Share Name Share Symbol Market Type Share ISIN Share Description
Watkin Jones LSE:WJG London Ordinary Share GB00BD6RF223 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +3.25p +1.66% 199.50p 198.75p 199.50p 202.00p 193.50p 193.50p 537,948 16:29:54
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate 267.0 13.3 3.1 63.9 509.26

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Date Time Title Posts
28/6/201712:15::: WATKIN JONES - buildings for students993
30/3/201610:05Watkins Jones-

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16:14:42199.493,2626,507.40O
16:14:41196.651,5603,067.71O
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16:10:41198.44187371.08O
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DateSubject
28/6/2017
09:20
Watkin Jones Daily Update: Watkin Jones is listed in the Real Estate sector of the London Stock Exchange with ticker WJG. The last closing price for Watkin Jones was 196.25p.
Watkin Jones has a 4 week average price of 172.50p and a 12 week average price of 154p.
The 1 year high share price is 203p while the 1 year low share price is currently 99.50p.
There are currently 255,268,875 shares in issue and the average daily traded volume is 572,125 shares. The market capitalisation of Watkin Jones is £509,261,405.63.
19/5/2017
19:41
jg88721: investors champion at #908 of course, it worked for both parties, the instos to get more stock and the trust to get some cash out (and diversify or distribute). I think Mark W-J has stated, in one of those interviews, that was a reason for the IPO in the first place, IIRC? And if one looks at the share price reaction, and the instos buying further shares, since the placement, the stated reason for the placement (to "meet demand from new and existing shareholders and to improve the liquidity of the Group") as been demonstrated in fact, IMHO. But, I think you already know all that. ;)
02/5/2017
21:50
dibbs: Thanks Alan, nice to see Simon Thompson continues to see value here despite a decent appreciation of share price of late. Dibbs
02/5/2017
17:02
alan@bj: From Simon Thompson, IC:- Shares in Watkin Jones (WJG:176p), a construction company specialising in purpose-built student accommodation, have now passed through my upgraded 170p target price, having risen by 21 per cent since my last buy recommendation five weeks ago ('Five small-cap buys', 29 Mar 2017). It's a business I know well, having advised buying around the 103p mark when the company joined Aim just over a year ago ('A profitable education', 3 Apr 2016). Recent trading highlights why investors have re-rated the shares. In the year to date, the company has sold five student accommodation developments, representing 2,347 beds in total and a gross development value of £192m. This means that all the developments planned to be completed by September 2017 and five of those planned for the following financial year have been forward sold. Moreover, a further six developments totalling more than 1,705 beds are under offer and in legal negotiations which, when concluded, will see all the developments planned to be completed by September 2018 forward sold. Progress on the pipeline further out is equally impressive. Watkin Jones is also making good headway in the private rented sector, having completed a 322-bed scheme in Leeds and secured a 132-unit development site in Sutton. It is currently working on a number of planning applications and other site acquisition opportunities. The point being that since joining the junior market the pipeline has been significantly de-risked, so much so that analyst expectations of a 7 per cent increase in EPS to 13.3p in the 12 months to the end of September 2017, rising to 14.5p in the 2017-18 financial year, look in the bag. It also means that the free cash flow is likely to be around £40m this year, which more than twice covers the cash cost of a forecast payout per share of 6.3p, based on estimates from analysts Mark Hughes and Hannah Crowe at research firm Equity Development. On this basis, Watkin Jones' shares are rated on a forward PE ratio of 12 for the 2017-18 financial year, or just 10.5 times after you factor in a cash pile that is expected to almost double to £60m by September 2017, a sum worth 23.5p a share. That's still not a punchy rating and I feel that there is scope for the shares to re-rate nearer to a cash-adjusted forward PE ratio of 12, suggesting another 10 per cent share price upside to around 195p. So, ahead of the half-year results on Thursday 1 June 2017, I would run your healthy profits on what has been a cracking investment. Run profits.
