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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
  0.00 0.0% 331.50 331.00 332.50 332.50 318.00 318.00 135,058 16:35:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 429.9 58.9 22.8 14.5 737

St.modwen Properties Share Discussion Threads

Showing 551 to 574 of 675 messages
Chat Pages: 27  26  25  24  23  22  21  20  19  18  17  16  Older
DateSubjectAuthorDiscuss
04/3/2016
18:36
Isn't the falling share price a response to rising doubt about the financial success of VSM's redevelopment of Covent Garden Market? The agreement with Covent Garden Market Authority was signed in January 2013. From what I can see, house prices in the area may have peaked at the end of 2014. http://www.foxtons.co.uk/living-in/nine-elms/ Press reports, such as this, will have hit confidence. Speculative investors head for the exit in Nine Elms development http://www.ft.com/cms/s/0/8e85675c-2648-11e5-bd83-71cb60e8f08c.html I haven't read the agreement between VSM and CGMA but, if it is structured so that VSM pay for the Market redevelopment, then there is higher risk carried by VSM because the sale price per property will have to cover land cost, build cost, finance cost and a per property share of the cost of the Market rebuild. If this is the case, then projections for achievable property prices are more critical than for a normal (ie. site clear and then build flats) redevelopment. I should state that I'm not trying spook anyone. Just sharing my own thoughts on why the share price might be falling. I'm neither long nor short St Modwen, and wish holders a good outcome. Edit: Perhaps I need to add a little balance. St Modwen are very experienced developers and will have put massive effort into planning and pricing this big project, including projecting outcomes if softer end markets should hit. I suppose the question is, "Have they been sufficiently cautious?" I doubt that private investors are in a position to answer this.
ed 123
04/3/2016
14:45
I just don't see a problem with financing. They would have put it all in place before they started.
redartbmud
04/3/2016
10:20
Perhaps there is concern over financing London project work and fund raising. Waiting to see sub 300p as it looks very possible.
its the oxman
03/3/2016
11:53
Just wonder if there are concerns here re management succession.
droid
03/3/2016
10:40
Why so weak here when land and Blnd are recovering?
its the oxman
26/2/2016
10:29
I think by london he is actually referring to Nine Elms which looks a problem area.
droid
26/2/2016
09:32
"Has anyone stress-tested SMP? What would be the value of the equity if London property prices fell by 20%?" That isn't a relevant question. Why haven't BKG etc. also fallen like SMP? BKG has in fact recovered strongly. London house prices falling is only a dream when the pound has fallen and the economy is growing well.
deadly
19/2/2016
17:07
divi increased 25%. Did they listen to us? Or has this been announced before?
solomon
10/2/2016
19:39
Momentum moves in both directions !
spacecake
09/2/2016
11:55
Has anyone stress-tested SMP? What would be the value of the equity if London property prices fell by 20%?
ed 123
09/2/2016
11:36
There has to be some considerable value at these kind of levels. My average price is a lot higher and will be taking advantage as soon as I have more cash available. The downward drift has been disappointing but I'm holding long term. Any thoughts?
bluerunner
05/2/2016
16:58
Volume today not excessive. Level 2 from what I can see seems to show a reasonable balance between buys and sells. As an investor though, I'm lacking guidance and future financial forecasts. I couldn't find any in their annual results. People want to buy on the future, not the past. Where is the future financial guidance? If anyone has any, pls share
webclick99
05/2/2016
15:50
The market is pricing in more Covent Garden risk, imo.
ed 123
05/2/2016
15:36
Large fall so far today. Any body know any particular reason why? Is it just normal trading going on? Thanks for any reply.
bostonborn
04/2/2016
06:12
This bb sometimes goes a month without a single comment/post and now you are baulking at a healthy discussion!
eggbaconandbubble
03/2/2016
19:01
jef Agreed. Time to move on. We all come from different angles, with different goals. holding Smp shares is by personal choice.
redartbmud
03/2/2016
18:56
This is all getting a bit surreal. You and others asked why the dividend was not bigger and I made a suggestion. If you don't like it or agree, fine, but you'll be left wondering why unless you can think of a better answer!
jeffian
03/2/2016
13:25
Yes! Provided you have a tenant. OK. Forget the gold analogy. Get a tenant in paying rent and then mortgage the house. Build another house with the loan; put a tenant in and so on. Each time borrowing the same percentage of property value which means a greater loan each time as the value of property rises.(i.e revaluation) Help yourself to a regular 'divi' along the way. Sell all when the Chancellor starts to make life difficult.
eggbaconandbubble
03/2/2016
09:29
This is a property company. It has annual revaluations. That may go up, or it may go down. The resultant impact on P&L account, in either direction, has to be judged accordingly. Safer to look at underlying (sustainable) earnings or realised gains (though the latter,by their nature, will be one-offs). Never mind gold, think of your house (property, geddit?). It goes up by £50,000 so you think you'll treat yourself to a £25k 'dividend'. Only you haven't got the cash (because you haven't sold the house and realised the gain), so you borrow it on an increased mortgage. Then the value goes down again. Was that a sustainable dividend?
jeffian
03/2/2016
09:19
I think you make a good point egg. However, gold has no income value, whereas the 'cellar full of gold' that SMP has does produce an income. It is worth keeping even if its value has increased.
solomon
03/2/2016
08:18
I've got a cellar full of gold. It's doubled in value, but I'm not going to sell any of it because my accountant says it's only a paper profit!!!
eggbaconandbubble
02/2/2016
23:19
See #512. Dividends are paid in cash; 'revaluation' profits are paper profits.
jeffian
02/2/2016
10:35
Peaeff - I agree it's a balance and not all about dividends, I was simply pointing out where I thought the weakness may lie especially as the market is so weak at the moment that many great companies are paying a great dividend. That said, I still invested and see no reason why the share price should not be nearer £5 than £4, the Covent Garden project is tremendous. SMP looks like a solid and reliably investment, very important to some, including me. The fact sheet on the company's website gives a flavour of the Covent Garden potential. The share in the development could show huge paper profits before it is ever completed and the scale of it struck me as a possible reason for a cautious dividend policy - as it expands I suppose it will soak up lots of working capital. I don't know what the accommodation prices are in that part of the city but some could be multi-million pound units with the development itself driving local prices up.
aaainvestment
02/2/2016
10:06
Whilst SMP have done well at what they do for years, long term, larger developments mean that with property near to the top of its cycle, the future may not prove to be as lucrative.
semper vigilans
Chat Pages: 27  26  25  24  23  22  21  20  19  18  17  16  Older
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