Share Name Share Symbol Market Type Share ISIN Share Description
U And I Group LSE:UAI London Ordinary Share GB0002668464 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.10p +0.05% 192.00p 191.60p 193.00p 194.60p 190.00p 190.00p 38,837 16:35:21
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 123.9 -1.7 -2.4 - 239.91

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Date Time Title Posts
20/2/201819:48UAI - formerly Development Securities1,011
14/9/201616:17PROPERTY REIT in BARGAIN territory.10
28/1/201616:35*** U and I Group *** 1
09/11/201518:35U+I Group3

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U And I Daily Update: U And I Group is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker UAI. The last closing price for U And I was 191.90p.
U And I Group has a 4 week average price of 187.20p and a 12 week average price of 176p.
The 1 year high share price is 210p while the 1 year low share price is currently 163p.
There are currently 124,952,419 shares in issue and the average daily traded volume is 72,251 shares. The market capitalisation of U And I Group is £239,908,644.48.
rathkum: Having being tipped in IC,Shares Mag. and one or two other publication recently, the share price has done nothing but retreat. I sm not so optimistic about share price appreciation even if they deliver on their profit forecast. It's one of those companies where it is very difficult to forecast what they can deliver in the next financial year and the market doesn't seem to be keen on such companies. The share price ran up tp 210p last month and has done nothing but retreat to the current 190p.
bogdan branislov: Interesting how the market has taken a 'we will believe it when we see it' approach to U and I's annual results. U and I have always been one of the most up front companies in terms of informing of delays or problems, this was one of primary reasons for investing in U and I. The idea that they would maintain a pretence of being able to hit full year targets, only to let us down at the last minute, which would be so out of character and while all this director and person associated buying is going on, it is not going to happen, targets will be hit. We should have an announcement confirming this in about 3 weeks. Of course when the results come out, end of April, we will be working on a new forward TBV, probably c330p+ per share - I think IC et al would maintain a buy rating up to about 30% to 50% ahead of forward TBV - a share price from about c430p upwards, but if we take the best part of a year to get there we will be closing in on another year end and another forward TBV - you can see where this is going. Bogdan
speedsgh: Relax gents. The share price is for now firmly within the 18 month uptrend channel.
bogdan branislov: IC Bargain Shares write up. Bear in mind Simon almost always talks to management before recommending - he also seems confident re the current year: U and I Group (UAI) Main: Share price: 206p Bid-offer spread: 202.5 -206p Market value: £258m Website: If, like me, you believe that U and I Group (UAI), a specialist property developer and investor in regeneration projects, will deliver the £65m to £70m of development gains in the financial year to end-February 2018 as promised by its directors, then the shares are an absolute bargain. The company, formed by the merger of Development Securities and Cathedral Group in 2014, has a £6bn portfolio of complex, mixed-use, community-focused regeneration projects, and owns an investment portfolio worth £173m. The strategy is to unlock the value in urban sites in the London, Manchester and Dublin city regions. For example, at the end of last year, U+I sold a site in Waltham Forest, north London, to housebuilder Telford Homes (TEF) for £34m, having purchased the site off-market in March 2016 and secured planning permission for a £130m mixed-use regeneration project. That lifted total gains booked by U+I in the current financial year to £26m. U+I also announced that it had entered into a joint venture agreement with a consortium comprising McArthurGlen, Aviva Investors and the Richardson family to deliver a new designer outlet in Cannock, near Birmingham. The £160m project will see the site developed into a 26,500 sq m designer outlet scheme. U+I has retained a 12.5 per cent interest in the joint venture and the consortium acquired the remaining stake, thus enabling U+I to recognise the profits from the scheme as outlined in guidance given at the time of the interim results last October. Expectations of the company delivering the aforementioned £65m to £70m of gains were further enhanced after U+I announced in late December that it has let 94 per cent of office space at its development at 12 Hammersmith Grove, West London, with the remaining 6 per cent of space in solicitors’ hands. Chief executive Matthew Weiner confirmed that U+I is bang on course to book projected gains of between £9m and £11m from the project, which is being developed in partnership with institutional investor Aberdeen Standard Investments. The point being that after accounting for all these gains, I reckon U+I’s underlying NAV per share is set to rise