We use cookies to improve site performance and enhance your user experience. If you'd like to disable cookies on this device, please see our cookie management page.
If you close this message or continue to use this site, you consent to our use of cookies on this devise in accordance with our cookie policy, unless you disable them.

Close

registration required

or
for more website access

This content can only be viewed by subscribers and registered users of Investors Chronicle.

Subscribe or register free today

Buy the break-out

Imagine being able to buy shares in a property company sitting on a prime investment portfolio worth £1.27bn, mainly located in London and New York, for a fraction of the underlying value of those assets. And don’t for one minute think this company has financial problems to justify why its shares are trading on a deep 38 per cent discount to book value. It clearly doesn’t as net borrowings of only £176m secured against these properties at the end of September represent a miniscule 20 per cent of shareholders funds.

registration required

visible-status-Subscription-Only story-url-buy the break-out_ic_simon thompson_13.02.13.xml

By Simon Thompson,
14 February 2013

Print this article
Comments

Simon Thompson

Simon has managed the IC's company coverage for a decade. He's also the creator of the market-beating Bargain Portfolio, an influential stock-picker and the author of Trading Secrets: 20 hard and fast rules to beat the market.

IC columnists

Simon Thompson

Simon Thompson

Winning stock and trading ideas from the creator of the Bargain Portfolio

The Trader

The Trader

Technical analysis and market calls from our in-house charting expert

Mr Bearbull

Mr Bearbull

Sound advice on running portfolios from an experienced commentator

Smart Money

Smart Money

Practical advice to help you plan your future

Chris Dillow

Chris Dillow

Incisive economic commentary plus thoughts on investor behaviour

Property Matters

Property Matters

Comment on the ups and downs of property investments, with a particular focus on the perennially popular world of buy to let

The Editor

The Editor

Commentary on markets, world affairs and everything to do with investing

Chronic Investor Blog

Chronic Investor Blog

Our light-hearted take on the world of investing

Advertiser reports

Register today and get...

Register today and get...
Please note terms & conditions apply