Director dealings: Hansteen executives lower stakes
Hansteen Holdings' joint chief executives Morgan Jones and Ian Watson both disposed of 3.75m ordinary shares in the UK-based industrial property investor on Wednesday.
Jones and Watson, who set up Hansteen back in 2005, sold the shares at an average price of 94.53p each, for a total value of £3.54m each.
Hansteen's shares crept up on Monday, after reporting that the value of its property portfolio grew despite Brexit uncertainty, though its net asset value (NAV) was diminished by a significant distribution to its shareholders following the sale of assets.
The firm reported that its like-for-like property valuation increased by 7% to £39.6m over 2018, led by gains in the Midlands and the North West, with its NAV per share at 102.7p, down from 130.6p a year earlier.
This followed the sale of £294.5m of assets above book value and the acquisition of £56.9m of property, which enabled the group to return £144.5m, or 35p per share, to shareholders.
Profit before tax meanwhile fell 15% to £59.5m
As of 1630 GMT, Hansteen shares had dipped 0.31% to 96.35p.
Top Director Buys
Bank of Cyprus Holdings Public Limited Company (BOCH)
Director name: Dr. Josef Ackermann
Amount purchased: 400,000 @ 1.37
Value: 547,280
Rotork (ROR)
Director name: Mr Kevin Hostetler
Amount purchased: 130,000 @ 285.65p
Value: £371,345
Royal Dutch Shell 'A' (RDSA)
Director name: Mr Ben van Beurden
Amount purchased: 10,168 @ 2,776.00p
Value: £282,264
Renishaw (RSW)
Director name: Mr Geoff McFarland
Amount purchased: 3,000 @ 3,792.00p
Value: £113,760
Cobham (COB)
Director name: Mr David Lockwood
Amount purchased: 83,900 @ 111.28p
Value: £93,364
Cobham (COB)
Director name: Mr David Mellors
Amount purchased: 63,228 @ 111.28p
Value: £70,360
The Gym Group (GYM)
Director name: Mr Richard Darwin
Amount purchased: 23,911 @ 220.03p
Value: £52,611
Hansteen Holdings (HSTN)
Director name: Mr David Rough
Amount purchased: 53,191 @ 94.00p
Value: £50,000
Ebiquity (EBQ)
Director name: Mr Alan Newman
Amount purchased: 100,000 @ 44.00p
Value: £44,000
Howden Joinery Group (HWDN)
Director name: Mr Andrew Livingston
Amount purchased: 6,655 @ 484.10p
Value: £32,217
Top Director Sells
Hansteen Holdings (HSTN)
Director name: Mr Morgan Lewis Jones
Amount sold: 3,752,039 @ 94.53p
Value: £3,546,802
Hansteen Holdings (HSTN)
Director name: Mr Ian Richard Watson
Amount sold: 2,381,967 @ 94.53p
Value: £2,251,673
Hansteen Holdings (HSTN)
Director name: Mr Ian Richard Watson
Amount sold: 1,370,073 @ 94.53p
Value: £1,295,130
Rotork (ROR)
Director name: Mr Jonathan Davis
Amount sold: 131,630 @ 293.00p
Value: £385,676
Go-Ahead Group (GOG)
Director name: Mr David Brown
Amount sold: 5,380 @ 2,000.35p
Value: £107,619
The Gym Group (GYM)
Director name: Mr John Treharne
Amount sold: 17,235 @ 222.00p
Value: £38,262
Synectics (SNX)
Director name: Mr Paul Webb
Amount sold: 14,207 @ 204.00p
Value: £28,982
The Gym Group (GYM)
Director name: Mr Richard Darwin
Amount sold: 11,080 @ 222.00p
Value: £24,598