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 Shares Traded Last Trade
  -1.00p -0.45% 221.00p 156,837 16:35:14
Bid Price Offer Price High Price Low Price Open Price
221.00p 222.50p 223.50p 215.00p 215.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 173.68 48.17 32.20 6.9 277.0

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Date Time Title Posts
15/11/201812:25UAI - formerly Development Securities1,221
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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16:52:01221.98132293.01O
16:51:42221.0216,78637,100.75O
16:35:14221.008471,871.87UT
16:29:00222.5012.23AT
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DateSubject
19/11/2018
08:20
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 222p.
U And I Group has a 4 week average price of 207p and a 12 week average price of 207p.
The 1 year high share price is 253p while the 1 year low share price is currently 176p.
There are currently 125,352,419 shares in issue and the average daily traded volume is 61,811 shares. The market capitalisation of U And I Group is £277,028,845.99.
23/5/2018
15:27
spob: Questor: U+I’s shares are still held back by the sins of its past – buy before they recover Richard Evans The Telegraph 23 May 2018 Https://www.telegraph.co.uk/investing/shares/telegraph-questor-share-tip-buy-ui-formerly-development-securities/ One of this column’s recurring themes is to find businesses that have moved on from past problems but whose share price has not kept pace with events. This seems to be what has happened at U+I, the property group that proved a disappointment for investors when it was known as Development Securities. It tapped shareholders for money in the wake of the financial crisis, saying it wished to exploit opportunities thrown up by that crisis, but investors who took part in the fundraising are still sitting on paper losses as the share price remains below what they paid for new stock. The group’s management team at the time also annoyed investors by setting up a remuneration scheme intended to work on a project-by-project basis, which meant that they could be due bonuses for the performance of individual developments independent of the fortunes of the group as a whole. The company now has a new name, new management team, and a new, more successful strategy, but the share price fails to reflect the value of its assets because of lingering poor sentiment connected with the group’s past, according to the managers of one highly regarded fund. “This was not a good company when it was Development Securities, but it has now been re-engineered,” said James Lowen, co-manager of the JO Hambro UK Equity Income fund. “However, its valuation is still being driven by past perceptions and this is where the investment opportunity lies: the company’s net asset value is about 300p and expected to grow but the shares are at about 235p.” U+I describes itself as “a specialist regeneration developer and investor in the fast-growing London, Manchester and Dublin city regions”. It makes money by building new developments, by increasing the value of land holdings by obtaining planning permission and by improving existing properties. Many of its developments are mixed-use and it has close relationships with public bodies such as local councils and Network Rail. “A lot of what it does is right in the eye of government policy: politicians want more housing, especially affordable housing,” Lowen said. “U+I works with councils and Network Rail to release land for development. Councils affected by austerity need to get value out of their assets.” He said the company’s deputy chief executive, Richard Upton, who joined from Cathedral Group, a specialist regeneration developer, when Development Securities acquired it in May 2014, was instrumental in positioning U+I to take advantage of this policy change on the part of local authorities. “The company works in partnership with councils so it tends to experience fewer planning problems than other more ‘plain vanilla’ property groups,” Lowen added. U+I tends to concentrate on a small number of relatively large projects and its execution record is good. It has achieved its target of a 12pc annual return on investment and, of its nine separately disclosed major projects last year, only one experienced difficulties. “This is the only problem among the separately disclosed projects in our three years of holding the stock,” the JO Hambro manager said. He added that even if U+I could not close the gap between its net asset value and share price, investors would still benefit from its 12pc annual investment gains. A third source of returns, which he described as the “icing on the cake”, was a pipeline of promising developments whose value was not yet accounted for on the company’s books because they would not come to fruition for several years. “These are massive, exciting projects,” he said. “One is in Manchester, next to Piccadilly, then there is a 700-acre site in Harwell, Oxfordshire, and a mixed-use development in Westminster. “We don’t even have to consider what these will be worth given the valuation gap now. When the shares reach 275p I’ll take a look.” Other attractive features of the stock are the 17.9p per share dividend, more than twice the previous year’s, and the significant personal stakes held by the management. Questor says: buy Ticker: UAI Share price at close: 234p
03/5/2018
09:11
shauney2: A snippet from todays Shares magazine who advise to keep buying In a recent research note on the stock, newly-appointed joint house broker Liberum issued a price target of 280p. Analyst David Brockton commented: ‘The combination of visible attractive returns and an unjustified valuation discount enhances the share price upside.’ Based on his forecasts the shares trade on a 28% discount to the 305.9p net asset value predicted for the year ending February 2019, and yield 6.4%.
29/4/2018
08:01
bluerunner: UAI should gain greater media coverage in the media this week. I would be amazed if it is not covered in ST's update tomorrow, given that it is in his Bargain Portfolio for 2018.Shares mag should also be updating as they also covered it.Perhaps this will be the catalyst for some upward momentum in the share price.
26/4/2018
14:12
this_is_me: In theory I always like to see buy backs since over time they increase value (and the wife can't spend the dividend) In practice the majority of boards are completely clueless regarding buybacks and frequently only buy back shares at the top of the market rather than when the share price is low. A 9% buyback programme at the current share price instead of a dividend would be much better value than any of us reinvesting our dividend with accompanying income tax etc. costs.
26/4/2018
06:50
carcosa: Liburum have initiated coverage of UAI (including today's results) and issued an in depth 40 page report (available at hxxps://www.research-tree.com). The initial summary reads: U+I has a substantial pipeline of regeneration projects which could generate significant development profits. We see ~50% upside to NAV from developments, of which the majority will be returned to shareholders. The combination of visible attractive returns and an unjustified valuation discount enhances the share price upside. U+I delivered 12% total returns in FY18, yet trades at a 34% discount to NAV. We initiate at BUY with a 280p target price.
25/4/2018
18:44
hedge fund harry: I'm optimistic for tomorrow for the reason UAI had only delivered £7.2M in development and trading gains in the first half of the year but the full year update has confirmed development and trading gains of £65M-£70M. Talk about a strong second half of the year - I'm surprised the share price is still this low.
18/4/2018
11:52
hedge fund harry: IC Bargain Shares by Simon Thompson U and I Group (UAI) Main: Share price: 206p Bid-offer spread: 202.5 -206p Market value: £258m Website: uandiplc.com 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.
20/2/2018
18:12
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.
04/2/2018
13:42
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: uandiplc.com 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.
15/11/2017
16:50
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.
U And I share price data is direct from the London Stock Exchange
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