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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
  -0.40 -0.62% 64.10 63.30 63.70 67.70 62.50 67.70 951,645 16:35:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 70.9 54.8 9.1 7.1 386

Empiric Student Property Share Discussion Threads

Showing 3676 to 3696 of 4175 messages
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DateSubjectAuthorDiscuss
01/12/2017
19:17
Jonwig, thanks for the insight. It seems that Worldquant’s short is likely to be technical. They are in and out of their short positions with extreme frequency which is consistent with what a US Quant fund would have expertise in. Seems the clue is in the title!
chucko1
01/12/2017
15:30
That's some list @andyj! Sorry to hear. Times like these I remind myself of the old adage: "Warning: shares can go down as well as further down".
spectoacc
01/12/2017
14:47
Tbh at the end of an annus horriblis, having invested in CLLN, PFG, BT, CNA, ISAT and INTU, I could do without these supposedly safe investments dropping like a knife.
andyj
01/12/2017
10:57
Out of interest did any of you take shares in the placing at 109p. If so can you please message me off board.
horndean eagle
30/11/2017
15:16
chucko - thanks for your post. The short position is detailed here: Https://shorttracker.co.uk/company/GB00BLWDVR75/ It seems they do a lot of this, and it may well be entirely "technical", as you say. Apart from that, the lack of major holdings movements is noteworthy, as I said. It also seems BlackRock were periodically short last year! My interest in ESP is that I held them once, and am looking to buy again. They just aren't quite a clear upwards bet for me at the moment.
jonwig
30/11/2017
14:42
Actually, a new share register has just been published. A hedge fund called Worldquant has taken up a short position of over 3mm shares. The interesting thing about this is that this short was notified on 24th, just after the trading update. All other entries are dated as of November 17th, reflecting activity over the past few months or so. Worldquant, as far as I can tell, is staffed by supposedly smart PhDs out of the US, which is an anomaly since just about every other interested party is UK based. One might infer that there position is therefore entirely technical as I do not really think they would have much interest in speculating on the sorts of things that will increase/decrease ESP’s fundamental prospects. What I do not know is short position was established some time prior to its date of reporting and was a reaction to the initial sharp sell-off. Otherwise, I was interested in those holders who had entirely sold out of their positions. The reason I find this interesting is that they will have become true non-believers, and therefore exerted the greatest downwards pressure. The total amount of such sales amounts to about 10mm shares, the largest such seller accounting for 4.4mm. To me, this does not seem a very large amount given that there was an individual sale of 23mm shares a few months ago that caused a 2 to 3p move only. Therefore, one can deduce that just about all of the recent move is non-technical and reflects fundamental disquiet (which I share, but maybe not as much as others).
chucko1
30/11/2017
13:14
Thanks jonwig, still trying to decide whether to buy more...
andyj
30/11/2017
12:05
It's xd today (1.5p), which explains all the fall. Puzzled why there have been no holdings statements since the fundraising (except BlackRock, which seems to have taken a very few).
jonwig
30/11/2017
10:24
Continuing to tumble. A steady rush for the exit after the results or more bad news coming?
andyj
30/11/2017
06:34
SteMiS - A 91p target would be lower than the previous one (23 Nov) of 94p, but 'hold' would be logical at a share price of 89-90p.
jonwig
29/11/2017
13:01
You could ask them how many beds they expect to have when they've deployed their current capital (equity and debt).
stemis
29/11/2017
12:04
Small point maybe but their branding is dire at https://www.hellostudent.co.uk/. The website is bad and the flowers look more like a funeral parlor which given recent events might seem apt when I come to think of it. Given their target market they need to spend a tiny bit on branding. A few K should sort this out and help with enquiry rates.
loglorry1
29/11/2017
11:58
Shuffle - thanks for invitation. I do have a query: "Current LtV is 32.2% against target of 35-40%, and they have undrawn facilities. Since raising new equity would be problematic, does the company intend pursuing further expansion by taking on further debt as far as the upper limit they have indicated?" [Deliberately mild and civil wording. But I'd see further borrowing at this stage as a bad signal.]
jonwig
29/11/2017
11:30
I may get a chance to meet with the management next week and am compiling a list of questions to ask. Any specific questions you would like answering apart from the obvious. Thanks
the shuffle man
28/11/2017
14:39
A bit of an overreaction.
stemis
28/11/2017
14:35
think they can cut costs by removing fees to external consultants. yet for me it is also reliant on rents from Aberdeen and Cardiff which has always put me off this one. occupancy at 92% there could fall much more imo. substitution effect kicks in these local economies far more than in London ever will. I remain happy to be in digs despite the fact I love a discount to nav. the 15% here is not enough to compensate until NOI is above 70%. they have a lot of work to get there....
edwardt
28/11/2017
10:27
Horndean - thanks. Change in tp? (Was 94p, "reduce" on 23/11.)
jonwig
27/11/2017
11:11
I did go and look at one of their properties in Sheffield, Trippet Lane one if I recall correctly a couple of months ago. Have to say it was very high spec and nice, too nice from my student days, or my current kids, but that is not the type of market they are going for. It was just finishing development so not occupied and had missed the start of the academic year, but there was some moving of students who had taken it up to another Sheffield property which was now full and the lady who showed me around seemed convinced they would have language students from January. So to summarize, the property itself was impressive. I bought some at the recent fund raise so clearly not too happy as it was meant to be a safe holding and many other holders are in same position, i.e. this is not what they thought they were buying into. I have tried to research the new CFO but given her background in a private company there is not that much information. Basically the future of co depends on how credible she is, as the other two are no longer credible. Clearly they cannot issue any new shares but this is not necessarily bad - there will have to be focus to tighten the ship and the new issue share drag is removed. However the days of a premium are shot. Question is how have previous reits investment trusts gone forward in a similar situation now that no more issues can be on the horizon? I can imagine they will pay out the div declared going forward and the NAV will rise as the properties are impressive. They might trade a few to develop further but this will not help the discount short term.
jdepp5
27/11/2017
09:57
Something encouraging for a change! I don't use Facebook except to visit for research. This is the "Hello Student" page: Https://en-gb.facebook.com/pg/HelloStudentOfficial/reviews/ The reviews seem generally positive, and they repond to queries and criticisms. If there were general dissatisfaction with the customer experience, it would show up quickly on social media. (Or can they edit out bad reviews? I don't know, but it would be a bad idea.)
jonwig
27/11/2017
09:52
@ joepublic - quite possibly! This is a quote Stemis gave: "The Company is targeting a dividend of 5.0 pence per Share for the year ending 31 December 2018(1) . The Board expects the dividend for the year ending 31 December 2018 to be substantially covered by adjusted EPRA earnings and fully covered by the year ending 31 December 2019." The underlining is mine, and you use the word "targeted". I think a far better fallback would have been for the board to have set no public targets (it's a strong word in investorspeak - miss it and you've a profit warning!) but said they would pay a fully covered PID (~4.5p now) but based on actual rents received until the business had stabilised.
jonwig
26/11/2017
10:26
Negative comments for obvious reasons but are there not reasons for some optimism and reasonable investment prospects now. Current investors feeling well stung and somewhat mislead however: New CFO looks good - good experience base and seems to be providing meaningful analysis of the issues; Looking forward from 90p this targeted to provide divis of 7.5p over 15 months; valuation on a 15% discount; if things went wrong properties would seem quite readily saleable so limited downside. Is this a case where the directors were lacking financial skills and previous CFO was not doing a good job. Reasonable new investment now ?
joepublic1
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