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But although Land Securities has £1.6 billion of cash, its lending arrangements mean that this is more likely to be used to stay within its 80 per cent loan-to-value limit, rather than to pick up properties at bargain prices. At 468p, down 71p, or a 6 per cent discount to Cazenove’s estimate of next year’s net asset value, the shares are up with events. Avoid, says the Times.
I think there will be lots of good opportunities to short, fairly soon. There is still masses of bad news coming out daily, but the market is rising – and with it lots of “dogs.” Classic “bull-trap” bounce. It has got to turn down before long, and LAND fits the bill. ATB
Kazakhmys or eurasian nat resources either, and i was determined to buy this week. I was away 2 days. When i returned, they had rocketed over a quid each. Only hold Aviva at mo after a big sell of in the last rally, and feel a bit like i'm missing out today, even though my aviva are up 40p on purchase price. Hope we have another few falls soon, cos i do believe the bottom has been just about reached, and we may not get many more chances to buy at these lows.
Hi, I am not actually in LAND right now. I have been in the past, and made a bit. Basically I run 9 watch-lists. So with LAND rising, I will again be checking more carefully, as this one will drop back. So hopefully, I will get back in near to its peak. ATB
Who ya talking to? Looks like Morgan Stanley wern't having a laugh with their forcast. Wish i had spotted this share when it hit its lows on 12th March.
..again, very soon. Been in/out of this loser, many times for good profit!
Yet another property outfit, looking for a prop-up to continue ! PS Here a hint “real estate” is NOT real. It is either, “sand-castles on the beach,” or “castles in the sky, waiting for the continued bubble- prick”! PS Get out before “Cardboard city” folds in the rain, or “meets it’s MATCH”
Land Securities, the UK's largest Real Estate Investment Trust (Reits), will follow rivals Hammerson and British Land in launching a deeply-discounted rights issue aimed at bolstering the company's balance sheet, says the Telegraph.
http://thescotsman.scotsman.com/business/Land-Securities-confirms-it-is.4985866.jp
Land Securities is working on plans for a discounted rights issue later this week in the latest demand for emergency funds from investors in the beleaguered property sector. The issue is forecast to target as much as £750m ($1bn) and to be fully underwritten, although the details of the equity raising are still being worked on and the company has not given the issue the final green light, reports the FT.
..having a laugh "Morgan Stanley has also lifted its rating on British Land to “equal weight” from “underweight” and set a price target of 340p." Time to in soon methinks
Absoulutely. That is why I'm taking a "non-long" position.
This got upgared by a broker today to "Buy" - WHat are people's views on this stock for medium term? LONDON (ShareCast) - Land Securities is oversold, according to broker KBC Peel Hunt, which now believes the stock is worth buying. Although Tuesday morning’s trading update from the property giant contained “no new surprises”, the broker has upgraded the stock from “hold” to “buy”. “If Land Securities lost 20% of its rent roll – extremely unlikely – it would still be paying we think a 4-5% yield,” the broker said. KBC has reduced its March 2009 net asset value (NAV) forecast to 1276p per share. It expects the low point of the NAV to be hit in the following fiscal year, when it projects it will fall as low at 1025p – 75p lower than its previous prediction.
expecting 5 percent today
Ouch! That spike closed me out this morning, should have taken profits yesterday! Harrumph!
glad to help mate no offence taken i understnd ,when red turns to blue its great aint it
Sorry if I gave the wrong impression.... but I am shorting this at £5 per point, big smiles from here!
yep she does hope u got out mate did try to hint to the fact
Down it goes!
This does look like a good shorting opportunity, do the very large sells on Friday only affect the SP for Monday, as they were placed after 4:30?
Besides, it's a bit tricky to short a stock on a Sunday.... am I missing something?
Why the 13th?
when i sold out last week it did glad its going up for u made my do! looking to short this on the 13th1
Is it really going down? Looks like a recovery at the moment!