Share Name Share Symbol Market Type Share ISIN Share Description
Empiric Student Property 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% 97.50p 97.50p 97.75p 97.75p 97.00p 97.00p 916,112 16:29:55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 21.6 28.1 7.3 13.4 587.82

Empiric Student Property Share Discussion Threads

Showing 3626 to 3649 of 3650 messages
Chat Pages: 146  145  144  143  142  141  140  139  138  137  136  135  Older
DateSubjectAuthorDiscuss
13/11/2017
14:24
Twinkle Toes wants to keep faith with those Mail readers who she sees as behind her rise. Its her "keep the fockers out" edge over everyone.
jl9
08/11/2017
07:14
It feels as though this has been simmering away for years. FT - Amber Rudd, the home secretary, is leading a new cabinet push to remove students from the government’s immigration targets, in a move that will delight universities but put her on course for a clash with the prime minister. Theresa May is said by one minister to be in a minority of one in the cabinet in believing that students must be counted in the target, and she has been implacable in her resistance to any change in policy. But Ms Rudd believes that unless the prime minister changes her position in the coming weeks, the government will suffer a humiliating defeat early next year when the Commons considers a bill to set up a post-Brexit immigration regime. One ally of the home secretary said it was certain that there would be an attempt to amend the Immigration bill: “We’re going to have to do something about this ourselves, or we will be forced into doing it.” 51% of ESP's students comr from outside the UK.
jonwig
07/11/2017
19:07
Unless the management is completely incompetent,this should be a safe business in current environment. They should get 6% initial yield at least for any investment they make and with finance cost around 3.5%, with the rental income only going up on review. This has been borne out by other businesses in the same sector like utg and digs which are quite successful, not mentioning the run-away success like wjg (admittedly on a slightly different business model of development and selling + renting). So the danger lies in their incompetence in over-paying for investment, time and cost-overrun in development and out of control of other costs running the business which in theory should be very lean just renting the properties to students. The management is also quite greedy in their remuneration and incentive packages compared to other companies in the sector considering they managed the worst performance in the sector
riskvsreward
07/11/2017
13:29
A000... - there's a decent business in there waiting to get out. Rein in development, manage costs, pay the covered REIT-compliant dividend. I think they're more or less compelled to pay the expected final (jobs lost otherwise) but could get away with an acceptable future plan from then on. I won't venture to buy before the 23rd, and certainly would want to buy at a decent discount anyway.
jonwig
07/11/2017
13:03
Well - what's it going to be? Judging by the sales today (sales 1.3 million, buys 120K) - the market thinks it's going to be bad. However, Management must be under considerable pressure from institutions who in turn must be smarting at paying 109 pence per share in July - when the board should have known about the upcoming poor results. So my guess is that they - management - will have been working hard to produce an upbeat statement. Conversely, of course, they might decide to lump all the bad news together so that the only way after that is upwards. So - is this share a buy or a "don't touch it with a barge-pole at the moment share"? Being a contrarian I am actively considering buying back in - but will wait to see how it falls in the next few days.
a0002577
07/11/2017
07:06
All will be revealed: Following the commencement of the current 2017/18 academic year, the Board of Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation across the UK, announces that the Group intends to issue a trading update, together with a dividend declaration in respect of the quarter ended 30 September 2017, on Thursday, 23 November 2017. FWIW, I guess the dividend will be as expected, but there will be a statement about future payouts.
jonwig
06/11/2017
14:14
From previous information released, ESP have said they intend to announce the quarterly dividend in November and pay it within one month of the announcement. They have also said the total for the year is intended to be 6.1p I think we can safely assume that a dividend announcement is imminent and it will be for 1.525p Cheers, PJ
pj fozzie
04/11/2017
15:49
The upcoming dividend will cost £9.2m and the sale will raise £2m, as you say. The June balance sheet showed over £23m cash (gross, not net) so I doubt they're strapped! As a non-holder, and opportunistic, I can wait and see if they revert to pure PID payments (90% of net rental income, about 4.2p pa). I hope the pressure on them to do this is being applied right now.
jonwig
03/11/2017
11:09
They confirmed another 1.525p will be paid so that the total is 6.1p for 2017. I suspect they are waiting for the £2m sale to complete on 28th Nov which will boost the bank balance a little.
hannath
03/11/2017
09:32
Thanks jonwig for the information. On further digging I think they have now scheduled quarterly dividends to Feb., May, Aug. and Nov. They declared the last dividends ex-div date to July to avoid having to pay it to the new shares. SO next one should be declared probably next week?
