Empiric Student Property Share Discussion Threads

[daveofdevon] 30/6/2014 11:31

Did a trial order through Hargreaves just to test the water. At 9.00am they did not even have the company on their database. Now they do at least recognise it but refused to allow online dealing for 4k shares and refused again for 2k.

I refuse to go for a telephone deal with associated dealing costs so that's me done for the day. I share your conclusions Spob.

[spob] 30/6/2014 11:29

from the full prospectus

The Company intends to deploy the balance of Net Issue Proceeds by the end of 2014, employ leverage within six to nine months thereafter, and seek to grow the portfolio targeting 8,000-10,000 beds over the next few years.

There can be no assurance that any of the assets in legal negotiation, including the standing assets, the development, forward funded or any further pipeline assets will actually be acquired or completed or as to the terms of acquisition or completion. The use of leverage is conditional on full-scope AIFMD authorisation being obtained and the target of 8,000-10,000 beds depends on future capital raisings, neither of which can be assured.

[spob] 30/6/2014 11:23

I might buy some in the future if they trade 40% below NAV :)

[spob] 30/6/2014 11:21

Ok so only 85m raised

and total number of shares scaled back to 85m

fees are 3%

Therefore funds raised (83.3m) equals the minimum required to proceed with float


NAV per share = 83.3/85 = 98p


looks like a flop to me

[spob] 30/6/2014 11:03

Thats from the FULL Prospectus

[spob] 30/6/2014 11:02

Net Asset Value The Net Asset Value per Share at Admission is expected to
be 98 pence (assuming Gross Issue Proceeds of £150
million).

[spob] 30/6/2014 10:39

Prospectus RNS - 16 June





Full Prospectus

[jaws6] 30/6/2014 10:30

just saw you done it header ,Will help for info later.Thanks .

[spob] 30/6/2014 10:29

ITF - 13 May

[jaws6] 30/6/2014 10:29

you can add few in header if you like .
Wirral
Thanks

hxxp://www.espreit.co.uk/
www.investegate.co.uk/empiric-student-prop/rns/replacement--ipo--results-of-issue/201406261812256912K/

www.telegraph.co.uk/finance/newsbysector/constructionandproperty/10828101/Student-housing-REIT-to-raise-110m-in-IPO.html#source=refresh

[wirralowl] 30/6/2014 10:28

Some more info here:

[skinny] 30/6/2014 10:22

Buy Empiric Student Property when it floats this week to tap into demand for more upmarket student housing, Midas advised in the Mail on Sunday. The management team will use £80m of the flotation proceeds to buy 11 properties to add to its existing fully occupied housing. In the UK's 27 top university cities, 96% of non-first years have no access to purpose-built housing. Many are prepared to pay to be near city centres, including 300,000 international students. Investors can expect a 6% dividend yield in the first year and capital growth as rents rise and development properties come into use

[wirralowl] 30/6/2014 10:15

Company website:

Links to additional info / webcasts / analysis etc:

hxxp://www.espreit.co.uk/
www.investegate.co.uk/empiric-student-prop/rns/replacement--ipo--results-of-issue/201406261812256912K/

www.telegraph.co.uk/finance/newsbysector/constructionandproperty/10828101/Student-housing-REIT-to-raise-110m-in-IPO.html#source=refresh

Feb 2015 Interim presentation: hxxp://webcasting.brrmedia.co.uk/broadcast/54e7336a9db74c6805a37d9e

Sept 2015 Maiden Full Year Results Presentation (well worth a listen!)



October 2015: Excellent, detailed analysis on ESP's prospects from WheelieDealer, please see link below:



Dividends:

from October 2105 RNS

"The Company confirms an annual dividend target of at least 6 pence per Ordinary Share for the financial year commencing 1 July 2015. Thereafter, dividends are expected to grow by not less than the RPI inflation index.”

[briarberry] 26/4/2012 08:16

Federal Reserve chairman Ben Bernanke appeared to suggest a fresh round of stimulus for the world's biggest economy would be "very reckless" unless the recovery falters...

Asked why the Fed is not embarking on further stimulus given unemployment remains at 8.2pc and inflation close to 2pc, Mr Bernanke said "I guess - the question is, does it make sense to seek a higher inflation rate in order to achieve a slightly increased reduction - a slightly increased pace of reduction in the unemployment rate? The view of the committee is that that would be very reckless."

[briarberry] 16/4/2012 12:41

Spain, some new records...


April 13 – Bloomberg (Abigail Moses): "The cost of insuring against a Spanish default jumped to a record as Prime Minister Mariano Rajoy struggles to prevent the nation from becoming the fourth euro-region member to need a bailout. Credit-default swaps on Spain rose 17 basis points to 498 as of 4 p.m. in London, surpassing the previous all-time high closing price of 493... The contracts are up from 431 at the start of the month and 380 at the end of 2011, signaling a deterioration in investor perceptions of credit quality."

