Foxtons Share Discussion Threads

[porsche1945] 02/2/2022 13:52

This is going to about 18p. Be warned. That’s lower support, there is abso nothing to hold this up, rising interest rates parabolic inflation much higher direct income taxes from April and energy costs doubling, housing market is going to be stressed and UK dead cert for a recession, it writes itself. This has no income and no growth. Plus this is now a really pxss poor company, management want stringing up, its been a pigs trough for them while shareholders have been assfxcked, was a dividend play when it was up around 2 quid but I’m not sure it has any value now, a load of rented premises and some idiots driving around London in Foxtons mini’s? You’d be better off buying google Tesla or bitcoin than this crxp.

[topazfrenzy] 01/2/2022 19:08

When the paint dries we may well see fireworks lol

[ny boy] 01/2/2022 14:17

Like watching paint dry but maybe life in the old dog yet!

[stupmy] 01/2/2022 09:47

SP sat at 42p now. If that pulls back and I'm around to see it, I'll add one more time. Then hope for a recovery. although I see 51-53 as a relatively near term price target, I think the share price could move a fair bit higher than that. If we get to the 51/53 p decision point, I'll look more carefully at what the TA side of life suggests as possible after that.

[tole] 31/1/2022 19:57

https://masterinvestor.co.uk/equities/small-cap-catch-up-featuring-air-rwi-and-foxt/Foxtons Group (LON:FOXT) – undervaluedThe performance of the shares of this estate agency group has been a disappointment to me since I profiled the company last summer.However, the 2021 year-end Trading Update issued last Thursday was a positive one.The group delivered a much-improved performance, with revenues across all of its business segments for the period, well ahead of the prior year and 2019.It reflected organic market share growth, the contribution from acquired lettings businesses and improved market conditions.The finals, which will be released on 2 March, could show a 42% uplift in revenue to around £133m, while its operating profit of some £7m will prove to be at the top end of market expectations.The shares, which collapsed within days of my profile, closed at just 40p on Friday night, so they have still got some upside to work at to get back up to my profile price, and even further to hope in hitting my price objective.I am not giving up hope yet – this is a cracking little operation but it has lousy coverage in both the stockmarket and the financial media – that needs to change if shareholders are seeking proper valuation.

[yorked] 31/1/2022 15:56

The rental market in London has certainly improved, and the back-to-office drive will also help to push up the rents, and FOXT have already seen a improved rental market as it said in the update:

"Looking at the year ahead, the Group expects a further improvement in adjusted operating profit, supported by the profit contribution from the D&G lettings business, increasing rental levels in the London residential market and the implementation of improved digital marketing capabilities."

[stupmy] 31/1/2022 12:36

yorked: I was working along the same lines i.e. that wider market considerations were weighing the share price here, but as topazfreny's article and others I've read suggest that the rental market is strong for the moment and likely to remain strong for a sensible period. If this really is the case and not late reporting of something that's already over (I don't believe that to be the case) then at some point the share price here should move to the upside. From a TA perspective I see 51-53 as very achievable should the general market atmosphere turn somewhat more risk on

[topazfrenzy] 27/1/2022 15:51

London rents soaring again:

A year ago, London buy-to-let landlords were grappling with 30pc rent drops and a desert of empty properties as lockdown triggered an exodus to the suburbs.

But now, hit by the return to the office and an acute shortage of supply, the market has become a Wild West of bidding wars.

Price jumps of 48pc, tenants paying £90,000 in rent up front and rental deals inked within seven minutes of listing are common.

Between October and December, Greater London recorded the fastest increase in asking rents in the country. Prices rose by 6.1pc in just three months to hit a new record high of £2,142 per month, according to property website Rightmove. In central London, the three-month increase was 9.8pc.

These soaring figures mean that the collapse in rents at the start of the pandemic have been reversed, with prices now 3pc higher than at the beginning of 2020.

At the end of the summer, workers returned to offices, renters needed to be closer to their workplaces, students went back to universities and corporate relocations kickstarted again. But soon there were no homes for them to move to.

The supply of rental homes in Tube Zones 1, 2 and 3 in November was down 71pc, 72pc and 61pc year-on-year respectively, according to data from Hamptons estate agents. Meanwhile, tenant applicant numbers were up by 19pc, 12pc and 18pc.

Oliver Slogett-Taylor, of Savills estate agents in south-west London, said: “Landlords are in a position of power now.”

[yorked] 27/1/2022 14:57

Stupmy, I don't think you have made a mistake! The update tells us that the results will be at the upper end of expectation and dividends will be reinstated in March.

It is just that the market is now in the grip of fears, possible stock market crash, prolonged Covid pandemic & supply chain bottlenecks, rising inflation & inevitable rate hike, as well as potential conflict in Ukraine......

[stupmy] 27/1/2022 08:13

I hope I'm not making a horrible mistake here, but I've added again. Either there's something I'm not seeing or the market is asleep.

[stupmy] 27/1/2022 07:15

Well, this mornings trading update is a relief. It feels as if it's been a long time coming. Fingers crossed the market responds well to the RNS.

[indiestu] 24/1/2022 19:12

I'd be happy with 60.

[topazfrenzy] 24/1/2022 14:49

What price do you think a bid might be forthcoming? 80p a share?

[topazfrenzy] 24/1/2022 13:51

I think this will go to PE before long

I added on this big dip

GLA

[topazfrenzy] 24/1/2022 13:51

Platinum Equity (same as Platinum Investment Group which already is listed as having a 10% stake in Foxtons?) are buying property stuff ..

Today in the property press:

'Bowmark Capital, the mid-market private equity firm, has signed a binding agreement to sell Leaders Romans Group (‘LRG’) to Platinum Equity.'

hxxps://propertyindustryeye.com/eye-newsflash-equity-firm-agrees-to-sell-leaders-romans-group/

[indiestu] 22/1/2022 12:32

Would mind to cut and paste the opinion piece? I'm too tight to pay subscriptions. Thanks.

[indiestu] 21/1/2022 17:22

Stumpy. Do you have one of those flying rockets?

[stupmy] 21/1/2022 17:14

Whatever it is, it's been a long time coming, but it has shown the promise of quite a rapid rerate. Cue our resident red thumber.

[indiestu] 21/1/2022 16:29

It could be a supply demand imbalance in the London lettings market.

[yorked] 21/1/2022 16:23

It could be the Private Equity or Hedge Funds from across the pond as the share price started the move after 3pm.

[topazfrenzy] 21/1/2022 16:19

Definitely buying going on in the background ..

[indiestu] 21/1/2022 15:28

Ha ha. Suckers! Don't get shaken out of this one.

[topazfrenzy] 21/1/2022 12:43

Down it goes again lol!

[stupmy] 21/1/2022 10:29

I hope so, I've picked up quite a few now. It is starting to look more positive.