Capital & Regional Share Price (CAL)

Bottom I agree with you from a location perspective. Though I cannot see this turn anytime soon.

The discount to NAV is now as wide as in the 2008 financial crisis. From what I have read they think prime and convenience shopping centres will hold up the best with a lot shrinking in size and part converting to housing. Its logical really too many shops and not enough housing.
I still think the London malls will hold there value compared to the regions due to its population density and development potential.

The worrying arithmetic

Current Gearing at 48%
Reduced Rents
Book Value minus 20%
Gearing becomes 60% with less rental income to service

Perhaps CAL should have left Luton alone.........

Meanwhile, I've missed the RNS with Directors' recent and multiple share purchases, as at this level surely it's a bargain? As a BOD member for CAL I'd be carefully counting retail high street sales, not footfall, and wondering about the likes of TOPshop, DEBs and BOOTS renegotiating rent reductions, rent holidays and impact on NAV v Debt.

Gearing edging closer to those banking covenants perhaps and is that why the CEO is not mopping up the shares?

https://twitter.com/PropertyWeek/status/1136188539916423169

It just gets worse