Fprop in the News

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18 Apr 2016

Investors Champion – Consistent performer still looking good

Michael Crockett notes that “This small property group has been one of AIM’s most consistent performing shares over the last few years” and considers whether its “good run” can continue.

11 Apr 2016

Investors Chronicle – Maintaining a strong pole position

Simon Thompson reiterates his buy recommendation: “Trading on less than 1.2 times adjusted book value of 40p, rated on 10 times earnings estimates and offering a dividend yield in excess of 3 per cent, I now rate First Property’s shares a trading buy with a target price of 56p.”

31 Mar 2016

IP Real Estate – First Property takes consortium into Polish retail sector

…in a new shopping centre in Swinoujscie, northern Poland, acquired at a total cost of €24.08m.

25 Feb 2016

IP Real Estate – First Property extends UK real estate fund with pension-fund backing

…the limited partners in its UK Pension Property Portfolio vehicle, which is generating a 6.5% annual dividend yield without the use of leverage, agreed to extend the fund’s life by five years.

11 Jan 2016

Investors Chronicle – Maintaining a pole position

Simon Thompson recommends investors “run profits” despite the share price having exceeded his price target of 49p, explaining that “the shares are still only rated on a little over 10 times earnings estimates and offer a prospective dividend yield of 2.8 per cent.” He sees “potential for more earnings-accretive acquisitions given that First Property will have £13m of cash available to invest once the Lidl properties are refinanced.”