Share Name Share Symbol Market Type Share ISIN Share Description
F&C Commercial Property Trust LSE:FCPT London Ordinary Share GG00B4ZPCJ00 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.20p +0.80% 151.70p 151.20p 151.50p 151.70p 149.00p 149.00p 1,168,432 16:35:03
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 62.6 151.6 19.0 8.0 1,212.56

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Date Time Title Posts
24/4/201714:59F&C Commercial Property Trust162.00

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F&C Commercial Property Daily Update: F&C Commercial Property Trust is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker FCPT. The last closing price for F&C Commercial Property was 150.50p.
F&C Commercial Property Trust has a 4 week average price of 143.10p and a 12 week average price of 135.80p.
The 1 year high share price is 151.70p while the 1 year low share price is currently 98.30p.
There are currently 799,316,108 shares in issue and the average daily traded volume is 1,155,855 shares. The market capitalisation of F&C Commercial Property Trust is £1,212,562,535.84.
vacendak: NAV up, now trading at a 5% premium.
vacendak: NAV update today (gone up): FCPT is now officially trading at a slight premium, like in the days of old.
vacendak: Cashing in on a building in central London: Positive move compared to valuation, so good news. We should know soon where they are going to re-invest it. From the RNS, it is assumed away from Central London.
vacendak: AN RNS about the latest NAV: At 132p, it is down from last time (June 30th: 134.1p) by 1.6%. Nothing terrible considering the buffeting taken by the sector lately. Good performance from the Midlands, biggest drag was from "rest of London". Oddly enough warehouses have been doing badly. The ungeared decrease was only 0.9%, a lesser fall than the IPD Index (3.6%). I wonder if the portfolio had gone up they would have mentioned an ungeared improvement which obviously would have been less than the geared value... :) The share price is still showing a slow but steady recovering trend. The gearing is up a bit at 20.7% (19.9% back in June).
vacendak: FCPT has been recovering slowly but steadily over the past month or so now. Still at a discount and I am not expecting it to be back up to 145.5p any time soon (its 52w high), but with the economic data refusing stubbornly to turn sour despite our "stupid" Brexit vote, there is hope for the share price I guess.
vacendak: Half-yearly report is out. Mixed bag, good news on the dividend cover, which is increasing, but still below 100%. Gearing ticking upwards slightly at 19.9%, it used to be 19%. NAV down a bit but likely mostly due to the difficulty on obtaining a reliable valuation due to post-Brexit jitters. So the NAV could technically be also slightly up in real terms. The yield is up, but calcutaled for the poor share price at the end of June, the important thing is to see that the yearly dividend is maintained at 6.0p per share, which is what I am mostly after with this type of investment.
vacendak: FCPT is an investment trust, not an open ended fund. The share price can go down to zero, they will still not need to give back any money. Sure, if things go very wrong, the dividend might ne at risk, although in their case, the cover increased a bit last time they reported it. The dividend is a stated policy of the trust, so I would expect them to increase gearing just to sustain it. Again, they do not face the same problem as the open ended funds so do not need to have a fire sale of their buildings. In fact, it is possible that they could buy additional properties if the big funds need to realise cash quickly and flog off their own buildings. I got into this one to diversify the portfolio a bit last year, so I am not sweating too much about the recent losses. As speedsgh indirectly pointed out, this is not the type of share for an "all eggs in the same basket" approach especially now. Crafty me started to invest in it when there was still a premium, just to maximise losing money! :)
jonwig: FY results: HTtp:// Some quite impressive features: dividend cover has risen to 81% and gearing is only 19%. Share price now roughly on a par to NAV, after a period of - arguably - too high premium.
salchow: I wish this company would simply pay dividends out of sustainable income. In the past year the dividend was only 50% covered although there were reasons for this and normally it would be 75% covered. If the dividend were reduced by 25% the board could concentrate on gradually increasing it over the years as the rental income became greater leaving changes in the valuation of properties to be reflected in the share price. I think they have some great investment properties but I would actually be prepared to invest more if they had a more realistic dividend policy.
salchow: The dividend excluding revaluation gains was only covered 56% in year to 31.12.13 compared to 72.5% in the previous year. Reasons were given and it is expected cover will increase this year although I would not think to anywhere like 100%. Obviously, with the London based properties the valuation gains should make up the difference so I am relaxed. UK Commercial Property Trust were in a similar situation and they cut their dividend so that it would be covered by income and this had no long term effect on their share price. However, I think they may have had more retail exposure than FCPT and in my eyes are less attractive. Personally, I would prefer to invest in property companies that pay a good return based on annual rental income leaving the share price to reflect revaluation gains. Having said that, FCPT appears to have a great portfolio. With regard to the premium to NAV provided this is not too high it is not a matter that worries me too much. If I were to have the funds to invest in properties directly I would have the stamp duty, legal fees and the research and other costs involved so my spend would immediately be in excess of the value of the properties and so compared with doing it myself I don't think a premium is unwarranted.
F&C Commercial Property share price data is direct from the London Stock Exchange
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