Gcp Student Living Share Discussion Threads

[riverman77] 05/7/2021 11:48

You'd expect a decent premium over nav to make this a credible offer - I'd say 210-220p would be the bare minimum, with 230-240p closer to fair value. Remember it was trading over 200p before covid so can't possibly see this going for less than that.

[donald pond] 05/7/2021 09:49

Last NAV was up 4% to 179 and we've been told next will be a material increase so I'd suggest the same again as a minimum. In other words, this is probably still trading below NAV

[suetballs] 05/7/2021 09:36

Even at £2 this has to be inexpensive?
Bags of potential as students will still want to study in London post covid.
Suet

[jonwig] 02/7/2021 20:19

Scape Living, part of the consortium, is of course the property manager here.
It's unclear to me whether Gravis (the investment manager) and the board were aware of this development.

[donald pond] 02/7/2021 19:56

Well, I'd be happy with a swift rerating that's for sure!

[suetballs] 02/7/2021 17:36

However some good news in the announcement - Board is anticipating a material increase in its property valuation for the period to 30th June 2021.
I'll be watching the weekend press with interest.
Suet

[suetballs] 02/7/2021 17:14

Unwanted takeover interest as far as I'm concerned.
Suet

[suetballs] 12/5/2021 08:11

Nice update - getting back to normal.
Suet

[donald pond] 16/4/2021 16:40

It's been a great week here and one of the most obvious trades I can recall seeing since October

[suetballs] 16/4/2021 13:51

Soon back to £2 at this rate.
Suet

[suetballs] 16/3/2021 11:30

Firmly back on the front foot - much more to come.
Suet

[suetballs] 24/2/2021 12:46

Unlike the cricket - doh.
Suet

[suetballs] 24/2/2021 12:45

On our way back - yippee.
Suet

[jonwig] 22/2/2021 08:09

Interesting article, thanks.

So if the Dutch put up 75% that means others (DIGS?) put up £125m.
DIGS has £60m cash and £50m unused floating debt facility (30/06). Maybe another investor? maybe increase debt? equity? (NAV ~170p.)

[rambutan2] 21/2/2021 21:45

Piece in the FT re APG (11% holder of DIGS) funding Scape's growth plans big time. Plus some generally bullish comments on the sector's outlook.

www.ft.com/content/8408c4b3-437a-464d-acf3-a6e243a7144a

[suetballs] 17/2/2021 11:29

Thanks Maddox - onwards and upwards then.
Suet

[maddox] 17/2/2021 11:01

Unite(UTG)has published a Student Survey this morning, that is significant for any investors in the sector:



The up-shot is that we can expect a rapid recovery in Unite's trading, once Covid-19 restrictions allow. The findings are:

>> 77% students struggled with mental health and wellbeing as a result of Covid-19, but 84% say engaging in university life has been positive for their mental health;

>> Students' biggest challenge this year is the lack of face-to-face teaching, practical experience or facilities;

>> Traditional face-to-face university experience is key for students: 86% are keen to get onto university campus once it is safe to do so; 75% agree that living in university accommodation and being on campus is as important a part of the University experience as lectures and tutorials; and

>> Four in five (79%) students would like a return to face-to-face tuition after the Easter break.

This based on a survey of 2000 students.

Covid-19 has been very instructive: It has demonstrated just how robust the demand is for the University experience. Going to University is clearly a culturally entrenched 'right of passage' for the UK's young adults.

It has often been postulated that on-line learning would disrupt this tradition. Covid-19 has provided the opportunity to test this hypothesis. Whilst, on-line learning has clearly allowed for teaching to continue during the Covid-19 Lockdowns - but is certainly not a substitute for the Uni experience.

These are two extremely significant points for anyone assessing the risks of investing in this sector.

Regards Maddox

[suetballs] 15/2/2021 14:47

sp rises nicely on the above.
Suet

[suetballs] 15/2/2021 13:42

WeWork chucked out with rent paid to June 2021.
Ok we lost a tenant but hopefully we can find better ones in due course.
Suet

[adamb1978] 05/2/2021 12:24

I'm tempted to pick up more given the discount to NAV. Its difficult to see universities being impacted long-term from the virus

[donald pond] 05/2/2021 09:16

Universities look like they will be back to normal by autumn. I've got a kid in that cohort and it's going to be business as usual so really the drop here is a year's dividends. So it looks very good value atm

[jonwig] 05/2/2021 08:56

I think so, too.
They seem to have sublet quite a bit so haven't lost all the income, though screwing what Wework owes might be a struggle.

[adamb1978] 05/2/2021 08:23

Negligible Q2 dividend - 0.25p vs 1.58p last year. Is that going to hit the share price or will investors look through it? I'd expect the latter

[jonwig] 22/1/2021 15:04

Yes, it's a fair outcome (UTG I think did much the same). The limit on earnings loss is pretty good, but we don't know what revaluations will say, of course.