[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 76 to 99 of 275 messages
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
30/9/2008
12:55
H - gearing of TRY has been reduced since the market drop started early last year. It's virtually zero now, from memory. The discount to NAV is over 20%, and the underlying property companies are themselves valued at a discount of 50% and over. As a long-term investment trust they have neither will nor inclination to sell their investments.
jonwig
30/9/2008
12:49
Very good j, however, could the Fund sell these assets in this market? I'd like to see half this price! No doubt you are right but .. are the properties paid for by cash funds, or through loans, and are they geared? H.
hectorp
01/8/2008
15:32
ISA - quite, hence the title of my thread. Since 0.6 x 0.8 = 0.48, that means TRY sits on a ~50% discount to underlying assets.
jonwig
01/8/2008
10:04
Discount now is about 20% which is double the long term average for TRY. Remember most underlying shares are themselves on discounts of 40 plus
isa23
31/7/2008
07:35
Yes, many thanks for that, Cerrito. The discount is narrower than most, surely, because it holds relatively little in direct property (as do others), more in shares of property companies? I called a bottom much too early before (TRY at 170, 180p) - now might indeed be closer!
jonwig
31/7/2008
00:34
Thanks for that report nothing on Tax following the REIT conversions was there?
chairman2
30/7/2008
23:15
Even though i do not hold shares at the moment went to the AGM as wanted to hear what Turner had to say. Gross cash now £77m. Commented that nowhere to hide and the top 2 shares in the portfolio as of now are the same at 308 and 307 Unibail and Land Securities. On a see through basis 30% of their exposure is in London and 17% in Paris and see through leverage has reduced from 37% in March to 33% now. They have bought nothing since May and virtually nothing apart from their own shares since end of the last financial year ie March. Very pleased with a deal they did with Waitrose in their own direct portfolio at the Colonnades Bayswater where which my notes tell me has had the effect of increasing the rental income by 5% This represents 4.6% of total assets. This is the only retail property they have. Discussed some characteristics of the European property market compared to the UK. Said that the Contient's annual RPI indexation in rents is useful but leases tend to be shorter with tenants used to greater mobility. The annual reviews in France have been all the more attractive as they are tied to construction costs. Interesting that he specifically expressed concerns at how independent the valuers are on the continent. In terms of the current market commented that there had been few forced sales to date but did wonder aloud if the banks now that they have fortified their balance sheets with a rights issue will be more aggressive on defaults. Indeed commented that there is little good quality property on the market. Commented on the resilience of prime property deals compared to secondary property deals. Did highlight that one difference between now and 1990 is that then there was 100m sqft of office space in construction and the comparable figure this year is 12m sqft. Saw UK property shares to lead UK property by 6 to 9 months. Saw absolutely no reason to have an independent valuation done more than once a quarter and indeed seem to think one every six months was OK. They have £40m of debenture loans of which £25m will be repaid this November. Did not see them issuing any more given their inflexibility and the many other ways of raising finance that there are now. Did not really say when he felt the bottom would be but got the impression we were getting near it. Given that on a net basis TRY has no debt and given the relatively high quality of its assets it is no wonder that its discount to NAV at 17% is very modest compared to other property trusts and its downside is relatively limited.
cerrito
28/5/2008
15:08
on a more positive note, we may be due a special divi once HM refunds VAT
isa23
28/5/2008
12:32
as one would expect a very good overview of the property market in Turner's review in the prelims published today and I would reccomend reading its rather gloomy perspective
cerrito
22/5/2008
16:48
inertia works for me the best invvestments are usually the ones I have left alone left to their own devices so to speak. I smell the cordite - is it the begining of the panic or is this the panic itself?
chairman2
22/5/2008
16:47
Yup - I've been known to do it myself ... but my timing ain't always so clever! (Nor with switching out of cash.)
jonwig
22/5/2008
16:43
switching to cash isnt that called selling!! lol
chairman2
22/5/2008
16:42
A hard one to figure, Chairman! The share prices of the investee companies already reflect all the info about their NAVs and expectations for them. And we know that discounts widen in bear markets, so is there double counting here? An advantage of holding TRY is that we buy management's ability to switch - to continental Europe, or even cash.
jonwig
22/5/2008
16:36
seriously the discount to NAV must lag the discount changes on the underlying investments depending at the very least on monthly valuation metrics
chairman2
22/5/2008
15:41
ISA - 19% or so must be as high as we've seen during this downturn. Their NAV has been fairly resilient against the sector.
jonwig
22/5/2008
15:11
never argue with the market its right today who can say tomorrow
chairman2
22/5/2008
15:10
Is a 19% discount for TRY really justified!!
isa23
13/5/2008
12:41
no change in NAV - but watch this spacefor May
chairman2
28/3/2008
21:46
free stock charts from www.advfn.com
tina1
04/3/2008
12:51
free stock charts from www.advfn.com Paul this is for you. UW
umitw
22/2/2008
11:19
Anyone know if TRY will make a pre-close statement next month? Incorporating the Jan Feb 08 market price impacts might produce some interesting information for sector watchers.
chairman2
13/2/2008
07:26
I missed that, Ch. The index might have something to do with it. Alliance Trust [ATST] will join the FTSE100, but they said it was no big deal, as they will no doubt be pushed out when markets recover.
jonwig
05/2/2008
14:40
See that Pru has sold out including its tracker funds any ideas? or is it simply that TRY has dropped out of the FTSE 350??
chairman2
30/12/2007
14:59
European property remains the area to watch -Eastern Europe - for the really brave
chairman2
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 01:30:09