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
  -5.00p -2.48% 196.50p 197.00p 198.50p 202.00p 196.75p 201.50p 279,371 16:35:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate 267.0 13.3 3.1 63.0 501.60

Watkin Jones Share Discussion Threads

Showing 1051 to 1074 of 1075 messages
Chat Pages: 43  42  41  40  39  38  37  36  35  34  33  32  Older
DateSubjectAuthorDiscuss
22/8/2017
10:18
A little bit higher and it's blue sky. Consolidating sideways for 2 months now. Time for the next move up.
x54v
22/8/2017
10:06
Curving up nicely.
someuwin
21/8/2017
13:11
thanks. qp
quepassa
21/8/2017
12:47
Institutional investor appetite growing in the area, expectations of profit and EPS for current year continue to be derisked, company has forward sold all of its developments scheduled for completion by Sept 2018 so good earnings and cashflow visibility. Price has been in tight range since last update, looks to be breaking out now to new highs.
x54v
21/8/2017
12:27
Thanks. That's behind a digital subscriber PayWall and not in last Friday's printed edition. Could you kindly summarise article. thanks. QP
quepassa
21/8/2017
12:26
Try this link.
skinny
21/8/2017
12:07
Just been tipped by Simon Thompson in the IC. https://www.investorschronicle.co.uk/comment/2017/08/21/targeting-a-break-out/
x54v
17/8/2017
15:11
Yep, good to see this consolidation and steadily rising trend. Glad to see the BTR consent obtained whilst I was on hols. Knowing the WJG management style I'm sure they'll approach this in their usual risk-averse manner with forward funding etc.
rivaldo
15/8/2017
11:08
Finally looking like a proper push through 200p.
its the oxman
15/8/2017
09:31
Market cap of WJG now over £half-a-billion. £512 million to be precise. QP
quepassa
14/8/2017
17:32
I think I read something in one of their recent strategy pieces which said that they thought BTR had the potential to be as significant as their main student accom business...that really would transform the value proposition!!
adamb1978
14/8/2017
16:58
I would recommend that you scan the latest Annual Report which talks at length about PRS and WJG's intentions and strategy. For example, pages 13, 14, 15, 16, 17 & 18. hXXp://www.watkinjonesplc.com/~/media/Files/W/Watkin-Jones/documents/watkin-jones-plc-annual-report-2016-v1.pdf However judging by the tone and specifics of today's encouraging RNS announcement, it reads to me as though BTR/PRS is gaining significantly more prominence within WJG's corporate strategy than before. As rightly it should in my view. The Business Model generally speaks to forward-funding. But with a significantly growing net worth and cheap loans available from specialist providers such as the HMG Home Building Fund, it seems to me that WJG should actively countenance prudently increasing levels of debt-funding to grasp this golden opportunity fully, in addition to forward sales. ALL IMO. DYOR. QP
quepassa
14/8/2017
16:33
bestace - I hope you're correct there.
jonwig
14/8/2017
16:09
Previous PBSA developments have been forward sold after planning consents have already been obtained, or even after construction has already started, so I don't see any change of strategy in today's announcement and I think the expectation is that these PRS units will be forward sold at some point. From the interims: "Significant work has been undertaken in preparing the Group’s Build to Rent development specification, which has been essential in order to specify our product offering to potential clients and to enable potential schemes to be appropriately costed." And various comments from the prospectus stress the forward sale aspect of their PRS activities: "The Directors also intend to expand the Group’s business into PRS to capitalise on the similarities of this business with its core student accommodation expertise, engaging its existing relationships with institutional investors to forward fund these projects and minimise development risk to Watkin Jones." "In 2015 the Group took the strategic decision to cease its operations in general construction contracting and focus on student accommodation and multi occupancy private rented sector (‘PRS’) developments... on a forward sale model basis" "the Directors believe that there is a strong market for purpose ‘build to rent’ developments, which could be designed, constructed and forward funded in a similar manner to the Group’s PBSA developments, and would offer similar investment characteristics."
bestace
14/8/2017
15:26
Jonwig its this unusual lack of clarity that has me concerned. I have already accepted that the purchase of the Property Management business from the family was done at a "fair" price but the income from this seems well in the price. but there are many positives.
ugandalad
14/8/2017
14:49
uganda, Glaws - good luck with the development in question! The only direct reference I can find is the one I quoted which is on the company's own balance sheet. (FY 2016 presentation p5.) No other documents seem to reference it, and it must be part of "development land" in the current assets section of the balance sheet. No note that I can find. They could have sold the property with or without planning. Now they have the planning, they seem to be committed to develop. Thereafter they can sell let-ready, or let and self manage. Of course the thing about this is that it could enhance WJG's profitability significantly in 2018-19, since the building is on the books at cost. OK, we can look forward to that, except, as they say "stuff happens". And, in this particular case, their disclosure hasn't been as complete as it could have been.
