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STP Stenprop MCap £360m. Yld 5.5%
Asset disposal yesterday: The disposal is in line with Stenprop's strategy to become a 100% UK MLI business via the sale of all non-MLI properties in its portfolio and the reinvestment of the proceeds into UK MLI properties.
We have had Ashteen , then Hansteen , what will the next teen be ?
Find out in the next 12 -18 months I think .
Sellers are getting above the bid price for HSTN which should mean the market thinks a higher offer or anotehr bidder may come in. Let us hope so!
Sods law , I sold the last 750k today so not totally hissed off.
Good luck guys , Wait for downturn, then watch were the boys go next.
Best to wait and see.
In the meanwhile what other REITs / prop cos are most undervalued?
CLI STP SHED WHR ?
Appleby must be feeling a bit crabby. Your shares went to a good home.-------> Me.
Interestingly it has gone above the offer. Company in play?
offer
I am selling my remaining uk property assets and property shares and turning to cash as I think we are near the top of the cycle, several indicators flashing for me.
This is not a reflection on Hansteen as it is by far the best company in the multi let industrial sector .
However I remember how cheap empty sheds went in the last 2 recession periods and want to be ready when the receivers call.
Good luck guys
Outlook seems good for quality office property, regional, industrial, distribution etc. Anything but high street retail.
And REITs dont suffer liquidity problems when investors want out like OEICs or unit trusts as I still call them.
You may be correct but the M&G portfolio is mainly retail parks but 4sure will spook the markets big time. This outfit are in the super retail end of the market, Amazon etc, so they may avoid the sell off. Holding fire on any investment till the dust settles and other retail oreintated funds get 'dumped' from Monday onwards with all the negative weekend press.
Final decided to bail on this , M@G property fund stopping investors withdrawing funds was the sell signal I was waiting for . Good luck
See this going to 110 in pretty short order. If they reworked the debt on to cheaper loans, free cash flow goes up, if I can see it, any one can. Dyor
Gla
Yes and no holding RNS yes to suggest who it is. I agree that this is in demand though and looks very good value at these levels. Will be helping myself to some more in anticipation of further gains in the future.
Some lumpy buys been going through in last few days. Some one is keen on this.
HSTN certainly has a bit of momentum and of course is operating in a good niche. If we could get a hike in the FY divi in March's results to 6.5p or 6.8p then the yield would even now be decent. I am hoping HSTN has some way to run yet though.
Industrial investment market seems to be pretty bouyant especially for Hansteen type stock. Many investment sales going to best bids and achieving over asking The dynamic duo usual MO
is a complete exit but it is difficult to see that they will achieve a significant premium to current NAV for quantum
They have to leave a little fat on the bone
GLA Jumped ship a little too soon !
Nav is not strictly correct, if rents are rising , so is the nav . Also every asset sale is always above book value , again indicating that nav is higher than stated.
GLA.
Appleby I agree it is undervalued after the update. The rent rises are strong even against good comparatives last year and they do manage to get premiums over book value for sales. 120p might be a stretch as it closes in on NAV but it is in a bit of sweet spot now. The underlying direction of the SP is most definitely up. I only bought in two months ago but my timing has been good so far. Was the bid for this at a premium? 140p would be nice for me especially if I pick up a few divis before a bid.
STP obscure , what ?
See this getting to 120p on recent news , market is buzzing for smaller sheds . Take out will be north of 140p , any one else agree / disagree.
Good luck all
A lot of REITs appear attractive at the mo excluding high st retail. Good dividends and track record e.g. Sgro.
I recently bought into the more obscure STP but main holdings are HSTN WHR CLI
Seems enough in today's update to suggest HSTN is worth a buy up to 105p. Managing to increase rents going forward while getting uplifting portfolio sales is pretty compelling. Could we see a bid emerge?
The mini sell-off didn't last long and HSTN is gaining a little bit of traction. I expect a test of 100p shortly but whether it can sustain above that level will be interesting to watch. I do think there is inherent value at around 100p.
Falling
Yes getting closeto NAV where values are likley to be heading south
As much as I respect Hansteen taken the opportunity to bail for that reason alone . No doubt will be heading back in again at some stage unless of course the dynamic duo have found an exit. GLA
It has been fairly strong from 93.5p recently with good momentum. As the gap to NAV narrows the brakes will come on but am wondering whether investors will cash out at 100p?
which is a good sign. Looks undervalued to me but probably not worth over NAV. Decent share to hold in my view and the recent lease renewals at more favourable rates should cement in some profits..