Countryside Properties Dividends - CSP

Countryside Properties Dividends - CSP

Best deals to access real time data!
Monthly Subscription
for only
Level 2 Basic
Monthly Subscription
for only
UK/US Silver
Monthly Subscription
for only
VAT not included
Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Countryside Properties Plc CSP London Ordinary Share GB00BYPHNG03 ORD 1P
  Price Change Price Change % Stock Price Last Trade
10.00 3.11% 332.00 16:29:57
Close Price Low Price High Price Open Price Previous Close
332.00 324.80 333.60 325.20 322.00
more quote information »
Industry Sector

Countryside Properties CSP Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

sif12: Dont think you can fault the management here, but as i mentioned earlier in terms of numbers at best theyll match revenue from first half meaning 16 pence. i think More realistically theyll get to 12 pence total. assuming no further waves of c19. And yes if we're considering forward look lets say they can get to 8 pence for first half 20/21 and 12 pence for second half? at 20 pence even if you apply a forward PE of 10.. you still only get to a share price of 200. Factor in buyers will be looking for discounts. So maybe worth holding for now, but as a new entry price Id be looking for 150-200.
silkstag: Rampaging losses and negative cashflow, not priced in. Build costs are now 30% up and slower. Value of development land plummeting. Sale prices under attack as multiple unsold units. Customers can smell blood so will demand big discounts. Target share price downgrade to 185p is inevitable imho. DYOR.
silkstag: Half year results to 31-3-2020 now due 14 May - almost a month later than H1 2019. Lets see what they have to say about order book, reservations rate, completions (only March harmed), net debt. Share price shot up 100p in past month and I expect that 100p to disappear over the next month. Not CSP management fault. I doubt home counties families are in the mood for viewings, the biggest asset spend of their life and paying top dollar. Grim 12 months ahead for CSP. Not yet priced in. All imho. DYOR.
bogdan branislov: Can't be specific, I think that awareness of CSP and the attractions of its partnership business model has been steadily growing over the past year, the fact that Woodford offloaded easily without a price dive suggested a lot of underlying support and interest in CSP. Last but not least, many if not most private investors have been hanging back in cash until after the election, they are now buying in, CSP is at the top of a lot of private investors' buy lists, this should go on for weeks, not quite like today obviously, but more steady gains to come I suspect. Whilst the right thing to do was to stay invested during the election, the next best things is to build a position now asap. But investors don't tend to think like that, they don't like to buy straight after a 5% or 10% gain, so they wait for a dip, they feel better buying into a dip even if the wait for the dip takes a while and they end up paying more by waiting. Consequently, every short dip in CSP's share price will likely be followed by aggressive buying, probably well into the new year. If you had the foresight to spot CSP's value before now and the patience and fortitude to sit tight during the politcal and market uncertainty, then you have earned your gains, they are fully deserved, don't sell yourself short by selling too quickly. I have this suspicion that CSP will become a popular highly priced stock in time, at this point I will exit of course. I will no doubt top slice a little when we reach a fair price, perhaps 70% up from where we are now - i.e. about 70% up from the current price of c465p, but I will allow a portion of my holding to run on onto more expensive territory - probably well over 1,000p, before exiting fully. Bogdan
bogdan branislov: More than happy with these results. Still using their fictional way of calculating ROCE where they remove the intangibles out of the equation. But how can you remove intangibles form the ROCE calculation when the acquisition, to which the intangible assets relate, was paid for with real capital. CSP say that their approach is valid and the ROCE methodology is not statutory, which is actually correct. So we agree to differ - the real number is mid to high 20s%, which is a great number in itself, so why torture the data! Other than that all good. Margins a little better than I expected, order book and growth in land bank/build contracts solid. The key number, which analysts and results highlights ignore these days was the key metric according to Ben Graham - what does he know! - is the growth in shareholder funds. Often companies showing earnings growth show little or no growth in balance sheet equity, i.e. shareholder funds, so nothing extra ultimately left over for shareholders after the dividend. CSP shows growth in shareholder funds of between 13% and 14%, great to see. Currently my largest holding, just slightly larger than my MGNS holding, CSP will remain my largest holding, I see the share price moving up substantially over the next 2 to 3 years - I would be disappointed and a little surprised if the share price did not double bag over the next 3 years - as with all high quality but very under priced stocks, you get huge upside potential alongside considerable margin of safety, that is how you make money from stocks.
