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First Property Group

AIM:FPO
Snowflake Description

Established dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FPO
AIM
£46M
Market Cap
  1. Home
  2. GB
  3. Real Estate
Company description

First Property Group plc is a real estate investment firm. The last earnings update was 100 days ago. More info.


Add to Portfolio Compare Print
  • First Property Group is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
FPO Share Price and Events
7 Day Returns
0.6%
AIM:FPO
1.8%
GB Real Estate
-0.4%
GB Market
1 Year Returns
-18.1%
AIM:FPO
15%
GB Real Estate
4.5%
GB Market
FPO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Property Group (FPO) 0.6% -1.8% -1.8% -18.1% -13.9% 55.3%
GB Real Estate 1.8% 2.8% 9.5% 15% -8.1% 6.6%
GB Market -0.4% 1.7% 4.7% 4.5% 6.9% 2.9%
1 Year Return vs Industry and Market
  • FPO underperformed the Real Estate industry which returned 15% over the past year.
  • FPO underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 4.5% over the past year.
Price Volatility
FPO
Industry
5yr Volatility vs Market

FPO Value

 Is First Property Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Property Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Property Group.

AIM:FPO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.6%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AIM:FPO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.051 (1 + (1- 19%) (144.07%))
1.856
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.856 * 6.65%)
13.57%

Discounted Cash Flow Calculation for AIM:FPO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for First Property Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

AIM:FPO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 13.57%)
2020 5.13 Est @ -23.5% 4.52
2021 4.31 Est @ -16.08% 3.34
2022 3.84 Est @ -10.89% 2.62
2023 3.56 Est @ -7.25% 2.14
2024 3.39 Est @ -4.71% 1.80
2025 3.29 Est @ -2.93% 1.53
2026 3.24 Est @ -1.68% 1.33
2027 3.21 Est @ -0.81% 1.16
2028 3.20 Est @ -0.2% 1.02
2029 3.21 Est @ 0.23% 0.90
Present value of next 10 years cash flows £20.00
AIM:FPO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £3.21 × (1 + 1.23%) ÷ (13.57% – 1.23%)
£26.35
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £26.35 ÷ (1 + 13.57%)10
£7.38
AIM:FPO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £20.00 + £7.38
£27.38
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £27.38 / 110.85
£0.25
AIM:FPO Discount to Share Price
Calculation Result
Value per share (GBP) From above. £0.25
Current discount Discount to share price of £0.42
= -1 x (£0.42 - £0.25) / £0.25
-69%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of First Property Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Property Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Property Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:FPO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in GBP £0.05
AIM:FPO Share Price ** AIM (2019-11-15) in GBP £0.42
United Kingdom of Great Britain and Northern Ireland Real Estate Industry PE Ratio Median Figure of 29 Publicly-Listed Real Estate Companies 12.7x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 751 Publicly-Listed Companies 17.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Property Group.

AIM:FPO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:FPO Share Price ÷ EPS (both in GBP)

= 0.42 ÷ 0.05

8.43x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Property Group is good value based on earnings compared to the GB Real Estate industry average.
  • First Property Group is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does First Property Group's expected growth come at a high price?
Raw Data
AIM:FPO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
United Kingdom of Great Britain and Northern Ireland Real Estate Industry PEG Ratio Median Figure of 18 Publicly-Listed Real Estate Companies 0.9x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 558 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for First Property Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on First Property Group's assets?
Raw Data
AIM:FPO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in GBP £0.41
AIM:FPO Share Price * AIM (2019-11-15) in GBP £0.42
United Kingdom of Great Britain and Northern Ireland Real Estate Industry PB Ratio Median Figure of 37 Publicly-Listed Real Estate Companies 1.17x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,305 Publicly-Listed Companies 1.52x
AIM:FPO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:FPO Share Price ÷ Book Value per Share (both in GBP)

= 0.42 ÷ 0.41

1.01x

* Primary Listing of First Property Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Property Group is good value based on assets compared to the GB Real Estate industry average.
X
Value checks
We assess First Property Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. First Property Group has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FPO Future Performance