26/4/2017
17:16
3800: Given the near vertical rise in the share price chart since January where does the the consesus of opinion think the top will be? I have to say I haven't a clue but what goes up quickly tends to fall even more rapidly. 3800
19/4/2017
16:58
jonwig: See Annex 1 - I imagine one of their funds was near to their internal limit. The WJG share price edged up pushing them over. Just my thought!
30/3/2017
09:21
rivaldo: FYI here's the text of yesterday's tip by Simon Thompson: "Watkin Jones buying opportunity CareTech is not the only company on my active buy list that has conducted a major fundraising. The same is true of Watkin Jones(WJG:145.5p), a construction company specialising in purpose-built student accommodation (PBSA). It's a company I know well, having advised buying the shares around the 103p mark at the time it joined Aim last year ('A profitable education', 3 April 2016). I last rated the shares a buy at 134.5p a couple of months ago ('In the ascent', 23 January 2017) and my upgraded target of 155p was surpassed earlier this month when the price hit an all-time high of 162p. However, last week's placing of 49.25m shares at 140p by a family trust in which chief executive Mark Watkin Jones is a beneficiary, and the sale of 1m shares by finance director Philip Byrom, has led to a sharp pullback in the share price. It looks overdone, though, as Mr Watkin Jones still has an interest in over 29 per cent of the share capital, and Mr Byrom only sold less than a quarter of his holding, while liquidity in the shares has improved as new investors have come on board, including fund manager Woodford Investment Management, which snapped up 10.2 per cent of the shares in issue. Indeed, I feel that when the dust settles investors will focus once again on the sound fundamentals of the business, which has driven the share price higher since listing. Namely, the company has 21 developments with 6,800 beds slated for delivery during 2017 and 2018 and the pipeline beyond 2018 is robust - future earnings have been de-risked through forward sales of schemes to institutional investors, including all 10 projects due to be delivered this year and the profits and hefty cash generation realised from these schemes supports a highly progressive dividend policy. In my view, it now looks a rock solid bet that Watkin Jones will grow EPS by around 10 per cent to 13.7p in the 12 months to 30 September 2017. So, with profits rolling in, and net funds of £32.2m on the company's balance sheet worth 12.6p a share, a 50 per cent-plus hike in the dividend per share to north of 6p looks on the cards. This implies the shares are trading on around 10.5 times likely earnings and offer a prospective dividend yield in excess of 4 per cent. In my book, that represents value and offers ample upside to my new price target of 165p to 170p, so I continue to rate the shares a buy."
24/3/2017
07:29
rivaldo: Indeed, perfectly standard practice. Bit disappointed they couldn't get 145p or above, but I suppose the institutions demanded their pound of flesh. I suppose this was to be expected and could have been mitigating share price progress to an extent. Let's hope WJG have given the new investors good reason to take such a big interest in the company.
23/3/2017
20:30
bestace: I got the email alert from Investegate, but it looks like Peel Hunt was the issuer of the RNS hence why it's not appearing under the WJG ticker. I suppose if they didn't go down the accelerated book build approach, the alternative would be a steady drip feed of sales over a long period of time, which would definitely have a protracted overhang effect on the share price. Surely better for everyone to get the sale out of the way in a big bang approach - the sellers get a better price, buying institutional shareholders get to buy in bulk stakes which might otherwise take them months to build, and existing shareholders don't suffer from a long overhang.
09/3/2017
09:48
alan@bj: This piece from today's Times (indicating a strong appetite for its type of asset) may explain the rise in WJG's share price yesterday:- "When Unite Group, the student accommodation specialist, agreed to pay £227 million for assets on the campus of Aston University, Birmingham, in the middle of last month, the company indicated plans to sell £150 million to £200 million-worth of properties in less high growth areas. The sale yesterday of Woburn Place, in central London, for £135 million, of which Unite will receive £67.5 million, just about completes that process, and quicker than the market had been expecting."
