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UKCM Uk Commercial Property Reit Limited

0.40 (0.69%)
01 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Uk Commercial Property Reit Limited LSE:UKCM London Ordinary Share GB00B19Z2J52 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.40 0.69% 58.00 1,607,030 16:35:06
Bid Price Offer Price High Price Low Price Open Price
58.10 58.20 58.40 56.90 57.90
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 73.38M -222.33M -0.1711 -3.40 754.96M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:55:36 O 1,247 58.00 GBX

Uk Commercial Property R... (UKCM) Latest News (11)

Uk Commercial Property R... (UKCM) Discussions and Chat

Uk Commercial Property R... Forums and Chat

Date Time Title Posts
26/11/202322:39Uk Commercial463
24/6/201409:35Property Capitulation-7.5% yield192

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Uk Commercial Property R... (UKCM) Most Recent Trades

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Uk Commercial Property R... (UKCM) Top Chat Posts

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Posted at 02/12/2023 08:20 by Uk Commercial Property R... Daily Update
Uk Commercial Property Reit Limited is listed in the Real Estate Investment Trust sector of the London Stock Exchange with ticker UKCM. The last closing price for Uk Commercial Property R... was 57.60p.
Uk Commercial Property R... currently has 1,299,412,465 shares in issue. The market capitalisation of Uk Commercial Property R... is £754,958,642.
Uk Commercial Property R... has a price to earnings ratio (PE ratio) of -3.40.
This morning UKCM shares opened at 57.90p
Posted at 21/11/2023 07:07 by spectoacc

"UKCM has been informed by its largest shareholder that it does not support the Possible Merger on the terms proposed."

"Picton is considering the feedback that it has received from shareholders in Picton and UKCM, following the announcements on 8 November. A further announcement will be made in due course."
Posted at 09/11/2023 16:16 by pavey ark
I did like UKCM and was quite happy with 6.5% yield as everything... loan finance, gearing etc was sound.....very sound ....but !!??

I sold last week at c. 59p as I thought the price had got ahead of itself (very slightly) and had a buy order in to buy back at a lower moving on.

This deal looks rather complicated/unclear and fussy.

Quite happy for anyone to come along to any company and offer any amount and as a shareholder I can then decided.

Perhaps if I took the time and effort but ....can't be bothered.

Had a top up of API today such a price that I thought I must have hit "sell" instead of "buy" that doesn't happen very often.
Posted at 26/10/2023 13:46 by skyship
How UKCM sees the commercial property sector going forward:
Posted at 30/9/2023 15:44 by skyship
Specto - the whole commercial property concept is built upon debt. You borrow, you buy, you asset manage, you receive the rents and you pay shareholders their dividends.

Debt management is very important - agreed. Best to transact at a low rate with long maturity.

If interest rates move against you - margins will suffer. DCF valuations will erode NAV. Share prices will fall to reflect the new paradigm.

However, at some stage, interest rates are very likely to fall back; and when that happens NAVs will rise and cavernous discounts will close.

It is a judgement call whether current valuations present an opportunity; but in a cyclical game it is better to be ahead of events.
Posted at 29/9/2023 06:04 by adae
Except that in your example, 100k/5k is probably now 70k in the reduced NAV. So perhaps the share price is 50, NAV is 70, income may have gone up too.
Posted at 28/9/2023 13:03 by skyship
I don't own UKCM; but I like the new Chairman's ability to talk the talk. Also, as per DrB's post above, here is another property expert who believes in the one thing Specto really objects to: NAV.

"While we are aware of the share price dislocation, we believe earnings growth through active asset and company management, a strategic portfolio allocation set for growth, and strong balance sheet discipline will create the best foundations for the stock to shine when, or ahead of, a recovery in the real estate sector."

The NAV discount here is a "mere" 33% - compare that to 41.5% at API and a bizarre 43.5% at EBOX. This latter being sold down by one institution wanting to exit regardless of price, even though now on a seemingly secure 8.5% yield.

So, another BoD wondering what can be done about the share price Matters under consideration rather than a Strategic Review. A PHNX buyout would be the best solution for shareholders.
Posted at 15/8/2023 13:44 by pavey ark
Sold half my holding here two months ago but bought back today.....for 6% less and in time for the dividend.
Not the sort of thing I usually do but the circumstances/figures round the company changed.

Fairly compelling figures round UKCM but not favoured by some on here.

Any investor knows that share prices can always go lower and asset values can always fall further....."you pays your money you takes your chance"

6.8% yield for such a well set up "prudently managed" company is fine by me.

I suspect it is a management aim to get back to the 2020 pre covid dividend which would give a yield of 7.3%
Posted at 26/6/2023 08:13 by giltedge1
I am confident UKCM will pay dividend at current level next few years but how low will share price go?, Cineworld are continuing to trade thank goodness. I presume Hatfield site rent will continue to be paid next 1 _ 2 years, no details given & being in SE can be repurposed or sold. Yes Mgt has been poor last 2 years, Used to be highly rated, directors need to step up in my opinion or wind up in next continuation vote.
Posted at 10/5/2023 13:22 by spectoacc
I reckon wages, materials etc up 30-50%. Difficult to equate that to overall contract cost - but the obvious delays also add costs.

Say an overall say 20-25% overrun, maybe an extra £15-20m to UKCM. As you say, they'd undoubtedly stump up.

Of more concern is that it's a revenue lease, and they've never divulged what they expect to get on it. It's the wrong side of the station and who knows what the economy will look like in late 2024/2025?

I'm suspicious of development where it's been purchased wholesale from someone who's put it together. Doing an EPIC-style Haddington deal is great, and all the REITs are capable of things like that - spot an opportunity, buy some land (or own it already), put it through planning, develop it.

That's now what UKCM have done. They've bought (at near the top of the market) a deal that someone else has assembled. Maybe it works out just fine, maybe it doesn't, but shareholders have no way of being able to form a judgement because UKCM won't divulge any info.

And UKCM's track record on gearing in particular has been very poor.

A reminder they "acquired this opportunity" in May 2022, having no doubt been in discussions for many months:
"..A hotel development opportunity in Leeds, from Marrico (Sovereign Square) Ltd, a joint venture between Marrico LLP and Helios. "

It isn't a vast chunk of the NAV (c.5% - currently..) but is a chunk of the gearing.
Posted at 09/4/2023 16:01 by spectoacc
Phoenix funds swapped physical property for the stake in UKCM, via seeding the IT with the property (and several later transactions, if memory serve).

ie rather than their various funds holding physical property, they preferred to hold shares in an entity that took on the management.

I don't know enough about the Phoenix funds to know if they'd ever want to cash out, but Phoenix themselves clearly aren't a bidder, and they've sold no UKCM shares over the past years. They could in theory sell out of UKCM and buy into another property co to keep exposure, but why would they?

These Life funds tend to be very long duration.

Someone else may have better knowledge of the funds/Phoenix. But unlike eg the very focussed MLI, or the not-actually-bid-for-yet EPIC, UKCM's very generalist.

@giltedge1 - I don't see Precision Park as the big error, true it was "let's buy now everything's gone up" but still a quality asset. The Hyatt deal was the big clanger IMO: no certain income, large build liabilities, no income until it's finished sometime in 2024 (choose your month), looks very expensive for what is effectively regen.

I'm long UKCM but realistic about what it is. "Cheap but poorly managed".
Uk Commercial Property R... share price data is direct from the London Stock Exchange

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