Undervalued buying shares back

[odysseus2000]

British Land just announced a share buyback, citing their share price as better value than other opportunities:

http://www.iii.co.uk/alliance-news/1500 ... re-buyback

Kind of interesting. Is this saying the real estate market is toppy, or these kind of equities selling well below asset plays are currently completely loathed by investors?

Do folk have ideas about similar opportunities? Today's announcement has spiked the price up by circa 3%.

Regards,

[Raptor]

British Land just announced a share buyback, citing their share price as better value than other opportunities:

http://www.iii.co.uk/alliance-news/1500 ... re-buyback

Kind of interesting. Is this saying the real estate market is toppy, or these kind of equities selling well below asset plays are currently completely loathed by investors?

Do folk have ideas about similar opportunities? Today's announcement has spiked the price up by circa 3%.

Regards,

I recently purchsed BLND for my daughters portfolio. As it is REIT they are restricted to how much hey can keep within the company. Now I think what has prompted this (and this is only my opinion) is that the "quality proporties" are not around at the moment and they do not want to buy below this "quality" pool. so rather than pay out substantial divi's they have gone for the "buy back" process. Going forward this should mean less shares to spread the divi around. We will see if this is right for them. Whether there are similar opportunities, do not see any in REIT....

Raptor.

[odysseus2000]

Hi Raptor,

Nice that the gap up in the share price is holding at least for now.

Yes, straight out of the Buffett play book, reduce the share count, so that going forward the distribution pie is cut into bigger pieces.

Also interesting to me that there are not so many cases of stuff selling well below asset price. Many now liken 2017 to the bull market of 1999. However, then the old school bricks & mortar stuff was cheap to assets like Blnd today, but the absence of lots of other similar value opportunities is one of several things that makes me wary of the folk who keep top calling.

Regards,