Wt Wner Usd Discussion Threads

[hybrasil] 11/10/2008 08:05

bear
I thought the same at £1.32.
It looks like they will have to pay a dividend. WHAT IT WILL BE IS ANYONES GUESS hit cap lock! they will probably pay something like 10p.
There will be a further Nav reduction but values are I see beginning to bottom out. So NAV will come in somewhere in the £3/4 bracket.
The real problem is ofcourse the whole ltv issue. They really got that wrong.
From a conservative company look what some stupid aggressive
decisions have done. If it survives a buy at these levels should be very good but I have not done enough homework on that point. (ie as to whether it can survive)

[hybrasil] 10/10/2008 07:08

jonwig
only just seen your post
have tried contacting the company -poor show when a shareholders phone call is not returned

[jonwig] 03/10/2008 16:30

hybrasil - I know how you must be thinking, having been in that position more than once!

Have you tried contacting the company? Sometimes it helps - telephone with an unrelated query (eg. on the fund management terms) and move on from there. Try to get a director on the line and keep polite and cool. It's worked for me a few times.

Your decision is harder because it's such a foul market: had the rest of the property sector been rising, the obvious move would be to bale out; here you don't know how much is company-specific.

I'll try to have a closer look over the weekend, because this does interest me. Will post back.

[hybrasil] 03/10/2008 15:41

I cant believe my stupidity in investing here
At this rate the dividend yield will soon be 100%

[hybrasil] 03/10/2008 07:55

And down it goes.

Why oh why did philip borrow so much money!!

[jonwig] 02/10/2008 11:52

hybrasil - can't help you there. I suspect there are worries about banking covenants. CAL had some problems there but seems to have renegotiated successfully.

[hybrasil] 02/10/2008 08:04

jonwig
But can it survive.

[jonwig] 30/9/2008 16:00

hybrasil - being a REIT, they must pay out at least 90% of profits derived from rentals. The forecast dividend for the current year is about 16p, I think.

I think there are three reasons for the current weakness - even more extreme than most in the sector;

(1) stuff at development stage, much of it retail - recession worries,

(2) clawback of management fees: cap & Reg suffered this,

(3) gearing - not a nice word in these markets (151% is a lot).

[hybrasil] 30/9/2008 15:39

i somehow doubt that we will see a 28th year of dividend increases.

I just hope they can pay something!

[hybrasil] 05/9/2008 10:54

bought a small further bit at 97.25

[hybrasil] 02/9/2008 06:43

Can you imagine how the family must feel. In 1993 the share price was £2. Now 15 years later having been higher than £8 it is now £1. Thats fine if they can continue their impressive dividend growth record. I suspect they will have to cut it substantially.
What has brought this impressive, originally conservative,property company to its knees? One word - overborrowing.
If we do not see corporate activity at this price after all its only worth 1/5th of its reported NAV then I seriously suspect trouble.I am a holder having started to buy at £1.32.

[kenny] 01/9/2008 23:08

On all public information available, they are far from bust. Problem is high gearing but the recent interim management statement seems reassuring on this e.g. some loans re-arranged and covenant LTV's increased.

NAV is way above current share price and if we get a rate cut at the end of this year they should start to emerge.

More likely a big seller who needs to be cleared out. If like me, you take the view that they will still be in business in 5 years' time, this is a buy albeit a risky buy. Short term, no sign of any good news on the horizon which surely does not help.

[hybrasil] 01/9/2008 22:38

This is now getting very scary. Are they bust ?

[bearstalker] 16/7/2008 07:29

I went away for a few days came back expecting this to be hovering at or around £1.42 ish.

Amazing price - am still very tempted to get in but then again I was £2 also. Glad I'm out at present -watching and waiting.

[zimzoot] 11/7/2008 22:43

May go as low as 1929 :)

[hybrasil] 11/7/2008 15:05

This is absolutely scary. I started to buy today at £1.35p.
Maybe I am being stupid. This is ther lowest it has been at since 1992.

[bearstalker] 02/7/2008 21:57

Yes, I was tempted to buy at 205p but am glad I didn't!

i think this is oversold and represents good value - but if I can get themcheaper still so much the better - no advice intended. by the way I'm not shorting.

[hybrasil] 02/7/2008 17:52

And it gets worse

[hybrasil] 01/7/2008 14:46

The really surprising thing is the lack of family buying at these what i would have thought are ridiculously low levels.

[hybrasil] 01/7/2008 10:36

Yes I would say all the family are getting a little restless. . I can only chart back to 1993 and this share is now at a 15 year low.I suspect they merely borrowed too much.

[hybrasil] 24/6/2008 22:05

This is beginning to look a little cheap. I imagine there is a little unrest in the family as to the needless risks that have been taken on by this erstwhile blue chip. It could have quite a bit further to fall.

[hybrasil] 24/6/2008 12:04

yes kenny. As far as I know he still does.
He has been strangely quiet in all the company he is involved with save I think Rugby. This is where he made gazillions about 7 years ago. I.E. when prices were at these levels.

[kenny] 20/6/2008 14:04

Am I correct in believing that Trefick still holds a large chunk of Warner?

[zimzoot] 20/6/2008 13:53

Workspace group WKP another one to tank...heavy selling