jonwig
14/8/2017
13:36
The implication of the today's discussion is that the BTR sector is going to be self funded. Perhaps I missed something but I have seen no statement to this effect so am expecting some statement on forward selling of these units st some point. If this isn't the case I'd be grateful if someone could point me in the right direction.
glaws2
14/8/2017
12:31
Have to say I'm cautious on this development as I see it as a sizeable change in risk. At the moment the WJG is only exposed to the Student demand side of the equation in respect of business continuity. Funding and filling the properties is others risk additional income is to be taken from the owners by managing the premises. This venture exposes them to the vagaries of the market, finance risk and regulation. Not saying it won't be profitable but a shortage of housing has been a long time issue and doesn't stop capital and income losses. Obviously institutional funders don't like this market otherwise they could use the same model to finance this part of the business. I.they are a construction company. Property management with the right staff is one thing growing a long term property portfolio in less than prime markets another. I need to research this more.
ugandalad
14/8/2017
09:57
Thank you for your post, jonwig. I fully respect your opinions, although politely disagree with them. Some points to consider. 1. Do we we need new housing? 2. What are projections for the need of housing in the UK? But fundamentally I really believe that the PRS market has not even got off the ground yet. It is as yet a microscopic part of the UK housing mix. Moreover the the Government wants and needs to grow it. By no means , is this a top of the market phenomenon. I would suggest that the PRS market is not even out of the stalls yet. And that is why it is such a new, exciting and compelling opportunity. I would encourage you to read the June HoC Briefing paper for unbiased facts and figures about the PRS/BTR market. It seems to me that WJG are ideally placed to capitalise on the early growth opportunities in this brand new PRS/BTR sector given their great track-record in the student accommodation market which has many similarities and which can be described as being operationally identical. ALL IMO. DYOR. QP
quepassa
14/8/2017
09:32
Indeed - all UK governments (of either hue) have an outstanding track record of predicting markets and delivering on their housing policies! The level of SDLT has driven the PRS market, and there are calls to lower it in the next budget in order to stem falls in house prices and improve market liquidity - the core Tory vote is being invoked. If nothing unpleasant happens to the UK economy in the next couple of years WJG will make a substantial profit on successful completion (the building is on the books at cost), which may tempt it into further such ventures. But this is an old story: leverage up a successful model into speculative development has always been a top-of-market phenomenon.
jonwig
14/8/2017
08:44
Spot on, Adam. Excellent post. Fully concur in all respects. You have hit the nail on the head squarely when you say " I would say that this move into BTR buy WJG is operationally identical". It is effectively more of the same. But potentially a much more massive and exploding market driven by an increasing need for UK housing and a burgeoning sector. For anyone SERIOUSLY interested in this topic, a MUST READ is the HOUSE OF COMMONS BRIEFING PAPER Number 07094 dated 19 th June 2017 entitled "Building the new private rented sector: issues and prospects (England)". Google it and you'll find it. One snippet from this important HoC briefing paper " The PRS is viewed as an essential part of a strong housing market; successive Governments have tried to create and promote a more professional PRS that is more attractive to tenants, developers and investors." ALL IMO. DYOR. QP
quepassa
14/8/2017
08:16
Jonwig Understand your concern about sticking to their knitting - never great when companies veer off uncontrollably in directions which they have no experience in. However I would say that this move into BTR buy WJG is operationally identical so there should be no risk there for them - the risk is just exposure to the capital costs. WJG do have significant experience in delivering these schemes though so I would hope that they are able to assess the costs etc and the scope for nasty surprises be more limited I would also say that I think there is zero value being attributed in the share price for BTR. So anything which comes from this is upside in my view and given the cash balances, its not a move which can sink the company. Personally I'm fine with it and view it as part of the equity story which will drive the share price higher. Adam
adamb1978
14/8/2017
08:16
uganda - I brought this building up at the AGM and they said they hadn't yet any plans for it. It's reasonable to suppose that the completion would sell for well over £30m and construction would cost of the order of £10m. They don't list the item as an individual bs entry - it will be among "development assets". I'm personally wary of the residential property market and anything approaching a 30% fall in house prices (the BoE stress test level) would be embarrassing for them.
jonwig
14/8/2017
08:06
It does not make sense to me that WJG would change a well worked business strategy changing the risk profile of their business model. Management have been very clear on their modus operandi so I'll await developments so to speak.
ugandalad
Chat Pages: 43  42  41  40  39  38  37  36  35  34  33  32  Older
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