riskvsreward
03/11/2017
09:23
The July circular says that the new shares will be eligible for all future dividends and that the company will pay dividends quarterly, including November (6.1p for the current year). The section Risk Factors says in more than one place that dividends are not guaranteed. Usually these things are skipped, but maybe shouldn't be, in this case. I'd expect them to declare one very soon, or state why not. If they pass one (unlikely?) the share price drop would probably make this a strong buy, as it would signal that their big investors, or bankers were on their case. EDIT: they haven't acquired an income-producing asset since the fundraise, so dividend payment to the new shares would come right from capital!
jonwig
03/11/2017
07:59
I assumed they'd paid one, but yes - last XD 20/07, does look like one is overdue, with none even declared as yet. At last results in Sept they said divi target still the same, albeit not covered by EPRA EPS this year.
spectoacc
02/11/2017
20:34
Can't find an announcement. Maybe check out the fundraising - new shares probably wouldn't be eligible so they may have rescheduled?
jonwig
02/11/2017
20:06
Isn't a quarterly dividend overdue? Last one was in July and it paid a dividend in October for the previous two years.
riskvsreward
20/10/2017
09:51
The question now is have the directors tempered their expansion ambitions? That's neither likely nor desirable. There's an interesting interim results presentation on Empiric's web site hxxps://www.empiric.co.uk/investor-information/company-documents As at 30 June 2017 ESP had 6,883 'beds' in operation. ESP currently own assets which when fully developed will comprise 9,449 'beds'. I'd expect that to take rental income to over £83m (cp £24m for last half year). They still have about £50m+ from the fund raising which, when levered, could give them purchasing power of £100m. If you look at their Pipeline in the presentation, they pretty much have that spend identified. That should add around 1,200 beds, taking rental income to maybe £93m. ESP are pretty much programmed to double in size from here.
stemis
20/10/2017
09:05
Agree, the cash from the sale will help with the short term hole, when the forward funded projects come online next September things should look much better .... for now I've topped up at £1 & 98p and now sitting tight. As you say, a shot across the bow for the directors !
hannath
20/10/2017
08:59
I sold several months ago as I saw better opportunities elsewhere and it was pretty clear, despite what the directors were saying, that the dividend was not covered. I certainly didn't expect such a fall in the share price. The question now is have the directors tempered their expansion ambitions? Does the Scottish sale mark a watershed? I guess this is developing into a situation where you have to ask whether you trust the management. Unfortunately I have never had any contact with them although I would be interested in seeing them present should they reach out to a wider audience. So I would say the jury is still out - let's see what they do next...
jombaston
20/10/2017
08:38
tidcome: Well said
a1n1d1y1
19/10/2017
13:14
Belgraviaboy: That is an interesting point you make about the constituents of the operational costs. I had previously guessed the share price would dip to 95p and then settle at a fair value of 100p, and then slowly climb as the costs were reduced. But I agree with you that there seems to be little opportunity for a quick cut in the costs. Having sold out at 108p I was intending to buy in again around 95p,but now I am going to wait until the future of the dividend is clearer. I want my 6% dividend from income, not capital!
tidcombe
19/10/2017
09:59
Always interesting to flick through the annual report and see how far you have to dig to find the important 'post spin' numbers. Take the ESP annual report - not until page 107 do you discover the make up of operational costs: cleaning/repairs/utilities/technology/site management/direct site costs. Are these inflated because they are in the development phase or should they be considered ongoing? ESP would like you to believe the former - I think the latter.
belgraviaboy
19/10/2017
09:43
"you are being paid back your own money" Operates in similar fashion to Development Securities (now U and I Group)
jl9
19/10/2017
09:32
This is all about the operational & admin costs - look at the true yield after these have been subtracted - nothing like 6%. So ignore the yield, you are being paid back your own money, much better clean property yields available elsewhere. I see these dropping further....
belgraviaboy
19/10/2017
09:14
Well this is not what we expected when we bought this share looking for a safe yield and low volatility. Something distinctly worrying in this accelerating fall.
andyj
19/10/2017
09:00
Chart has the Manneken Pis formation. Is that buy, sell, or get an umbrella?
jonwig
Chat Pages: 146  145  144  143  142  141  140  139  138  137  136  135  Older
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P:31 V: D:20171118 21:44:35