Some investors who followed our advice and bought shares in property developer LXB Retail Properties (LXB) (145p, 16 April 2015) have expressed dismay at the sudden fall in the share price. But this is the product of the shares being quoted ex-dividend, or without the bumper 45p a share special capital return paid out of the proceeds of selling its Biggleswade investment.
IC TIP:
Buy
Take that 45p off the previous share price and include the overall decline in stock markets, and at 88p the shares are not that wide of the mark. And crucially, even after taking into account that sale, the shares are trading at a significant discount to forecast net asset value.
