MCW - Macquarie Countrywide Trust

[Gurgler]

Anyone have any information on this stock. Big spike in volume recently after suffering significant downside after Centro and sub-prime debacles.

Looking over its properties in Aus & US they seem to have a solid base and occupancy rate.

Anyone with specialised knowledge in this field (or in charting), your views would be appreciated.

 

[Gurgler]

It may be that BigCharts.com are having a problem with their volume calculator - just looking at other charts they have produced recently. Other threads have commented on a multiple factor of 100 - for some reason.

Apart from that possible distortion, what are peoples' thoughts on MCW?

 

[Tysonboss1]

Apart from that possible distortion, what are peoples' thoughts on MCW?

I have bought some MCW, It's current dividend yeild and asset spread is pretty good.

I am not banking on a quick recovery but I think the share price will firm up over the coming 12months,

 

[susu0303]

Hi all,

Just wondering how about this stock. At $0.24, Earning 13.3c, dividend 8c. No due debt in FY2009.

Seems quite solid and quite good dividend. I have a small stake now. Might get more.

The Dividend yield is about 45%, compare to SGP, it's just about 10%.

Any one knows why?

 

[robots]

hello,

they have cut dividend from 15c/share to a forecast of 10c/share and now most recently to 8c/share for next year,

they have a ex-div day this week i think,

they WILL capital raise shortly, i have spoken to this company numerous times in the past 4 mths since it has been hammered,

they are caught up in the whole "debt" spin around the world with 51% gearing and have a lot of shopping centres in US

i cant believe they are selling properties in Australia and they are re-branding themselves as a pure rent collect trust

thankyou
robots

 

[susu0303]

Hi Robots,

Thanks for the clarification. The rumor of the capital raising has been for a while. The effect of both this and the dividend cut was already released. That's why the price has been cut 50% by now.

As their debt status, I bet the earliest capital raising time will be March next year.

My point is, is the stock been undervalued? The dividend convert rate is about 35% now, PE ratio 2.09, even if it's cut down by 50% for any reason, it is still quite competible to other real estate stock.

 

[robots]

hello,

the thing is the dividend is no certainty, it went from 15c to 8.5c

if they dont sell prop in US, maybe they will cut even more of the dividend to reduce gearing

they having a lot of trouble selling "anything" in the US at the moment,

totally agree it is undervalued and the hysteria has smacked it, will probably be a 5 yr turn around at least maybe

thankyou
robots

 

[susu0303]

Now it's jumping to 0.26, from 0.20.... So good. seems have another 10% to go.

Anyone got this stock as well?

 

[Tysonboss1]

This stock makes up a about 25% of my share portfolio, I have been accumulating them since they were about $0.80 my average price / unit at the moment is 22c, I bought a heap at 20c before they went ex dividend which lowered my average right down,

The reason I bought such a large amount at 20c is because with a 4c div on it's way it was a 20% return on that one dividend alone, so I took the punt that the stock would atleast hold value at around 20c and I would be ahead, since then the stock has increased to 25c so with the div and cap gain I am ahead about 40%.

I am just holding this stock and collecting div's.

 

[Tysonboss1]

MCW has been spanked smashed the last two days, Does anybody have any idea of what might be the reason.

The released the earning annoucement which I thought was quite good, but immeadiatly after the share price slumped 50%.

I am at a loss to explain why the market has reacted this way, Maybe I will just buy some more because I can't see anything except fantastic value.

 

[Tysonboss1]

another interesting point is that macquarie group has increased their holding from 12% to over 14%.

So Macq group must have faith in mcw

 

[robots]

hello,

they will not pay a dividend soon i believe and will most likely be wound up Tyson,

debt levels still very high, dont worry i have been on the phone to them

flies in the face of "grocery-anchored" commercial property, maybe in US the "true" number of empty shops is not being reported to us properly

thankyou
robots

 

[Tysonboss1]

hello,

they will not pay a dividend soon i believe and will most likely be wound up Tyson,

debt levels still very high, dont worry i have been on the phone to them

flies in the face of "grocery-anchored" commercial property, maybe in US the "true" number of empty shops is not being reported to us properly

thankyou
robots

Hi Robots,

What have MCW said when you have talked to them.

I don't think that they will be wound up, and I can't see why they couldn't maintain the 4c div.

Do you hold this stock

 

[robots]

hello Tyson,

i rang them and said: hello its Robots here can i speak with someone about MCW

see PM regarding Macquarie Countrywide Trust

thankyou
robots

 

[JTLP]

Tyson lets do a bit of word association here:

Cow - Milk
Mother - Father
Macquarie - Shady :

No but seriously...anything with that big M thrown in the mix is being thrown under zi microscope...as per MQG's fall from grace...

 

[Tysonboss1]

Key results:
•
Net property income of A$188.61 million up 10.4% on the prior corresponding period
•
Core earnings of A$90.7 million up 6.6% on the prior corresponding period
•
Distribution of four cents per unit for the half year ended 31 December 2008
•
Net tangible assets at A$1.48 per unit down from A$1.79 per unit as at 30 June 2008
•
Seven asset sales, with a value of A$120.5 million completed and a further A$427.6 million contracted post balance date – all proceeds will be used to repay debt

 

[Tysonboss1]

MCW has showed some real strength latly, after dropping back long enough for me to pick up some more parcels at under 15c.

I struggle to see anything except value in this one.

It's weird how people call WOOLWORTHS a great defensive stock, but call the company that leases them the building a risky stock... Oh well I will just soak up these stocks at this level and collect the dividends into the future, did someone say early retirement.

 

[robots]

MCW has showed some real strength latly, after dropping back long enough for me to pick up some more parcels at under 15c.

I struggle to see anything except value in this one.

It's weird how people call WOOLWORTHS a great defensive stock, but call the company that leases them the building a risky stock... Oh well I will just soak up these stocks at this level and collect the dividends into the future, did someone say early retirement.

hello,

top effort man, couldnt agree more with your sentiment

and as MCW has openly informed us its proceding as a pure rent roll play then defensive all the way

my concern is the US portfolio which makes up a large part of trust has tenants which may not be the quality of woolworths or coles and they are selling properties here in Aus which are leased to the defensive players

good work man you coming from a different play to me

thankyou
robots

 

[Tysonboss1]

Wow,...

This stock has been showing some real strenghth latly. It has pushed up passed the 30c mark and is currently sitting at 34.5 cents.

The market depth is really strong with buy orders out numbering sell orders by 10 to 1.

I have been waiting for a retracement back under 30cents so I can buy some more, but I think it is going to stick over 30cents this time.

 

[Tysonboss1]

MCW has showed some real strength latly, after dropping back long enough for me to pick up some more parcels at under 15c.

I struggle to see anything except value in this one.

It's weird how people call WOOLWORTHS a great defensive stock, but call the company that leases them the building a risky stock... Oh well I will just soak up these stocks at this level and collect the dividends into the future, did someone say early retirement.

Wow, I knew MCW's recovery was bound to happen but I didn't think it would be this fast,

the stock is currently sitting at around 46.5 cents although I am holding for dividends, I am certainly happy with the cap gain.

I am now tossing up whether I should be looking at selling some of my position because I am over weight in this stock, or should I just hold on for a $1 a share( possilbly 2 years away)