Empiric Student Property Share Chat (ESP)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Empiric Student Property Plc	LSE:ESP	London	Ordinary Share	GB00BLWDVR75	ORD GBP0.01

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	+0.00p	+0.00%	94.80p	94.80p	95.00p	95.30p	94.60p	94.70p	4,346,318	16:35:00

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Real Estate Investment & Services	64.2	40.3	6.7	14.2	572

Empiric Student Property Share Discussion Threads

Showing 3976 to 3999 of 4000 messages

Chat Pages: 160 159 158 157 156 155 154 153 152 151 150 149 Older

Date	Subject	Author	Discuss
20/8/2019 15:51	I've increased by 25%.	skinny	Read Full Thread Reply
20/8/2019 15:31	It’s worth remembering that DIGS yields 3.74%. ESP yields 5.38% That’s too wide given the increasing stability of the latter.	chucko1	Read Full Thread Reply
20/8/2019 14:07	I guess one question might be - "why aren't your earnings higher". Isn't as if they're doing an NRR and paying out a 14% yield - they're paying barely what they promised to pay at listing, and certainly not what they'd intended to be up at by now. But that discount - compared to peers - surely has to close eventually.	spectoacc	Read Full Thread Reply
20/8/2019 14:04	There was very little to indicate the route to full div cover. I need to see that to get excited about this, but I do agree that they nailed the results yet again and the risk is therefore lower again. Deserves a lower discount. An 8% lift to about 100p plus 5p of divs suggests a yield for the next year of about 13 or 14%. Fine by me, so might actually add a few.	chucko1	Read Full Thread Reply
20/8/2019 13:58	I think if/when that divi is finally fully covered, we'll see it trading nearer to the rising NAV - if it doesn't get taken out first.	spectoacc	Read Full Thread Reply
20/8/2019 13:50	Really pleased with progress here,It does seem that outsourcing facilities management and previous BOD were a problem that seems to be now solved. Dividend cover is progressing as planed and so is everything else. Nav up a bit too. Really good.	stevegrass777	Read Full Thread Reply
20/8/2019 10:15	Bookings appear to be slightly down on last year - remains on watch for me. Today - "Bookings of 85% for the 2019/20 academic year at 19 August and progressing well" Last year - "Bookings of 87% at 14 August 20185, putting us on track for full occupancy of 97% for the 2018/19 academic year (Note: Bookings of 87% at 14 August 2018 is contained within the Interim Report. Bookings increased to 89% at 20 August 2018 as set out in the analyst presentation on 21 August)."	sailing john	Read Full Thread Reply
20/8/2019 08:24	ESP seemingly specialising in absolutely bang on t/s's and "steady as she goes", after the early years of surprises/disappointments. Market not really woken up to that IMO, and rating them on a fat discount (notwithstanding that divi still won't be fully covered). Had a quick look at sector peers - last Unite Group EPRA NAV 820p, trading at 1043p. DIGS EPRA NAV 163.96p, trading at 165p. ESP's 108.5p vs 93p is certainly an outlier - expecting that to close, eventually. Should be trading nearer £1 IMO, making an allowance for earlier disappointments.	spectoacc	Read Full Thread Reply
20/8/2019 07:45	Yes compared with dividend cover H1 2018 at 60% this has moved a long way in the right direction.	rik shaw	Read Full Thread Reply
20/8/2019 07:40	Looks reasonably good to me - 94% cover at half year (albeit "on track" for 85% FY cover), EPRA NAV 108.5p. Fairly striking NAV discount compared to sector premia.	spectoacc	Read Full Thread Reply
12/7/2019 12:43	NAV flat is what makes me keep a few of these. This company should be bought out if they cannot get full dividend cover and feed it with higher operating income. Others have shown they can do it and the portfolio appears to be decent. Clearly the assets are in reasonable demand.	chucko1	Read Full Thread Reply
11/7/2019 21:27	Hi daviepj, Re Unite takeover of Liberty Living The price being paid by UTG is at NAV so no premium and no discount - so I assume that there is a bit of debt acquired - probably secured against the individual properties. Nevertheless, Unite are going to do well out of it as the economies of scale will deliver efficiency benefits. Regards Maddox (long Unite)	maddox	Read Full Thread Reply
11/7/2019 20:07	Saw this on CityWire - hxxps://citywire.co.uk/investment-trust-insider/news/unite-seals-no1-status-with-1-4bn-student-digs-deal/a1246886?re=66106&ea=398014&;utm_source=BulkEmail_Investment+Trust+Insider+Daily&utm_medium=BulkEmail_Investment+Trust+Insider+Daily&utm_campaign=BulkEmail_Investment+Trust+Insider+Daily. Thing that caught my eye was Unite are paying £1.4 billion for a portfolio that 'was independently valued at £2.2 billion in May'.	daviepj	Read Full Thread Reply
11/7/2019 10:58	A few select quotes from the Guardian today..... 'Applications from Chinese students to study at UK universities have gone up 30% since last year' 'The Ucas figures also revealed an increase in the number of British 18-year-olds applying for places, up 1% on last year to 275,520 despite a 1.9% fall in the overall 18-year-old population of the UK. EU applicants have also risen 1%, to 50,650 despite the Brexit uncertainty, and Ucas reported a record number of applicants from outside the EU at 81,340, an increase of 8%.' hTTps://www.theguardian.com/education/2019/jul/11/chinese-students-applications-to-uk-universities-up-by-30 I wonder whether EY will be up-dating their report to reflect the continuing growth in this sector? Regards Maddox	maddox	Read Full Thread Reply
