GCP Student Living Share Chat (DIGS)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
GCP Student Living	LSE:DIGS	London	Ordinary Share	GB00B8460Z43	ORD 1P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-0.60p	-0.40%	148.60p	148.20p	148.60p	149.20p	147.80p	149.20p	135,594	12:02:21

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Real Estate Investment Trusts	28.6	23.5	8.1	18.4	572.21

GCP Student Living Share Discussion Threads

Showing 101 to 125 of 125 messages

Chat Pages: 5 4 3 2 1

Date	Subject	Author	Discuss
31/5/2018 07:36	New Edison research note issued. Summary: GCP Student Living (DIGS) REIT provides exposure to the specialist purpose-built student accommodation real estate sector, with a focus on London (95% of the investment portfolio value). The sector benefits from a positive demand-supply balance and good levels of rental growth, while being much less exposed to economic-led cycles than mainstream commercial real estate. With a growing student population and competing demands for space, the supply shortage in London is particularly acute. DIGS aims for regular sustainable dividends with RPI-inflation linked characteristics and modest capital appreciation. Shareholder returns since the IPO are well ahead of the 8–10% long-term target.	jonwig	Read Full Thread Reply
22/3/2018 10:39	Jonwig - Yes, there's an element of that in both cases I guess. Just interesting. riverman77 - operational efficiencies - yes, clearly (which as an ESP shareholders gives hope the gap will be closed). Supply/demand inbalance - well that has to manifest itself in higher rents, which is the point I made, and/or occupancy. ESP has issues with particular specific locations, hopefully being addressed, whilst DIGS claims fully let (although doesn't define that, I'd be surprised if its 100% occupancy over the period, ESP use 97% occupancy as 'fully let')	stemis	Read Full Thread Reply
22/3/2018 10:30	Aside from the greater operational efficiencies, the key point for me is that DIGS focuses on areas where there is clear demand/supply imbalance (ie mainly London) in contrast to some towns where there seems to be a glut of new student buildings.	riverman77	Read Full Thread Reply
22/3/2018 10:18	SteMiS - on point (2), I think there was a new unoccupied development and maybe cash drag from a funraising. Check - yes, they refer to it in a number of places. On points (1) and (3) I haven't a quick, simple answer.	jonwig	Read Full Thread Reply
22/3/2018 10:06	Since you mention Empiric... I do follow DIGS are an interesting comparator to Empiric. I'm struck by two things initially. 1. How little DIGS spend on property operating expenses. Gross profit was 77.7% compared to 56.6% in Empiric (2019 target - 70%). It could be due to DIGS charging higher rents. They'd have to be 34% higher to close the gap between 70% and 77.7%, although I imagine individual costs are higher in London. 2. A lot of attention is paid in Empiric as to when the dividend will be covered by rental profits (i.e excluding revaluation surpluses) however I notice that DIGS dividend isn't covered by rental profits either. 3. Both seem to have similar administration costs - 20.9% of rent in DIGS and 21.8% in ESP (H2). However that seems slightly out of kilter with point 1. If rents were higher then I'd expect DIGS admin cost % to be correspondingly lower...	stemis	Read Full Thread Reply
22/3/2018 08:47	I think there is some contagion from the issues facing the Empiric student fund. This was due to operational failings and entirely unrelated to DIGS which looks pretty solid, so I see this as a good buying opportunity, if only I had spare funds.	riverman77	Read Full Thread Reply
22/3/2018 07:25	HY report, NAV 146.1p. Strong results. Strange to see a discount! Https://www.investegate.co.uk/gcp-student-living--digs-/prn/half-year-report/20180322070000P13A1/	jonwig	Read Full Thread Reply
05/2/2018 06:51	"The number of foreign students applying to British universities has hit a high, despite warnings about the impact of the Brexit vote on higher education. More than 100,000 EU and overseas candidates have applied to take up places this autumn, the first official figures for the year show today. " Https://www.thetimes.co.uk/edition/news/foreign-students-apply-to-uk-in-record-numbers-3msxsff8z	jonwig	Read Full Thread Reply
11/12/2017 12:09	Probably a more pertinent ratio is the amount they paid per room compared to the rental per room. However, the latter would be hard to get as each accommodation block has different room types with different rents. £160k a room isn't too bad. If the average weekly rent is say £230 then that is £12k for a gross yield of 7.5%. However, this is before costs. hxxps://www.scape.com/en-uk/student-accommodation/podium#rooms	trytotakeiteasy	Read Full Thread Reply
