Empiric Student Property Share Discussion Threads

[panshanger1] 21/7/2021 10:30

New 52 week high @94

[boonkoh] 16/7/2021 15:51

If we assume a modest 5% increase in NTAV since Dec20, that would be 110p. At a 9% premium, that would be 120p a share.A good 30% upside potential from the current share price... And this from a stodgy REIT.

[boonkoh] 16/7/2021 13:57

Digs offer now in. 19% premium to NTAV of 31Mar21 but 9% premium to 30Jun21 NTAV estimate.Interesting that GCP had an almost 10% increase in NTAV in just 3 months....!

[boonkoh] 12/7/2021 13:06

Well, a bit of a breakthrough now for the price. Nothing stopping going 100p+. Discount to NAV currently 15% when it really should be trading closer to 0%. Or even premium, like GCP.

[jonwig] 11/7/2021 07:04

FT:

The world’s biggest commercial property landlord is shuffling its $378bn real estate deck.

Two moves by Blackstone — the sale of BNY Mellon’s London office in St Paul’s to Italian insurer Generali for £465m, sealed this week according to people familiar with the deal, and an approach to buy student housing operator GCP Student Living — are a sign of how landlords are repositioning their portfolios as the pandemic accelerates structural trends.

Covid-19 has hastened the decline of two key commercial property sectors — retail and offices — and prompted landlords to pile into alternatives they believe will fare better.

Top of their shopping list are: warehouses, supported by the ecommerce boom; rental flats and student housing, made attractive by home shortages and growing student populations across Europe; and life sciences campuses, buoyed by huge investment in research and development.

“These are megatrends which have . . . been accelerated by the pandemic,” said James Seppala, head of real estate in Europe at Blackstone.
So it won't just be DIGS.
NAV here 105p at 31/12/20. Should be plenty left to go for.
(Not a holder.)

[panshanger1] 05/7/2021 17:58

Yes Might have further to run here - nice finish at DIGS

[boonkoh] 05/7/2021 15:06

Well... Gcp trading above NAV per share (Jun20). Even if we take a 10% increase over the year.Whereas Empiric trading a discount to NAV. Should really be in the 110p to 115p range IMO. At the very least 100p and above.

[boonkoh] 05/7/2021 14:18

Thanks! Would be interesting to see at what price and price to NAV.This sounds encouraging for a read across to ESP... "the Board is anticipating a material increase in its property valuation for the period to 30 June 2021."

[rik shaw] 05/7/2021 09:03

See RNS for DIGS.

[panshanger1] 05/7/2021 09:02

Check over at DIGS

[boonkoh] 05/7/2021 09:01

Surprising rise today. Anyone know of any news?

[epo001] 03/7/2021 19:05

40% and 60% of what?

[donald pond] 03/7/2021 08:36

My back of an envelope calculations show that since October Lows ESP has put on about 60% while DIGS is closer to 40%. I wonder whether being conservative in valuations will come back to haunt DIGS?

[panshanger1] 03/7/2021 08:34

Interims 12/8

[panshanger1] 03/7/2021 08:32

Interesting developments over at DIGS Also of note 'is expecting a material increase in its property valuation'

[boonkoh] 07/6/2021 12:26

Dividends: they'll only confirm once the booking season for 21/22 is over, so I expect an update towards Aug-Oct.NAV: no reason why if shouldn't go up at least 5% this FY. Residential is up about 10%. Not like for like but the alternative to student accommodation is residential accommodation. So if that is going up in rent or less availability, then Empiric can put up its pricing. Also the increase in UCAS numbers this year will put further pressure on shortage of student housing, which can only benefit Empiric.The other trend is Chinese students now not being welcomed in USA or Australia, will want to come to UK. Also the visa rules are now relaxed, so easier for them to stay after studies and work and live here.

[makinbuks] 07/6/2021 09:49

Looks like more asset disposals to come, encouraging that they are ahead of NAV but slightly suspicious they don't say by how much

[stevegrass777] 07/6/2021 09:19

Update is OK, obviously bookings will accelerate as the lock down starts to lift, and I suppose the vaccine rollout to the younger ones will help bookings.
Sale of Exeter (don't know what it was on the books at) but residential property does seem to be going up fast certainly where I live it is, ESP properties seem like they would convert into residential rather easily.
All in all esp are making progress on recovery and that is good to see.
Hopefully more progress on bookings in the next update/later on in the year.

[panshanger1] 07/6/2021 08:54

No news on dividend

[boonkoh] 07/6/2021 08:50

Encouraging. Recent sale gives more confidence to NAV, at least the same as last time or slightly higher.Key is bookings for 21/22 academic year. Not good that the pace is behind pre covid, it understandable. Students have been scared of stories over the past year, and delaying booking till last minute. Fundamentally if student numbers are growing, then there's never enough student accommodation. So squeaky bum time but should come good by end July in terms of occupancy rates.

[mattphillips940] 25/5/2021 23:26

Also 1.2 Million shares in GCP Student and 5 million shares of unite sold at the same time. Shares in Empiric and Digs down because of limited liquidity at this time of day but should recover under normal volume. Not sure if any underlying reason for the sale or if sales are related and just a biggish investor rotating into something else?

[boonkoh] 25/5/2021 20:45

Someone was keen to offload 1.5m of shares at a big discount!

[spangle93] 12/5/2021 09:06

Nice to see a recovery in the student accommodation sector

Any ideas what Black Rock is doing? I can't follow the recent holdings accouncements

[panshanger1] 05/4/2021 08:53

Missed that on Thursday Berenberg upgraded to buy from hold with 100 pence target

[panshanger1] 01/4/2021 09:59

Decent volume going through too