Harworth Share Discussion Threads

[skyship] 20/4/2020 13:21

Riverman - exactly the case with Private Equity; no difference whatsoever. Lumpy gains; so sometimes dividend uncovered and paid out of capital; secure in the knowledge of a growing NAV to even out over time.

HWG model is there to reward the directors, not the shareholders.

About time the directors woke up to their responsibility to award shareholders their just returns.

[riverman77] 20/4/2020 12:24

I think HWG needs to be viewed as any other growth company, so profits reinvested in the business rather than paid out to shareholders. The business model is not naturally income producing - capital gains are realised on the sale of developed land, but not much in way of regular income streams which would support a dividend.

[skyship] 17/4/2020 12:12

Notional dividend yield on INL = 6.2%

Notional dividend yield on HWG = 1.1%

[skyship] 17/4/2020 12:09

Tempted, especially as both Tilts and Riverman are bulls; however I hate the business model. So totally outdated to think that growing the NAV will keep shareholders happy.

NO! Shareholders either need a good yield or a return of capital.

Just growing for the sake of it is good for the directors who can charge higher fees based upon Net Assets; but, as we have seen with the Private Equity trusts, management need to pay more respect to their shareholders these days.

Riverman - you state: "...long-term performance has been superb - consistent doubles digit NAV returns..." So what? If shareholders don't share in the growth - what's the point!

[riverman77] 09/4/2020 15:55

As you suggest I think this is under the radar somewhat, being that it doesn't officially sit in the house building or the Reits sectors. Probably doesn't get the rating it deserves because of its lumpy revenues and very low dividend. But long-term performance has been superb - consistent doubles digit NAV returns, and less cyclical than the housebuilders.

[riverman77] 09/4/2020 14:26

Yes, all the other housebuilders have rallied strongly over past few days and this has not moved. OK, not a housebuilder as such, but other property related stocks also rallied (eg Forterra), so would expect this to catch up before too long. Very good quality company.

[its the oxman] 08/4/2020 15:17

Looking cheap and forgotten sub 100p or am I missing something. Feels due a 20p bounce.

[dekle] 31/3/2020 09:46

RGL confirmed they will pay the dividend and reported on current situation

[tiltonboy] 18/2/2020 16:12

Just love this company:

hxxps://harworthgroup.com/2020/02/18/harworth-completes-further-letting-at-flagship-manufacturing-site/

[dekle] 04/2/2020 14:52

Hermes are having a distribution centre built near M1 in Barnsley, 363,000sq ft (8 football pitches). Wonder if this is Harworth land?

[tiltonboy] 03/2/2020 15:12

And another:

hxxps://harworthgroup.com/2020/02/03/multiply-logistics-north-secures-third-letting-in-six-weeks-as-market-remains-strong/

[tiltonboy] 29/1/2020 08:07

dekle,

Don't hold your breath waiting for large distributions from HWG. It's a capital growth vehicle, and they re-invest into future projects, rather than pay the income out.

HWG has provided in excess of 100% return in three and a half years. RGL have provided a return of 62.5% over the same period.

[dekle] 29/1/2020 07:11

RGL published an update today that bodes well for HWG revised NAV. RGL and AEWU both have a much more substantial dividend than HWG.

[tiltonboy] 27/1/2020 08:05

hxxps://harworthgroup.com/media-centre/

[dekle] 21/1/2020 15:21

The revision of asset valuations should provide an impetus and if they increase the dividend to a more competitive level it would also help.

[loafofbread] 21/1/2020 08:27

This is a fantastic company but surely up with events?

SP above NAV for the first time and a warning in the outlook about 'delivering lower returns' over the next few years.

JW still has to off load his 15% to pay for the Intu RI.

As a trade I am now out as I can't see any more upside for a while.

Good luck as a safe investment to park your money.

[dekle] 20/1/2020 10:24

Could they just be broker cross buys/sells since there appears to be no great impact on the price?

[finkie] 20/1/2020 09:52

800,000 bought early in 100-200k chunks at 157.5p hurry up and take this over for 220p someone!!! ;-)

[solarno lopez] 20/1/2020 08:08

Yes a decent article but not followed through on the share price as yet

[tiltonboy] 19/1/2020 09:00

Decent article.

[loafofbread] 18/1/2020 22:53

Midas Tip.

Mail On Sunday.

[tiltonboy] 15/1/2020 08:18

More letting news:

hxxps://harworthgroup.com/2020/01/14/multiply-logistics-north-makes-strong-lettings-progress/

[solarno lopez] 14/1/2020 11:59

Thanks Finkie and appreciated

[finkie] 14/1/2020 09:21

I was being facetious!!! Peel have owned up to the max threshold for a few years and have board representation they are the natural takeover party.

I thought they would have moved on HWG much earlier when it was half the price and not so rosy in the garden...