Member Info for Nick1234

This was briefly flagged as an issue by Proactive Investor yesterday:

"In fact a glitch in the system meant many announcements from the regulatory news service of the London Stock Exchange Group PLC (LSE:LSEG) were delayed, hence the confusion."

Agreed. A company that makes £1billion profit a year has to be worth more than £5.5billion.

The HL website says the same. An 11% increase in the divi in the current circumstances is very good.

Pleased to see the update, even if it didn't say much. It's put my mind at rest.

Wish I'd topped up at 205p on Friday now but can't win em all.

Ridiculous that this is now below the NAV, especially given the positive trading update. Not to mention the sites under development which will add to the NAV shortly.

Looks like it is following Segro down:

"At the other end of the large-caps, Segro was the worst performer, down 7.4%. Kepler Cheuvreux downgraded the warehouse property investor to 'hold' from 'reduce'."

I was wondering the same. Segro is down over 6% too but again, no news.

An RNS has been released today which includes an updated NAV.

V. Good trading update in my view.

Good couple of days, that's for sure. Barclays sound bullish... potential 50% upside from here...

"Reckitt Benckiser moved to the top of the risers after a bullish update from Barclays.

Over the counter sales this quarter should be strong it said, driven by a strong flu season and easy comparison to a year ago.

Nielsen market data suggests high double-digit, or even triple-digit, growth in cold and flu treatment Mucinex.

Added to consumers switching away from rival Abbott, this could potentially add 4% to group organic sales and 6% to EPS this year.

Nielsen data suggests strong growth for the quarter, but this may include an element of retailer destocking and consumer pantry-loading.

Reckitt’s product mix and operational gearing meanwhile should also help offset headwinds from rising oil prices, even with low visibility.

The share price target is 9,100p against 6,032p, up 3.4% today."

It's important for all property owning shares, especially REITs. A lot of share trading websites will include the NAV in a chart alongside other financial information so you can see if the share price is trading at a discount or a premium to the NAV. See Tritax Big Box (BBOX) or Ediston Property Investment (EPIC) as examples.

As SGRO is trading at a premium to the NAV, you could argue it is overvalued, however investors obviously think there will be an upgrade to the NAV when it is next reviewed and we know SGRO are developing a number of properties to increase its portfolio which will be completed in the near future. The shortage of these large warehouses / big boxes in strategically important locations near motorways and large populations that are favoured by the likes of Amazon, THG, ASOS, Aldi etc mean they are definitely going up in value.

The NAV is a much better/useful valuation tool for this share. Using the 31/12/21 NAV (£11.37 per share), the share price is currently at a 17.5% premium to the NAV.

Next area of concern: Aviation Hull.

https://www.telegraph.co.uk/business/2022/03/05/airlines-dogfight-pull-jets-war-zone/

https://www.beazley.com/london_market/marine/aviation/airlines.html

I think an RNS is required to clarify BEZ's exposures.

Rising grain, rising, oil, rising gas, rising metal. Rising inflation is the big worry here and the impact it will have people's disposable income and their ability to afford a short break at a Premier Inn.

Also worth noting BEZ has a Political Risks book which could potentially end up paying claims out.

As one of the biggest cyber insurers in the world, BEZ definitely has an exposure to Russian hacks and cyber attacks. If the war on the ground doesn't go their way, or they get driven out of Ukraine or they become a pariah state (as they effectively now are), the Russians could change tack and launch coordinated cyber attacks against the Western World leading to BEZ having to pay out claims.

I dont believe BEZ has much exposure to property or reinsurance claims in Russia/Ukraine. War is usually excluded from commercial insurance anyway.

This is now touching the low point in March 2020 at the height of the pandemic. Surely a bit of a rebound from here?

The exposure to Germany is very small. How many hotels have they actually got over there? 50?

Completely agree, this fall is well over done and £27 represents a great entry point.

Good timing there!

Completely agree with your comments. The results are fantastic but Russia and Ukraine are both highlighted as being high growth areas (approx 20% ). These sales will surely evaporate if sanctions are imposed.

Well today's RNS makes good reading. £900m profit is not to be sniffed at.

Tempted to top up (average down) but will wait and see what the next few weeks brings.