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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tr Property Investment Trust Plc | LSE:TRY | London | Ordinary Share | GB0009064097 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.50 | -0.15% | 325.00 | 323.00 | 326.50 | 326.50 | 318.50 | 318.50 | 423,154 | 16:35:28 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | -490.61M | -547.27M | -1.7245 | -1.88 | 1.03B |
Date | Subject | Author | Discuss |
---|---|---|---|
07/11/2001 09:08 | still cheap, the interest rate cuts should help the property sector. The only thing to bear in mind is that you will need to exercise the warrants by 31/7/2002. | younasm | |
06/2/2001 14:19 | Agree with all you say about the low CFP but would make two cautionary noises: 1 The CFP for investment trust warrants is really only relevant when you are choosing between the ords and the warrants. Clearly you have to like commercial property (direct and shares) to consider TRYW. The Manager has consistently added value over his sector, so it really is a question of whether you like the sector. 2 When it comes to the sector, it is very old economy and has had a good run in the last year. Which comes to the essential point that TRYW are probably not a trading instrument (very low volatility) but, in my view, an excellent way of playing a commercial property investment. Yes they are cheap, TRY itself is cheap for a trust with such a good record and TRY and its warrants are a much better way of investing in this sector than buying a basket of property shares, where one is open to greater volatility and the sneaking suspicion that one is paying to run expensive Mayfair offices and fleets of Rolls Royces. In conclusion, I agree that TRYW are cheap, even after the last 3p move, but it has to be looked at over the life of the warrants, rather than as a short term trade. | brnf | |
22/1/2001 16:11 | TR Props warrants is looking good value with a low CFP. The Capital Fulcrum Point (CFP) is the annual percentage growth of the equity required for you to do equally well in terms of capital appreciation with either the equity or the warrant. CFP = [ ( e/[s-w])^(1/y)-1]x10 where e = exercise price s = share price w = warrant price y = years to expiry CFP of 0% on 13.25p with a gearing of 4.58x exercise price of 47.5p at 31 July 2002 ords at 60.5p Nav at 72.64p at 18 Jan 2001 Ord Discount to NAV of 16.4% low warrant spread of 13b 13.5o ord spread 60.5b 61o Warrants with a gearing of over 4 usually have a much higher CFP A CFP of 6% would not be expensive implying a warrant price of 17.25p Any thoughts? | sharpshare |
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