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First Property (FPO) AI Stock Analysis

GB:FPO

First Property

(LSE:FPO)

Select Model
Rating:65Neutral
Price Target:GBX 17.50â–²(7.69% Upside)
Action:reiterated
Date:09/23/26

The score of 65 is driven primarily by attractive valuation at a low P/E and balance sheet strengthening, partially offset by cash flow volatility and overbought technical conditions.

Positive Factors
Revenue and Profit RecoveryThe return to revenue growth alongside two consecutive profitable periods indicates improved operating performance after the 2024 loss. If this momentum persists, stronger earnings can support reinvestment in the property portfolio and provide a more durable base for shareholder returns.
Negative Factors
Weak Cash ConversionThe large gap between reported profit and operating cash flow indicates that accounting earnings are not currently translating into liquidity. Persistent weak conversion can constrain investment, dividends, and debt servicing, while increasing dependence on timing effects, working-capital movements, or non-cash gains.

First Property (FPO) vs. iShares MSCI United Kingdom ETF (EWC)

-30%-20%-10%0%10%20%30%GB:FPO+6.82%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
GBP 24.02M
Dividend Yield
1.54%
Average Volume (3M)
80.13K
Price to Earnings (P/E)
8.9
Beta (1Y)
0.55
Revenue Growth
15.45%
EPS Growth
8.98%
Country
UK
Employees
41
Sector
Real Estate
Sector Strength
65
Industry
Real Estate - Services

First Property Business Overview & Revenue Model

Company Description

First Property Group plc operates as a real estate investment enterprise, delivering a broad spectrum of services to the property sector. Based in London, UK, its activities span the United Kingdom and wider European regions. The company specializes...

How the Company Makes Money

First Property primarily makes money from (1) rental income generated by leasing its commercial properties to tenants under lease agreements and (2) capital appreciation and realized gains from the sale of properties when market conditions or asset-m...

First Property Financial Statement Overview

Summary

Improving balance sheet with reduced debt and growing equity provides stability, supported by projected revenue growth, though offset by volatile cash flows and inconsistent profitability.

Income Statement

65Positive

Balance Sheet

75Positive

Cash Flow

50Neutral
Financial statement breakdown
BreakdownTTMMar 2025Mar 2024Mar 2023Mar 2022Mar 2021
Income Statement
Total Revenue8.72M8.72M7.55M7.85M7.25M8.64M
Gross Profit4.99M4.99M4.82M4.97M4.99M5.72M
EBITDA3.17M4.31M4.16M-3.56M3.12M7.50M
Net Income2.68M2.68M2.14M-4.58M1.92M6.78M
Balance Sheet
Total Assets69.90M69.90M78.71M75.81M83.48M76.98M
Cash, Cash Equivalents and Short-Term Investments6.95M6.95M4.82M4.63M7.65M6.42M
Total Debt9.14M9.14M9.45M10.59M13.37M15.03M
Total Liabilities19.18M19.18M31.39M34.88M38.01M33.99M
Stockholders Equity48.22M48.22M45.09M38.98M43.44M42.77M
Cash Flow
Free Cash Flow187.00K187.00K-582.00K-1.30M2.45M-3.12M
Operating Cash Flow199.00K199.00K856.00K398.00K3.48M-1.44M
Investing Cash Flow3.75M3.75M-77.00K-840.00K2.76M-4.28M
Financing Cash Flow-1.86M-1.86M-575.00K-2.66M-5.09M-4.08M

First Property Technical Analysis

Technical Analysis SentimentPositive
Last Price16.25

Price Trends

50DMA14.76Positive
100DMA13.54Positive
200DMA14.21Positive

Market Momentum

MACD0.44Positive
RSI74.48Negative
STOCH50.00Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:FPO, the sentiment is Positive. The current price of 16.25 is above the 20-day moving average (MA) of 16.02, above the 50-day MA of 14.76, and above the 200-day MA of 14.21, indicating a bullish trend. The MACD of 0.44 indicates Positive momentum. The RSI at 74.48 is Negative, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:FPO.