21/9/2016
22:29
spellbrook: Questor share tip: Students driving demand for halls... and pubs Rhiannon Bury 21 SEPTEMBER 2016 • 9:14PM As the new university term begins this weekend, we take a look at two of the sectors most affected by students: halls and pubs. Student accommodation Increasing numbers Student accommodation developers have benefited in recent years from an increase in student numbers, particularly from overseas. Figures from UCAS show a total of 532,300 people entered UK higher education in 2015, 3.1pc more than in the previous year and the highest number recorded. The number of international students is expected to double globally by 2025, and the UK is the second largest destination for students from overseas, behind the US. The numbers have managed to weather the introduction of increased tuition fees in 2012 and the weakened economic environment, and seem to be showing no sign of abating, despite a looming threat of the UK’s exit from the European Union. ADVERTISING Brexit is an unknown for student accommodation developers because there is little clarity the access that EU students will have to UK universities, although the Government has suggested that funding will be protected, at least in the short term. In any event, EU students make up only around 7pc of the total student population, so even a severe drop-off in numbers is unlikely to affect the overall strength of the sector. Announcing its results for the year to June 30 last week, Empiric Student Property said its next move was to target more affordable living options for second and third year undergraduates in order to diversify its offer. It estimates that 91pc of students have no access to purpose-built halls after their first year. But despite doubling the value of its portfolio in the period, total return for the group was “negatively impacted” by June’s European Union referendum, Empiric said. The company’s share price dropped from 113.25 on June 24 to as low as 100p in the days after the vote but has since recovered. Empiric has also improved its capital structure, and in the year raised £286.4m of equity in three separate fundraisings, as well as securing £120m of new debt financing. It has also launched its own operating and marketing platform, called Hello Student. Empiric Nottingham Empiric's scheme in Nottingham CREDIT: EMPIRIC Limited supply Although the number of students has been increasing, universities have not built halls at the same rate. Many institutions have policies which promise to provide accommodation for all first year students, which in some cases has resulted in universities having to house students in hotels because of a lack of purpose-built beds. Unite Students has been providing student accommodation for 25 years, so while this is not a new concept, demand does seem to be holding up. Its strength is in its predictable rental growth and scale benefits, which are particularly attractive in an uncertain real estate market. Added to that, analysts at JP Morgan Cazenove said that it thinks Unite is “several years ahead of competitors when it comes to its operating platform and margin development”. Shares in the company have held up well, despite taking a hit following the referendum vote, and today closed at 615p - significantly below the high of 674p they achieved in November last year, but a vast improvement from the 560p post-Brexit vote. Unite Bristol Unite student accommodation in Bristol city centre CREDIT: LOVETHEPHOTO / ALAMY STOCK PHOTO No longer alternative Where investors used to see the student accommodation sector as an alternative investment asset, in the last few years the sector has very much entered the mainstream. Investors such as Legal & General have recently backed major student accommodation development projects, injecting confidence into the burgeoning market. Smaller developer Watkin Jones’ float earlier this year showed that there is plenty of interest in owning a slice of student accommodation developers. The company was today trading at 116p, having floated at 100p. In the days following the referendum it too saw its share price slide, but the recovery suggests that the market is resilient, and expected to grow. Fuller's Pubs By and large the pub sector has had a positive summer, buoyed by the European Soccer Championships and good weather. However, consumer confidence was shaken in the wake of the Brexit vote, and trends for home delivery food mean we’re going out less. Added to that, the introduction of the National Living Wage will increase costs across the industry. While Enterprise Inns’ latest interim results suggested it is on track to meet its targets for this year, it remains highly leveraged and shares in the company have had their ups and downs over the last 12 months. Meanwhile, Fuller’s share price has suffered in recent months amid falling brewing volumes and concerns over its London exposure to hotel and food sales, although its well invested, largely freehold estate is in its favour. Greene King’s freehold backing and low rent roll make it less operationally geared than most of its peers, although like the others, its shares were bruised in the days after the EU referendum vote, down 13pc, losing some of the gains it enjoyed after its £774m takeover of rival Spirit Pub last year. While so far the consumer has continued to spend, the prospect of a recession is not entirely off the cards, so the challenges remain. http://www.telegraph.co.uk/business/2016/09/21/questor-share-tip-students-driving-demand-for-halls-and-pubs/
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