Member Info for TimBob

Agree with Operastar on this; share price was down due to the lack of movement / news on the reinvestment of funds received following the sell off of the offices and other non-retail assets.
They had said locations had been identified and new would follow, but if they are being super savvy, then they might be trying to shave more off the price.
Still think the anticipated Sept Divi rise will still come, but might not be as much...

Down a bit from Fridays close, but still holding above the 80p mark... which is good and bad depending on if your still topping up on them!
Had hoped that there was news on the asset purchase / reinvestment front as that would be more weight behind an increase in divi.

Anyone got any idea for todays closing share price jump...? Whilst i personally think the SP has been low, i thought we might have seen a slight drop with the Interest rate increase...

Noticed this comment too Dusty42...
Also comment on not increasing Divi until the funds from the office sale had been reinvested...
Prudent move but in conjunction with this comment, it has me hoping that a purchase is made soon and the divi will be increased in the coming months...

100% underrated... i'm like Risk... started buying in at the £1 mark and topped up as they dropped... started to sell off when they went over the £0.85 mark (just to materialise some of my gains and spread my risk), but started buying again below the £0.80 threshold. Divi is good and market expectations is they will increase this when they have secured property from the office sale... fingers crossed its sooner rather than later...

With you on this Ben...
No sign of slowing on sites at the min... loads of sites with plenty of founds in so committed to build... National shortage still there (simply not enough labour, too many young people pushed to go to university and massive under investment from the successive labour/tory gov's...
Wife's in the morg. business and whilst they are seeing down valuations, the demand is still there and the feeling is a 3% correction in House prices next year! So nothing to write home about at the min... think we'll see a change after the summer (assuming Russia / Ukraine) is still an ongoing issue at that time...

Epic update their NAV's quarterly... so they were reviewed in Sept 21 and reported in Oct 21, then again in Dec 21 which was reported in the trading update in Feb. They have again been updated this March which we should get an update on them shortly (some point in april).
The company investors page shows that the other NAV announcements will be in July and Oct...

Office sale now complete... and to quote Callum Bruce "Good progress is being made in identifying suitable retail warehouse assets to acquire, which will provide the Company with an attractive level of income"
Here's hoping for that elusive dividend increase that's been muted for a while...

Current Debt % is only marginally above the companies target of 30-35% (currently 37%). This is mainly due to the de-valuation of the property portfolio over the past 3yrs (its was in a healthier position prior to COVID)... I suspect this is why the board hasn't been overly concerned with debt being above its % target; a single year of 5-6% asset growth would put them back into the target zone...
EPIC focus' more on Retail Warehousing, which seems to have been tarred with the same brush as High Street Retail... In my opinion the assets have been de-valued too much and the real NAV is higher still... With a healthy dividend yield and cover, its a good buy... If your looking for long term growth; reinvest the monthly divi... if you want an income, you get a little bit every month (so you dont seen too many price spikes when they go ex-div like some organizations).

Operastar... debt wont be paid off/reduced in £ note terms; if that what your looking for, id suggest you look elsewhere...
EPIC typically maintain the credit facilities at the £110m mark an reinvest surplus funds in further developing the property portfolio... thus giving investors a better return.

This is a red herring...
With approx. £302m in Assets and debt at circa £112m, net assets are £189m... Debt to equity is roughly 0.37 (37%) which in most sectors is considered good... The boards target level is 30-35%, so only 2% over this after a global pandemic which hit property values! Debt facilities and covenants have plenty of headroom, so very little risk...
Revolving Credit Facilities normally have higher interest rates and are aimed at business' that will dip into and out of them when needed for cash-flow issues... EPIC has relatively good cashflow so wouldn't typically need that type of debt facility...
As for "how is it being paid off!"... the aim isn't to pay it off... most business' operate with a proportionate level of debt permanently as the "Gearing" allows for them to make more money! Case in point... Credit facility has an interest rate of 2.86%... But EPIC can make 18% from that same money...

Agreed Riskingit, the SP movement isn't worth worrying about at the min as markets are all still spoofed...
Not adding anymore to my ISA portfolio as i'm still a bit to heavily invested, but my SIPP is set to re-invest with EPIC every month...

Looking forward to seeing what they do with the proceeds of the office sales... and when/where/how much the long awaited divi increase will be...

With you Krusty, would have sooner seen a return of the Special Divi than the Share buy back; but my understanding is that it is all part of the pressure applied by the likes of Elliotts'...
I moved away from TW a couple of years ago after being way too heavily invested and got out just before they cut the special divi (i got lucky); but at the current price, i'm starting to increase my stake again... Share Buy back should reinforce the SP and also increase the standard divi...

Not sure what % of energy is imported to the UK has to do with Builders... Porsche1946? But if you know anything about the housing sector in the UK, you'd know that it has been failing to build new houses to meet the increase demand in population growth for decades... as such, whilst there might be a price correction coming, it wont be catastrophic and they have always been short lived... TW along with the other Big developers are looking at 20% margins at the min, so even with a 10% price drop (something that is being talked about a lot in the mortgage markets at the min), TW, Persi and BDev will still be making 10% margins... and that's assuming they don't make any build cost savings...

Really don't get why EPIC has dropped... I get that Ukraine is a unknown and how it will potentially effect the markets, but bearing in mind how well EPIC did during the hardest point in the covid lockdown, I really cant see this drop as being a long term thing...

Yeah, happy with the gain... but like you Riskingit i'm mainly after dividend; so any increase will put a smile on my face...

Last NAV review was Sept 21 (announced Oct 21) and was £0.8961... Since, sept, we've seen a sale of offices at or above the Valuation and so with a more optimistic outlook we should see some NAV growth, though I doubt it will be significant...
In the sort term, I can't see much more SP growth without a Big increase in NAV which is unlikely; a increase in the DIVI on the other hand is significantly more likely and will also help drive the SP higher...

Riskingit, my Average for EPIC is now £0.6562 in my ISA and unfortunately £0.902 in my SIPP... i started to buy in at around the £1 mark and kept buying as they fell...
Regarding "taking profits", his advice all those years ago, was; "set a price you are happy to sell at, set a sell order and walk away"; basically don't second guess yourself and be happy with margin... When I sell, I tend to re-invest the original capital and build up a cash reserve...

Yes 75% is too high for me now days if I'm honest with myself... hence the switch... funnily enough to IMB. (funny who's tags popped up on that thread! lol). 10% of my holdings are there now, trying to build that up to 20%...
Was told along time ago now (by an ex's investment broker dad) to focus on 2 or 3 shares you can follow... and then a couple of safe bets you can just invest in and leave... Had got like that, but when EPIC dropped below £0.60 I just couldn't help myself and the lower it went, the more I bought!!! lol

Sold... but only a bit; 10% of my holdings (@£0.87 - i got that bit wrong on my prev. post)...
I don't like being over exposed to one Share, and at the moment 75% of my holdings are in EPIC... Happily sitting on what I now hold for the JAM as you put it... the monthly divi is great and doesn't hit the SP as much as quarterly or less frequent divi payments do.
Re-investing the monthly divi into EPIC still but at a lower level than before; still think the SP has movement, but more long term now.