St.modwen Properties Share Chat (SMP)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
St.modwen Properties Plc	LSE:SMP	London	Ordinary Share	GB0007291015	ORD 10P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	+0.00p	+0.00%	427.50p	428.00p	429.50p	432.00p	426.50p	431.50p	67,489	16:35:09

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Real Estate Investment & Services	433.0	72.4	27.1	15.8	951

St.modwen Properties Share Discussion Threads

Showing 626 to 649 of 650 messages

Chat Pages: 26 25 24 23 22 21 20 19 18 17 16 15 Older

Date	Subject	Author	Discuss
28/6/2019 00:03	Probably fully priced here now and currently better value over at Helical at the moment when comparing NTAV per share. I suspect next week's half-year results need to beat expectations to support the current 420-440p range.	cordwainer	Read Full Thread Reply
25/3/2019 14:43	Sharing a non-exec with Domino's, E.g. "..ah yes, but might be best to have your new Domino's Pizzo branch here rather than there because its not public knowledge yet but SMP are likely to sell and build out this nearby site for a 300-operative Screwfix shed and its commuters and customers will ..."	cordwainer	Read Full Thread Reply
20/2/2019 11:38	I take another look at this if it falls to 370p in the short term. epra p/e and %yield could be better going into general economic uncertainty, even taking into account stronger balance sheet, imho.	cordwainer	Read Full Thread Reply
07/2/2019 22:14	Can't argue with your opinion, it seems to follow my train of thought very closely.	redartbmud	Read Full Thread Reply
07/2/2019 22:11	Having made about 10% on the stock after fees in 10 months, i'm satisfied. Decision to sell not really very stock-specific. Despite SMP's excellent no-deal brexit contingency planning, being in the FT250 market sentiment towards the UK might override that if no deal happens. I confess no-deal brexit fear has encouraged me to increase my cash position, even though SMP probably deserves a good quality hold rating.	cordwainer	Read Full Thread Reply
06/2/2019 16:32	cord What do you do to wainer a cord? If they are so well managed, what are your reasons for crystallising profits?	redartbmud	Read Full Thread Reply
06/2/2019 16:21	.. however I crystallised profits on SMP this morning.	cordwainer	Read Full Thread Reply
05/2/2019 23:04	Could not be better managed, imho.	cordwainer	Read Full Thread Reply
05/2/2019 18:01	Yes, happy to hold. Gearing position is smart at this point in the cycle.	topvest	Read Full Thread Reply
05/2/2019 14:29	Decent results today. NAV up 5%, discount 15%.	deadly	Read Full Thread Reply
30/11/2018 16:41	thanks, talk to yourself cordwainer today's debt reduction relatively small why pay out unnecessary interest after selling assets ?	cordwainer	Read Full Thread Reply
05/7/2018 05:16	from The Times TEMPUS: Selling strategy is paying dividends for St Modwen If you are looking to buy a few shops, or perhaps a small shopping centre, or even, say, a town centre in Edmonton Green in north London, look no further than St Modwen Properties. The FTSE 250 regeneration specialist is on a selling spree and, frankly, it could not come soon enough. Until the start of last year, the company had languished as a property business with an erratic and sprawling portfolio that did not make a lot of sense. It had specialised in buying land that no one else wanted to develop, such as old oil refineries or steelworks, and turning them into huge sites of offices, shops and retail. It also held a 15-year-long landbank but no real housebuilding business to speak of, small retail assets that were not generating much income, and town centres that were returning little more than £5 million in rent, such as Edmonton — yours for £70 million, if you are interested. Mark Allan, the former chief executive of Unite, the student accommodation provider, came in and changed all that. He decided that St Modwen would continue to take on regeneration sites but the focus would be housebuilding and industrial and logistics centres. Almost everything else could go. It was a bold move and has pleased investors it seems. The share price since Mr Allan arrived in December 2016 is up to 404p from 303p. The group’s interim results show its strategy is going well. The company has sold £350 million of assets, including £95 million of retail, taking disposals since the strategy was announced last year to £635 million, representing 35 per cent of St Modwen’s portfolio. Yes, some of the retail assets are selling 4 per cent below November 2017’s book value but in this climate that should not be considered a bad run. The returns from selling properties are also showing big gains for the company. Take the £95 million of retail and £139 million of student accommodation in Swansea the group sold in the first half of the year. This was delivering a net rental income of about £10 million a year. The group has invested half the proceeds from these sales — about £110 million — in its logistics and industrial pipeline and is set for an income of £11 million a year. Scale that up to £500 million of capital being recycled and that translates into a big move on earnings and, by extension, the dividend over the next two to three years. In the past, a lot of cash generated by St Modwen was development profits, as the company sold all that it developed. Now it will hold on to assets that generate an income and link the dividend to the recurring cashflow from this activity and housebuilding profits. This means, as income increases, dividends should rise more strongly. St Modwen reported a 53.5 per cent increase in the dividend to 3.1p per share, up from 2.02p a year earlier. The cash from these disposals is enabling the management to pursue an ambitious development strategy of boosting its residential and logistics divisions by 25 per cent a year, while keeping debt at a low level, at 24.2 per cent loan to value in the first half. The shares dipped 4 per cent to 404p after the company revealed profits were down 18 per cent to £25.9 million and earnings per share fell 22 per cent to 9.4p, although net asset value per share rose by 1 per cent to 455.4p. The company expects profits to be up on the year with the interim fall due to the winding down of a joint venture with Persimmon. The total return for the half year was 2 per cent but is expected to be 6 per cent for the full year. St Modwen wants that to rise to between 10 per cent and 11 per cent within three years and that means a big boost in dividends. With shares at a 16 per cent discount to November 2019’s NAV, this is worth a buy. ADVICE Buy WHY Sensible disposal strategy is performing well and will boost dividends over a three-year horizon	cordwainer	Read Full Thread Reply
03/7/2018 19:20	Also noting that all 3 brokers reiterate buy rating, and 53.5% hike in interim dividend should be supportive too.	cordwainer	Read Full Thread Reply
03/7/2018 15:46	St Modwen Properties Interim Profit Drops Despite Revenue Growth: www.morningstar.co.uk/uk/news/AN_1530602456829099400/st-modwen-properties-interim-profit-drops-despite-revenue-growth.aspx Well I guess its ultimately the NAV per share that matters most, and that got nudged in the right direction. Haven't actually read much of the interim report yet though. Recent trends seem to bear out the soundness of the strategy. Apparently initially well received update followed by profit-taking. Anyway, it's only the Basic EPS which dropped, for a real estate company it can be argued that the increased EPRA EPS is more relevant .. www.stmodwen.co.uk/wp-content/uploads/2018/07/2018-h1-results-announcement.pdf	cordwainer	Read Full Thread Reply
13/5/2018 07:12	27% of RETAIL property as I read it. However good result in a difficult area.	linhur	Read Full Thread Reply
09/5/2018 08:32	Decent sale of 27% of porty should boost future returns.	deadly	Read Full Thread Reply
19/3/2018 16:08	..glad ONE of my holdings is having a good day today.	cordwainer	Read Full Thread Reply
08/3/2018 10:42	approx NAV p/s 450p, NNNAV p/s 458p .. is the market expecting substantial asset writedowns here (e.g. -20%) ? or maybe not liking the mildly high gearing ? or simply just not liking UK real estate ? don't see why this should be lower rated than New River Reit.	cordwainer	Read Full Thread Reply
04/1/2018 20:04	Does the country need more bonded warehousing near ports post Brexit ?	spacecake	Read Full Thread Reply
19/12/2017 23:44	The problem with debt renewal is the write off on the swaps when you get out. Also fees seem to be increasing as you have to get more banks involved because they only want a small share of the debt. Overall bottom line will not improve much because of swaps write off. See this a lot with debt renewal.	linhur	Read Full Thread Reply
19/12/2017 09:14	useful reduction in debt interest, should help profits.	deadly	Read Full Thread Reply
20/11/2017 11:40	I agree. Automated stops can, on some occasions, make a loss for you. In this case it is beyond my comprehension why the first three minutes traded so mysteriously and then took 15 minutes to recover fully.	solomon	Read Full Thread Reply
20/11/2017 08:42	Today's an example as to why I refuse to have automated stops in the market any more. Wtf was that at the open?!	davr0s	Read Full Thread Reply
14/10/2017 16:10	May be a mistake but sold out this week c.380p. GL to those who remain.	its the oxman	Read Full Thread Reply

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