blueclyde: Barratt Developments put out a decent set of numbers today which confirms the U.K. housing market is fine. Slight pull back but is up 30 percent year to date.We know Countryside are fully reserved for the full year. This share price is going to make a big move soon perhaps when the full year results are spelt out to the market.
bogdan branislov: I think that the statement is okay actually. Bear in mind that the first half of the year was well ahead of the previous year and the construction schedule suggests that the final quarter should be well ahead also. Woodford is likely to have to unload, but it may well be another block transfer to another fund(s). The profit growth for this year is forecast to be decent, but there is a lot going on with the business and the full extent of CSP's profit growth and the underlying balance sheet equity growth won't be fully clear until the year end results. Seeing the year end results linked to a clearer outcome timetable for Brexit and the resolution of the Woodford holdings would clear the way for CSP to re-rate significantly. All should become clear over the next few months. In the meantime, CSP is selling very cheaply relative to its growth projection, giving investors a considerable margin of safety. The recovery in the share price, will happen at some point and is likely to rapid when it does. Those waiting on the sidelines are likely to lose out. Remember that share prices climb the 'wall of worry'. By the time all factors becomes fully clear, the share price could easily be twice the current level and not at such a great entry point. Bogdan
blueclyde: Hi Bogdan. Thanks for confirming what I was thinking! The acquisition so further fuel huge growth it just remains to be seen how much of the 40% growth in properties falls into percentage profit increase. Even if it is 20% then I believe the share price currently on a PE of 10 should quickly move by as much to maintain that PE. I also see the dividend of 10p last year covered by 30p of earnings. I don't see them needing all that cash as they ramp up out put they coulda easily make the dividend 20p what would also support a share price north of 400p too.
blueclyde: Perhaps we will see the share price move substantially with the results in May. Would be surprised if it didn't move up to it's all time high in the 380s by then.
bogdan branislov: Politically uncertainty and the fact that house builders in general are strongly suspected of not making sufficient cost provisions for higher cost replacement land against current sales - boosting short term profit levels, but taking a big margin risk later in the cycle as the higher cost of the replacement land will have to be borne in full down the track. Cyclical ineptitude is almost an accepted tradition for conventional house builders. What has this to do with CSP given their predominantly partnership based model? Not much, but the market still lumps CSP in with other house builders and is only starting to wake up to CSP, as the almost complete lack of previous activity on this BB demonstrates. In terms of price target. I use a Neff total return for this type of company - (average annual growth rate forecast for the nest 2 years + current yield), divided by the cash or debt adjusted trailing year PE ratio. A kind of inverted PEG but factoring the divi into the total return. CSP, based on the official forecasts, has a Neff ratio of about 1.5. A Neff ratio of 0.5 is usually considered fair value, neither attractive nor over priced. O.7 or higher is getting interesting, above 1, which is a demanding threshold, suggests a real bargain. 1.5, when the business model is sound is compelling. But of course the 1.5 for CSP is nonsense. The broker forecasts are hugely conservative for CSP, the real Neff ratio for CSP is probably well above 2. The price could go up 150% now and while CSP may, at 150% above current price, at first glance look costly relative to conventional house builders, when you actually drill down into the numbers and CSP's growth profile, CSP would still not be expensive at 150% higher than the current price. CSP should five bag over the next 4 years or so. Given the pipeline, the growth must continue as the local authority partners will want their houses built, it is not like sitting on a land bank. Best for shareholders if the share price steadily begins to catch up to its fair valuation, the fair value obviously increasing year on year with the growth, without ever over shooting it as the expansion continues. Say, 70% share price growth this year and next, compounding, followed by say, 50% per annum compounding for each of the 2 years after that, that would get us there nicely. Cloud Cuckoo you may think! Well, with 10 years of SIPP investing this coming May, my gains have tipped over the 1,000% mark now. If there are relatively low risk growth bargains out there, I do tend to find them. CSP is as compelling as they come. Bogdan
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20200923 20:52:04