[ADVERT]
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
  3.50 0.74% 476.00 476.00 477.00 477.50 474.00 475.00 307,780 16:29:59
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 36.6 39.7 12.3 38.9 1,511

Tr Property Investment Share Discussion Threads

Showing 51 to 73 of 275 messages
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
29/12/2007
11:35
Thanks for that, Cerrito. Yes, it summarises the problem here, but I'd prefer to accentuate the positive! • Interest rates in the UK are expected to fall substantially next year, • A shrinking public sector might rescue us from tax hikes, • Escaping forced asset sales should support prices. (So far, I think, we've avoided them.) Higher-geared and secondary asset companies are still at risk. The largest (FTSE100) should be OK. And TRY is one way to get into the sector without single-company risk!
jonwig
12/12/2007
18:08
180p - support or resistance??
chairman2
26/11/2007
12:17
article in the Telegraph Money section did not mention TRY but was relatively downbeat (journalists over influenced by M&G)
chairman2
25/11/2007
15:59
Hi, MW. I can't help you, but the liquidators can be contacted at KPMG. This announcement gives details: http://www.advfn.com/p.php?pid=nmona&cb=1196006162&article=14768446&symbol=L%5ETPY
jonwig
25/11/2007
15:01
was a holder of trust of property shares investment trust and am still waiting for the remaining money following its winding up; it appears there has been some problem over its investment trust status; can anyone enlighten me if there has been any recent development?
mw8156
22/11/2007
19:39
from the Interims: "The average discount over the period [31/03 to 30/09] was 12.2% for the Ordinary shares and 11.5% for the Sigma share class. These figures compare with an average discount of 9.9% in the period from September 2006 to March 2007." ... which bears out what we know in general, but the cycle isn't a steep one.
jonwig
22/11/2007
19:07
yes I amaware of a lot of general Investment trust research which shows that there is a discount cycle overlay on the share market cycle which tends to exaggerate the movements in both directions. Some classes of investment trusts the widenning discount is the leading indicayor of changes in direction. Anything above a 20% discount is usually a mindless buy
chairman2
22/11/2007
07:32
Can't help you there, Ch2. It's a general rule with ITs that the discount widens when the underlying assets fall ... as now.
jonwig
21/11/2007
14:30
any view of what the past cycle of discount has been
chairman2
21/11/2007
08:15
TRY H1. Outlook statements: Market Outlook The Trust now has minimal on balance sheet gearing and the portfolios' see-through gearing has been sharply reduced to below that of the benchmark. Our equity portfolio is dominated by holdings in large liquid stocks with an emphasis on those with below average gearing, fixed rate long term debt and high quality tenants and leases. We have no derivative positions or exposure to debt instruments and our direct property portfolio is virtually fully leased. The turmoil in credit markets has created a heightened level of uncertainty for all asset pricing. If the turmoil develops into a full blown credit squeeze it may yet threaten world economic activity. In these uneasy circumstances the managers are concentrating on risk avoidance and on holding assets with secure cash flows and dividend profiles and husbanding resources against the future prospects of recovery and growth. My view is that the problem is about financial companies expecting Central banks to bale them out when their lack of confidence in each other causes illiquidity in each other's credit positions. Meanwhile the operational world carries on quite well - including property, retail and manufacturing. Chris Turner addresses this issue of market fundamentals at the end of his statement. and The question is what happens next? Inactivity in the market is confusing the pundits, but we are missing two normal of the normal ingredients for a full blown property bear market - sky high interest rates and over development. Consensus forecasts and IPD Index derivative pricing suggest a 10% to 12% value decline in the next twelve months. UK property share pricing is generally discounting all this and more and points to portfolio value declines of closer to 20% over the next twelve months. Much will eventually demand on the state of tenant demand in 2008, which in turn will depend on the state of the economy and housing markets. urrently the market is in that mood where almost all news is bad news. If a company produces a better than expected valuation result then it must have dozy valuers. Property share prices are Share prices declined steadily over the period with the benchmark index falling in five of the six monthly periods. There were very few earnings shocks, in fact results in the period were generally at or above expectations. The persistent driver of price declines was the fear of future property value declines. REIT status was no defense. Large scale redemptions in open ended property securities funds made them forced sellers and the declines became almost self feeding. Shorting was also well in evidence. A few companies made share buybacks into Treasury but these were generally desultory and of no real consequence. Some smaller stocks, notably many of those issued on AIM over 2005 and 2006, have virtually ceased to be marketable. The Trust's exposure to these stocks is mercifully very light (around 1% of the gross assets). We are watching this area however in the hope of finding some major bargains if sellers decide that they are prepared to take any price to offload the shares. In the larger stocks liquidity has been generally good. Currently the market is in that mood where almost all news is bad news. If a company produces a better than expected valuation result then it must have dozy valuers. Property share prices are clearly discounting substantial NAV declines over the coming months, but that is no guarantee that the stocks will not react downwards again when the NAV declines are announced. Meanwhile we welcome the decision by the board of our largest investment, Land Securities, to explore a three-way split of the business and we think that this move will enhance the company's long term returns.
