Login:
Share:
Email Facebook Twitter

THG Share Chat - RSS Feed

Terrace Hill Share Chat (THG)



Share Price: 22.125Bid: 22.00Ask: 22.25Change: 0.00 (0.00%)No Movement on Terrace Hill
Spread: 0.25Spread as %: 1.14%Open: 22.125High: 22.125Low: 22.125Yesterday’s Close: 22.125


Share Discussion for Terrace Hill (THG)


Thread ViewThread View
Please Login or Register to post messages
Posts per page:


sain@vision
Posts: 1,192
Off Topic
Opinion:No Opinion
Price:25.25
Numpty
14 Oct '13
Seems to be quite frothy here.Would be very happy to see this push up closer to NAV of 31p per share which will be a very difficult barrier to cross 29p is probablyy the best we can hope for.Dont think the market will treat them the same as housebuilders.
My only concern is which other sector do they cast their eyes over apart from foodstores and student accomodation.Offices still a sector to steer clear of and industrial unless pre-let difficult apart from refurbishing existing stock.

Suspect they will be looking at portfolio break-ups
 
NumptyClub
Posts: 1,768
Off Topic
Opinion:Buy
Price:23.50
View Thread (2)
RE: Numpty
10 Oct '13
Hi, no not aware of any new news.
sain@vision
Posts: 1,192
Off Topic
Opinion:No Opinion
Price:23.38
View Thread (2)
Numpty
9 Oct '13
Seems we have this site to ourselves.Still very happy to be in here.They have a number of foodstore applications in play planning wise which is either a£1m plus profits or SFA ,They cant be half pregnant
Herne Bay and St Austell are you aware of any developments here
NumptyClub
Posts: 1,768
Off Topic
Opinion:Strong Buy
Price:23.50
Excellent
7 Oct '13
Write up in IC

Property analysts at broker Oriel Securities predict that Terrace Hill will report an end-September 2013 net asset value of 31p a share when the company releases its full-year results at the start of December. On that basis, the shares are trading on a 26 per cent discount to book value. In my view, such a discount is wholly unjustified once you consider the potential for value creation in the remaining commercial property developments.
NumptyClub
Posts: 1,768
Off Topic
Opinion:Strong Buy
Price:24.25
IC Write Up
8 Sep '13
Shares in Aim-traded property developer and investor Terrace Hill (THG: 23p) have surged this year, but it is only realistic to expect further gains. That's because, following a site sale and forward funding agreement for the company's 1,104-unit student accommodation scheme in Southampton, and the disposal of the majority of its remaining residential assets, the company's balance sheet gearing has been slashed to 30 per cent. This mitigates financial risk, which was the major reason the shares had been previously shunned by investors.

Moreover, there is scope for further debt reductions as Terrace Hill has bought out a joint venture partner to take ownership of 47 residential assets worth £5.3m, all of which will be sold off on a piecemeal basis. The focus will be on commercial property developments and food stores in particular. Prospects here look well underpinned. The company has completed two pre-sold and pre-let Sainsbury's food store developments in the north-east of England and a 41,800 sq ft Asda supermarket in Skelton. Importantly, Terrace Hill's chief executive Philip Leech points out that his company is still experiencing good demand from retailers for the right type of store in the right location. The company has close relationships with several large retailers and the pipeline of development projects is "progressing well".

This has not been completely lost on investors, since Terrace Hill's shares are up 42 per cent since I advised buying in February at 15.4p. However, trading 25 per cent below Oriel Securities' end-September 2013 net asset value estimate of 31p, the share price discount to book value is still far too wide.
sain@vision
Posts: 1,192
Off Topic
Opinion:No Opinion
Price:22.00
news shortly
10 Jul '13
New high today.This should now push on to 26/7p I am recycling profits from the 1 bagger housebuilder shares where I think a little flatlining might now settle in
NumptyClub
Posts: 1,768
Off Topic
Opinion:Strong Buy
Price:20.25
IC write up
11 Jun '13
It has been a transformational half year for Aim-listed developer, Terrace Hill (THG). The company has for some years been burdened by a highly-geared residential portfolio, the vast majority of which is now sold. It, meanwhile, completed three major supermarket projects and forward sold a student-accommodation scheme in Southampton to Legal & General.

The company's book value leapt to 28p a share as the value of these developments, previously held at cost, was finally fed through the income statement. Adjusted book value, which marks development projects to market value, rose more modestly from 28.3p to 29.2p. But neither figure reflects the improvement in the quality of the balance sheet, which now holds just £17.9m of net debt (including share of joint-venture borrowings) - down from £85.7m in September. This was mainly the result of the sale of a £68m portfolio of homes to the housing association, Places for People.

Encouragingly, these results contained none of the land value write-downs that have dogged Terrace Hill's results since 2008. "We're very comfortable with our carrying values," says chief executive Philip Leech. With these legacy issues finally resolved, the company is now free to focus on further supermarket developments - it has one scheme in the planning process and a number of others in the pipeline - as well as further opportunities in the buoyant student housing and leisure sectors.

Broker Oriel Securities expects adjusted book value of 31p at the year-end.

Terrace Hill's shares have doubled over the past six months to reflect the company's return to financial health. Yet they still trade 30 per cent below adjusted book value, which has scope to grow as the company signs up tenants for its office and leisure schemes. Buy.
NumptyClub
Posts: 1,768
Off Topic
Opinion:No Opinion
Price:21.75
Bought in
10 Jun '13
today, looks really interesting...
sain@vision
Posts: 1,192
Off Topic
Opinion:Strong Buy
Price:20.50
little belter
6 Jun '13
It will be interesting to see after yesterday.s market blip which coincided with TH,s results how far this share is going.I bought some more in yesterday
Generally speaking the market has difficulty valuing commercial property developers.If this was a housebuilder it would be a minimum of 1.25 x NAV(42p) The only major speculation is their time and a few planning fees.Their MO isn't building a blizzard of offices and hoping for the best. they have emerged form this recession well intact
Their debt reduction must ahv e given great optimism to their financial sources These large supermarket devolopmentss are all 7 figure profits Premier Inns are flavour of the month investment wise so this will be a 6%er Their directors are very able and lets hope they are significantly reawarded that they aren't encouraged to slipoff with a good deal
liamnicholas
Posts: 867
Off Topic
Opinion:No Opinion
Price:21.50
3 trades
5 Jun '13
Or just going completely under the radar?



Share Trading BrochureRequest your Free brochures on share dealing, spread betting and CFDs

Sign up for Live Prices


Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.