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UKCM Uk Commercial Property Reit Limited

69.80
0.40 (0.58%)
28 Mar 2024 - 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 Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.40 0.58% 69.80 70.10 70.50 70.80 69.10 69.60 2,317,620 16:35:24
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 73.38M -222.33M -0.1711 -4.12 916.09M
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 69.40p. Over the last year, Uk Commercial Property R... shares have traded in a share price range of 47.15p to 70.80p.

Uk Commercial Property R... currently has 1,299,412,465 shares in issue. The market capitalisation of Uk Commercial Property R... is £916.09 million. Uk Commercial Property R... has a price to earnings ratio (PE ratio) of -4.12.

Uk Commercial Property R... Share Discussion Threads

Showing 126 to 149 of 700 messages
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DateSubjectAuthorDiscuss
28/4/2013
20:25
britishb, why 6% by your calcs, not 7%+? tia..
banj
26/4/2013
11:24
You say "obviously overvalued" Skyship but UK 10 yr gilts yield 1.7%. In that context a very lightly geared property play which could pay a covered dividend yielding about 6% (by my calcs) is arguably not obviously overvalued!

The NAV is just a property valuers opinion (same lot who were "valuing" com prop so much higher a few years ago!). The cash flow is real. NAV will be down because of lack of finance to invest in com prop in current climate etc.

You were calling a sell on IRP recently because div wasn't covered but I calculated covered div would be 10% at that time. Once again I cleaned up.

Forget NAV and look at cash flow IMO!

britishb
26/4/2013
06:29
At 73.5p the shares offer an uncovered yield of 7.1% and a 5.7% premium to the underlying NAV!

Obviously over-valued; but unlikely to fall far below 70p as this is a stock controlled by institutions rather than PIs.

skyship
26/4/2013
06:25
Highlights

-- NAV per share* as at 31 March 2013 was 68.6p (31 December 2012: 69.6p), a fall of 1.4%;

-- The portfolio is now valued at GBP1,003.6million. This represents a like-for-like decrease of 0.7% in the quarter before capital expenditure, in line with the IPD Monthly Index and primarily driven by capital value falls in the Company's shopping centre and Rest of UK High Street retail exposure;

-- Void rate remained broadly flat at 5.0% as at 31 March 2013, significantly below that of the 9.9% benchmark;

-- The Company intends to declare a first interim dividend, in respect of the period from 1 January to 31 March 2013, of 1.3125p per Ordinary Share, with ex-dividend and payment dates of 8 May 2013 and 31 May 2013 respectively.

skyship
26/4/2013
06:21
First Interim Dividend for 2013

UK Commercial Property Trust Limited today announces its first interim dividend payment, in respect of the financial period from 1 January to 31 March 2013, of 1.3125 pence per share as per the schedule below.
Ex-Dividend Date - 8 May 2013
Record Date - 10 May 2013
Pay Date - 31 May 2013

cwa1
26/4/2013
06:20
Christopher Hill, Chairman of UKCPT, commented:

"The first quarter of 2013 saw a slight reduction in portfolio valuation, again largely driven by weakness in values within our retail holdings outside London. However, the stronger performance of our London retail assets and good progress in our asset management initiatives elsewhere in the portfolio offer reasons to be more optimistic about the outlook for the year. Broader economic indicators are beginning to show signs of gradual improvement, and we are confident that, with the high quality of our portfolio and the skills of our specialist asset management team, we are well positioned to benefit from any improvement in the market."

Slight signs of room for enthusiasm then?

cwa1
18/4/2013
15:55
Seems to be holding up reasonably well here.
rcturner2
23/3/2013
10:09
Net cash income for 2012 was £53.6m, which is a slight improvement from 2011's £52.7m.
But, the dividend costs them £63m.

