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Nav of over £160 a share, still cheap and I am still buying . With Djan and SHB I have had a good week. Shame Tesco always spoils it!
Yes the asset value is now way over £100 a share as I suspected and despite the high nominal value of the stock it is still a terrific bargain on an asset value basis. The book value is retained in the accounts as the lower of cost and net realisable value for tax purposes but for the first time we know this is a massive understatement of the actual asset value.
trading stock value double the amount in annual report ?
Thanks for the info. too rich for me. Good luck to all who got in 6 years ago. BOL
After a quiet period following div. payment,buyers are returning. Sellers will be few in run up to statement on 27th when. after many years of wondering, those of us long in this stock finally get to know the extent of the assets we are sitting on as the revaluation of trading properties is announced,together with likely stellar interim figures. Anybody selling would have to be desperate for cash whilst opportunistic bargain hunters may stand to make a packet.
Grainger reporting final results on 20th Nov with MTVW and SHB on the 27th November. Hoping Grainger will give a indication of London market feeling and tempt me into a MTVW top up pre results. MTVW was tipped on Motley Fool on 15 October with a very positive write up.
Yes recent drop from £88 suggests still room to top up further at current levels. Djan starting to steadily move in right direction also.
Today's interim statement confirms our best expectations of a stunning half year in prospect. When update of asset value is revealed in November with half year figures,£100 a share may well look cheap!
Well done-Daejan won't disappoint either-I'm looking forward to AGM there to catch up on progress. These two form around 30% of my portfolio and have done for over 20 years. They are both very well run with low borrowings and massive Board holdings - hence incentive. Despite rise both are reasonably priced on fabulous property assets largely in southeast well below capitalised value. Enjoy the sun and keep the faith!
Yes it is looking good especially from the sun in Cyprus. Hopefully DJAN to follow. Many thanks. I pulled a sizeable chunk of GRI about a month ago and divided it between these two and Shaftsbury, so been a fairly good move so far.
Those that followed my previous comments must be well pleased-can't wait for forthcoming results!
You convinced me. I'm now back in at 7400p.
Following a quiet period this share price is powering up ahead of forthcoming results which could well be stellar. This is a classic case of carefully fledged chickens coming home to roost. I reckon asset value is probably well over £100 a share and decent dividend well covered and borrowings carefully controlled. Not a lot more you could ask for!
Gri and Mtvw both releasing statement that are very positive about their markets. Grainger up 5% today, this hasn't moved. I have topped up as the "but " in Mountviews statement seems almost a certainty based on Graingers interpretation of the market.
Mountview have some higher value properties but are mainly interested in the lower end tenanted stuff . They simply wait for the properties to be vacated and sell them , They are not competing for properties that would interest the foreigners with their wads. This market should benefit greatly however from the 'help to buy ' schemes and the portfolio s virtually all in the south-east.
Easier to buy than property in London and I believe more effective. What do we think about interim's? GRI, MTVW and DJAN all positive. Any further buys are either here or DJAN with GRI still a hold until after results. Recently topped up DJAN as seems to be trailing MTVW in realising it's value at present. I think Bev 88 is right and this will simply follow London prices upwards for an unknown period. 7000 today where next? Do Mountview have the ability to beat the wads of foreign cash to future opportunities or can they afford to sit on their hands for a while having done the hard work when prices were better value?
There is no logical reason why this share should deviate from it's upward trajectory.The high of over £73 in 2007 has still to be breached and since that time the company has grown and it's prospects greatly improved with an asset base of residential property largely in the London area worth way above the shareprice. This share has until now been largely below the radar of fundholders who have gone for the bigger players such as Grainger with their massive gearing and foreign exposure. Mountview is a classic example of canny,conservative management who know their market and their quietly effective accumulation of sought after assets is beginning to pay off in spades.
Will this share ever stop climbing?
I take on board your point but , like £20 notes c.f. £5 notes-you have fewer of them but they are still worth 4 times the value-but a share split may ultimately happen . Meanwhile the share strength is making my case for me. These and Daejan make a nice pension fund without the hassle of managing the property yourself- I have held and added to both for over 30 years and never felt the need or inclination to sell, especially with the massive asset backing and ever increasing dividend stream.
Maybe you are right. I must admit every time I can afford another 50 of these it is not quite the same as owning 1000s of something else. However, I am sticking with you on this as GRI and MTVW have both done well for me. See a report in Times and a few others suggesting US property starting to fly. I know one of your favourites DJAN have an asset base there so looking to top that up next or find a US/ Mexican property fund. I am beginning to think 200p might be time to call it a day on major GRI exposure.
The Annual Report on close examination reveals that the trading properties are carried at the lower of cost and net realisable value. Last year properties valued at £16.15 million realised £40 million. If one applies this ratio to the rest of the trading properties a figure of around £180 per share asset value is attained. The potential implied discount of share price to asset value is staggering-and mostly in rapidly appreciating residential property in the South East. I am left to assume that the high nominal share price is frightening people.
Stellar profits, up 25% with an increase of 10p to 175p to the annual dividend (covered over 3 times) confirm the continued excellence of this management. They are a solid asset backed play on London residential property with the x factor.
This treasure chest of undervalued London residential property is being gradually opened but the price is still nowhere near reflecting the true asset value. Meanwhile those of us heavily in are being compensated by a good dividend massively covered by earnings while we enjoy the upward journey.
Mountview Estates on Monday said earnings were up 25 per cent during the third quarter on the back of strong property trading activity. The real estate group said it was well placed to take advantage of purchasing opportunities as it also reduced debt during the period. "The third quarter of our financial year has shown the same solid progress as the first six months," the company said. Mountview began the trading update by addressing the death of Director Keith Langrish-Smith. He worked for the company for 38 years and was a director since 1982. A full tribute will appear in the Chairman's statement accompanying the annual report and accounts when posted in July. Shares rose 2.14% to 4,774.00p at 14:00 Monday. Mountview owns and acquires tenanted residential property in the UK and sells property when it becomes vacant.
Recent piece in Motley View points to Mountview's 22% discount of London residential property and the fact that this doesn't account for many properties booked at cost price. This stock is a still largely undiscovered jewel.