.
But clearly that would not produce a satisfactory long term result from a business perspective and if major shareholders cannot be convinced that decent returns are possible they will obviously press for liquidation.
But won't be taking a big position as there is obviously risk, even a positive result is likely to take time and dealing these is a pain.

[horndean eagle] 18/12/2012 12:58

Don't really see the attraction here. Weak underlying earnings don't compensate for the large discount in NAV. You are not being paid to hold the shares. Only outer is if management decide to liquidate. I don't see that happening. Too much self interest.

[cjohn] 18/12/2012 11:47

Yes, I've picked up a few more. The discount to assets is unwarranted. And I reckon the assets themselves are conservaatively valued -judging from sale prices.

[colonel a] 17/12/2012 16:27

Eventually managed to get a few - took a lot more effort than just pressing the buy button - think that with a non-adjusted nav of 54c there's plenty of slack.
Although refinancing is far from a done deal it does seem to be progressing and politically nobody is being encouraged to pull rugs.

[rogerbridge] 30/11/2012 17:23

These are at a heavy discount and have decent assetts. Should be able to re-finance, but I suppose the situation in Europe has made it difficult. Finger on the buy button, providing the re-finncing terms are acceptable.

[praipus] 30/11/2012 17:19

Wish I was ....definitely cant win them all!

[rogerbridge] 30/11/2012 17:16

RNS does not sound positive. Still trying to re-finance. Sitting on the sidelines for now.

[robizm] 07/11/2012 19:05

They have got rid of two more dirrctors wonder why

[wexboy] 05/11/2012 14:21

A brief reminder of the multiple attractions of SRE, plus a detailed review of German residential property companies: