Share Name Share Symbol Market Type Share ISIN Share Description
F&C Commercial Property Trust LSE:FCPT London Ordinary Share GG00B4ZPCJ00 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.20p -0.15% 134.60p 134.40p 135.00p 136.00p 134.00p 136.00p 1,165,367 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 64.8 93.4 11.6 11.6 1,075.88

F&C Commercial Property Share Discussion Threads

Showing 151 to 174 of 175 messages
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Net Asset Value - HTTPS:// The unaudited net asset value ('NAV') per share of the Group as at 31 March 2018 was 142.9 pence. This represents an increase of 1.2 per cent from the audited NAV per share as at 31 December 2017 of 141.2 pence and a NAV total return for the quarter of 2.3 per cent...
NAV update: Up 0.4% from June and 1.5% total return for the quarter. Lukewarm results but the premium was still at 6.5% at September 30th share price of 149.1p. Considering the recent price drop, it is now merely 0.9% if rounded generously. Still no new acquisitions, the Pulteney Street sale now dates back to December last year. Not saying that they should buy something at any cost, but we are still one horse down in the stables.
The HY report for 2017 is out: Http:// NAV 139.4p at June 30th, so a premium of 4.2% on that date. Last year's premium was 0.7% on June 30th 2016. So it is back to normal. Still no new acquisition since the sale of Pulteney Street in December 2016. Minor worry: "The void rate over the period has increased to 8.8 percent as a result of HSBC vacating Edinburgh Park." With no acquisition/sale, the report is mostly about collecting rent money. The borrowing facility with Barclays is still undrawn. There is no debt worry and the dividend is safe, although the cover is down to 80.6% from 87.0% before. This is due partly to the sale of Pulteney Street and the corresponding disappearance of rent there. Management fees reorganisation also seem to have brought down the cover a bit.
"Waiting for the next correction in commercial property and will likely pile-in again as a contrarian when the sector tanks." Agreed, a shake-out would press the reset button and again provide opportunities. I started the original CP+ thread back in Dec'08 under an appropriate title at that time. I see on the BLND thread that TEMPUS recommends a SELL; in the face of the well-received £300m buyback scheme announced this week!
@SkyShip You made me have a second look at FCPT, re: the premium and the yield, and stopped adding monthly to this one. Everything looks expensive these days, ITs are meant to trade at discounts. For the income component, I am now piling-up more on FHI, nothing fancy, this is about big caps (BAT, HSBC, Glaxo, etc.), income at a reasonable discount (for the units anyway, FHIU). FHI have also streamlined (no more bonds investment portfolio), so performance could improve soon with lower charges/expenses. The income sector and big caps are boring, but a pf needs some ballast to smooth the ride. FCPT can feed itself from its dividend in my portfolio now. Waiting for the next correction in commercial property and will likely pile-in again as a contrarian when the sector tanks.
vacendak - like yr 167 above. All a bit boring at the moment. Substantially reduced my activity since end May & most values stalled. Still H1'17 was better than anticipated, so a period of reflection not a bad idea. On the PE front bought back into NBPE, as posted on the PE thread.
NAV update as of June 30th, up by 1.5% from March. Premium down to "only" 4.23% on the NAV release date.
Darren - hate to disagree with a fellow property investor, however to my mind FCPT is a 100% SELL. # A 5.2% NAV PREMIUM! # A yield of just 4.1% # 12.7% of portfolio in Scotland - mostly in damaged Aberdeen # 33.7% of portfolio in London's West End - better than the City, but London values softening The stats and the chart (see link below) suggest very little upside; whilst clear downside. If you are set on having some property exposure (which I agree with) then strategically look for players with portfolios outside the over-valued London. The regions are still cheap - but avoid Scotland. Two to consider might be: # Palace Capital (PCA) @ 370p - 14% NAV discount; 5% Yield; great track record - see Investor Presentation # Ediston (EPIC) @ 111p - One of the new high-yielding investment REITs - 1% NAV premium; 4.95% Yield; investment managers acknowledged as one of the very best in the field
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Basically, if you are retired or about to retire and in search of income, the 0.5p per share per month (few trusts pay monthly divis) should be a no brainer. It is now covered 87% by rent income, an increase of 7% according to the latest video update recently posted on the F&C/FCPT website. Like many I do not like buying at premium, but I have made an exception for this one because I wanted a bit of property exposure. The Brexit bit is now factored in, it was a big shakedown just after the vote for sure. The AR prior to the referendum already mentioned that the trust was entering an income phase and that the wild share price growth based on property value was coming to an end. As the share price graphs now show, FCPT has recovered from the vote, but is not flying as high as it used to. I came in with a lump sum at around 145p before the referendum, then carried on drip-feeding monthly all the way down.. and all the way back-up. Pound averaging has worked wonders, so I am relatively happy. Still, I would have been better off putting that money in a generic global fund like FRCL or WTAN, even with the dividend included. Long term, if you want growth, go for Private Equity like everybody. :) FCPT is good quality, so a tad expensive (premium) but reliable for income. I would also expect it to weather the next market crash better than the rest. FCPT is pure property, there is no builders, land holding or other trust/funds in it. You can get the list of the buildings owned by the trust, and their address, in the AR and HY reports.
Tempted to get into this but not sure about premium. Any views on this longer term and effects of brexit?
NAV up, now trading at a 5% premium.
The above mentioned AR is out in its full PDF glory. Http:// The dividend cover goes up a bit, still not enough, but improving. All the indicators are green, even if not very strong, but things are definitely back to normal after the difficulties of valuing the properties in the wake of Brexit. FCPT is easily beaten by a bland FTSE tracker over the year though.
Results for the Year Ended 31 December 2016 - HTTP://
Nice jump by 4.7p today to heights not seen since months before Brexit.
NAV update today (gone up): FCPT is now officially trading at a slight premium, like in the days of old.
Just checked the website: The Q3 2016 factsheet is now available. Http:// No actual comment, just numbers and they do not look that great, nothing alarming though. Well, at least the dividend keeps coming regularly.
I wonder where the author got the NAV estimate that supposedly put FCPT at a premium again: Https:// We are due a factsheet/NAV update soon I assume. The last time was end of September and it was 132p. The share price is hovering about 136p at the moment.
Looks like after Questor's write up matey managed to off load over quarter of a million at 136p! Maybe I'm just a cynic!!!
Cashing in on a building in central London: Positive move compared to valuation, so good news. We should know soon where they are going to re-invest it. From the RNS, it is assumed away from Central London.
Getting close to be back above 140p.
Now making money out of this one when I include the dividends: The magic of investing monthly and re-investing the divi, on the way down followed by a rebound. I entered the game when FCPT was at a premium... and more or less when the share price started to go South even before Brexit.
Everything in my portfolio seems to be dropping these past few days because of the latest polls about Trump, except FCPT!
AN RNS about the latest NAV: At 132p, it is down from last time (June 30th: 134.1p) by 1.6%. Nothing terrible considering the buffeting taken by the sector lately. Good performance from the Midlands, biggest drag was from "rest of London". Oddly enough warehouses have been doing badly. The ungeared decrease was only 0.9%, a lesser fall than the IPD Index (3.6%). I wonder if the portfolio had gone up they would have mentioned an ungeared improvement which obviously would have been less than the geared value... :) The share price is still showing a slow but steady recovering trend. The gearing is up a bit at 20.7% (19.9% back in June).
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