St.modwen Properties Share Discussion Threads

[mrbt] 17/1/2008 08:58

Nice rise over the last two days. Anyone know why?

[mistertibbs] 20/12/2007 16:07

For me, too many people look at the property sector as a whole and put them all under that bracket,without taking the time to dig a little bit deaper. Time will tell.

[sandbank] 20/12/2007 14:57

I think the seeds have been sown of another credit boom. Inadvertently the Government and the BoE have lowered interest rates too much - trying to keep the economy going. There'll now be inflation and a massive credit squeeze in 2009

[pame100] 18/12/2007 11:52

hi bilsby
smp are about 85% geared. They say that they have the funds in place for the next year at a similar interest rate to usual so for now it is business as usual. i did not see this share price drop coming as it is a well run business that redevelops brownfield sites. surely there will always be a market for that in this day and age.
the shares are a bargain, but i have no cash left as there are some other bargains out there of a similar nature, imho.
sit tight and don't worry is what i am trying to do.

[bilsby] 17/12/2007 17:34

What's up with St Modwen recently. In the last 6 months the share price has dived from over £7.00 to almost half that! It is true that general market sentiment has not been great recently with the sub-prime debt crisis, however SMP seems to have dropped way in excess of the general market average and even worst sector average every time.

Today it's dived another 9.5% whereas the general market has only suffered 1.9% drop and even the worst sector only a 4.5% drop.

All this seems odd given the results where on track as usual, predicted growth is also as expected. Is SMP heavily exposed to areas of the market being squeezed by the credit crunch? Or is SMP being targeted?

Anyone any ideas.

[mrbt] 10/12/2007 14:41

Longbridge in the news today. Seems to be progressing well.

[mrbt] 11/10/2007 14:06

Nice write up about Anthony Glossop and St Modwen in Mail today

[tiger20] 27/9/2007 15:03

Nav is £4.40 according to St Modwen so not to far above nav

I think you would be risking it short this one - especially now the banks are being sorted out, and SP's on the rise.

[hybrasil] 24/9/2007 17:37

I should have listened to my own advice. However it remains a short as it is still trading way over nav

[macs] 24/7/2007 12:00

"The Board of St Modwen has noted with regret today's decision by the London
Borough of Southwark ("Southwark") to select Lend Lease rather than Key Property
Investments ("KPI") as its preferred development partner for the Elephant and
Castle project"

See news above

[nickcduk] 18/7/2007 19:16

Hybrasil - You have to dig a little deeper into SMP to realise the NAV is a little misleading. They have projects that take years to come to fruition and provide a steady stream of consistent gains. The developments they are working on now would have been hatched a few years ago and they will book the gains for the next few years. They do win some massive regeneration contracts as well such as the one with BP and Medway council.

I have previously shorted SMP and took a bit of a bath on it before I understood why it never used to fall in line with the rest of the sector. Ive been shorting HLCL instead recently and thats a better bet to fall sharply than SMP imo.

[officerdigby] 18/7/2007 18:36

Go for short... But BEWARE Govt.. development contracts.. ;-/.

[hybrasil] 18/7/2007 09:19

In my book this is a massive short. Why should it be trading at 2xnav almost when the sector is back to its traditional discount?

[mistertibbs] 09/7/2007 23:19

Nice results today. Simply not enough for the market it seems.

[nickcduk] 04/7/2007 14:27

Doubt you will see 7 pounds anytime soon. Have you not seen the carnage in the sector? BLND is trading on a 20%+ discount to NAV. Remind me what kind of discount SMP is on again will you?

[mrbt] 04/7/2007 14:19

looks more promising again, are we on our way back to £7.

[sandbank] 21/6/2007 08:27

JEANAI: Panmure Gordon expects full-year pre-tax profits of £46.5m, EPS of 28.6p and a year-end net asset value (NAV) of 269p.
Market value: £569m
Dividend yield: 1.7%
Trading props: £113m
Premium to NAV: 103%
Net debt: 74%
Investment properties: £374m
Half-year Net asset Pre-tax Earnings per Dividend per
to 31 May value (p) profit (£m) share (p) share (p)
2004 195 22.1 12.9 2.5
2005 233 22.8 13.0 2.9
% change +19 +3 - +16

This temporary mark-down is a great buying opportunity IMHO.

[nickcduk] 08/6/2007 13:57

The whole sector has been hammered. SMP is trading on the highest premium to NAV and is still up for the year. Most in the sector are down about 15% and trade on discounts upto 30%. Something had to give and it was SMP premium in this case.

[jeanal] 08/6/2007 13:54

What on earth is happening? Shares have crashed. Forecast has earnings down by 2/3rds! Anybody know what's going on?

[johnthespacer] 03/6/2007 13:30

and back up again - was this a classic tree shake by the market makers?

[johnthespacer] 30/5/2007 16:13

whats up today down over 3%

[mrbt] 13/4/2007 07:51

will the sale of norhern racing for £2.00 have any more impact today. Was it speculation of a higher price that took us over 700.

[hijeff] 10/4/2007 07:51

divi quoted at 21p on companyav.com ?????????????