Stenprop Share Discussion Threads

[battlebus2] 22/1/2020 18:09

Thanks playful. Good to see.

[playful] 22/1/2020 17:37

We are all on the same page...

Miton can’t get enough STP!

[cwa1] 18/12/2019 12:45

Just for the record:-



Shareholders are advised that earlier today, Kommanditgesellschaft Bleichenhof Grundstücksverwaltung GmbH & Co KG, a German partnership in which Stenprop holds a 94.9% interest (the "Seller"), entered into a transaction agreement (the "transaction agreement") for the disposal of the leasehold of the property known as Bleichenhof in Hamburg (the "Bleichenhof property") for a consideration of €160.15 million (the "disposal" or the "transaction"), as more fully described in paragraph 3 below and subject to the satisfaction or waiver of the conditions precedent set out in paragraph 4 below.



The disposal is classified as a Category 1 transaction for Stenprop pursuant to the JSE Listings Requirements and requires the approval of Stenprop's shareholders. A circular (the "circular") incorporating the notice of general meeting will be posted to shareholders in due course.

[playful] 18/12/2019 12:16

Following todays news we can now expect they will go on a MLI shopping spree and achieve far better returns for shareholders.

[playful] 06/12/2019 15:02

Still ridiculously undervalued and once the transition is complete the growing income stream will make this an obvious T/O target and we’ll all be making off like bandits!

3.375p Interim XD 23/1

Payment 14/2

[playful] 27/11/2019 16:10

Across most of the country, for the first time in decades it is now a landlord’s market. The practice of fake searches continues to put pressure on landlords to grant submarket rents but is no longer effective as tenants quickly realise space is at a premium.

Despite this rental growth, one of the strengths of the multi-let industrial market is its relative affordability. In our sample data set, the average unit size is 6,889 sq ft and the average rent is £39,500 a year. Therefore, for an average tenant, if rental growth is 8% to 10% a year, that is still only growth of around £3,600 a year; it remains affordable even for small businesses and is also comparatively low compared with almost all other sectors.



Been down to polish our Kirkstall sign today...

[playful] 25/11/2019 19:00

"Of course, nobody really knows who the future occupiers of industrial space will be. However, with the ONS recording that the number of small businesses in the UK has grown by 69% since the turn of the century, we are confident there will be plenty of demand for industrial space from a diverse range of occupiers for some time to come."

[playful] 22/11/2019 07:44

Big positive....

-- Strategic decision taken to accelerate the sale of German assets to capitalise on strong valuations and an active German investment market.

2019 Interim Results Presentation..



Watch and listen to our Executive Team present the Interim Results 2019

[cwa1] 22/11/2019 07:39

And a link to said results:-



Snippet:-

Prospects

Our conviction regarding the growth prospects of the UK MLI asset class grows stronger as we gain more exposure to the sector. The increasing occupational demand, coupled with the restricted supply, continues to produce significant rental growth each time we renew or re-let any MLI units. This is generally the case across the whole MLI portfolio. We see no signs of this slowing in the near future as new types of occupiers, which have never previously occupied MLI units, enabled by technology and communication advancements, compete with traditional occupiers for MLI space. Supply continues to be constrained as it is still uneconomic to build new MLI estates at current rental levels. This is borne out by the growth in values shown by the MLI portfolio driven by growth in rents rather than changes in yields.

We have also committed to building out a market leading, technology-enabled management platform for the MLI asset class. We believe this sector is ripe for a platform approach in the same way as student accommodation, self-storage, hotels and serviced offices have evolved technology-enabled operating and marketing platforms to generate margin efficiencies and the ability to offer a wider range of services and products to their tenant base.

In the period under review, Stenprop has delivered solid results and is progressing well with its goals to transition the portfolio to at least 60% MLI and to reduce its overall loan-to-value ratio to no more than 40% by March 2020.

We are committed to our accelerated sales strategy outlined in this report and focused on continuing our MLI acquisitions.

Stenprop's objective remains to deliver sustainable and growing income to its shareholders over the medium to long term and we remain confident that the MLI asset class will deliver this.

[playful] 22/11/2019 07:17

All looks good here...

Operational Highlights

-- Like-for-like growth in the total portfolio valuation was 3.5% for the six-month period, of which the MLI portfolio was 2.5%.

-- Completed 90 new lettings/lease renewals in the MLI portfolio for an average 4.36 years at an average rent which was 19.7% above the passing rent previously payable on those units.

-- 52% of net rental Income was derived from the MLI portfolio compared to 32% in the same period last year.

[playful] 21/11/2019 19:24

Results out tomorrow morning which should demonstrate steady progress and feel they don’t merit the current discount to NAV so I’ve been buying and will continue on any weakness in the share price

[nimbo1] 01/11/2019 10:10

yes given the discount and plan I can see it getting back to 120 ish. here's hoping anyway - this is in my income portfolio so unless something else comes along with a better risk return profile for the 6% yield I'll stick around.

[cwa1] 31/10/2019 16:29

Nice to see a little touch of modest strength today, happy to see more...

[nimbo1] 25/10/2019 19:19

thanks for setting up the board - probably a slow burn but with discount to Nav and decent divi and disposals plan for germany and switzerland I expect at some point the market to see value here and for the discount to close - and that's before the positive momentum clearly building in the UK industrial side of things (like hansteen)...so all in all happy to sit on some of these and see how things progress.

[cwa1] 25/10/2019 15:58

The last final results on 6/6/19...



...showed the dividend being 6.75p/share and the Diluted EPRA NAV per share as being 141p.

[cfro] 25/10/2019 15:52

Whats the NAV and divi yield here CWA1? Only just noticed this company and new thread just now....

[cwa1] 25/10/2019 15:47

This morning's update:-



Has anyone got any links to any recent analysis?

[cwa1] 25/10/2019 15:42

I decided to set up a new discussion thread for Stenprop because

A) There wasn't one already

B) I'm a holder myself

and

C) It means that other holders can congregate here and not need to be off-topic elsewhere :-)

If anyone wants anything else in the header, as long as they can explain to a complete Luddite how to do it then I'll do my very best to accommodate.

Good luck to all

[cwa1] 25/10/2019 15:39

Stenprop are a Multi-Let Industrial(MLI) business listed in the UK

Website:-

[dandadandan] 24/9/2015 23:46

Watch TipTV.co.uk 24 Sept 2015.

According to the Ayondo Presentation re Mr Dachs is their No 1 to follow
Examine the performance and Asset Allocation tables.
They are good indicators on who to follow.

GLA.

[dandadandan] 20/9/2015 20:45

AnnaS says
Follow that CLHedgeFunds advice especially :

Exercise extreme caution.
Big Profits are usually related to aggressive trading and mostly high risk. Possibly over trading.

Get to know the Traders to follow by their money management, risk appetite, drawdowns and safety limits.
It pays to do your homework and then double check those results.

Don't use high risk strategies and at first keep your investments low.

Trade carefully and learn by your mistakes, these happen to most.

GLA.

[dandadandan] 20/9/2015 20:20

Checkout
hxxp://openbook.etoro.com/clhedgefund

CLHedgeFund -
They provide the TOP 120 Stats for the most copied etoro Gurus for 2015.(Jan to Sept) as a spreadsheet.

Only 19 making a positive return after 9 months.
The Top 10 range from +13% to + 59.97%.

Drawdowns can be high.

Note that CLHedgeFund are 16th with 7.01%.

Choose, your trader to follow, carefully.
(If it was easy, everyone would be doing it....).

GLA.