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Post by overthehill on Oct 12, 2020 14:54:55 GMT
Quite possibly but they've still managed to reduce the value of my portfolio by 2.25% presumably due to amortization costs reducing, I'm not really interested in searching for other reasons.
I thought house prices are now higher than 12 months ago ! At least the owners and the property maintenance companies are making money - I've often mulled over whether any of these contracts are producing revenue for PP as well.
I'm feeling a bit more optimistic after the recent update, not a lot, selling off vacant properties is surely a good strategy.
My portfolio has also gone down, mostly due to the amortization of purchase costs plus the increased mortgages due to payment holidays. Net cash is now included in the value which overall is neutral for me but that hides some big ups and downs on individual properties. One odd element of that is that I have some student properties where they have a high cash position but they explain this is because people have paid up front for the whole year. They have included the "cash" asset but not the "deferred income" liability.
Either I'm going mad or my portfolio value has gone down again since the 1 oct , are they making these adjustments on a rolling basis?
SO that is a drop of at least 4.5% since the end of July. No wonder they postponed the actual property valuations to paint a brighter picture of their performance.
A company that bangs on about its data but I can't even get a download of my current properties, what I get is every property I've ever owned presumably and no useful columns to filter them out. Good one.
EDIT: The average drop in share price is 4.3% between september and october across all properties. I still think my portfolio value was being adjusted / corrected at different times over that period compared to the normal snapshot update.
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IFISAcava
Member of DD Central
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Post by IFISAcava on Oct 12, 2020 17:08:43 GMT
My portfolio has also gone down, mostly due to the amortization of purchase costs plus the increased mortgages due to payment holidays. Net cash is now included in the value which overall is neutral for me but that hides some big ups and downs on individual properties. One odd element of that is that I have some student properties where they have a high cash position but they explain this is because people have paid up front for the whole year. They have included the "cash" asset but not the "deferred income" liability.
Either I'm going mad or my portfolio value has gone down again since the 1 oct , are they making these adjustments on a rolling basis?
SO that is a drop of at least 4.5% since the end of July. No wonder they postponed the actual property valuations to paint a brighter picture of their performance.
A company that bangs on about its data but I can't even get a download of my current properties, what I get is every property I've ever owned presumably and no useful columns to filter them out. Good one.
EDIT: The average drop in share price is 4.3% between september and october across all properties. I still think my portfolio value was being adjusted / corrected at different times over that period compared to the normal snapshot update.
I am down over 5% in a month. Just holding out until the properties are sold now.
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mrk
Posts: 807
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Post by mrk on Oct 12, 2020 19:16:25 GMT
A company that bangs on about its data but I can't even get a download of my current properties, what I get is every property I've ever owned presumably and no useful columns to filter them out. Good one. If you're talking about the CSV you download from the dashboard page, you can look at the "Shares held" column. If you no longer hold any shares for that property the cell will be empty.
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Post by overthehill on Oct 13, 2020 11:53:02 GMT
A company that bangs on about its data but I can't even get a download of my current properties, what I get is every property I've ever owned presumably and no useful columns to filter them out. Good one. If you're talking about the CSV you download from the dashboard page, you can look at the "Shares held" column. If you no longer hold any shares for that property the cell will be empty.
Whatever import options I use , the shares held column has values between 0 and 1. There is something screwing it up, doesn't matter as I found one column , a long way from the shares held column, that was blank for all properties I no longer held. I can't say what column as the headers are getting skewed from the correct columns.
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travolta
Member of DD Central
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Post by travolta on Oct 13, 2020 13:58:31 GMT
I sold up everything last month. Willing to take the hit in order to depart with something other than regret and a total loss.
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Post by overthehill on Oct 14, 2020 13:23:55 GMT
Hard to argue with that decision, they need to start making mutually beneficial decisions , the trust is gone completely. Even after the recent write downs the discounts are still huge, why wouldn't an investor want to invest in a property with up to 25% discount ? There were several fairer and more modest ways to implement the new charges last year. They might have been a leader in fintech but their property credentials and integrity are being seriously tested - lender charges not related to portfolio performance, diving net dividends, questionable property, tenant, void and costs management. House prices have gone up 5% on average over the last 12 months but you wouldn't know it.
The ways things are going , I'll be lucky to see any profit after 5 years of investment. And only 3 of my properties out of 33 are in the 20 earmarked to sell off an individual unit so I'm not going to see much relief from that exercise, although this is probably just phase 1.
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Post by longjohn on Oct 14, 2020 15:12:21 GMT
Changing your dividend income so it's based on a percentage of PP's property valuation rather that a straight calculation of 'gross rent - costs = dividend income' is a pain as well.
At least previously all the numbers were available in the downloadable files so it was easy to build a portfolio of properties to an income profile that suited you. Now that's impossible as this new percentage value is not present in any downloadable file.
I'd rather they simply increased the provisions in the costs section so we can all see where and how much money is being retained to rebuild the SPV's financial strength.
This is becoming a bit too 'black box' for me. I quit Funding Circle when we were no longer allowed to choose our own loans. I wonder how long before PP decide we should all be in one of their investment plans?
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Post by scepticalinvestor on Oct 16, 2020 9:59:06 GMT
Changing your dividend income so it's based on a percentage of PP's property valuation rather that a straight calculation of 'gross rent - costs = dividend income' is a pain as well.
At least previously all the numbers were available in the downloadable files so it was easy to build a portfolio of properties to an income profile that suited you. Now that's impossible as this new percentage value is not present in any downloadable file.
I'd rather they simply increased the provisions in the costs section so we can all see where and how much money is being retained to rebuild the SPV's financial strength.
This is becoming a bit too 'black box' for me. I quit Funding Circle when we were no longer allowed to choose our own loans. I wonder how long before PP decide we should all be in one of their investment plans?
Exactly this. I don't get why they can't just calculate and publish dividends on actual rent received, costs incurred and provisions set aside, on an individual property basis. Investors can then decide whether to invest or not and at what price. That would really help price discovery.
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Post by andrewrt on Oct 18, 2020 16:20:39 GMT
. I don't get why they can't just calculate and publish dividends on actual rent received, costs incurred and provisions set aside, on an individual property basis. Investors can then decide whether to invest or not and at what price. That would really help price discovery. [/div][/quote] At the end of October they will start to publish actual revenue performance - a step in the right direction. Hope they can then start to be more dynamic with their dividends
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