Member Info for JGFFourie

In accordance with long established convention, as a result of the truly excellent results, the share price was “marked down” by thoughtful market makers to enable those in the know to be able to top up at bargain prices. Hopefully, we all took advantage of this kind offer - buying at 792p, before the price was finally set at its correct level of about 805p

In my view, the price will level out at about 331p, the price reached on 9th April 1925. We are, essentially, in the same position. A Government which has lost control of the economy and is openly floundering.

Based on the net asset value per share of £8.88, the net profit of 34.5p does represent a return on capital of only 3.9%. However, based on the current share price of £6.62, the return is a rather more healthy 5.21%. The dividend return is not quite so high as this, because the company is cautious and retains part of the annual profit to invest for future growth. The main attraction of SEGRO, of course, is that many of its properties are situated outside the UK and so protected against a fall in the value of sterling.

By long established convention, the excellent Results published this morning caused the share price to be “marked down” from 412p yesterday afternoon to 390p. I assume that the market makers “mark down” the share price to permit those who wish to invest to do so on favourable terms.

The share price is currently, as the experts say “subdued ahead of the publication of the Annual Results”.

By long established convention, whenever good news is published about a company, it is the custom for its share price to be marked down heavily. So, this morning, for example, a price of 673p represented a good buying opportunity.

24th April.

Currently 224p. Will the price now go up, or down? Yes.

When the Directors announced their intention to buy up shares in the Company, they were, of course, contemplating doing so at about 290p per share. They were not anticipating being able to do so at 238p per share. That is a price which is less than two-thirds of the value of the underlying assets of the Company. All thanks to President Trump!

While President Trump’s tariffs have produced a mini boom in British REIT share prices, this should be treated with caution. Hammerson is heavily invested in the EU, where 20% tariffs have been announced. While the 10% tariffs for the UK seem modest, they will still represent a drag on retail, especially discretionary retail spending. This mini boom might not last.

Yesterday, the Directors were able to buy up shares at 249.5p. However, the days of these very low prices may now be over. The price did drop as low as 243p, at the lowest, however, is now on its way back up again, being 252p today. I think that the days of bargains are now, possibly, finally over.

Share were available to the Directors on Friday at an average price of as low as 247. It is unlikely that prices can be held down at that sort of level for long, however, the Directors are taking full advantage of the bargains currently on offer.

President Trump (the “shorter’s friend”) has caused international share markets to crash, with the fortunate unplanned effect of making shares available to the Directors of Hammerson at knock down prices.

With the fall in the value of Sterling against the Euro, the value, in Sterling, of the company’s Irish and Continental properties has risen dramatically. However, since the market makers have decided to keep the shares “marked down” on account of uncertainty in international markets, particularly the USA, there are now excellent buying opportunities - but only for so long as the price can be held down against market forces.

On Friday, the company was able to buy shares at an average price of only £2.57. While the prices of shares in most REITs have now risen, the market is keeping the price of Hammerson low, to facilitate further purchases at very favourable prices.

How do you make money in a falling market? Follow the lead of the expert traders. Sell on Monday this week at 270p and buy back again this morning at 254p. A return of 5% on your investment in only one week can’t be bad!

Ideal market conditions for a company wishing to buy up its own shares at a massive discount to the real value of the company’s underlying assets.

Excellent results today. Only a very slight fall in the NAV and the rent has not fallen by as much as might have been expected after the sale of income producing assets. The market makers have kindly marked the price down to 270p for those with an eye for a bargain - which, I expect, will include the Directors in their share buy back exercise. Should you wait for the price to fall a bit further? Unfortunately, no one rings a bell to indicate when the market has reached bottom, or top.

Excellent news as far as the share buy back program is concerned. Every fall in the share price results in the company being able, in essence, to buy prime commercial property at only a fraction of its real worth.

It is hard to believe that, just before the crash in 2008, the share price was as high as £14.50. However, at £3.50, the return is now well in excess of 6%, so even though interest rates are unlikely to fall, they are also unlikely to rise to anywhere near 6%. What is surprising is that those who are concerned about inflation eroding the value of their savings are now investing in Bitcoin, an asset which has no real existence at all and which returns no income, rather than in bricks and mortar returning a very healthy annual income.