First Property Share Discussion Threads

[catsick] 13/6/2018 13:51

Surprisingly it has been pretty easy to buy a bunch of these today close to the bid side, I have no idea why but It seems to me like a gift !

[catsick] 13/6/2018 07:17

Actually I was a bit off on my calculation, the other parties paid 33m Euro for 76.6% of the company, giving the fpo share a value of 10.08m euro so a 9m euro value creation or around 8p on the adjusted nav

[catsick] 13/6/2018 07:06

Managed to get a few in on the open at 48 but could only get a quote in 10k , only a matter of time before Simon thompson realizes what a great deal this is, Ben does great deals year after year and this still trades at a massive discount....

[catsick] 13/6/2018 06:35

What a great deal, I saw the little nugget about this new park in the accounts, seems like they have made a pretty instant 7 mio eur of profit on this deal at a minimum by owning 24percent of equity others injected 33m of cash into, plus I guess 80m euro of new aum with fees to come, everyone seems to complain about what Ben pays himself, but these are fantastic deals he is doing making very real value for shareholders, this deal alone will add 6p min to NAV

[fallenstar] 10/6/2018 07:44

On the conference call I asked if we had booked any fee or profit from the UK office mandate fprop fund as this is a profit share and not a fee based mandate, and I was told we had no profits from this as the stamp duty paid on the properties mops up any profit in the early stages.
So we will get profits in for this but they will be delayed compared with a fee based fund.
I am happy to add more here on weekness as the results we good and the profits will roll in later for the increase in Aum.

[catsick] 09/6/2018 02:32

Ben talking about fpo and brexit on cnbchttps://www.cnbc.com/video/2018/06/08/first-property-ceo-government-has-handled-brexit-talks-really-badly.html

[catsick] 09/6/2018 02:22

I think the results are bang in line with expectations and the group continues to do great deals with their own cash funds, the nugget of info for me was they bought for 900k gbp companies in default with 47m in loans against an office park with 50,000 sqm of space, this is a tiny cash amount to pay for a huge amount of upside for non recourse highly leveraged assets. I think the company is worth easily 53p for the reit part and another 20p for the asset management business, I hope the company continues to buy back shares at these levels.

[chimers] 08/6/2018 10:32

Flat as a witches tit.
IDS.

[tyranosaurus] 08/6/2018 09:40

The market has spoken.
Results not as good as expected.
NAV good
Profit and dividend stagnating.

[blobby] 08/6/2018 09:07

NAV per share up by 11%.

I can live with that.

[fanshaw] 08/6/2018 08:26

Cheshire Man

Expenses up 11.5%

Dividend up 2.6%

Says it all.

[blobby] 08/6/2018 07:37

· Group profit before tax of £9.23 million (2017: £9.14 million);

· Total assets under management up 31% to £626 million (2017: £477 million);

· Third party assets under management up 45% to £454 million (2017: £313 million);

· Adjusted NAV per share increased by 11% to 53.07 pence (2017: 47.64 pence);

· Final dividend increased by 2.6% to 1.18 pence per share (2017: 1.15 pence per share).

Good results again, although at the lower end of my expectations. Dividend increase is 0 in real terms.

[cheshire man] 08/6/2018 06:28

Well you've got your wish about the divi. in this morning's PR fanshaw :-)

Final dividend increased by 2.6% to 1.18 pence per share (2017: 1.15 pence per share).

[fanshaw] 07/6/2018 13:42

Perhaps if Ben Habib & Directors plus Staff where more realistic in the amount

they pay themselves in relation to size of company the dividend could be improved

plus a possible increase in share price for rest of shareholders.

[mortimer7] 05/6/2018 07:45

Results for the year to 31 March are scheduled to be announced on 8 June 2018.

[speedsgh] 29/5/2018 12:33

Retains No.1 ranking versus MSCI CEE Benchmark - HTTPS://www.investegate.co.uk/first-property-group--fpo-/rns/retains-no-1-ranking-versus-msci-cee-benchmark/201805290700163301P/

First Property Group plc (AIM: FPO), the property fund manager and investor with operations in the UK and Central Europe, is pleased to announce that it has retained its position as the best performing fund manager versus MSCI's Central and Eastern European (CEE) Benchmark, now for the twelve years to 31 December 2017. First Property is also the best performing fund manager over the annualised periods from the commencement of its operations in Poland in 2005 to the end of each of the years from 31 December 2008.

MSCI is a leading provider of research-based indexes and analytics. Performance is determined strictly in accordance with MSCI's globally defined data standards and performance measurement procedures, and is based upon independently verified direct real estate investment performance.

[blobby] 08/5/2018 13:11

catsick,

I'm not sure about treading water but I'm enjoying the rise. Property shares seem OK at the moment (e.g. BLND). FPO may continue to be a bargain it terms of NAV and earnings but it continues to make steady progress which is ideal in my view.

[catsick] 08/5/2018 11:53

Yes nice run up today on decent volume, finally breaking out after a years treading water ....

[bigboyblue] 05/5/2018 07:11

A favourable write up in today's Telegraph (Money section) in James Bartholomew's 'Diary of a private investor' column. He has recently increased his stake citing the company's 'persistent record of achievement'.

[cheshire man] 03/5/2018 10:58

Nice move up today I see :-)

[catsick] 27/4/2018 09:42

Yes and simon is copying my comment re the asset management is thrown in as a free gift ... which I am happy to see !

[speedsgh] 25/4/2018 11:27

New update on FPO today by Simon Thompson (Investors Chronicle). Reiterates BUY recommendation with 65p TP.

HTTPS://www.investorschronicle.co.uk/comment/2018/04/25/a-six-timer-of-small-cap-plays/

[fanshaw] 18/4/2018 11:18

Think this company needs to decide what it is, A Property Company or

a Investment Trust until then the market is undecided how to value them

correctly.

[cheshire man] 16/4/2018 08:18

Yes agree catsick happy to hold :-)

[catsick] 16/4/2018 08:02

They will be hitting 1bn usd of aum soon , which for an asset management company valued as a free add on to their investments is nuts