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also I think people may have had to sell shares at a loss so the buyer gains, untill the shares fall again
I think id give this one a miss with the uncertainty of property prices going forward, high debt levels, and the cost of replacing soft furnishings every few years ,buildings maintenance , the share dilution every time there's a fund raise ,the almost unsustainable falling yield, and the relatively large sums the directors are paid making a cut to profits ,and with every one expecting a market crash imminently or within the next two years whos to say what that will do to the high prices in this sector that people are currently living with.With all that said Id say the share price should be about 50p or less
No,its probably just stating the obvious, that you can't go in and claim a property just because you are owed some money,you would need to go through the proper administrator ect. ESP just need to work on costs a bit and are in no way that kind of state anyway, but the assets are owned by the shareholders and the debtors ,but the debtors come first probably so that might be the debtors request to put that on. Esp assets are around a pound a share so far more than current share price.
it says on the esp web site ,if esp fail to pay out shae holders have no claim on company assets so is esp just a cash shell
Market is not that positive on today's results, but support is clearly 82p for now. Still undecided but still in a clear downtrend. Needs to head above 95p to break the trend.
Very happy with the progress so far,looks like administration costs are lower and they are targeting lower operational cost savings. The review of the business looks to be bringing positive changes that will see a tighter operation going forward. I think with these results the NAV discount should narrow considerably going forward. 33% LTV isn�t very high and with the changes made this business is well on the way to recovery.
Bought some yesterday and some today,I like the big NAV discount and the income this produces both in dividend yield and the property income. LTV looks good . Of course they have had some troubles recently but hopefully a change of management will get these back on track.I like the Hello student platform and the properties look second to none. I'm thinking that maybe these should trade at NAV within 12 months. Which is around 20% increase and the cracking dividend. So I am in for the recovery.
Chief Executive finally gone. Chair should follow suit. Company needs a fresh start.
There are several issues here, for example the collapse in the share price of a business which is operating in a relatively stable sector, it's under performance within its peer group and the significant fall in value following the change in FD. Far from seeking increases in rents, they need to focus on the completion of all units and achieving maximum occupancy in an increasingly competitive sector. Better to have an average rent than no rent in my opinion. The strengthening of the current board also has to be an immediate priority.
Hard to see this one recover unless we see some Mgt changes . New low hit today reflects complete lack of confidence in Mgt going do they have a plan ?.New year willl need some changes
I completely agree. At the very least the chair and CEO should go.
The larger investors have clearly lost faith in the current board judging by the large sells over the past few weeks. The share price has significantly under performed within its peer group in a reasonable market. Time to look for suitably skilled and experienced people to strengthen the board and for the existing directors to stand down IMO.
Lots of projects still under development the focus was was bound to wane slightly, when developments become operational income and value will be seen, a good time to buy more on the dip and wait IMHO
This was supposed to be a nice safe bet with a decent yield to offset my riskier investments - not exactly the end of the world but disappointing considering the benign current interest rate & property market environment ! More positively management seem to appreciate they have taken their eye off the ball and seem determined to put it right - right decision to forego their bonus !
Seems a long time ago now ( Sep 16 ) whilst I understand the concerns raised in earlier posts the pull back seems overdone ( as did the high based on early promise / enthusiasm ). Personally I see this at around 105 - 110p reflecting the NAV of 106p with any risks offset by a decent 6% Divi. This is still below the July open offer price of 109p which is perhaps why it wasn't fully subscribed this time, I didn't subscribe myself on this occasion as I felt the price was on the strong side and I'd recently reduced at around 114p so I suppose I shouldn't be surprised ! Numis clearly weren't impressed with the results/outlook and we now are approaching the level of their 94p reduce level.
Looks like a good piece of business with the Stirling site sale, with all the other ongoing developments it may have sat for a while.
When they're borrowing the numbers they are and until occupancy levels of all properties are at the desired levels, it's likely that part of the dividend payment is from money borrowed. They've so many projects on the go, perhaps they should learn to walk before they run.
Totally agree. The sp has lost 10% since they came up with what i thought were good results and i would not be surprised if the sp dips below 100. For me the main attraction is the yield!
In my opinion, the company should focus on managing and letting those properties already purchased, before making further acquisitions. Steady, organic growth is better than a rush for growth funded by share issues and expensive borrowing. I agree with the comment made by Bev 88. Performance has been poor when compared to their peers.
Great time to top up with SP below NAV, and almost 6% div return too.
Hargreaves Lansdown have given a good write-up after their results were impressive. Suggested they are a good medium to long-term investment and I agree, plus they pay a good dividend. As far as REITs go, I value this investment trust as highly as BBOX
This is the 4th acquisition in less than a month to the tune of more than 50 mil. How will they finance them? I think the long term prospects for the student accommodation sector are very good, but still there is a question mark here. Comparing to the sp of Unite ,i must say that the performance of ESP has been very disappointing !
Whilst this outfit are active purchasers , time will tell if they are in same class as Unite and Watkin when it comes to execution which is key to long term success. Current price softness may reflect some doubts.
Very good buying chance at this level although i see it going lower!
Question for any long term holders of ESP out there. Are we buying at this level ,under 110? I am!