jonwig
17/11/2007
10:30
Agreed, Cerrito ... and chasing the shares in the sector with the biggest discount to NAV (eg. Capital & Counties) might not be the best move, though tempting!
jonwig
17/11/2007
09:35
Jonwig Thanks for setting this up was in some years back and sold at 80p because I thought it was toppish and went back in too early 2 months ago at 204 for a smallish amount. I rate Turner very highly; as I do not have the time to follow individual stories all that closely this make sense for me and no doubt I will be buying more in a few months time .
cerrito
17/11/2007
08:19
Whilst I wouldn't invest in Russia, Eastern Europe has its attractions, and I've bought a few shares in Dawnay Day Carpathian [DDC], where rising Euro should help. Also no sub-prime worries as far as I can see. Peter Salisbury? Can't help there, though one of that name heads Maquarie Bank of Australia. I've added a chart for TRYS to the header.
jonwig
16/11/2007
19:59
ah thanks I'll look at TRYS as well about a month ago smaller European prop cos (especially Russia) were being touted as next good thing personally I smelt a ramp but what do I know where do I know Peter Salisbury from I'm trying to remember??
chairman2
16/11/2007
18:48
hello Ch2. the Sigma shares are a separate pool with investment in smaller cap property companies. When they were created, existing ord holders could convert part of their holding. It's explained here (from June 2007): http://www.investegate.co.uk/Article.aspx?id=200706211036027673Y Their code is TRYS.
jonwig
16/11/2007
13:51
Hi Jon following your comments on the Land Board have added this to my watch list and plan to do some research Obviously spoted the split into ord and Sigma shares this summer are the two shares still bundled together - ie does a purchase of TRY get you ORD + Sigma?
chairman2
05/11/2007
12:32
Haven't looked yet in detail, but the sector is beginning to have attractions, and this may be a relatively 'safe' way in. Note also almost daily share buybacks. These seem to be 25k-250k, and/or new Sigma shares at similar rates.
jonwig
05/11/2007
12:31
hxxp://www.trproperty.com/home With commercial real estate stocks priced up to 40% discount to NAV, and TRY on a 16% discount (Nov 2007) to its portfolio (largely in liquid UK and European companies), this should be an attractive way of buying into the sector with a spread of assets ahead of a bounce. TRY: NAV = 130p (20 Nov 2008) Disc = 23% TRYS: 59p, 34% Portfolio top holdings, 30 June 2008 TRY: Unibail-Rodamco .... 14.13% Land Securities .... 12.19 British Land ........ 5.58 Segro ............... 3.50 Big Yellow .......... 3.23 Hammerson ........... 3.11 Fonciere des Regions. 2.98 Klepierre ........... 2.60 Liberty Intl ........ 2.33 Castellum ........... 2.32 TRYS: Unibail-Rodamco ..... 9.51 Land Securities ..... 9.04 British Land ........ 4.69 Great Portland Ests . 4.50 Hansteen Holdings ... 4.48 Big Yellow .......... 4.29 Kardan .............. 3.80 Castellum ........... 3.66 Fonciere des Murs ... 3.16 Soc Fonc Paris ...... 2.72
jonwig
10/7/2007
17:52
Hi Brad I have decided to subscribe for the basic 20% offer. I have held these for several years and have done pretty well. The warrants were even better, pity that they have expired. Good luck. BT
bluetooth
10/7/2007
14:09
TR Prop has been a major holdng in my portfolio for the last five years and I have done well from them but price has been drifting rather recently and so I am prepared to go with the management's ideas. I have taken up the 20% offer.
tuckswood8
09/7/2007
21:37
Hi Bluetooth, I think from memory the deadline is 17th July, but your sipp co may need you to do this sooner hence the 12th july deadline, will you be taking up the offer? I am still undecided...
brad44
09/7/2007
17:45
Only just been notified of the Sigma offer by my sipp co. Answer has to be back by 12 July. Here is a link to the prospectus and shareholder circular. http://www.trproperty.com/news/sigma/TRPIT_Sigma_Prospectus.pdf http://www.trproperty.com/news/sigma/TRPIT_Sigma_Shareholder_Circular.pdf BT
bluetooth
24/6/2007
18:39
Anybody taking up the Sigma offer? anybody got any views on this?
brad44
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
ADVFN Advertorial
Your Recent History
LSE
TRY
Tr Propert..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20211025 02:07:57