from 278p in February 2017 to in excess of 300p by the end of this month, as analysts predict, suggesting a closing book value of £380m. This implies the share price is trading on a 33 per cent discount to spot NAV, a hefty discount considering the company’s investment portfolio of 17 properties had a carrying value of £173m alone at the last balance sheet date, and boasts a contract rent roll of £12.6m. Moreover, there is likely valuation upside as the company disposed of £22.5m of non-core assets in the investment portfolio in the first half to end-August 2017, all above book value, and is planning a further £27.5m of sales too. As is the nature of a property company, U+I has borrowings, but is certainly not overleveraged. At the end of August 2017, the company’s net debt of £159m represented a comfortable 47 per cent of its net assets of £337m with the aforementioned £12.6m annual rent roll covering the 4.4 per cent average interest charge payable on its debt facilities. Since then the company has agreed terms to restructure its long-term debt facility with Aviva, which will shave annual debt servicing costs by 0.75 per cent. Importantly, the quality of the tenants is high and voids are low, with governments and listed companies accounting for two-thirds of the mix, including household names such as Waitrose and Sainsbury. This mitigates the risk of tenant default. Indeed, over 99 per cent of rent is collected within 30 days. The development pipeline is impressive too. It includes the £150m Preston Barracks project in Brighton, the largest regeneration project to have been consented in the City. Also, following a review of the delivery of the company’s wind farm projects, and after taking into account strengthening investor demand for alternative assets with long-term income streams, U+I is now delivering projects on a forward sale and build-out model rather than individual site sales. This funding structure is in line with its business model for regeneration projects. It’s sensible to do so as it delivers a higher level of profitability per project, with the first wind farm due to realise between £6m and £8m of profit in the second half of the financial year to end February 2018. So, with the company set to report a sharp hike in NAV per share, and rewarding shareholders with an annual dividend of 5.9p a share, implying a dividend yield of close to 3 per cent, and special payouts on top, I feel investors are missing a trick here. Indeed, the board reiterated guidance at the interim results that the business is on track to deliver £155m of development gains in the next three years to generate a 12 per cent annual post-tax total return. The implication being that the shares are rated on a massive 40 per cent discount to likely NAV at the end of February 2019. If, as I suspect, the company’s management delivers on the £65m to £70m first year target of development gains when it issues its full-year results at the end of April this year, then the huge share price discount to NAV is set to narrow markedly. Buy.
rathkum: Exactly. Looking at the share price reaction it seems unlikely to achieving that figure of £20.
mikett1: I'm looking forwards to seeing if the market really has priced in this financial years expected earnings. I don't believe they have. Particularly private investors, who I don't think are able to look past the fact UAI made a loss last year. If UAI come in anywhere near expected earnings, which it looks very likely they will, the share price will surely rocket.
deadly nightshade: bogdan i just tried a dummy sell first thing this morning and could sell all my shares if i wanted at 193 even though share price is near 199, your right looks like mm's are after some cheap shares. you have got to watch the spread here its massive in the morning then shrinks to next to nothing in the afternoon. i will carry on holding here
bogdan branislov: Shares Mag: Property regeneration group U and I (UAI) is one of the most compelling value opportunities in the property sector and investors should snap up the shares before the wider market cottons on. U and I trades at a 33% discount to net asset value per share of 300p, according to stockbroker Peel Hunt. Yet it is on track to deliver one of the most substantial total returns in the sector if management guidance is met. The company hopes to deliver a post-tax return of 12% a year in the next three years, underpinned by annual development and trading gains upwards of £50m. This helps support a prospective yield of nearly 9% based on forecast ordinary and special dividends. Over a three-year period, the yield is expected to average 7.5%. The business, formerly known as Development Securities, changed its name and strategy in October 2015 following the £27.4m acquisition of regeneration specialist Cathedral Group. It is now focused on large regeneration projects in London, Dublin and Manchester. Following the completion of the £34m sale of its Blackhorse Road site in north east London to Telford Homes (TEF:AIM) at a price which topped guidance (20 Dec), U and I is on track to deliver guidance for trading gains of £65m to £70m in the financial year ending 28 February 2018. PPP FOCUS WILL PAY OFF The company has secured a lot of public private partnership (PPP) work since its relaunch (£1.2bn worth over the last 18 months) where it teams up with local authorities to unlock public land for development. Peel Hunt reckons this focus will deliver several benefits for the business. ‘We believe that a focus on larger, increasingly PPP led schemes, should not only improve profitability but also leverage on the core strengths and skills of the business.’ U and I books profit from trading assets in the short-term and from a portfolio of assets which includes its own completed developments and other projects with regeneration potential. Admittedly, previous performance from this investment portfolio has been disappointing and this, along with historic cost issues, helps account for the discounted equity valuation. By more closely aligning the portfolio with regeneration it is hoped this underperformance can be addressed. Combined with the development of trading gains in line with management guidance and growing confidence in the recurring nature of supplemental dividends, we think the share price will do well in 2018. (TS)
speedsgh: Yes, UAI (ex-DSC) seems perenially unloved by the market but there may well be a good reason for that. Not least the highly disappointing NAV growth. Will be interesting to see whether the share price is shown any love if they manage to meet their target of £65-70m of development/trading gains in the current FY ending 28 Feb 2018, which should lead to a substantial special dividend being paid to shareholders around June 2018.
rathkum: 2 great stocks for under £5 Rupert Hargreaves | Wednesday, 15th November, 2017 | More on: HLCL UAI Image: Helical: Fair use Property investment and development company Helical (LSE: HLCL) has spent the last year restructuring its portfolio towards higher quality assets, and it looks as if this is starting to pay off for the firm. Since April the company has sold £315m of investment assets at prices in the aggregate of 2.5% above book value. These disposals have funded reinvestment activities as well as debt reduction. Net borrowings have fallen by £236m, substantially reducing the firm’s loan ratio from 55%, at 31 March 2016, to today’s pro-forma ratio of 43%. This debt reduction will be good news to shareholders as Helical’s high level of debt has historically been a major criticism of the group and its investment case. Now management is focusing on generating the most income from the firm’s portfolio. Within Helical’s results for the six months to 30 September published today, CEO Gerald Kaye said: “With our portfolio of high-quality London and Manchester offices and higher-yielding logistics properties, we now look forward to increasing our income stream from the current contracted rents of £45m towards the portfolio’s ERV of £65m as completed office space is made available to potential tenants in the next 12 months.” Set to push higher This realisation of the company’s full potential could, in my opinion, drive a re-rating of the shares. At the end of September, its net asset value per share was 465p, 51% above the current price. Over the past 12 months, the share price has gained 20% as the restructuring has unfolded and investors have bought into the growth story. Shares in the real estate business are changing hands for less than £5 at £3.08 today. This low share price is not an indicator of value, but the vast discount to net asset value is. As well as this enormous discount, the shares support a dividend yield of 3%. Helical is not the only UK property company trading at a discount to net asset value. U and I Group (LSE: UAI) is another deeply discounted income stock. Double-digit returns U and I is a property regeneration company. Profits are lumpy, and the business is dependent on debt to get projects off the ground. However, these factors should not detract from the investment proposition. Management is targeting a 12% post-tax total annual return from property development profits and dividend income. So far this year, the company has generated development and trading gains of £6.7m taking the level of gains delivered since the start of the financial year to £16.1m, against a full-year target of £65m to £70m as legacy projects are divested. For the six months ended 31 August, U and I’s net asset value per share was reported at 269p, 42% above the current price of 190p. As well as this deep discount, City analysts are expecting the firm to distribute all excess earnings to investors for the fiscal year ending 28 February 2018. A dividend payout of 17.9p per share is projected, giving a potential dividend yield of 9.3%. The payout is expected to fall back slightly next year, but the yield is expected to remain at an attractive 6.2%. Top income stocks Property stocks like Helical and U and I are great defensive income plays, highly suitable for any portfolio. Indeed, income stocks should always form a significant component of your portfolio as research has shown that over the long term, dividends can account for 50% of investment gains.
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