11/7/2019 06:51	Not sure I'd have got into ESP if not for the stupidity.. :) Currently prefer AEWL to AEWU.	spectoacc	Read Full Thread Reply
10/7/2019 20:12	2wild, exactly what I was considering doing today. Same two stocks! I’ve effectively been doing that for a few months now. I did have quite a bunch of ESP and lightened up as it approached par a while back. Bought into AEWU in the low 90s, but they have partly gone now. Into RGL. Now looking to pick up AEWU again at around this price. Yes, I think this is kind of it for ESP. Better rewards for the risk elsewhere. The only issue is that of the NAV discount - about 15%. For that reason, I still keep some. The journey has been good, but would have been better had it not been for the stupidity of two years back. I think the last set of trading results were worrisome in that their stated intention of covering their EPRA dividend by FY 2019 was not evident.	chucko1	Read Full Thread Reply
10/7/2019 19:15	Sold out of ESP at 92.5p today, as don't see share price going anywhere. Dividend is ok but uncovered and will probably remain so for a few more years. Reinvested in some more AEWU with an 8.3% coverd dividend, low LTV at 25% and very low cost of debt at circa 2.5%.	2wild	Read Full Thread Reply
09/7/2019 07:49	LSE got an RNS problem atm. "The board is pleased to confirm that the Company remains on track for FY2019 with operating margin expected to be above 67%, administration costs around £10 million and dividend cover in the region of 85%."	spectoacc	Read Full Thread Reply
09/7/2019 07:47	ESP update not showing up here.	killing_time	Read Full Thread Reply
03/7/2019 10:17	Hi jonwig, Happy that you raised the issues, always important to look carefully at the risks. We investors need a 'speak-up' rule so we encourage a constructive discussion in a respectful way of both positive and negative points. Nothing worse than someone saying after a share falls 'yep thought that (whatever) was a problem'. Regards, Maddox	maddox	Read Full Thread Reply
03/7/2019 06:54	"The directors of the scheme, Mr Spence and Mr Kewley, partly blame competing supply for the schemes’ difficulties. Even if it were fully let, though, it would only bring in £10m of income, according to notes of the creditors’ meeting with Quantuma. Most of the sites offered returns of 10 per cent — meaning even maximum rents, as it currently stands, do not appear to be enough to pay the investors the amount in the contracts after accounting for costs." Https://ftalphaville.ft.com/2019/07/03/1562130014000/How-a--100m-student-accommodation-scheme-went-wrong/ Will be more scams like this around I'm sure. And this is before the tide has even gone out! Much better to have invested in ESP instead.	spectoacc	Read Full Thread Reply
03/7/2019 06:49	Maddox - I'm not taking sides on what was, for me, merely a piece to report on. I wonder if the EY study had more relevance in the political atmosphere of 2016 than maybe it does now? UK student finance is highly politicised, and the question of the value of the value of some HE degrees as opposed to vocational education is never far away. It's likely that there will be an increase in OS students, whilst the situation in 2016 was one of repression. (Thanks to the then Home Sec, whose name escapes me.) My interest in the sector is purely through a holding in DIGS, whose business model is more affected by the current Mayor's policies than any nation-wide factors. I accept the point you made about UTG over on that thread. I can't comment on any relevance to ESP, as I've not followed the company.	jonwig	Read Full Thread Reply
02/7/2019 22:23	Hi Jonwig, Thought I'd pursue the general discussion here. “The number of UK students available to fill private sector beds has declined,” said Fergal O’Reilly, an EY partner." This statement is blatantly incorrect. EY wrote a report Dec 2016 'Purpose Built Student Accommodation - testing times ahead' stating that the sky was going to fall in on the PSBA sector. Essentially, it argued that student numbers are in decline due to demographics. It's a classic consultants ploy to drum up work to create fud (fear, uncertainty and doubt). I used to be a strategy consultant so I recognise the tactics. Can't find an online link for it or find this report on EY's web site? Suffice to say the report's predictions are not proving to be correct. Whilst of course the demographic decline is real enough it has been more than off-set by: 1. Proportionately more of those 17/18 year olds opting to go to university; 2. More foreign students coming to he UK; and 3. More second and third year students opting to stay in-hall. EY chose to ignore the potential for points 1 and 3 in what is a chronically under-supplied market. Regards, Maddox	maddox	Read Full Thread Reply
29/6/2019 17:44	Interesting - on the flip side, Unite announced they were in talks to buy Liberty Living on Thursday, £1.4bn. So plenty of life in the sector IMO, if scams avoided.	spectoacc	Read Full Thread Reply

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