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by hitting a 12 month high!
Taking sometime this one has but Segro finally has got permission to re-develop the site of its former HQ http://www.property-magazine.eu/segro-receives-planning-permission-for-68-000-sq-ft-office-development-28616.html
Wow a £6,868,000 buy recorded after hours
In part perhaps but I think the market was also a little disappointed with the recent 7.5% drop in profits and Portfolio Valuation drop of 4.1%. The recent report was in general very good reading and 2013 was quite a transformational year for Segro which is continuing in 2014 by disposing of non-core assets whilst investing and developing high income property and estates such as Data Centres in which there are a few already built on Slough Trading Estate with two more currently under construction, one for the large American Outfit IO. The SP also dropped when the Ukraine crisis emerged as did the market in general. This has now recovered and to me Segro looks back on track with the bull run its been on since about Dec 2011. I have been a long term holder here and currently average at just under 2.05. IMO the SP should during the course of the next few months break the £4 barrier.
http://markets.ft.com/research/Markets/Tearsheets/Summary?s=SGRO:LSE
Would have expected sgro sp to have risen far more than it has .Maybe the mory ducross bankruptcy is holding it back somewhat as from what i can see from accounts was in the top 20 of rental payments
SEGRO JOINT VENTURE ACQUIRES EUR472m PORTFOLIO "The off-market acquisition of this significant portfolio, just four months after the creation of SELP, increases the joint venture's position in some of the best logistics markets in Europe by almost 50 per cent. The assets deliver an attractive income yield from modern, flexible buildings and strong covenants and their addition to SELP's existing assets will accelerate its investment strategy.
Massive buy at close of play, bodes well for future SP rises!
Recent broker upgrade by JP Morgan to £3.70 We should surpass that on this positive share graph.
SEGRO & Equinix sign development agreement for third data centre on Slough Trading Estate As part of these agreements, SEGRO received an up-front cash payment of £22.7 million from Equinix and has secured a longer term income stream based on annual ground rents of approximately £2.0 million, with fixed annual uplifts applied every five years. Equinix previously paid SEGRO rent of approximately £2.5 million p.a.
Broken through 3.40. Top BOD working hard to increase share price further. Large workload of new buildings planned for 2014, the majority pre-let
Midas update: Owner of the Slough Trading Estate – the home of TV series The Office – Segro specialises in developing commercial property sites for firms in fast-growth sectors such as logistics and data storage. Chief executive David Sleath joined the group in 2011 and has spent two years refocusing the business by selling non-core sites and looking for top-quality industrial assets. The disposals raised more than £500million in 2013, leaving him lots of cash to concentrate on expansion next year. Segro is well run, with an emphasis on solid dividend payments. Investors should hold in the expectation of further gains. "Last year the sp increased 30%, I can see this repeating again for 2014 and breaking through £4
I cannot see any negatives with this share .I bought in at £2.28p buying because it was trading at about 40% below its nav and have seen it rise nicely over the last year .I have also benefited from a good dividend yield. Despite the gain I would not dream of selling this because the best is yet to come imho .I am not sure exactly what the nav per share is at the moment but it did go down to about £2.98 .Subsequently the sales have been 12% or so above book value which then included neckermann which has been sold plus a decrease in vacancies.The disposals have affected the rental incomes but this should be temporary and when these rents start coming in together with the new joint ventures a dividend increase should follow. The general economy has stabilized and any slight improvement in manufacturing/logistics/data banks will lead to further development which due to the speed and less planning constrictions will spring up boosting nav .I would expect this share to trade above nav in the near future.I was a holder of this share during the rights issue and purchase of brixton I think that the benefits of buying their properties on the cheap should start to come through .I honestly think this share could rise significantly .I think there will be an interim statement in a couple of weeks and will make interesting reading I hope opinions welcomed
Of a good Rns..:)
11 October 2013 Completion of SEGRO European Logistics Partnership ('SELP') transaction Further to its announcement of 28 June 2013, SEGRO is pleased to announce the completion today of its transaction with Public Sector Pension Investment Board ('PSP Investments') to form SEGRO European Logistics Partnership ('SELP'), a EUR1 billion logistics joint venture in Continental Europe. David Sleath, Chief Executive of SEGRO, commented: "The creation of SELP is an important step for SEGRO in strengthening our position as one of the leading providers of logistics space in Continental Europe. We are excited about the prospects for the venture and the opportunity it provides to leverage and grow our platform in this attractive and growing sector. We look forward to working closely with PSP Investments to deliver our combined vision for the business." - ENDS - For further information please contact:
Think LSE have got it wrong here for today's Broker Views - Goldamn Sachs unlikely to have gone from String buy to sell within a month without any relevant RNS to prompt a change of view. Think it probably means Deutsche, who were a sell before with that target. The Broker Views on This is Money today show that as a Deutsche rating. I lean towards Goldman view myself.
Heading back to 310 level?
I think its possible somebody is about to make a bid
Press release on speculated JV announced. Not much detail but report here seems positive to me: http://www.bloomberg.com/news/2013-06-24/segro-in-talks-to-form-european-warehouse-joint-venture-with-psp.html Basically, wanting to grow warehousing to cope with internet shopping demand and JV will offer suitable funding to enable them to do this. Good buying opportunity IMO - market simply doesn't like lack of detail at present?
racing away .Looks like its heading for £3
from the ex-div (10p). Solid to 280+ IMHO. Regards
Yes, lots of broker recs circa 280 - 300. Nice and steady. Regards
Why on sell now? These go ex-divi next week
exciting is it not? Regards