April 13 – Bloomberg (Charles Penty): "Spanish banks' borrowings from the European Central Bank jumped by almost 50% in March, reaching the most on record, after the ECB boosted its support for the region's lenders with more three-year loans. Average net borrowings by Spanish banks climbed to 227.6 billion euros ($300bn) last month from 152.4 billion euros in February... Lenders in the whole euro system took 361.7 billion euros..."


Giving rise to last weeks market volatility as some traders dreamt of more bailouts...


April 13 – Bloomberg (Mark Deen): "European Central Bank executive board member Benoit Coeure suggested that the bank could revive bond purchases to support Spain in the face of rising borrowing costs. 'We have a new government in Spain that has taken very strong deficit measures,' Coeure said... 'All this takes time. The political will is enormous. This is what leads me to say the market conditions are not justified... Will the ECB intervene? We have an instrument, the securities markets program, which hasn't been used recently but it still exists,' he said."

April 13 – Bloomberg (Jurjen van de Pol and Gabi Thesing): "European Central Bank Governing Council member Klaas Knot said officials are 'very far' from reviving the government-bond purchase program. 'I think that we are very far from that situation,' Knot said... 'The instrument hasn't been used for some time, but it's still there. I hope we never have to use it again.' Economists expect the ECB to revive its controversial Securities Markets Program as concerns about Spain reignite the sovereign debt crisis, a Bloomberg News survey shows... 'I don't see a good reason' for buying government bonds, Knot said. 'I think there has been an overreaction to the unfortunate communication surrounding Spain.'"

[briarberry] 29/3/2012 13:43

Great Britain : M4 Money Supply - a record drop...

The February broad money measure M4 posted a record 1.9 percent fall on the month for an annual growth rate of minus 3.4 percent

[briarberry] 27/3/2012 12:35

Maybe BenBanky is worried about California's debt

[briarberry] 27/3/2012 11:15

Daily turnover in global foreign-exchange markets likely reached $4.7 trillion on average in October 2011, but volumes likely dipped sharply toward the end of the year and into the start of 2012, BIS researcher Morton Bech wrote.




According to this, primary dealers account for almost 73% of foreign exchange trading volume...

Primary dealers purchase the vast majority of the U.S. Treasury securities (T-bills, T-notes, and T-bonds) sold at auction, and resell them to the public. Their activities extend well beyond the Treasury market, for example, according to the Wall Street Journal Europe (2/9/06 p. 20), all of the top ten dealers in the foreign exchange market are also primary dealers, and between them account for almost 73% of foreign exchange trading volume. Arguably, this group's members are the most influential and powerful non-governmental institutions in global financial markets. Group membership changes slowly, with the current list available from the New York Fed.

[briarberry] 27/3/2012 10:40

The total amount of outstanding student loan debt exceeded $ 1 trillion last week, and that number appears only set to grow as tuition rates continue to rise and federal and state funding for school drops.

[briarberry] 24/3/2012 21:21

Everyone's pointing at Portugal now...


John Mauldin

"The following is from a recent article in the Telegraph...

"'A report for the Kiel Institute for the World Economy said Portugal would have to run a primary budget surplus of over 11pc of GDP a year to prevent debt dynamics spiralling out of control, even in a benign scenario of 2pc annual growth.

"'Portugal's debt is unsustainable. That is the only possible conclusion,' said David Bencek, the co-author, warning that no country can achieve a primary budget surplus above 5pc for long. 'We won't know what the trigger will be, but once there is a decision on Greece people are going to start looking closely and realize that Portugal is the same position as Greece was a year ago.'"

...

"Sadly, that article is exactly right. Portugal is marching down the exact same road that Greece went down. The yield on 5-year Portuguese bonds is now up to an all-time record 19.8 percent. A year ago, the yield on those bonds was only about 6 percent. This is the same thing that happened to Greece. A year ago, the yield on 5-year Greek bonds was about 12 percent. Now the yield on those bonds is more than 50 percent."

(Portugese 5 year closed on Friday at 15.5% according to Bloomers)

[briarberry] 24/3/2012 19:57

so what's to stop the next property bubble...


UK mortgage regulation - FT Blogs - Claire Jones

the Financial Policy Committee, the Bank of England body charged with safeguarding stability, today resisted recommending that it be given the power to limit borrowing by would-be homeowners as part of its toolkit to stave off future financial crises.

But the problem is that the evidence suggests limits on loan to value, or loan to income, ratios for mortgages are by far the most effective tools in preventing financial crises.