First Property Share Discussion Threads

[simonsaid1] 11/4/2017 16:53

Sorry I posted that to the wrong thread - FPO is a solid performer, i was whining about LRM!

[glawsiain] 11/4/2017 15:42

Simonsaid - its up about 16% in the last month. I'm content with that ;)

[jackson83] 11/4/2017 03:56

I buyer 💰💰💰💰

[jackson83] 11/4/2017 03:51

💰...I thinking of purchasing 1 million shares of the price holds 📈📉

[blobby] 10/4/2017 10:04

Yes I agree. FPO continue to do well.

[catsick] 10/4/2017 08:52

Fairly upbeat statement, bullish they can deploy cash still with a 20pct return on equity as well as growing aum at 60pct while most other asset managers are struggling ....

[catsick] 04/4/2017 15:08

Yep , another boost will be the progress on the asset mgmt side, they should be over 500m gbp now of fee creating aum, this is really the value add part of the business thats in there for nothing, Simon Thompson doesn't mention it in his article but its what sets this company apart from its peers and should have it trading at a big premium to nav .

[simonsaid1] 04/4/2017 13:54

Yep tipped by Simon Thompson today, expecting above estimate interims and revising target price up.

[catsick] 04/4/2017 13:21

Sudden surge to 53 on decent volume looks like been tipped again ...

[simonsaid1] 31/3/2017 11:06

I'm in profit too, but the share does seem to have hit a resistance level at 50p despite lots of good news. I think it's sector bias from investors, many of whom haven't quite put together the positive implications of the weakened pound for businesses like FPO. No doubt this will see £1+ eventually, just needs some more press attention and some more good deals.

[3800] 31/3/2017 10:57

Thanks for putting up that Tomps2 like all management the man can certainly talk the talk but in this case he certainly has delivered the results. I've just been looking at the price I bought in at and it's about one third of the current price so no complaints there.
3800

[tomps2] 31/3/2017 08:52

CEO, Ben Habib, talks FPO strategy.

In a 3.5 mins interview, followed by a longer c.30 mins investor presentation. All insightful and informative.



Longer presentation:

Introduction - 00:24
Investment philosophy - 01:26
History of the company 2001 - 04:10
History of the company 2005 - 05:23
History of the company 2008 - 07:2
History of the company 2009 - 09:19
History of the company 2013 - 10:23
History of the company 2016 - 12:53
Results of thinking from first principals - 15:26
Track record - 16:13
Looking ahead - 17:22
Q&A, changing work habits - 19:32
Q&A, London price - 22:03
Q&A, how much portfolio is outside the UK? - 25:21
Q&A, leverage - 26:54
Q&A, why invest in the UK? - 30:22

[jimmywilson612] 30/3/2017 13:02

Yes looks a good deal for both parties.

I do think that they undervalue their assets - fine by my books as I like the cautious, well-managed company that FPO is.

[catsick] 28/3/2017 08:29

Another nice deal with a quick 50pct profit made, sounds like the lidl supermarkets they also bought recently in Romania at 11 pct yield are probably worth a chunk more than they paid now too

[catsick] 13/2/2017 08:58

The more of these deals they do the higher the fee income split will be, the asset manager business is valued at zero but they will be up to 500m gbp of assets now under management and that business is becoming more valuable with each new deal ..

[dorset64] 13/2/2017 08:30

This has been & will, imo, continue to be a very solid investment for years to come. Well done to the BoD's.

[yupawiese2010] 13/2/2017 08:00

Todays RNS reads very well, would be interested to know what the exchange rate on the transaction, will be completed at.

[catsick] 13/2/2017 07:56

Nice deal invest 1.5m eur and get 220k upfront fees and 440k a year in income and more fees ... Unlike most asset managers these guys are building aum very quickly with the eating your own cooking model

[tyranosaurus] 16/1/2017 13:18

Today it`s good news. New fund management mandate.

[simonsaid1] 09/1/2017 13:42

Crikey, what happened today?

[catsick] 20/12/2016 08:35

Nice update on aum , growing fast and the fund mgmt business is basically valued at zero at some point there will be a realization of what a great business this is !

[yupawiese2010] 01/12/2016 18:36

We have been shortlisted for the Property Fund Manager of the year, in the Pension Age Awards - result to be announced on the 23rd Feb 17.

Hopefully greater recognition, might bring further FUM mandates.

[speedsgh] 28/11/2016 13:08

FPO tip update by Simon Thompson on Investors Chronicle website today. Reiterates BUY.

[subscription required]

[tomps2] 24/11/2016 16:07

Simonsaid1, I agree - totally bizarre. Broker (Arden Ptrs) yesterday, 23.11.16, upgraded forecasts PBT: £9.2m(+30.6% on previous forecast); EPS 5.6p (+32.1% on previous forecast). And there's a dividend yield of 3.3%.

Fx benefit, with contributions from new investments last year, and reduction in funding costs on European debt; NAV up 6.6% (to 45.48p) due to fx.

I guess it appears profits are flat at 4.47m, but last year there was a one off item of £1.58m, this year only £290k one off - so the real picture is pretty impressive; and more sustainable in future years. Equally, the EPS was down 17%, but this is due to a complex deferred tax due to fx, but only applies to H1 (this allows for H2).

So increase Group Properties profits (+3%)come from lower interest rates, and lower avg debt, but a wapping 16% £7m adddition from fx.

Property fund management profits fell dramatically £1.19m to £0.77m, mainly due to non repeat of performance fees of £0.86m from the PDR fund last year. However 3rd party funds under management grew 20% £196.2 to £234.5m.

Well worth taking a look at the broker note, which can be found on the paid for subscription service, Research Tree. (Well worth the subscription).