tejo
06 Jun 2018
Placing I do not like placings normally because existing small shareholders always lose out. The worst example recently being Renew Holdings. However, the discount here was very reasonable but, of course, the new shareholders will receive the dividend for the period, even though they were not there at the time which makes the placing more expensive than it seems.
Callun
08 Nov 2017
Half Year Results Look good to me, and the market has responded positively, for now:"Workspace Group boosted first-half profits after rental income jumped.Pre-tax profit of £123.7m compared to £7.1m in the previous year and also benefited from a significant uplift in property valuations.Net rental income rose 21% to £46.1m, resulting in 25% growth in adjusted trading profit after interest to £29.4m.The company declared an interim dividend of 8.84p per share, up 30%."Callun
II Editor
24 Jul 2017
NEW ARTICLE: Is BP worth a cheeky investment? "I do wish politicians would stop trying to change the rules of democracy just because they don't like the poll results. I've said this before but, again, just get on with it.The first electoral anomaly that gave birth to the vile nomenclature ..."[link]
oldjoe1
16 Dec 2016
Workspace Chart Breakout............ WKP Workspace.Had my eye on this for a while. Now looking to breakout and into what I call a gap or as near damm it. Momentum behind the SP. [link] Group share price information</b></u>Name Workspace Group Epic WKPSector Real Estate Investment Trusts ISIN GB00B67G5X01Activities Workspace Group plc is a leading provider of space to new and growing companies. It has a strong 25 year track record in providing tailored business premises to growing companies in London. It owns and manages c.100 properties in London providing 5.1 million square feet of space and is home to c. 4,000 businesses employing over 30,000 people.Latest share price (p) 734.5 Market cap (£m) 1,198.68Shares in issue (m) 163.20 P/E ratio 3.06Divs per share (p) 15.05 Dividend cover 4.00Earning per share (p) 240.30 52-week high / low (p) 989.50 / 569.00<b><u>Workspace Group broker view.</b></u>Date Broker Recommendation Price Old target price New target price Notes23 Nov 16 JP Morgan Cazenove Overweight 734.50 950.00 900.00 Reiterates
MoleMan99
09 Nov 2016
results Nice, and nearly 1% yield on the interim divi alone I think.Companies are not going to relocate their businesses to Germany and France, once their law dept explains the employment laws to them. London will be the place to be in the new upside down Brexitrump world. Friends with America, but not actually in it. Perfection.
MoleMan99
31 Oct 2016
Here They come Chinese on their way[link] property needs to get some confidence back, then WKP can get back up to the 900's.
MoleMan99
01 Sep 2016
Re: Bond proxy Some movement at last. It feels like traders have come back from holiday and are getting out of risky things like miners, and piling into property.Bond yields are going to be on the floor for a long time. 1% div suddenly looking pretty good if you are managing a pension fund, most likely in deficit.
MoleMan99
08 Aug 2016
Re: Bond proxy You are probably right on what is holding it back, but note the experts are wrong on negative effects of Brexit.Post Brexit trade is going fine in the real world. Bright young software writers are significantly cheaper than their silicon valley counterparts due to exchange rate. They can fill up wkp offices and do their stuff.There is a whole world to trade with out there[link] property will be fine. Global yield hunt is underway and wkp will get dragged up eventually I think.
Callun
04 Aug 2016
Re: Bond proxy It's not so much the BoE decision so much as the post brexit business scene that affects the outlook for WKP, IMO.There are many higher yielding stocks out there without less uncertainty about the negative effects that the brexit decision introduced. Not much point in holding for a 2. something yield if the capital value is sinking fast. Until we see the shape of the UK forming and its effects on office space demand in London there will be a question mark over WKP valuation.For much of 2015 the SP was flat following 3 years of steady growth. It was knocked back by the early 2016 market jitters, and again by the brexit result. Confidence is weak, though if you consider that normal service will be resumed then the present SP still presents a good buying opportunity, but for growth rather than yield, IMO, DYOR etc.Callun
MoleMan99
03 Aug 2016
Bond proxy Are BoE considering a further rate cut on Thursday? Surely with bonds yielding nothing it makes WKP yield look pretty good.
MoleMan99
21 Jul 2016
share transfers Seems to be alot of maneuvering behind the scenes with directors transferring shares to get the most from spouse tax relief.Next step, announce that knockout offer for £12 a share.You can tell I am bored again.
MoleMan99
14 Jul 2016
Re: What fun Trundling along nicely in the trading update.Within my own business bubble, I am sensing growing ease with the idea of being outside Europe. I imagine WKP tenants will do just fine.900p again before Christmas?
methilman
08 Jul 2016
Re: What fun Sadly I don't think we will see 500p - anything sub 550p will be good enough for me. The NAV will undoubtedly fall but not to the levels indicated by the current sp.Mm.
twotonetyrone
06 Jul 2016
Re: What fun I agree and they have more cash on balance sheet than previously having sold a number of non core assets and Blackrock JV. They were in the process of reinvesting by buying Hammersmith Embankment as confirmed by recent RNS at c.£120m....imagine this will be dropped or renegotiated. Will buy more at 500p. TTT
MoleMan99
06 Jul 2016
What fun How low can she go?If the big freeze really does come to UK, WKP clientele will probably be quite resilient. Young startup entrepreneurs suddenly find themselves massively competitive in a global market due to lowly exchange rate and need office space.Of course we will have to weather the write-downs along with all property co's, but I think WKP are in a decent financial state going into this one and we can concentrate on the trading position, rather than the property valuation.Watching those prices and waiting to dump a load more in. Be nice to see a big director buy at this level.