First Property Peers Comparison

Overall Rating

UnderperformOutperform
Sector (65)

Financial Indicators

GB:FPO against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
GB:CDFFGB:CDFF73OutperformGBP 27.15M20.994.34%1.09%3.71%29.79%
Sector *65Neutral$2.17B12.193.79%4.94%3.15%1.96%
GB:FPOGB:FPO65NeutralGBP 24.02M8.935.63%1.54%15.45%8.98%
GB:PNSGB:PNS62NeutralGBP 50.01M16.662.55%4.14%-0.65%-58.16%
GB:GR1TGB:GR1T52NeutralGBP 30.58M-0.48-27.53%―――
GB:DCIGB:DCI49NeutralGBP 42.97M-25.64-1.75%―――
GB:PSDLGB:PSDL49NeutralGBP 108.79M-45.94-1.18%―――

* Real Estate Sector Average

Performance Comparison

-20%0%20%GB:FPOGB:CDFFGB:DCIGB:PNSGB:PSDLGB:GR1TDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
GB:FPO and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
GB:FPOFirst Property16.251.046.82%
GB:CDFFThe Cardiff Property2750.00178.646.95%
GB:DCIDolphin Capital Investors4.75-0.41-7.95%
GB:PNSPanther Securities290.007.192.54%
GB:PSDLPhoenix Spree Deutschland Ltd128.00-28.61-18.27%
GB:GR1TGrit Real Estate Income Group Limited6.150.7012.84%

First Property Corporate Events

Business Operations and StrategyFinancial Disclosures

First Property Group Sets Date for Interim Results and Investor Presentation

Neutral
Oct 19, 2026

First Property Group plc will publish its interim results for the six months ended 30 September 2026 on 26 November 2026, in a move that will update the market on the performance of its property fund management and investment activities. The company...

Business Operations and Strategy

CEO-Linked Associate Increases Stake in First Property Group

Positive
Oct 7, 2026

First Property Group plc reported that its associate company Fprop Phoenix Limited has purchased 300,000 ordinary shares in the Group at 15 pence per share, lifting Phoenix’s holding to 1,600,000 shares, or around 1.08% of voting rights. Becaus...

Business Operations and Strategy

First Property CEO Ben Habib Increases Effective Stake After Associate Buys Shares

Positive
Sep 28, 2026

First Property Group reported that its associate, Fprop Phoenix Limited, in which the Group holds a 23.78% stake, bought 100,000 First Property ordinary shares at 15 pence each on 25 September 2026. The purchase lifts PHO’s holding to 1.3 milli...

Business Operations and Strategy

First Property CEO’s Indirect Stake Rises After Associate Share Purchase

Positive
Sep 25, 2026

First Property Group’s associate Fprop Phoenix Limited has bought 550,000 ordinary shares in the company at 15 pence each, lifting its beneficial interest to 1,200,000 shares or about 0.81% of voting rights. The transaction was executed on the...

Regulatory Filings and Compliance

First Property CEO’s Indirect Stake Rises After Associate Share Purchase

Neutral
Sep 25, 2026

First Property Group plc has disclosed that its associate Fprop Phoenix Limited, in which the Group holds a 23.78% stake, purchased 100,000 ordinary shares in the company on 24 September at 15 pence per share. The transaction lifts PHO’s benefi...

Business Operations and StrategyDividendsShareholder Meetings

First Property passes core AGM resolutions and confirms dividend after pulling capital-raising powers

Positive
Sep 24, 2026

First Property Group said all resolutions put to shareholders at its Annual General Meeting on 24 September were passed on a poll, after it withdrew three proposals related to share issuance authorities, pre-emption rights and share buybacks ahead of...

Business Operations and StrategyDividendsFinancial DisclosuresShareholder Meetings

First Property restores dividend as recovery strengthens balance sheet

Positive
Sep 24, 2026

First Property Group said its performance continued to recover in the year to 31 March 2026, with rising profits and a stronger balance sheet underpinning its niche focus on higher-yield commercial property in the UK and Central Europe. The AIM-quote...

Business Operations and StrategyStock BuybackShareholder Meetings

First Property pulls share issuance and buyback resolutions ahead of AGM

Negative
Sep 24, 2026

First Property Group has withdrawn three resolutions from its Annual General Meeting after determining they would be unlikely to secure sufficient shareholder support. The withdrawn items covered authority to allot new shares, disapplication of pre-e...

Other

First Property CEO Ben Habib lifts deemed stake after associate share purchase

Positive
Sep 23, 2026

First Property Group said its associate Fprop Phoenix Limited bought 250,000 First Property ordinary shares at 14 pence each on 22 September, lifting PHO’s holding to 550,000 shares, or about 0.37% of the company’s voting rights. Because...

Financial DisclosuresShareholder Meetings

First Property Group sets hybrid AGM and publishes 2026 annual report

Positive
Aug 17, 2026

First Property Group has called its Annual General Meeting for 24 September 2026 at its London registered office, with proceedings also accessible via the Investor Meet Company online platform to broaden shareholder participation. Shareholders are en...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 23, 2026