They talk well about their policy of "enhancing dividend cover", but they really should state explicitly that the dividend is uncovered and why they continue to maintain it.

jonwig
20/3/2013
07:21
Finals out today:-

Commenting on the results, Christopher Hill, Chairman of UKCPT, said:
"The Board believes that UKCPT is well placed to achieve its objectives by undertaking proactive asset management initiatives to preserve and improve income. The Company has considerable cash resources which can be utilised for income enhancing acquisitions or asset management opportunities. The portfolio is of a prime nature and has a strong and well diversified tenant base which offers the potential for additional income generation. In a low interest rate environment, these factors should ensure that the Company remains an attractive proposition for investors."
Robert Boag,Senior Investment Director at Ignis Asset Mangement (UKCPT's Asset Manager) added:
"2012 saw continued challenges in the broader economy, further emphasising the importance of asset management in preserving and growing income and values. We believe that the overall quality of the portfolio and our ability to identify income enhancing initiatives, even in a market with selective occupier demand, offers solid prospects for future income and capital growth."
"The Company's strong balance sheet gives the opportunity to identify suitable acquisitions, similar to those made in 2012, in a market which continues to be characterised by deleveraging. We will continue to commit capital to sound, income producing assets which offer the potential for implementing asset management initiatives which will support dividend cover. Overall, in the current economic environment, the Company is well placed for the future."

cwa1
21/2/2013
07:34
Might rerate a bit if they followed Picton and paid a covered dividend rebasing for the future
trustman
11/2/2013
14:45
They've just sold a Glasgow property for £10.5m - no mean amount, but no RNS:



Some general info on UKCM in the above, too.

jonwig
25/1/2013
09:56
Just had a small nibble to join you lot here. Good fortune with it all.
cwa1
05/12/2012
15:51
deepvalueinvestor, what other trusts do you hold? The only other one I have in size is Merchants Trust (MRCH) which is yielding about 6%.
hugepants
04/12/2012
20:56
84% covered dividend but lots of cash available to pay. A bit more interesting at 65p and paying a 8% divi. Total return of 6% in 2013 and then hopefully some growth in NAV thereafter?
deepvalueinvestor
06/11/2012
16:48
yep Ive a few SREI and PCTN.
hugepants
06/11/2012
14:46
Hugepants - I reckon the dividend is covered. Downside is the small discount to nav.
Have you looked at SREI yield 9%(should be covered now or very shortly - interims due 20 Nov) discount 28%, ltv 36%

alanji
06/11/2012
12:48
Bought few of these. Goes ex-dividend in about a week. Yielding 7.8% at this price. Is it completely covered though? Gearing only 18.5% which is good.



last results:

"Fall in NAV per share to 72.3p as at 30 June 2012 (31 December 2011 - 75.5p) mainly caused by 2.4% like-for-like decline in value of property portfolio;

Share price total return of 5.9% in the period;

Over five years NAV and Share price total return exceed IPD benchmark and FTSE Real Estate Investment Trusts Index;

Lowest gearing in the Company's peer group at 18.5% and blended average debt rate of 4%;

Attractive annual dividend yield of 7.4% based on period end share price."

hugepants
11/4/2012
07:37
as phoenix held 62% that may improve marketability a little
holts
05/4/2012
16:09
I don't quite understand the Phoenix Life move of placing 4% at 69p which is quite a discount. Doesn't look a great move by Phoenix Life, albeit they are reducing debt so maybe thought it was worth some discount. Bodes the question whether any more sales are expected?
topvest
29/12/2011
12:17
Hello
I have just taken a quick look at these with a view to maybe buying sometime.
According to the Half Year Report to 30/6/11 the Rental Income was some £33.67 million.
The " Investment Management fee " some £3.6 million.

So it looks as though the Investment Manager is taking over 10 % of the rental income in fees. This seems high or am I misreading this ?

Any thoughts/comments?
Thanks

soi
08/8/2011
09:35
You're right - that really is about the sum of it - as per dasv's 10933 on the SHA thread - Goldman Sachs along with the rest of us have no real clue of where we're going.

Question is whether to try and trade the swings or opt out for a while. I'm inclined to the latter on this occasion.

Got a coin - yes, quite a few American Silver Eagles bought this time last year - will be holding on to those for quite a bit longer...future prezzies for grandchildren perhaps!!!!!!

skyship
08/8/2011
08:42
got a coin sky?..lol
badtime
08/8/2011
08:41
Dilemma - share price back to 71p-71.15p. Yield = 7.4%. NAV Discount = 7.5% on 76.9p 30th Jun'11 valuation. XD in two days time. Should they be bought?

Problem is this is solely an institutional stock; and they were mad enough to buy up to a 10% premium - so no knowing what they will do now!

skyship
02/5/2010
15:35
Yes, I would suspect that they may move towards this as it was quite a unique and attractive option for FCPT holders. Not really bothered either way, but I suspect a few FCPT holders are!
topvest
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