Shares in real estate regeneration specialist U+I (UAI) are up over 40 per cent since our buy tip (158p, 24 Nov 2016). But there is still plenty more to come, and deputy chief executive Richard Upton seems like-minded with the purchase of 45,992 shares at 237p.
Specialising in acquiring unloved and overlooked assets, U+I recently sold its holding in three industrial sites in Charlton, acquired in 2015 for an initial cost of £27m, for £58m. Crucially, the company is focusing on partnership agreements, and is currently shortlisted for two major projects with a gross development value of more than £1.5bn.
Even without these, the existing pipeline is enough to meet the three-year development and trading gains target of £125m-£150m. Earnings visibility is extremely strong, with a 10-year pipeline of existing projects with a gross development value of over £7bn. Typical of these is Preston Barracks in Brighton, which has been unoccupied for over 20 years. Working in partnership with Brighton and Hove City Council, work has started on a scheme that will deliver new homes, student accommodation and an innovation hub for young businesses.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Alliance Trust | Robert Smith (ch) | 03 May 18 | 4,000 | 729.68 | 29,187 | 22,000 | 0.006 |
| Ashtead | Wayne Edmunds | 03 May 18 | 14,260 | 2,059 | 293,613 | 21,260 | 0.004 |
| Breedon | Peter Tom (ch) | 04 May 18 | 250,000 | 81 | 202,500 | 42,744,063 | 2.557 |
| Cablevision | Nelson Pozzoli | 09 May 18 | 727 | 6,188.79 | 44,993 | 727 | 0.001 |
| Challenger Acquisitions | Mark Gustafson | 04 May 18 | 1,250,000 | 0.3 | 3,750 | 4,150,000 | 1.874 |
| Clarke (T) | Trevor Mitchell | 09 May 18 | 2,000 | 79.7 | 1,594 | 2,000 | 0.005 |
| ConvaTec♥ | Kasim Kutay | 03 May 18 | 6,000,000 | 224.0766 | 13,444,596 | 6,000,000 | 0.307 |
| Direct Line Insurance | Jane Hanson | 03 May 18 | 11,083 | 360.9 | 39,999 | 11,083 | 0.001 |
| Equiniti | Guy Wakeley (ceo) | 03 May 18 | 7,179 | 277.187 | 19,899 | 1,111,085 | 0.305 |
| Equiniti | Philip Yea (ch) | 03 May 18 | 36,198 | 278.18 | 100,696 | 85,000 | 0.023 |
| Frontera Resources | Zaza Mamulaishvili (ceo) | 08 May 18 | 10,000,000 | 0.48 | 48,000 | 1,024,259,226 | 6.499 |
| Frontera Resources | Zaza Mamulaishvili (ceo) | 08 May 18 | 16,000,000 | 0.49 | 78,400 | 1,040,259,226 | 6.600 |
| GlobalData | Murray Legg | 04 May 18 | 8,000 | 595 | 47,600 | 23,000 | 0.019 |
| IMI | Robert Smith (ch) | 03 May 18 | 6,000 | 1,072.93 | 64,376 | 14,300 | 0.005 |
| IP | David Begg | 08 May 18 | 8,000 | 137.2 | 10,976 | 50,391 | 0.005 |
| Imperial Brands | Oliver Tant (cfo) | 09 May 18 | 2,546 | 2,764.12 | 70,374 | 63,027 | 0.007 |
| Kenmare Resources | Tony McCluskey (fd) | 04 May 18 | 9,023 | 239.45 | 21,606 | 44,357 | 0.040 |
| Kingfisher | Andy Cosslett (ch) | 03 May 18 | 46,703 | 279.7 | 130,628 | 146,505 | 0.007 |
| Manchester & London Investment Trust | David Harris | 04 May 18 | 1,500 | 471.2 | 7,068 | 7,000 | 0.030 |
| Manchester & London Investment Trust | David Harris | 04 May 18 | 1,845 | 471.35 | 8,696 | 5,500 | 0.023 |
| Mission Marketing | Giles Lee | 08 May 18 | 3,618 | 49.75 | 1,800 | 758,869 | 0.900 |
| Mission Marketing | Peter Fitzwilliam (fd) | 08 May 18 | 3,618 | 49.75 | 1,800 | 697,503 | 0.827 |