11/12/2017 09:15	Actually, yes, they've paid a lot more than this (per bed) for some assets For example Woburn Place 420 beds for £135m (plus refurbishment costs) in March. And, as you say, quality is important for these moneyed overseas students.	jonwig	Read Full Thread Reply
11/12/2017 08:52	jonwig - hard to say. Student accommodation has a lot of shared facilities so you are buying more than a room. You can't buy a decent studio flat in central London for less than £400k....	trytotakeiteasy	Read Full Thread Reply
11/12/2017 07:11	New investment: https://www.investegate.co.uk/gcp-student-living--digs-/prn/new-acquisition/20171211070000PE9E0/ £160,000 per bed - London prices a bit crazy?	jonwig	Read Full Thread Reply
23/11/2017 11:39	The latest quarterly report from GCP Student showed a good start to the year with the NAV up.....risk is probably that GCP may need to raise more equity to develop a new site at Mile End...however, they have previously raised money above NAV and so it has boosted NAV.....rental growth for current student calendar year was strong at 4.1%... https://www.investegate.co.uk/gcp-student-living--digs-/prn/dividend-declaration-and-net-asset-valuation/20171026070000PDC34/	trytotakeiteasy	Read Full Thread Reply
23/11/2017 08:22	the mess at empiric may be hitting sentiment.however this is clearly the quality play in the sector. I retain mine as a result.	edwardt	Read Full Thread Reply
14/11/2017 18:06	Whatever reason support broken so I'm out. I can always reenter at a later date	davr0s	Read Full Thread Reply
14/11/2017 16:13	Quite a few of the "safe" yield stocks are being savaged for some reason.	hiddendepths	Read Full Thread Reply
14/11/2017 15:21	Likely a private client manager turning over a portfolio or two. When fundamentals OK just need to look through such events.	scallywagkid	Read Full Thread Reply
14/11/2017 14:30	Hmmmm - making 1 year lows never a good sign	davr0s	Read Full Thread Reply
14/11/2017 11:38	surprised by the drop here... the interim report was pretty good...	trytotakeiteasy	Read Full Thread Reply
08/11/2017 07:17	FT: Amber Rudd, the home secretary, is leading a new cabinet push to remove students from the government’s immigration targets, in a move that will delight universities but put her on course for a clash with the prime minister. Theresa May is said by one minister to be in a minority of one in the cabinet in believing that students must be counted in the target, and she has been implacable in her resistance to any change in policy. But Ms Rudd believes that unless the prime minister changes her position in the coming weeks, the government will suffer a humiliating defeat early next year when the Commons considers a bill to set up a post-Brexit immigration regime. One ally of the home secretary said it was certain that there would be an attempt to amend the Immigration bill: “We’re going to have to do something about this ourselves, or we will be forced into doing it.” Only 26% of DIGS' students are from the UK.	jonwig	Read Full Thread Reply
09/10/2017 14:42	suet - yes, UTG is a more 'exciting' stock than DIGS, with potentially bigger upside, until the sector tops out. Then DIGS will be the defensive one. For the time being, DIGS will be rather boring!	jonwig	Read Full Thread Reply
09/10/2017 13:16	Good news from Unite this morning. Suet	suetballs	Read Full Thread Reply
29/9/2017 16:29	In for a few today - prospects look promising. Suet	suetballs	Read Full Thread Reply
15/9/2017 07:15	FY results look outstanding: Https://www.investegate.co.uk/gcp-student-living--digs-/prn/annual-financial-report/20170915070000PD022/ Note fully-covered dividend costing £22.1m from profits of £23.5m.	jonwig	Read Full Thread Reply
05/7/2017 07:20	On 13 June 2017, the Company announced a placing of new ordinary shares (the "Placing Shares") targeting gross proceeds of £70 million (the "Placing") to fund the acquisition of two student residential accommodation assets (the “Target Assets”). The Company has received applications from investors substantially exceeding the target gross proceeds. As applications for Placing Shares have substantially exceeded the target, a scaling back exercise has taken place. Accordingly, the Board has resolved to accept applications in respect of 49,295,774 Placing Shares at 142.0 pence per Placing Share, raising gross proceeds of £70 million. They've also announced forward-funded development in Brighton. Cost £70m.	jonwig	Read Full Thread Reply

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