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http://www.investegate.co.uk/Article.aspx?id=201108230700148300M
Looks like you were right Sir
Had these babies for a few years now, been carefully watching last 6 months, up and down range 2.90 to 3.30 , decided to bail out at 3.29, may go higher was hanging in there until hitting 3.50, patience ran out, im getting older so time to get out, profit made not bad, paying for my golf trip to Spain, so thanks Segro, will think of you when i tee off. Four!!!!!!
http://www.investegate.co.uk/Article.aspx?id=201103210919482977D
SEGRO's NAV growth fails to impress Date: Thursday 24 Feb 2011 LONDON (ShareCast) - Property company SEGRO saw net asset value (NAV) per share grow 3.4% in 2010 and trimmed its vacancy rate to 12.0% at the end of the year from 13.5% at the end of 2009. NAV per share rose from 354p at the end of 2009 to 366p at the end of 2010. Adjusted NAV per share – calculated using the European Public Real Estate Association (EPRA) methodology – advanced 2.5% to 376p from 367p the year before. Net rental income climbed 4.7% to £282.1m from £269.4m, while profit before tax was £197.2m, compared to a loss of £248.1m in 2009. “The full year results from SEGRO were as expected. Good gains in occupancy have meant voids have narrowed. However the valuation performance has significantly underperformed other majors that have reported recently,” reckoned broker Peel Hunt. The departure of Ian Sutcliffe, managing director of SEGRO’s UK operations, was also unexpected, the broker added. “The departure, to some extent, means there are questions over the senior property expertise at the company. That said, David Sleath, new chief executive, we think will be calculated in a new appointment or may restructure the overall property division,” Peel Hunt speculated. The company, which has barely got over digesting its 2009 acquisition Brixton Estates, said gearing has been reduced to 80% while the loan to value ratio is now 46%. Chief executive Ian Coull, who is set to retire in April, said: “Enquiry levels remain robust and we have a very healthy pipeline of attractive pre-let projects. We remain focused on our key priorities to increase occupancy, improve the portfolio and prudently manage our financial position. Although we expect many of the challenges in 2010 to continue into 2011 we are confident that, given our high quality portfolio and strong team, SEGRO is well positioned to continue to make progress and to benefit from the emerging recovery.”
Chief Excec Ian Coul has been er retired, credited with single handedly trashing the good name of Slough Estates and through poor development planning leaving the company with its pants down in the down turn. At one point the sp was well over £8.00 and emptied all the way down to circa £2.00. Then the egotistical purchase of Brixton which increased voids further and diluted the strength of the company. Finally after most of the talent has been pushed out of the company the board had enough of his antics and served him his own ass with some haggis as a golden duck goodbye.
sp seems to have been moving in line with the ftse over last month, we need some news to move things to new trading range, though the company seem rather quiet, dont here a lot of news from them
looks like segro starting a few speculative schemes this year... positive news at last!
Buy between now and end October for less than 220p. £2 would be OK
Segro has had a bad first half of the year really, in line with the rest of the ftse in general. this board, however, has no excuses, are there any holders out there?
sorry to be of subject but any thoughts on segro been keeping a eye on this one and it owes me so would like to know your thoughts thanks.
Good on you for continuing to post on here and for keeping the faith. Not been the best of starts to the new year for Segro IMO, sp seems to have moved into a lower trading range between 330-340. I think we need some good news to move onwards and upwards again. Segro is the only non-AIM listed stock in my portfolio and I feel it is a good medium-long term investment, they had a good year last year in terms of sp, no reason why it cant continue
"Inès Reinman, Segro's head of Continental Europe has resigned from the industrial property group barely a year she was promoted to the board. "Current trading and market conditions are in line with our expectations at the time of our Interim Management Statement issued on 5 November 2009," chief executive Ian Coull added."
http://www.investegate.co.uk/Article.aspx?id=200912300700048097E
The stock seems to lumbering under a sector inertia, the result mainly of the uncertainty surrounding how the covenants and loans will be handled (rolled-over). Moreover, there is still a great deal of commercial property that is vacant, and not enough buyers will to pay what the property companies are asking. The solution would be for the banks to accept properties in lieu of cash, priced at current book values. But then the banks would be left holding a lot of property their would be forced to write down. This is a tricky one to deal with, and only time will tell, only time will heal. Good Luck to everyone, happy xmas and new yaer.
http://www.investegate.co.uk/Article.aspx?id=200912111100009767D
"Fallers include commercial property groups after a report by De Montfort University that some £30bn of commercial property debt was in default or in arrears in the first half of the year. Hammerson, Segro and Liberty are lower."
is the sale of Great Western Industrial Park at a 10% premium to its June 09 valuation and a 34% premium to iits implied valuation at the time of the Brixton takeover. Very good news imo.
"Commercial property firm Segro, the largest listed industrial landlord in Europe, revealed that new enquiries for space continued to fall in the third quarter to 30th September. In the period, disposals totalled 285 million pounds at an average initial yield of 8.4%. The company completed the integration of property firm Brixton and the UK arm is now concentrating on reducing the 23% vacancy rate of the Brixton portfolio. Segro observed that "signs of recovery have emerged ... and new and existing customers are looking more actively at space requirements". The shares fell 6.3p to 338p."
"Segro said the level of new enquiries for space has continued to trend downwards during the third quarter, though the property group added that some early signs of recovery have emerged over the last few weeks."
ive just bought another 1k in Segro @ 343.87 was thinking of waiting for 342p but got a bit nervous 340-342p seems to be where the support is for Segro, I fully expect it to bounce off this level again
but I was wondering if any of you SGRO holders have got any interest or investments in oil shares? I have been thinking of investing in a NASDAQ listed company, was curious to know if people had any opinons or experience? thanks
is my favourite share in my portfolio, I really hope to see it reach 400p by xmas and establish a new range there. This company is so huge now I can only see positives in the short-medium term
Folks are still flushing detergents down the tubes! But it is a total con! Moving over the Atlantic, as I type!! http://www.cmalert.com/headlines.php?hid=65545 Take care!
http://www.investegate.co.uk/Article.aspx?id=200910191630240374B