Empiric Student Property Share Discussion Threads

[the shuffle man] 31/10/2022 11:25

All sounds great and back on track. I remember when they floated they were targeting a dividend yield of 5% to be covered by earnings. Now they are fully occupied the EPS do not cover a 5% yield so how were they going to achieve this. Have their costs gone up a lot ?

How does the increase in interest rates affect the valuation of their properties. Are these likely to come down ?

TIA

[makinbuks] 31/10/2022 10:50

Not sure the article you refer to but I agree its good news not only that another sale is agreed above BV but that further sales are also under offer

[stevegrass777] 31/10/2022 08:45

Oh and where is that guy that did a massive article stating how the NAV was way out based on pandemic income!
I called him out for being wrong at the time and didn't agree at all with how he valued the properties.
Guess what, just sold another one above book value not well bellow like your article implied...

[stevegrass777] 31/10/2022 08:30

We Are Full!
Great news, sale of none core at above book, just shows book value is spot on or conservatively done.
Dividend is good (especially if you picked some of these up on the cheap during lock down)
Good news.

[epo001] 24/8/2022 11:20

Hadn't thought of that. In my student days living in college we'd have thought nothing of putting the oven on full and leaving the door open to warm up the kitchen, because we never saw a bill.

Going forward (energy prices are never coming down, don't kid yourselves) some means of passing on costs to students is necessary. It will come down to microwave and kettle in each room and no shared kitchen

[okosling] 24/8/2022 10:48

I've held ESP for a couple of years but haven't posted here for a while. I had some concern whether they may be exposed to rising gas prices and unable to pass on the cost to students, as rents will already be fixed for this academic year, so no chance to increase until Sept 2023. I therefore considered selling some. However, I was pleased to find that my fears are unfounded: the recent results announcement says they have hedged energy costs until Q3 2024. A good chunk of their borrowing is also at fixed rates. So I continue to hold.

[makinbuks] 11/8/2022 10:22

Astonished at the rise in NAV, less so at the occupancy and income progress. Excellent

[stevegrass777] 11/8/2022 08:31

Results look really good,Progress on all fronts.

[emptyglass] 04/8/2022 18:51

Given the small company size plus persistent discount hopefully the new CFO has been brought in to take the company private close to NAV. It makes sense.

[tradez4dayz] 04/8/2022 14:19

Interesting new CFO, the RDI noticeboard isnt kind to him tho

[emptyglass] 31/5/2022 17:49

Story also in the FT : Singapore’s sovereign wealth fund swoops for £3.3bn UK student housing deal

[shauney2] 31/5/2022 08:49

Probably thishtTps://nz.finance.yahoo.com/news/brookfield-sell-student-housing-unit-081936639.html

[spangle93] 31/5/2022 07:57

I don't suppose it's people buying to be on the register for the dividend, when the gain is much greater than the distribution.

Wonder what's caused the interest - is there a suspicion it might go the way of DIGS?

[panshanger1] 30/5/2022 17:18

Decent strength today

[makinbuks] 24/5/2022 11:18

Agreed, great shame that Lynne Fennah is leaving

[stevegrass777] 24/5/2022 10:21

Also great news about the dividend and dividend policy today.
Seems a sensible and rewarding approach.

[panshanger1] 24/5/2022 09:44

Solid update with encouraging occupancy levels towards the upper end of 85-95% range

[skinny] 12/4/2022 09:47

RBC Capital Markets Outperform 88.80p 0.00p 110.00p Reiteration

[makinbuks] 03/3/2022 12:31

Which is £1.07, 21% higher. And in the meantime 2.8% yield. The big downside to me was the amount of CAPEX going in to fire measures (£37m) and uncertainty around recovery from developers. Interesting that they can still achieve sales above NAV with that uncertainty over liability

[stevegrass777] 03/3/2022 09:51

." W e are continuing to make further non-core disposals, with nine assets sold to date for GBP44.6 million and above book value,"
This is a sign book value is cautious and not over pricing the assets, great to see.
Also bookings coming back to pre pandemic levels is another nice indicator.
Chinese students returning is great news.
This should trade at book value now!

[makinbuks] 18/2/2022 10:34

Thats really significant I think.

[panshanger1] 17/2/2022 22:13

Times reporting today record numbers of Chinese students have applied to study in the uk in 2022-28,930

[panshanger1] 02/2/2022 14:00

Pretty good statement I would have thought but fairly light as already mentioned I note Peter Spillar over at Capital Gearing still has a sizeable position here last time I looked (always worth watching) IMO

[sphere25] 02/2/2022 10:20

Picked a few up here trying to play this breakout and trend higher up toward that psychological 100p lobbing level.

Very light on news today but that statement appears to be bullish enough to give this a kick back higher.

Noted a few buyers in size around 91p but put my stop under 90p if that is the wrong call. Wider market events could clearly throw things out of the window in the near term too.

All imo
DYOR