Songbird Estates Share Discussion Threads

[high park] 28/3/2014 21:01

Price up 14.47%, nearly the highest AIM riser on the day, and still no comments. Why has this share no following?

[trytotakeiteasy] 28/3/2014 12:23

funny Citigroup recently came out with a lower price target or something... doh!!!

[mike24] 28/3/2014 08:43

from post 75, a long time coming good, buts that's property
hedges inflation/ debt

INTU retail landlords spend $1.09bl
on shopping centres retail tenants busy with buybacks/divi's miss out again
in protecting their assets/hedging future rent rises, a no brainer

redevelopment of shell centre next biggy, EIGHT new buildings
shops/offices, right opposite H of Parliament
900 homes, if nxt can make 30% over coming 3yrs then this could
make 100% from 2quid, see 5yr chart
dyor

[high park] 25/3/2014 18:30

Nice jump today.
Interesting that when the market moved down since 14 March, Songbird moved upwards. Moving strongly.

[high park] 07/3/2014 18:25

Bit disappointing, the last week. Was hoping for 200p, and then these last few days it fell through support. But it looks like being on the way up again. Comparing that with the last time it happened, I remain optimistic.

[spacedust] 10/2/2014 14:44

Nothing odd high park - commercial and residential property at present which will go on until 2020 at least so sbd going up in line....should be 500p by 31st december 2014. Results in march should show awesome profits and a greater NAV

[high park] 31/1/2014 22:00

Odd share, this. Doing better than most, and no comments since October last year.

[pennypunter] 13/10/2013 13:18

little reason for recent price fall to 145p - should rally back up to 158p very soon.

[sammy_smith] 25/3/2013 10:20

Listen to an interview with Songbird Estates plc
Click the link to view

[victorjohn] 15/2/2013 12:36

The shares are £1.40 (bid price) as I write this, so the recently completed buy back appears to have contributed to the pleasing sharp rise in the share price.

[salpara111] 23/11/2012 14:17

Well, I sold my entire holding for 123.61p this morning.
Quite a loss for me but I fail to see how the current buyback is going to help close the gap with the underlying net asset value so I will seek to deploy elsewhere.
I will keep them on my monitor as they may at some point become a more investor focused company and if they do then there is still substantial value to unlock.

[spacedust] 01/11/2012 17:54

Sal, if the shares in issue are being reduced by the buyback cancellations and would the NAV increase as well? I think it would

[salpara111] 01/11/2012 11:07

When a company buys back its own stock it can either be "held in Treasury" which means that they can sell them back into the market at some point in the future, if the company feels that their shares are fundamentally undervalued then they would buy them with a view to reselling them for a higher price at some point in the future.
Or they can be cancelled which means just that....they are gone for good and cannot be resold at some point down the line so it is a permanent reduction in the share capital.
I am disappointed to see that they intend to continue trying to buy back stock for another month. I would much rather that they start paying a divi. They own some of the best prime London property assets and there is little new building going on at present, the only other major building in progress is the Walkie Talkie. My point is that at some point down the line there will be a supply demand imbalance.....probably 5 years away but at that point the asset value of SBD will really rise, the problem is that I have no intention of waiting another 5 years to see a return on my investment.
I need about 155 just to break even and while the share price trades at such a large discount to NAV I am loath to sell for a loss

[spacedust] 31/10/2012 20:11

Still here chaps, hoil recently did a buy back purchase they went up 50%. SBD will continue to go up as it has done from 100p to now 120p. One thign what do they mean by 'purchase for cancellation?

[salpara111] 29/10/2012 09:29

Still holding a large chunk and still well under water.
Last reported diluted NAV was 199p so still trading at over 40% discount.
They announced that they would buy back up to £30M of stock over the last two weeks. By my estimate they have used less than £6M and they clearly took a load of stock off market makers books on Friday as less than 1M shares were traded but they managed to buy 4M.
Clearly holders like myself are not going to sell for the very low valuation compared to NAV so they will have real difficulty getting more stock.
I am hoping that they decide to start paying a divi which they can now easily afford to do as that will attract more investors and income funds that are allowed to hold AIM stocks.
Clearly the most attractive thing they could do for current investors is gain a full listing as they would automatically be in the FTSE 250 and given the typical discount to NAV that FTSE 250 property companies trade at, the share price could easily rise to around the 160 level (20% discount to NAV) but I suspect that this scenario is just a pipe dream.

[captainbolt] 26/10/2012 11:03

Is anyone still invested here...or is it just me???lol Heeelllllooooooo o o o o o o o o.....

[salpara111] 11/4/2012 11:27

Have to say that I dont know what to do with my holding here.

I have a large holding which is well underwater. The business trades at a 40% discount to NAV so there can be little more downside from here but equally I fail to see what the catalyst might be to get the price moving again.

They have a complex ownership structure and are AIM listed which makes them off limits to a lot of institutional investors, the problem is that the majority of holders dont have any real incentive to change things as they are in it for a real long term haul.
I agree that the only potential catalyst to really impact the share price would be a takeover offer but given how tightly the shares are held it would require the agreement of a couple of big shareholders to go ahead and I am not sure that they would agree to it.
I am also loathe to hold a stock just on the basis that someday they may jump 50% off the back of a takeover offer.

[sg17] 08/4/2012 22:09

Residential is where the demand is at present especially within this area of London where property prices continue to escalate. And this will attract investors to the company also.

There is also very strong demand from foreign investors particularly from the middle east who will be eyeing the developments here very closely. My opinion is that this company will get snapped up in the not too distant future as it is very cheap at present and trading at a significant discount to NAV. All in my humble opinion....

[snagsby] 02/4/2012 09:43

Goodness me SG17 - you are insistent about residential. Please don't forget that this would still only represent a significant minority of the portfolio should all your cherished residential be built.

I have to agree however that in this particular area, and at South Bank, that this move(into residential)appears wise.

Longer term, I believe the company is positioned very well especially with the Crossrail line due...at some point...

[sg17] 30/3/2012 09:12

Wood Wharf - In light of changing market conditions, the best use of this site is being reviewed, potentially altering the mix of uses in favour of residential, reducing the size of individual office buildings to reflect target sectors and to differentiate the new district from the existing Estate.

[snagsby] 28/2/2012 14:31

SG17, yes, you are correct - but it's still peanuts compared to their office portfolio, and therefore not particularly relevant. The One Canada Square building alone has almost as much square footage! As you also state, Wood Wharf has planning for over 3 million sq ft itself.

There are a host of large businesses whose current leases expire in the next few years in London. I'm interested to see if CWG can persuade any of them to relocate to Canary Wharf/Wood Whard.

[sg17] 28/2/2012 12:18

Snagsby - Wood Wharf will be a new mixed use development scheme adjacent to the Canary Wharf estate. In May 2009 the current master plan, designed by Rogers, Stirk, Harbour and Partners with Landscape architects Martha Schwartz and Partners, received one of London's largest ever single outline planning consent for 4.8m sq ft net. This represents an area almost one third of the size of the Canary Wharf Estate and will comprise approximately 1.25m sq ft of residential development, 0.2m sq ft of retail, 3.1m sq ft of offices and a 0.2m sq ft hotel. Detailed consent was granted on the three office buildings closest to the Canary Wharf estate totalling 1.5m sq ft net in July 2009.

"1.25m sq ft of residential development"

[snagsby] 23/2/2012 18:08

SG17 - this seems of little relevance here. Songbird are a commercial property vehicle and will only have minimal exposure to residential property when the Shell Centre refurbishment is completed - which is only partly residential.

Would be more interested to know how solicitation for suitors for the Walkie Talkie or Wood Wharf is going..?