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 Shares Traded Last Trade
  0.10 0.12% 86.10 418,095 16:29:56
Bid Price Offer Price High Price Low Price Open Price
86.00 86.10 86.90 85.50 86.10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 55.97 29.20 4.84 17.8 519
Last Trade Time Trade Type Trade Size Trade Price Currency
17:56:51 O 24,008 86.047 GBX

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Date Time Title Posts
20/6/201810:18Relaxing Visa Rules for students -
26/4/201208:16Economics, Sentiment & Price2,939
11/9/200815:35Trading from Spain11

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Empiric Student Property Daily Update: Empiric Student Property Plc is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker ESP. The last closing price for Empiric Student Property was 86p.
Empiric Student Property Plc has a 4 week average price of 85p and a 12 week average price of 83.40p.
The 1 year high share price is 103p while the 1 year low share price is currently 80.10p.
There are currently 602,887,740 shares in issue and the average daily traded volume is 684,338 shares. The market capitalisation of Empiric Student Property Plc is £519,086,344.14.
mattphillips940: With most university's having returned I thought I would share my thoughts on occupancy for the 2021/22 academic year. By searching for planning permissions on local council websites it is possible to see the room makeup of Empirics buildings. This can be combined with the booking information on the Hello Student website. Currently rooms either display Sold out for room types with no remaining occupancy, Last few for room types with less than 3 available rooms and Available for everything else. Using this data occupancy for Sold out and "last few" rooms can be calculated. For Available rooms I have assumed an occupancy rate of 50%. Using the above data Empiric should have a current occupancy rate of 90% with a revenue occupancy of 92% In pre pandemic years an additional 4-5% occupancy has been achieved with January Semester lets. If the above is accurate and we dont see any further government restrictions we could see a 95% occupancy rate by January. Empiric has previously issued occupancy updates towards the end of October and start of November so that could be one to watch out for.
pyufak: I can't argue with what Berenberg is saying - which echoes a couple of posters above. Essentially at their price target of 100p; recent update is a bit zzz and risks turning both positive and negative so around 100p fair value in their eyes.
boonkoh: Not long to go till an update in NAV! 12th Aug?The smart investors have already cottoned on to the unjustified NAV discount, given the sustained buying over the past week. Just a pity we also have a seller who's determined to make that chart ascent as slow as possible!But all that doesn't matter, when the numbers are published, the market makers won't have enough shares to fulfil the demand at these price levels.
mattphillips940: Look at the property sold in exeter recently. purchased in 2016 for £8.02m sold for £11.1. Looking at the price per bed of that asset and NAV changes at Digs and Unite I wouldnt be surprised if NAV is 115-118p. It was 110.2p back in december 2019.
boonkoh: 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: 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."
donald pond: 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?
stevegrass777: 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.
makinbuks: You are quite right, and its no different in the magazine. share price 1020p, IFRS NAV 809p is a premium of 20%! I did have a very quick look at Unite earlier in the week, just wondering if the time was right to buy in but quickly concluded they were overpriced and I would be better adding to my ESP position. They are in very different markets. Several of my children have been in Unite accommodation and I'm far too Scottish to pay for ESP!
okosling: Unite results out this morning. Outlook statements very positive, referring to the increase in UCAS application numbers as mentioned by Maddox in post #1095. Also positive demographics: "The outlook for student numbers remains strong. Demographic growth is significant over the next decade, with the 18-year-old population returning to 2010's height by 2024 and continuing to grow strongly thereafter. This would imply demand for around 220,000 additional UK undergraduate places by 2030 at current participation rates." Also comments on UK government policy: "The UK Government's international education strategy is targeting growth in international student numbers to at least 600,000 by 2030, representing at least an additional 80,000 international students. In September 2019, the Government announced a new two-year post-study work visa for international students (three years for postgraduates), starting from the 2020/21 academic year. The change has already aided the UK's international competitiveness in the Higher Education sector, leading to significant growth in demand from China and India over the past two years. The Government is actively seeking to broaden the demand pool from international markets with opportunities for the UK to increase its market share of student arrivals from Africa and Asian countries, outside of China." It clearly bodes well for Empiric also, hence this morning's share price increase.
Empiric Student Property share price data is direct from the London Stock Exchange
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