Urban&civic Share Discussion Threads

[strathroyal] 14/2/2017 18:47

Interesting that a director has bought shares ahead of the AGM tomorrow, perhaps we'll get a positive update.

ST's point is well made, the shares should be valued as housebuilders rather than property developers in view of the present activities.

[spob] 14/2/2017 17:54

Simon Thompson today

Shares in Urban & Civic have rallied around 7 per cent in the past eight weeks, but still look undervalued on a 19 per cent discount to historic EPRA NAV of 284p, and priced 29 per cent below EPRA NAV estimates of 324p and 332p, respectively, based on forecasts from analysts at Stifel and JP Morgan Cazenove. The valuation uplifts expected are eye-catching, but it’s worth noting that last year unserviced residential EPRA values per plot rose by a third to £24,500 at the company’s 1,432 acre freehold site at Alconbury Weald, incorporating Cambridgeshire's Enterprise Zone, with permission for 5,000 homes; and jumped by 16 per cent to £15,000 per plot at the 1,170 acre site in Rugby where permission has been granted for 6,200 new homes.

Bearing this in mind, the first house sale at Alconbury generated a £64,000 profit and produced an unserviced plot value of £71,000 per private plot, well above the appraised blended plot value of £24,500 calculated by CBRE Limited, an independent firm of chartered surveyors, which was used in Urban&Civic̵7;s last set of accounts. That’s significant because CBRE have conservatively valued the two developments at Rugby and Alconbury at £105m and £197m, respectively, so these account for three quarters of the company’s net asset value of £410m. This means that the difference between the larger site valuation of Alconbury and Rugby, as included in the EPRA valuation, and current land parcel sales to housebuilders is around £91m, a sum worth 60p per share.

I feel that investors are likely to cotton onto this ‘hidden’ value when Urban&Civic next reports results and continue to rate the shares a value buy.

[strathroyal] 01/2/2017 18:31

Nice thought but there's no volume.

[daneswooddynamo] 01/2/2017 16:25

starting to show signs of life again, been buying even more, hopefully patience will be rewarded here as continues to look very cheap

[nurdin] 07/12/2016 12:05

Perhaps start of a rerating? Hope so

[nurdin] 07/12/2016 09:21

I say...:o)

[shaker44] 06/12/2016 12:04

And I thought ripe for a takeover before brexit put a damper on the sector...

[daneswooddynamo] 06/12/2016 12:02

Cheap as chips...but has been for a while!

[nurdin] 06/12/2016 11:00

Had a few...just a small initial tranche

[r ball] 26/5/2016 19:23

thinly traded.

[strathroyal] 26/5/2016 07:46

It's taken a while but momentum seems to be building at last.

[bluerunner] 26/5/2016 07:40

Excellent results.

[daneswooddynamo] 18/5/2016 13:16

not sure it really has fallen that much as yesterday's rise was on very thin volume

[shaker44] 18/5/2016 12:32

Any ideas why the big share price fall today??

[djbilywiz] 13/5/2016 14:59

Anybody got any ideas as to the net asset value per share here?

[r ball] 08/1/2016 21:23

home for ex QED holders?

[daneswooddynamo] 08/1/2016 08:03

Moving quietly ahead as the rest of the market flounders. Not long before the big figure is 3 imo

[hastings] 07/12/2015 16:58

May be of interest to others holding or taking a look.

[daneswooddynamo] 01/12/2015 18:56

Results tomorrow slow burner but patience should be very well rewarded imo

[r ball] 06/10/2015 20:54

Ahhh. A new home for the quintain investor?

[davidosh] 17/7/2015 15:45

Adair seems to be pledging ALL his shares now. These schemes were the ones outed at Quindell !!

[djbilywiz] 27/5/2015 10:07

Positive half yearly report.

[daneswooddynamo] 11/5/2015 08:59

couldn't agree more

[shaker44] 11/5/2015 08:28

Totally overlooked in the post election builder-euphoria. Time to tuck some more away before the results. Recent acquisition of Catesby looks good value and director Adair is pledging shares rather than selling. Employee share scheme also adding. All looks positive to me and their activities should benefit from tory govt housing proposals.