| Personal Assets Trust | Frank Rushbrook | 03 May 18 | 4 | 39,274.50 | 1,571 | 13,648 | 0.616 |
| Personal Assets Trust♥ | Frank Rushbrook | 03 May 18 | 4 | 39,344.70 | 1,574 | 13,652 | 0.617 |
| Petropavlovsk♥ | Bektas Mukazhanov | 03 May 18 | 40,000 | 6.78 | 2,712 | 1,192,406 | 0.036 |
| Pittards | Louise Cretton | 03 May 18 | 2,203 | 90.5 | 1,994 | 14,203 | 0.102 |
| Polar Capital | Gavin Rochussen (ceo) | 04 May 18 | 9,500 | 532.35 | 50,573 | 9,500 | 0.010 |
| Polar Capital | Gavin Rochussen (ceo) | 09 May 18 | 19,456 | 539.39 | 104,944 | 28,956 | 0.031 |
| Polar Capital | John Mansell (cfo) | 04 May 18 | 9,500 | 532.35 | 50,573 | 1,721,500 | 1.843 |
| Polar Capital | John Mansell (cfo) | 09 May 18 | 20,044 | 539.39 | 108,115 | 1,741,544 | 1.865 |
| Premier Oil | Dave Blackwood | 03 May 18 | 10,000 | 95.5 | 9,550 | 10,000 | 0.001 |
| REA | David Blackett (ch) | 08 May 18 | 15,000 | 310 | 46,500 | 25,000 | 0.062 |
| SimplyBiz | Matthew Timmins | 03 May 18 | 25,000 | 171.25 | 42,813 | 1,561,975 | 2.043 |
| Smith & Nephew | Roland Diggelmann | 09 May 18 | 208 | 1,295.50 | 2,695 | 208 | 0.000 |
| Smith & Nephew | Roland Diggelmann | 09 May 18 | 1,161 | 1,295.50 | 15,041 | 1,369 | 0.000 |
| Smith & Nephew | Roland Diggelmann | 09 May 18 | 3,131 | 1,295.50 | 40,562 | 4,500 | 0.001 |
| Spirent Communications | Bill Thomas (ch) | 04 May 18 | 21,323 | 116.58 | 24,858 | 67,442 | 0.011 |
| Temple Bar Investment Trust | Nicholas Lyons | 03 May 18 | 760 | 1,309.68 | 9,954 | 760 | 0.001 |
| U+I | Richard Upton | 03 May 18 | 45,992 | 237 | 109,001 | 3,052,026 | 2.440 |
| VR Education | Tony Hanway | 08 May 18 | 100,000 | 16 | 16,000 | 100,000 | 0.052 |
| Weir | Clare Chapman | 04 May 18 | 456 | 2,180 | 9,941 | 456 | 0.000 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Ashtead | Wayne Edmunds | 04 May 18 | 7,000 | 2,090 | 146,300 | 14,260 | 0.003 |
| Computacenter♥ | Gregory Lock (ch) | 08 May 18 | 15,027 | 1,254 | 188,439 | 574,973 | 0.504 |
| EVR* | Anthony Matchett (ceo & ch) | 09 May 18 | 15,625,000 | 16 | 2,500,000 | 168,482,796 | 13.065 |
| EVR* | Steven Hancock | 09 May 18 | 15,625,000 | 16 | 2,500,000 | 130,884,136 | 10.149 |
| Fiske | Alexander Fiske-Harrison | 04 May 18 | 16,848 | 78 | 13,141 | 299,000 | 2.586 |
| Gamma Communications | Andrew Stone | 08 May 18 | 140,000 | 750 | 1,050,000 | 305,000 | 0.327 |
| Independent Investment Trust (The) | D McDougall (ch) | 03 May 18 | 10,000 | 750 | 75,000 | 8,074,500 | 14.557 |
| Independent Investment Trust (The) | D McDougall (ch) | 08 May 18 | 25,000 | 750 | 187,500 | 8,049,500 | 14.511 |
| Independent Investment Trust (The)♥ | R Laing | 03 May 18 | 10,000 | 744 | 74,400 | 840,000 | 1.514 |
| Independent Investment Trust (The) | R Laing | 03 May 18 | 10,000 | 744 | 74,400 | 850,000 | 1.532 |
| Independent Investment Trust (The)♥ | R Laing | 08 May 18 | 10,000 | 740 | 74,000 | 820,000 | 1.478 |
| Independent Investment Trust (The) | R Laing | 08 May 18 | 10,000 | 740 | 74,000 | 830,000 | 1.496 |
| Joules | Marc Dench (cfo) | 04 May 18 | 10,000 | 371 | 37,100 | 88,263 | 0.101 |
| Joules | Marc Dench (cfo) | 04 May 18 | 35,000 | 365 | 127,750 | 53,263 | 0.061 |
| Metro Bank♥ | Howard Flight | 08 May 18 | 200 | 3332 | 6,664 | 25,516 | 0.029 |
| *Placing/tender/open offer ♥Spouse/connected party | |||||||