 How is First Property Group expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-8.1%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is First Property Group expected to grow at an attractive rate?
  • Unable to compare First Property Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare First Property Group's earnings growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
  • First Property Group's revenues are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
AIM:FPO Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:FPO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts -8.1%
United Kingdom of Great Britain and Northern Ireland Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 12%
United Kingdom of Great Britain and Northern Ireland Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AIM:FPO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:FPO Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 18 7 1
2020-03-31 16 7 1
AIM:FPO Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-03-31 20 7 6
2018-12-31 22 8 5
2018-09-30 25 10 5
2018-06-30 25 10 6
2018-03-31 25 10 7
2017-12-31 25 11 8
2017-09-30 25 12 8
2017-06-30 24 13 8
2017-03-31 24 14 8
2016-12-31 23 12 6
2016-09-30 22 10 4
2016-06-30 22 10 5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if First Property Group is high growth as no earnings estimate data is available.
  • First Property Group's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AIM:FPO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from First Property Group Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:FPO Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31
2020-03-31
AIM:FPO Past Financials Data
Date (Data in GBP Millions) EPS *
2019-03-31 0.05
2018-12-31 0.05
2018-09-30 0.05
2018-06-30 0.05
2018-03-31 0.06
2017-12-31 0.07
2017-09-30 0.07
2017-06-30 0.07
2017-03-31 0.07
2016-12-31 0.05
2016-09-30 0.04
2016-06-30 0.04

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • First Property Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess First Property Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Property Group has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FPO Past Performance

  How has First Property Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Property Group's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Property Group's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • First Property Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • First Property Group's 1-year earnings growth is negative, it can't be compared to the GB Real Estate industry average.
Earnings and Revenue History
First Property Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Property Group Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:FPO Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 20.44 5.51 9.32
2018-12-31 22.48 5.41 9.09
2018-09-30 24.53 5.32 8.85
2018-06-30 24.99 6.04 9.01
2018-03-31 25.46 6.76 9.16
2017-12-31 25.05 7.55 8.94
2017-09-30 24.63 8.35 8.73
2017-06-30 24.15 8.09 8.47
2017-03-31 23.66 7.83 8.21
2016-12-31 22.90 6.14 8.21
2016-09-30 22.13 4.44 8.22
2016-06-30 22.04 4.72 8.31
2016-03-31 21.96 5.01 8.40
2015-12-31 21.82 5.90 8.84
2015-09-30 21.69 6.80 9.28
2015-06-30 20.10 7.48 8.10
2015-03-31 18.52 8.17 6.93
2014-12-31 20.04 8.38 6.10
2014-09-30 21.56 8.58 5.28
2014-06-30 19.80 6.93 5.15
2014-03-31 18.05 5.28 5.02
2013-12-31 13.20 3.82 4.28
2013-09-30 8.36 2.35 3.54
2013-06-30 9.50 2.46 3.48
2013-03-31 10.64 2.57 3.42
2012-12-31 10.97 2.79 3.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Property Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Property Group used its assets more efficiently than the GB Real Estate industry average last year based on Return on Assets.
  • First Property Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess First Property Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Property Group has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FPO Health

 How is First Property Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up First Property Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • First Property Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • First Property Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of First Property Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Property Group Company Filings, last reported 7 months ago.

AIM:FPO Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 46.29 39.56 9.74
2018-12-31 46.29 39.56 9.74
2018-09-30 50.76 74.49 10.01
2018-06-30 50.76 74.49 10.01
2018-03-31 52.92 70.59 15.32
2017-12-31 52.92 70.59 15.32
2017-09-30 44.91 69.35 10.00
2017-06-30 44.91 69.35 10.00
2017-03-31 43.43 69.18 15.95
2016-12-31 43.43 69.18 15.95
2016-09-30 36.43 71.28 14.12
2016-06-30 36.43 71.28 14.12
2016-03-31 34.09 66.89 8.98
2015-12-31 34.09 66.89 8.98
2015-09-30 32.06 62.73 14.20
2015-06-30 32.06 62.73 14.20
2015-03-31 31.02 61.93 12.24
2014-12-31 31.02 61.93 12.24
2014-09-30 26.62 40.46 12.05
2014-06-30 26.62 40.46 12.05
2014-03-31 23.46 38.39 11.28
2013-12-31 23.46 38.39 11.28
2013-09-30 19.45 11.57 10.60
2013-06-30 19.45 11.57 10.60
2013-03-31 18.54 10.94 12.98
2012-12-31 18.54 10.94 12.98
  • First Property Group's level of debt (85.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (163.5% vs 85.5% today).
  • Debt is not well covered by operating cash flow (17%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.7x coverage).
X
Financial health checks
We assess First Property Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Property Group has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FPO Dividends

