First Property Share Chat (FPO)

Where is Mr Habib he seems to be distracted and lost interest here - lots of interesting deals have all but dried up for 2 years!

Oh dear !

Last small trade at 26.35 a buy (mine). Cherry picking in a dire market but this one selling at less than half true NAV and bulk of the assets in Poland. A plus at this point in time.

Great news on the property sale, for a nice profit always good to see.
Hopefully more good deals to come.

They are making progress letting out buildings.
Once one or two more contracts are signed that building will be profitable (gard)

I have been watching this SP drift down for a while, and think it is way undervalued. Covid was obviously a big hit to income streams, but it seems likely the recovery will be strong from here. Picked up a few shares in two small purchases this morning.

GLAH

With the usual caveats around the current economic climate , the mood of the earlier Investor Presentation was fairly bullish and optimistic of ongoing prospects especially in Poland where most of the activity is going to take place as they are selling up and pulling out of Romania. I think Ben actually mentioned that we should see more RNS’s coming through as deals are done over the next 6 months. Feels like FPO are moving to a better place now and are well positioned to take advantage of opportunities as they arise.
Worth also having a listen to an interview on IG that Ben Habib did earlier today,
Looks like they are going to be very busy.

ST in investors chronicle surely will give this a mention, historically 10% rise?

Yes I agree. It looks like we are back on track after the COVID-19 wobble.

Well that looks like a decent set of results, lots of improvement and a positive outlook for the future.
Maybe now we can get that overdue re rating.
Seems demand is coming back and the knock on effect will be property price increases.
Great stuff

There was an rns and someone had increased there position, maybe they are still increasing.

I am more curious as to why there have been so many buys & volume traded over the last few days. Have they been tipped or is some news filtering through regarding their FY results . Any ideas anyone ?

It peeeees me off because you can see quite a few large buys going through and the buy price has risen quite a bit percentage wise, but the sell price stays the same.
I don't want to sell bt the way, but it does make a difference when i look at my portfolio values.

Advisor has been nominated and is going through due diligence process.
Looks like trading has resumed.

Seems to be aim rule 1, because of loss of adviser, that seemed to be lost because of a merger and decision nit to advise anymore.

Thanks for that link. Sounds really positive - especially the NAV at 48p. I invested another £1K. GLA

These results were much improved, debt is down, rent collection is very good, Ben seems to think fpo will be doing more deals this year.
Dividend is back.
Nav maybe set to climb back up this year.
https://youtu.be/Z8oztpkjOSI

Looks like another add RNS today, but I feel results are better than expected and maybe he's making an educated guess that fpo is due a re rating as the outlook isn't as bad as the share price suggests.

Now over 7% - but to be clear - from former dealings in other companies, he is no supporter or benefit to other shareholders and only deals / lends money etc for his own benefit!
Hopefully FPO's mgt will do some more canny deals on it's own accord to pull us out from here.

He has added since then,so seems to be interested.

Swedish investor Peter Gyllenhammar is building up a stake in First Property (LON: FPO), which was hit by a sharp share price decline following its full year results. There is upside for the property manager and investor, though, because of its strong balance sheet and recurring income.

Peter Gyllenhammar is predominantly a value investor so he must see value in First Property, which manages property funds and owns property directly in the UK, Poland and Romania. On 28 July, his shareholding passed 3% and the stake has been increased to 4.07%.

Sadly, a main prop for me (the dividend) has been kicked away probably for the next couple of years. This is a quality company in its sector and I'll hold on but not tempted to buy more above c22p.

Simon T did a good write up, but I sold some
Sadly the company wrote the most negative RNS, so their mood seems to be out of sync with Simon T.

Why they are kitchen sinking about years to recovery etc who knows, they have no need to be this negative

Don't see why not.

All the pain has gone you'd like to think with the 7m impairment charge. Accounts would have looked a lot different without that even during a pandemic.

Dividend will be reinstated at some point and if at the previous level, that's some return on the current sp.

There is also still a significant gap to NBV.

Lowest price in 52 weeks, short term price recovery target 33p.