| Date | Subject |
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28/5/2021
15:44 | carcosa: melody999, The RNS's were correctly coded as LSE: WJG. If you were not getting it then either check your own settings or your service provider.
The full set of codes were:
LSE:WJG GB00BD6RF223 Z/LSE F/ROI C/AU C/CA C/GB C/JP C/US C/ZA R/MA R/AP R/EU R/AM
So if you are filtering on one of the other codes, that could be why you not saw it.
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28/5/2021
14:44 | rik shaw: It came through OK for me as WJG using Investigate. You might want to check your settings.
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28/5/2021
12:35 | melody9999: on the RNS, my Investegate Alerts list features WJG, but did not pull through the WJG RNS because it was headed Peel Hunt. To say this RNS was not material to the share price for WJG is clearly wrong.
I think WJG should have released the RNS, not Peel Hunt
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28/5/2021
08:28 | investor0109: Agree, believe a buying opportunity today and bright future ahead. Seems long-term plan of Watkin family handover now complete with institutions taking greater stake. Believe this is beginning of transformational period for WJG.
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27/5/2021
07:48 | kadvfn1: Of far more relevance to me is that institutional demand for BTR hit a record £1.23bn in the first quarter of 2021, highlighting a strong recovery in confidence following last year’s Covid-19 induced market softness. Watkin Jones is developing 5,008 apartments which have a GDV of £950m, including a site in Edinburgh (524 flats) that was secured after the 31 March half-year end. It’s easy to see why the asset class is proving attractive to investors.
Across the UK, occupancy levels are above 90 per cent, rent collection rates have exceeded 95 per cent since the start of the pandemic, and with household sizes forecast to reduce by 2.4 per cent by 2041, there will be a need for an extra 240,000 homes in the next 20 years. Also, BTR residential property provides a hedge against inflation and a widening yield gap over 10-year government bond yields, thus offering decent prospects for both capital and income growth in a zero-interest rate policy environment. The directors note that their Leicester scheme (185 flats) has been brought forward to the current year and the marketed pipeline of forward sales is proceeding well.
They also flag up that institutional investment in PBSA, around £715m in the first quarter of 2021, is well above pre-Covid-19 levels. The group is developing 8,500 beds with a GDV of £625m, of which all 3,192 beds for delivery in the current year have been forward sold as well as 60 per cent of next year’s output, too.
The profits earned from developing properties for institutional investors – BTR has a targeted profit margin of 15 per cent and PBSA 20 per cent – combined with an asset light business model – the investor funds the development, thus de-risking the investment case – means that the board can continue to recycle excess cash flow back to shareholders. Indeed, analysts at Progressive Equity expect a near 10 per cent hike in the 2022 dividend to 8.5p a share, covered two times by forecast EPS of 17.4p. On this basis, the shares are still only rated on a forward cash-adjusted PE ratio of 11.6, and offer a prospective dividend yield of 3.6 per cent. I raise my target price to 275p. Buy
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27/5/2021
07:47 | kadvfn1: From investor chronicle
Shares in Watkin Jones (WJG:236p), a developer specialising in purpose-built student accommodation (PBSA) and build-to-rent (BTR) housing, have continued to recover strongly this year and earlier this month achieved the top end of my 240p to 250p target range (‘Watkin Jones recovering strongly’, 19 January 2021). First half results to 31 March 2021 were in line with analyst expectations which point to high-single digit growth in annual pre-tax profit, earnings per share (EPS) and dividend to £50m, 15.8p and 7.8p, respectively.
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26/5/2021
17:11 | clausentum: ST says:
"The profits earned from developing properties for institutional investors – BTR has a targeted profit margin of 15 per cent and PBSA 20 per cent – combined with an asset light business model – the investor funds the development, thus de-risking the investment case – means that the board can continue to recycle excess cash flow back to shareholders. Indeed, analysts at Progressive Equity expect a near 10 per cent hike in the 2022 dividend to 8.5p a share, covered two times by forecast EPS of 17.4p. On this basis, the shares are still only rated on a forward cash-adjusted PE ratio of 11.6, and offer a prospective dividend yield of 3.6 per cent. I raise my target price to 275p. Buy."
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18/5/2021
10:46 | investor0109: Robust half year results for WJG and future looking bright. COVID turmoil well-navigated by board, with WJG low-risk model coming into its own past 12 mos. 'Increasing investor confidence' in sector and healthy future pipeline puts stock in WJG around 260-280p fair current value in my view, with 280-320p within coming 12 mos. all being well.
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27/1/2021
13:30 | sphere25: Thanks 2theduke.
Missed that. Dividends! Oh yes, remember those? Almost a forgotten things with the way things have been.
Slipping - clearly watching too many things!
Bizarrely the dividend is incredibly inconvenient considering the price is bang on the chart resistance with the bid building nicely. The setup was there for the breakout. The way this moves, it could have been a ferocious one too - considerably outstripping the dividend amount.
It now depends on the whether the market buys up the dividend amount tomorrow to bring us back into the same strong position or at least above the technical 195p mark. Some of the buying will have naturally been for the dividend too and you can sometimes have the bid fall away in the near term when the dividend buyers move aside. Tend to see that with many shares with DLG being a typical example.
It's a tricky one now from a short term trading perspective.
Only have a small position, was looking to add on the breakout but all change now. See how it moves tomorrow with the gap down in the morning. If it gets bought up, will hang on. Exit if it looks weak and re-try at that next support level at that 185p mark.
I'll be surprised if this doesn't eventually crack this recent high so a different ball game for the longer term holders.
All imo
DYOR
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19/1/2021
13:23 | investor0109: toptomcat- many thanks, his closing statement here: 'Analysts at Progressive Equity Research are predicting current year EPS of 15.8p, rising to 17.4p in 2021/22 and pencil in respective dividends per share of 8p and 8.7p. On this basis, the shares are rated on a modest price/earnings ratio of 12.8 falling to 11.6 and offer an attractive prospective dividend yield of 4 and 4.3 per cent, respectively. Mr Simpson also notes that financial distress in the leisure, retail and office sectors will enable Watkin Jones to make opportunistic purchases of new sites at favourable prices, another bull point.
From a technical perspective, the shares have broken out of the 183p upper ceiling of the post stock market crash trading range as I predicted back in November. I have no reason to change my strong buy recommendation, nor my 240p to 250p target price. Strong buy.'
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PLUS1