 What is First Property Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.98%
Current annual income from First Property Group dividends. Estimated to be 4.13% next year.
If you bought £2,000 of First Property Group shares you are expected to receive £80 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Property Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.97%).
  • First Property Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.34%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AIM:FPO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 2.8%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 680 Stocks 4.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AIM:FPO Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 0.02 1.00
2020-03-31 0.02 1.00
AIM:FPO Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-08-08 0.017 3.894
2019-06-06 0.017 3.523
2018-08-21 0.016 3.134
2018-06-08 0.016 2.734
2017-11-23 0.016 3.191
2017-08-17 0.016 2.920
2017-06-08 0.016 2.893
2016-08-30 0.015 3.114
2016-06-09 0.015 3.455
2015-08-26 0.014 2.980
2015-06-11 0.014 3.409
2014-08-20 0.011 3.449
2014-06-03 0.011 3.553
2013-06-05 0.011 4.399
2012-07-23 0.011 5.745
2011-07-08 0.011 5.994
2011-06-21 0.011 4.643
2010-07-07 0.010 5.517
2010-06-09 0.010 6.192
2009-11-30 0.010 5.892
2009-06-02 0.010 6.470
2009-06-01 0.010 6.508
2008-11-19 0.010 7.280

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of First Property Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.9x coverage).
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Income/ dividend checks
We assess First Property Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Property Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Property Group has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FPO Management

 What is the CEO of First Property Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ben Habib
COMPENSATION £1,596,000
TENURE AS CEO 19.8 years
CEO Bio

Mr. Benyamin N. Habib, also known as Ben, MA (Cantab) founded First Property Group PLC in 2000 and has been its Chief Executive Officer since 2000. He served as Chief Investment Officer of First Property Group plc. Mr. Habib serves as the Chief Investment Officer of First Property Asset Management Limited. Mr. Habib also served as Chief Investment Officer of First Property Group PLC. Mr. Habib serves as the Chief Investment Officer at First Property Asset Management Ltd. He has over 16 years experience in the property sector. From 1994 to 2000, Mr. Habib was involved in over 70 transactions (developments and investments) totalling in excess of £100 million and spanning the breadth of the UK. He has a strong financial background, having been FD of PWS Holdings plc for five years in the early 1990's and an investment banker in corporate finance with Shearson Lehman Bros in the late 1980's. He serves as a Director of First Property Group PLC. Mr. Habib is a Member of the Governing Body of Rugby School. He received an MA at University of Cambridge. He was educated at Rugby School and Cambridge University.

CEO Compensation
  • Ben's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Ben's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure of the First Property Group management team in years:

2.8
Average Tenure
  • The tenure for the First Property Group management team is about average.
Management Team

Ben Habib

TITLE
Group CEO & Director
COMPENSATION
£2M
TENURE
19.8 yrs

George Richard Digby

TITLE
Group Finance Director
COMPENSATION
£477K
AGE
63

John Dunkley

TITLE
Chief Technical Officer
TENURE
2.8 yrs

Jill Aubrey

TITLE
Director of Fund Operations
TENURE
0.3 yrs

David Thomas

TITLE
Head of Sales & Marketing
AGE
61

Laura James

TITLE
Group Financial Controller

Jay Dodhia

TITLE
Associate Fund Manager of First Property Asset Management Limited

Robert Wozniak

TITLE
General Counsel Lawyer of First Property Poland Sp. z.o.o.

Del Chandler

TITLE
Senior Adviser to First Property Poland Sp. Z O.O.

Alasdair Findlay-Shirras

TITLE
Senior Adviser
Board of Directors

Alasdair James Locke

TITLE
Non-Executive Chairman
COMPENSATION
£30K
AGE
65

Ben Habib

TITLE
Group CEO & Director
COMPENSATION
£2M

George Richard Digby

TITLE
Group Finance Director
COMPENSATION
£477K
AGE
63

Peter Moon

TITLE
Independent Non-Executive Director
COMPENSATION
£30K
AGE
69
TENURE
9.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
08. Aug 19 Buy Benyamin Habib Individual 08. Aug 19 08. Aug 19 100,000 £0.44 £43,500
07. Aug 19 Buy Benyamin Habib Individual 05. Aug 19 05. Aug 19 100,000 £0.42 £41,680
X
Management checks
We assess First Property Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Property Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FPO News

Simply Wall St News

How Much is First Property Group plc's (LON:FPO) CEO Getting Paid?

Understanding how CEOs are incentivised to run and grow their company is an important aspect of investing in a stock. … This is because, if incentives are aligned, more value is created for shareholders which directly impacts your returns as an investor. … CEOs leading companies of similar size and profitability

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Is First Property Group plc's (LON:FPO) Balance Sheet Strong Enough To Weather A Storm?

Investors are always looking for growth in small-cap stocks like First Property Group plc (LON:FPO), with a market cap of UK£68.97m. … However, an important fact which most ignore is: how financially healthy is the business? … Evaluating financial health as part of your investment thesis is

Simply Wall St -

Is First Property Group plc (LON:FPO) Undervalued?

