Empiric Student Property Share Discussion Threads

[joe say] 14/8/2020 08:32

Not just the nature of current practice as you put it - but effectively a floor/minimum level as every management team argues that they are better than average - and therefore deserve awards above this level

Hence the ratcheting effect

[spangle93] 14/8/2020 08:14

I think most executive management now have 6 minimum and up to 12 months of remuneration post-departure built into their contracts, unless they depart as a result of a misdemeanour.

Sadly it's standard practice, and all part of the corporate greed. With few exceptions, executive directors are highly motivated to maximise their gains, supported by remuneration consultants who disseminate the nature of current practice

[chucko1] 13/8/2020 20:41

Remember that they are shareholders too. They will have considered the degree of further service they wanted from Attlee after his resignation, the Service Contract stating a Notice Period of 12 months.

I do not see a large degree of share options, although it seems their base salaries are pretty good. Nothing outsized, though.

[emptyglass] 13/8/2020 19:41

In the big scheme of things throwing share options over the board like confetti plus benefits at the same time as cancelling dividends versus more dignity at comparable companies was noted.
Irrespective of how things are handled Heads the directors win, tails the shareholders lose.
This is inequitable.

[chucko1] 13/8/2020 17:26

Sorry, emptyglass, but in the big scheme of things, I really could not give a stuff about that approx £350k if there is a significant greater good. After all the shenanigans of 2-3 years back, where Attlee was at the top table, it may serve well to allow a dignified exit. The new crowd appear to be handling things pretty well so far, in pretty trying circumstances so I would give them the benefit of doubt.

[emptyglass] 13/8/2020 16:20

I don't like the fact that Tim Attlee ex-CEO left on 30 June BUT his basic salary and contractual benefits amounting to £41,350 per month will be paid from 1 July 2020 until 17 March 2021 !!

[chucko1] 13/8/2020 13:11

Perhaps they thought that everyone understands this. I certainly do, so can reassess when a like for like is available to be released. But almost any comparison with last year is pointless - what I care about is actual bookings as everyone has some opinion or other about students taking up their places. For now, I anticipate an outcome significantly less negative than that currently implied by the share price.

[horndean eagle] 13/8/2020 10:42

AGreed. They are useless not flagging up uncertainty re students. Really don't do themselves any favours.

[nimbo1] 13/8/2020 10:07

Bought in here after reading the results - just can't see much more downside. people still want to live their lives - being at home is very dull for 20 year olds. no way virtual uni will upend actual uni. Who wants to miss all the fun!

[stevegrass777] 13/8/2020 09:28

You have a good point there okosling.
It's definitely difficult to compare based on the timing.
I feel esp will fair well on the bookings front.
Who wouldn't want a studio or en suite with covid knocking about.

[its the oxman] 13/8/2020 09:23

Overall as expected, short term reduction in nav. But plenty of scope for share price to recover as students return and newsflow steadily improves.

[okosling] 13/8/2020 08:59

The company seems to have seriously screwed up in this announcement today.
The key sentence is this one:
"Bookings of 65% for the 2020/21 academic year at 12 August, compared to 85% as at 19 August 2019".

Let me re-write this sentence to make it clearer:
In 2020, 1 day before A-level results day, we had bookings of 65%.
In 2019, 4 days after A-level results day, we had bookings of 85%.
No way can this be considered a meaningful like-for-like comparison.
Obviously bookings are higher just after A-level results than just before A-level results!

[stevegrass777] 13/8/2020 08:53

Results out, look better than expected to me.
Property valuation is down a bit, and they have some covid related losses etc.
But recovery looks to be on track, dividend is more than covered now its on stop lol.
But all in all I feel they are well positioned to keep these top class mainly studio flats and en suite accommodation pretty full.
I feel esp is doing far better than the market price has priced in.

[stevegrass777] 15/7/2020 09:10

Just trying to do a bit of exploring on the hello student website, not scientific at all, but I have visited a few of the accommodation links and quite a few are sold out, some say last few remaining, and some just say available now,
But from a quick guesstimate I reckon they are not doing as badly as the market reckons.

[chucko1] 14/7/2020 16:14

Maybe they haven't stopped! Still very cheap, but it now has competitors in the cheapness stakes, and I'll switch a few more there.

[stevegrass777] 14/7/2020 15:51

RNS looks like Shroders picked up some shares!

[chucko1] 13/7/2020 18:09

CWA - exactly the same for me. Bought in the low to mid 60s, but added significantly at 55-56p. They mainly got sold today. But still hold a core as very cheap. Patience required, but next week may boost further if OK.

[cwa1] 13/7/2020 15:44

FWIW, I've just flipped half the ones I mentioned previously that I had bought at 55p for a very nice short term gain. Will run the balance and see where they end up after the update. Fingers crossed...

[panshanger1] 13/7/2020 14:19

When is the update HE?

[horndean eagle] 13/7/2020 14:11

Looks like some large crosses today. Imagine short term overhang plaguing the shares has been cleared for now. Trading update should hopefully encourage more buying and a further re-rate.

[horndean eagle] 10/7/2020 15:21

UTG upgrade today. ESP update due next week. Hope at that point a bit of a re-rating kicks in. Discrepancy between the 2 is pretty stark and unwarranted.

[panshanger1] 10/7/2020 14:53

UTG and DIGS also both up nicely todayAny news ?

[rambutan2] 08/7/2020 12:35

Appears to have been a determined seller around for a few weeks now. Was good when I was picking up shares, but rather frustrating now! lol

[rambutan2] 08/7/2020 12:13

Yes encouraging, although only mentions UK undergraduates, which UTG have higher weighting towards. ESP has more international and postgraduates. However, we may be helped on the international front by Trump's clampdown in the States.

[rik shaw] 08/7/2020 07:28

Encouraging update from UTG this morning on the HE sector 20/21

'HE sector update

Most undergraduate applicants have now chosen their preferred University for 2020/21, following the 18 June deadline for accepting an offer. UCAS data showed a 1% increase in the number of applicants with an offer to start University this Autumn compared to 2019/20. This reflects a 3% increase in acceptances by UK 18-year olds as increased participation rates more than offset the impact of fewer young people in the population.

The number of students with a deferred start date was down 1% compared to 2019/20 as of 18 June, reflecting the clear desire of young people to attend University, weaker employment prospects and fewer gap year opportunities for school leavers.'