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News and Press Releases
25 Nov 2024

Investors Chronicle: Trading gains return First Property to profit

Simon Thompson maintains his “hold” recommendation but concludes by saying ”Expect the 51 per cent share price discount to NAV to narrow in a more benign interest rate environment and commercial property investment market.”

News and Press Releases
05 Sep 2024

Investors Chronicle: First Property looks for cash: should shareholders get involved?

Simon Thompson recommends shareholders take up their allocation in the deeply discounted open offer. He notes that “pro-forma NAV of £47.4mn equates to a fully diluted NAV per share of 31.5p, implying the shares are priced on less than half book value, a high level of risk aversion.” He adds that “a more benign interest rate environment could spark interest in deep value property plays and First Property is one for the watchlist.”

News and Press Releases
01 Jul 2024

Investors Chronicle: This property company’s 54% discount shouts value

Reporting on the Group’s FY 2024 Preliminary Results, Simon Thompson noted they were hit by impairments but that the company is well placed to benefit when the gloom lifts. He concludes that “it’s too early to turn buyer again but a more benign interest rate environment could spark interest in deep value property plays. First Property is one for your watchlist. Hold.”