F&c Commercial Property Share Discussion Threads

[eggbaconandbubble] 10/8/2016 16:47

OK. Point taken. But don't let it become a habit!!!

[vacendak] 10/8/2016 16:20

Egg

Spot on!

I get a premium membership for free, working at a university; so I read it.
For a while after the referendum it was indeed vile, impossible to read anything at all that did not mention "Stupid voters, hopefully Parliament will ignore them...". I ended up only reading the Lex column (I like their puns) and the market updates.

As pointed in the previous post, the FT is fun again to read if, like me, one loves sarcasm. Since they are supposed to be a financial rag, they must report financial news every now and then and it is always hilarious to see them trying to wriggle out from announcing good news for the UK economy. :)

[eggbaconandbubble] 10/8/2016 15:51

YOU READ THE FT!!!!!
It's a bunch of pinkos who tried to persuade peeps to vote remain so they would benefit by us staying in.
And a grossly over priced rag to boot!

PS. Rant over!

[vacendak] 10/8/2016 13:55

Brexit jitters are abating.

Yesterday the FT had to eat crows and report that people had spent more in the high street than expected/hoped-in-order-to-moan-about-Brexit; which is good news for shops since it allows them to pay their rent on time. In turn, good news for FCPT.

[eggbaconandbubble] 10/8/2016 13:39

well, lets hope so!

[vacendak] 10/8/2016 13:00

I guess FCPT has found its floor and is now inching its way back-up.

[vacendak] 19/7/2016 08:42

NAV is down:
"...the probability of the valuations exactly coinciding with prices received were the properties to be sold has reduced."

This is mostly due to a hit on the valuation of the London offices, retail and industrial properties are positive.

Some good news on the debt servicing side of things and an additional £50 million facility that could allow for further acquisitions - wink wink at the above mentioned problems with the open ended property funds.

[badtime] 12/7/2016 12:29

Monty ..I'm surprised at that ignorant comment..thought you knew better than that

[vacendak] 12/7/2016 09:36

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! :)

[salchow] 11/7/2016 10:29

montyhedge - it is not that sort of fund

[montyhedge] 11/7/2016 10:10

Will they continue to pay dividend? Or could they say we are preserving cash to pay out to investors who want to sell.

[eggbaconandbubble] 11/7/2016 09:43

Very sensible vacendak!

[vacendak] 11/7/2016 09:39

Got pretty savaged recently.
Recovering slowly from the recent nadir. Steady dividend though.

Still investing regularly on the way down so that I will not miss anything on the way up. :)

[speedsgh] 06/4/2016 11:17

Property trust issues Brexit warning as market cools -

[speedsgh] 05/4/2016 13:24

Aye. Good results looking backwards. It's the going forwards where the uncertainty lies hence the disappearance of the premium imo.

"The UK commercial property market is continuing to deliver good performance but there are signs that investment momentum may be easing. There are concerns about pricing, particularly in London, and the market is entering a phase of the cycle where yield compression and the rate of rental growth are both expected to level off."

[jonwig] 05/4/2016 07:20

FY results:



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.

[jonwig] 02/2/2016 17:22

"Uncovered" by cash items - rental income. "Earnings" include non-cash property revaluations. Strip those out.

[eggbaconandbubble] 02/2/2016 16:33

'uncovered'? Year end 2014 the Basic Earnings were 22.5p!

[jonwig] 04/11/2015 07:42

Yes - has been for ages. It's uncovered so unlikely to increase. They are reluctant to cut it, too.

[eggbaconandbubble] 03/11/2015 18:05

Is dividend 6p per annum paid at 0.5p per month?

[jonwig] 16/7/2015 14:32

Better, imho, and premium may be narrowing, dunno.

Positioning of assets, management and performance of this trust seem fine, why fret? ... unless you're a short-term trader.

[eggbaconandbubble] 16/7/2015 12:04

Net asset value. Is that as expected, better or not so good?

[jonwig] 10/4/2015 11:36

salchow - converting to a REIT would do the trick, I think, but they seem dead against it!

[salchow] 10/4/2015 10:39

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.

[luckymouse] 20/3/2015 11:24

Good entry point - buyers hitting the dip