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Craig; maybe it's the realisation that there would need to be a firesale of all properties at greater than 30% discount to book price before this wouldn't repay current debt/mkt cap?
Maybe it's the realisation, that even if their rent roll remained static over 10 years it would pay off the debt, with cash to spare, and deliver a free property portfolio to boot that would need to crash 70% not to equal mkt cap.
Maybe people are waking up to the long term value/income embedded here.
What’s happening here then? Nice move north today.
A lot of these REITs are heavily discounted it’s just choosing the rights ones.
I’m Showing a discount of 60% to Nav?
Nearly a 11% dividend at todays price.
Bargain to me.
Rylidan; excellent post - albeit that I see some of those weaknesses you suggest as actually being strengths. I think our difference only lies in timelines. Where you think govt constraints is a concern, I think therin the oppurtunity.
Jpp
I hope you bought at 47.28p
Todays high 53.48p
That should be 2.20 shares to £ pound
That 12.20p in pound profit n 6p a year divi
Good trading jpp
Rylidan, it's got nothing to do with shorters, it's the general sentiment towards the company. It operates in a real estate market where the demand for its properties is highly constrained and concentrated to care providers, which has a negative impact on the company in terms of the balance of power. If a care provider can't pay its rent, it's not a simple matter of evicting them and re-letting a property in the open market to normalise the income. Instead, as can be seen, when a care provider fails to pay rent SOHO has little option but to tolerate it and suffer the negative impact on income.
Furthermore, this real estate sector is not subject to open market pricing for rent; it is controlled indirectly by the government, and so it is significantly exposed to central government budget and regulatory risk. This is not so favourable in the current climate, where government and local authorities are seeking to control costs and mitigate inflation.
My opinion is that as a longer term investment this is a buy at current levels, but let's get real and understand the risks the market is currently pricing in.
Can't believe we are falling again in low volume. Expected some sort of decent recovery. Guess it's the shorters at it again taking us slowly down.
Thanks for clarifying damo lad...
Falconer-flyer;
I wasn't referencing you, just referencing how un glamorous I find both extremes generally.
Specifically to you, I do note your encouragement to jpp that all is not lost, I'm merely trying to reinforce that.
Everyone has their own way of operating, but agree whole heartedly that research is the answer. And if you didn't do that at the first point, of investment, it is even more imperative that you do when sitting on a loss - was your original belief valid, is it valid today? And an acceptance that within a wider portfolio, some will lose, albeit insignificant within the wider context of your winners. We can only speculate jpp didn't, but as you say, we are here, Jpp et al, with regard to this particular stock to highlight that all is not lost.
Personally, when sitting on a chunky loss, I pretend I've never invested. Look at it as a new investment, and ask myself, would I invest; if not I sell, if not I hold tight, however long.
Good luck to you too Falconer, albeit patience is all that is required here.
Damo,
I assume after perusing your post your 1st sentence make lucid reference towards me yeah.
I'm very astute in trading investing, taking prolific interest in my positions, me making comments obout my profits is not bragging, merely giving jpp a assurance he can return to profit.
Believe I have had big losses but I plan a path to get it back.
I lost £157,000,on one trade. Remedied it buying into a high risk bond fund with 15% per Yr, monthly income divi reinvested, 3yrs 9 mth l was level with the loss,
With respect to jpp, I sell a position at 8/10% loss but follow my investments with daily research.
My view is we will see 87p NAV, so jpp position is not lost.
Good day damo
Painful for me because I've got no spare cash right now otherwise I'd be buying as many as I could. I'll buy at anything under 60p.
jpp; just as i'm no *** of 5 bagger braggers, it irks me to see 'investors' struggling with a loss. i'm just the kind of guy that wants everyone to be enriched.
and whilst i feel your frustration, i do think it's emotional rather than rational. i'm not dismissing the losses inherent in your purchase around 90/95p, but frankly you paint it blacker than it is.
on the face of it you have taken a c. 50% loss in the last 3 years, which anyone, i, would consider a disaster, but that isn't the whole story..in that, in that time you have accrued 21p in dividends so actually your break even is an sp of 74p.
if you believe that the nav, (which is pretty much based on the property values) is truish, that's in excess of your break even. even if you don't believe it is, the rental income of those (overvalued?) properties, will yield a dividend over 3 years that gets you to break even.
the lack of housing, the premium and protected secured rents of vulnerable customer provision, the lack of direct govt provision will ensure those rents and those dividends, unaffected by house prices/nav of the properties.
frankly,.if i had made a disastrous investment, that got me my money back in 6 years, i'd be bloody delighted, and your doom is unwarranted.
patience, not petulance, is all that is required here.
Chugging along nicely today, here's hoping for more🎈
All them big buys again under valued sp, today again, my nxt divi should be in £7300,after that it will drop 2024,but don't forget it's at only contingency plan, it's not 100%, RNS yet via results will confirm this, so imv nothings been confirmed, yet these big buyers low 47s might have been given more knowledge at fund manager, recently BofA bought JPMs 2.3mn shares, sure there not phased by soho.
Jpp
Did you take advantage of the 47s, I did a savvy trade, not from my LT Holdings here. Sold for a nice profit, well I will not benifit, just paid for my daughter and 2 girlie mates 10 days skiing in Italy.
Without feeling Co kky you got to be innit to win it.
Avu is my best day trading usa share, daily swings from - 15% to +15% daily. Buy in sell out fast. Trading 212 are good for free trades.
Apart from FX which I buy USA dollar at 0.81usd,have a look not advice I'm not fca licensed, nudge in friendly direction
Nice to see some movement north
You may get your exit soon JP. Looks like an attempted breakout.
that's what i thought when i bought at 90p in 2020 and topped up at 95 two years ago. oh, did i feel savvy then, buying under the nav a safe company. yet here i am now, with half my money gone. see you in a year, when it'll be worth a crown and dividends won't have made a dent in the colossal loss. i've become numb and don't even care to sell at these insulting prices. my father in law was taking the **** last week-end, bastard doubled his money playing ugly names like nvidia. i wanted to shove his head in the bbq.
Hi,
Yes MySpace issue built into the current price but would be good to see it finally put to bed, be nice to see another buyback in the near term.
Hi @CraigB
They might need to use some of the £7 million to sort out the MySpace issue.
If that gets sorted in H2 then every chance of another £5 million share buyback as the board is keen to reduce the gap between the share price and the NAV.
GLA
If the divi goes down to 4.7p that is still 10% at current levels. That is enough.
Cheap price for new investors in comparison.
The contingency 20% cut still gives a good yield and already priced in.
Despite the "cheap" price, if the divi gets cut this will slump. Madness really. I'll continue to hold for now as lost a fair bit. Should come good in a year or two IMO
I’ve added a few under 48p, held some cash back to get up to my target holding of it drops.
Looks cheap, wonder what the plan is for the £7 million.
Prime for a takeover.
Decent yield in the meantime.
Quite a rollercoaster this stock, I came from CSH as I'm sure many did. Came close to 65 in Aug, now dropped so much. Never understood really why CSH struggled so much and now think the same here