Fprop in the News

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30 Nov 2015

Investors Chronicle – Investing for bumper gains

Simon Thompson explains his rationale for tipping First Property Group, describing it as “a classic value share with solid asset backing, decent cash generation to provide shareholders with a sustainable dividend and the board with funds to invest wisely, and potential for solid profit growth to drive an earnings multiple expansion.” He can “see potential for more upside too because with directly owned properties providing a solid recurring income stream to support the dividend, cash available for earnings accretive acquisitions, and mandate wins starting to build up new income streams, its prospects look well underpinned.”

26 Nov 2015

Growth Company Investor: A property stock finding lots of value in central Europe

David Thornton, Editor, comments on the Group’s Interim Results and concludes the shares are a “buy”.

13 Oct 2015

Property Funds World – Extension of Permitted Development rights to be applauded

Comment from Ben Habib, Fprop CEO, following the news that the Government intends to make the temporary extension of permitted development rights (PDR) permanent with respect to the conversion of offices to residential use.

07 Oct 2015

Investors Chronicle – In pole position for a re-rating

Simon Thompson reiterates his buy recommendation with a target price of 49p.

01 Jul 2015

Proactive Investors – First Property strategy paying dividends – literally

First Property Group’s prelims last month revealed a period of significant progress…

16 Jun 2015

Investors Chronicle – Bargain Shares updates by Simon Thompson

Run profits at 45p.

12 Jun 2015

Investors Chronicle – First Property keeps shining

“It may be tempting to bank profits, but with the shares on 10 times 2016 forecast earnings and yielding over 3 per cent, we believe the market still hasn’t fully appraised the reliable returns generated by this well-run little group. Buy.”

24 Apr 2015

Investors Chronicle – Running bumper profits

Simon Thompson recommends continuing to “run bumper profits” as Fprop shares still only trade on 9x recurring net earnings, with a realistic chance of earnings upgrades as this year progresses, and are underpinned by a decent dividend yield.

02 Apr 2015

City AM – We can ramp up housebuilding by turning offices into flats – if the planners let us

Guest columnist, Ben Habib, calls on the next government to enact permanent legislation to break the stranglehold of our turgid planning system.

31 Mar 2015

IP Real Estate – Pension funds move quickly on residential conversions

Richard Lowe comments on Fprop’s partnership with Towers Watson to convert offices to residential use which delivered a 53% return on equity for its investors.

30 Mar 2015

CoStar – First Property urges PDR extension

CoStar summarises Fprop’s statement re: Permitted Development Rights (PDR) in response to Eric Pickle’s Planning Update to Parliament published on 25 Mar 2015.

30 Mar 2015

Investors Chronicle – A quartet of small-cap buys

Simon Thompson updates his medium-term price target to 38-40p and reiterates his buy recommendation, first tipped at 18.5p in his 2011 ‘Bargain Shares’ portfolio.