So, could the stock still be trading at a low price relative to its actual value. … Today I will analyse the most recent data on First Property Group’s outlook and valuation to see if the opportunity still exists? … Check out our latest analysis for First Property Group

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Best Rated AIM Dividend Stocks

First Property Group, Games Workshop Group, and Morgan Advanced Materials are three of the best paying dividend stocks for creating diversified portfolio income. … AIM:FPO Historical Dividend Yield Jun 12th 18 Games Workshop Group PLC (LSE:GAW) Games Workshop Group PLC, together with its subsidiaries, designs, manufactures, and distributes miniature figures and games in the United Kingdom, Continental Europe, North America, Australia, New Zealand, and Asia. … LSE:GAW Historical Dividend Yield Jun 12th 18 Morgan Advanced Materials plc (LSE:MGAM) Morgan Advanced Materials plc operates as an advanced materials science and engineering company that focuses on ceramics, carbon, and composites primarily in the United Kingdom.

Simply Wall St -

What Kind Of Risk Should You Expect For First Property Group plc (LON:FPO)?

A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … Based on this beta value, FPO appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market. … FPO, with its market capitalisation of UK£59.51M, is a small-cap stock, which generally have higher beta than similar companies of larger size.

Simply Wall St -

Is First Property Group plc's (LON:FPO) Balance Sheet A Threat To Its Future?

At this constant level of debt, FPO's cash and short-term investments stands at UK£15.95M , ready to deploy into the business. … Moreover, FPO has produced UK£13.62M in operating cash flow in the last twelve months, leading to an operating cash to total debt ratio of 11.38%, indicating that FPO’s current level of operating cash is not high enough to cover debt. … For FPO, the ratio of 3.4x suggests that interest is appropriately covered, which means that lenders may be inclined to lend more money to the company, as it is seen as safe in terms of payback.Next Steps: FPO’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

Is It Time To Buy First Property Group plc (LON:FPO)?

It’s trading around 11.07% below my intrinsic value, which means if you buy First Property Group today, you’d be paying a fair price for it. … What does the future of First Property Group look like? … The stock appears to be trading at fair value, which means there’s less benefit from mispricing.

Simply Wall St -

Should First Property Group plc (LON:FPO) Be Part Of Your Portfolio?

First Property Group plc (AIM:FPO) has returned to shareholders over the past 10 years, an average dividend yield of 4.00% annually. … See our latest analysis for First Property Group 5 questions I ask before picking a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Does it pay an annual yield higher than 75% of dividend payers? … Compared to its peers, First Property Group produces a yield of 3.07%, which is high for Real Estate stocks but still below the market's top dividend payers.Next Steps: With these dividend metrics in mind, I definitely rank First Property Group as a strong income stock, and is worth further research for anyone who considers dividends an important part of their portfolio strategy.

Simply Wall St -

Should Your Next Investment In The Real Estate Industry Be In First Property Group plc (LON:FPO)?

First Property Group plc (AIM:FPO), a GBP£55.97M small-cap, operates in the real estate industry which is the most prevalent industry in the global economy, and as an asset class, it has continued to play a crucial role in the portfolios of various investors. … Check out our latest analysis for First Property Group What’s the catalyst for First Property Group's sector growth? … On the stock-level, First Property Group is trading at a PE ratio of 7x, which is relatively in-line with the average real estate stock.

Simply Wall St -

Is It The Right Time To Buy First Property Group plc (AIM:FPO)?

First Property Group plc (AIM:FPO), a real estate management and development company based in United Kingdom, saw significant share price volatility over the past couple of months on the AIM, rising to the highs of £0.56 and falling to the lows of £0.49. … Let’s take a look at FPO’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at FPO future expectations.

Simply Wall St -

FPO Company Info

Description

First Property Group plc is a real estate investment firm. It provides fund management, financial, and technical services to the property industry in the United Kingdom and other European countries. The firm manages commercial properties of various fund investors, as well as involves in property investment and trading, property equity finance, and online activities. It also engages in the facilities management of properties, which include contract installation and maintenance of air conditioning and ventilation systems for office working environments. The firm prefers to invest in offices that can be converted into flats . First Property Group plc is based in London, the United Kingdom.

Details
Name: First Property Group plc
FPO
Exchange: AIM
Founded:
£46,281,545
110,854,001
Website: http://www.fprop.com
Address: First Property Group plc
32 St James’s Street,
London,
Greater London, SW1A 1HD,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM FPO Ordinary Shares London Stock Exchange AIM Market GB GBP 10. Feb 1995
Number of employees
Current staff
Staff numbers
55
First Property Group employees.
Industry
Diversified Real Estate Activities
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/16 20:34
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/10/16
Last earnings filing: 2019/08/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.