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Just shows how very wrong I can be. 13 months later, SHB will disappear next week at £4,20, down 50% in a year.
Capco's results say it's been Shaftesbury's portfolio that's still falling in value. I knew I wasn't qualified to be a commercial property surveyor back in 1970. Sorry.
rel to say LAND imv
hold 4k
merger in trouble
but close to trend reversal (sector and stock)??
4 different director buys today.
I know it was a terrible day on the markets today but surely the market feels that Shaftesbury shareholders got a bad deal here or are better off on their own. An 8pc fall in the shares and yet the management clearly believe they have done a good deal. Maybe the combined group becomes a more attractive takeover target in years to come.
Today's update tells me that now is the time to park some spare cash, from a well-diversified portfolio, into Shaftesbury. It's festering at six quid, when it traded at ten at the end of 2019. We would seem to be slowly coming out of Covid. The tenants are, a tad slowly, back to paying their rent - 90% now collected for the Q/E 31/12 and 80% already banked for Q/E 31/3. Not perfect but greatly improved on 2020.
Yes, retail has taken a real kicking for all the well-known reasons, mostly the internet. But SHB has always been highly specialist; you can't go out for dinner in the West End online. If a few girlfriends want a fun day out browsing Carnaby Street, thats a very personal experience. So my view is that SHB will prosper, again provided Covid can be controlled.
In which case an SP return to £10+ within five years, as the discount disappears, seems a very reasonable risk worth taking. The daily gains won't be exciting, but an assured 50%+ gain within that timeframe, is well worth having, imo. We shall see what happens.
should the current valuation puts the company at 780ish ?
should the current valuation puts the company at 780ish ?
Increased valuation
The indicative external valuation of the wholly-owned portfolio at 30 September 2021 is £3.0 billion, an increase of £165 million in the six month period since 31 March 2021.
Strong results and looks like a longer term return of profit
This share still has a long way to go. When people are “released” and cannot go abroad, London and Shaftesbury will see an explosion in the number of visitors. The shops and restaurants in the Shaftesbury estate will soon be back to 2019 levels and I expect the share price to do the same
Bid 583/Offer 544??
Indeed some big buys right at the end today...
Pretty sure this is a massive takeover target. Capital and counties want this company.
It was tipped by a pundit in one of the Sunday papers in their 2021 predictions.
By end of 2021, I can see the share price being around £7:50 as London retail will be booming after covid
Some more buys ,also watching syme 10, million share buy there this morning ,shb looking stronge ,more of a move up will not surprise .
Ticking up more .
I haven't received the new shares yet, so we are in the same position.
Yes...Does anyone know when they will be added to our holding?
I'm not sure how the excess entitlement applications will be scaled back
I really really want this share. But based on the environment we are in I want it for 400p or less. I need Santa to grant my xmas wish
Well, taking up the "rights" at, roughly 1 new for 8 existing, priced at just £4, is a bargain, imo, even if we have been 10% diluted. I crunched the numbers a few weeks ago and came up with a worst case NAV of £4 a share. Now it's going to be £4 NAV, plus £1 of cash.
Shaftesbury is very professionally run and that shows in the RNS announcing the raise. It will take a few years to get back to ten quid, but assuming that a Covid vaccine is coming within six months and will then take a good 18 months to distribute to a majority of the population, the summer of 2022 is looking a reasonable prospect for a return to a more normal retailing market. Fingers crossed.
N/m
Afternoon, I skimmed through the RNS from this morning and thought that CV19 is coming home to roost in Soho - it was somewhat inevitable there would be a negative impact on SHB. However, London will always be London - if some folks leave the next lot move in to make their way in life, and Soho will always be "the party place".
Always nice to read we have a pot of funds to invest as other sellers become distressed..... I also noted a switch to monthly rent payments in advance. Will be more palatable to the tenants of the future rather than quarterly.
Gambling shares - one of my long term holdings from the turn of the century was GVC about two names changes ago - the dividend used to be a date where you knew you could sell, and buy the underlying holding back at half the price within a week. I chucked in a lump of endowment mortgage compensation into it and sat back and relaxed. It used to be consistently my biggest or second top holding until my first and very possibly last gold investment became a darling of AIM. It remains in the top 3 and becomes a possible candidate for any future investments now we appear to have given up trying to go below a fiver.