Watkin Jones Share Discussion Threads

[srpactive] 09/1/2023 15:48

Tickle away.

[srpactive] 09/1/2023 15:40

Tickling interesting territory chartwise.

dyor

[2vdm] 09/1/2023 07:48

Looking fwd to Sept year end results to be announced on 25th Jan as well as investor presentation. Should give us a view going fwd.

[srpactive] 04/1/2023 15:08

If we can close above 105.8p, we could turn a few heads chartwise.

dyor

[hybrasil] 01/1/2023 13:51

Christ
Don’t think they could. Or at least not enough developments. And if they build them can they sell them
Anyway results are due in less than three weeks so we should have a better idea then.

[christw1234] 31/12/2022 16:42

Hybrasil
You are forgetting that WJ could easily forward fund the developments themselves with the bank debt on their capital-light balance sheet

[hybrasil] 31/12/2022 08:12

Good pick
Look back I have not. At least - not yet! Did you get anywhere with your e mail to the company?

Both. It’s not a question of trust. The directors cannot be expected to carry out transactions that consists of forward selling pbsa orBTR profitably in a market that doesn’t allow it. They have already told the market that they are having difficulty with two sales.

This I repeat is not a simple property company. It’s a spec builder in a period of difficulty for their particular product.

Anyway time will tell

[goodpick] 30/12/2022 23:25

Both he has publicly confirmed he has a short in WJ so suits him to post negatively.

[bothdavis] 30/12/2022 22:40

Why?

Why not trust the directors to lead the company?

If you don't trust them....sell up, if you do trust them stay put.

If you don't have a position in this stock......why the persistant negativity?

[hybrasil] 30/12/2022 21:36

Look at short term treasury yields. This is a little bit goosed

[srpactive] 23/12/2022 20:40

Yes happy to hold my two lots already from 80p region and
will increase further on good news.

dyor

[r2oo] 23/12/2022 15:14

Totally agree

[petersinthemarket] 23/12/2022 11:16

Shorttracker.co.uk only tracks shorts above 0.5% and on this basis there is no short on WJG.

[bothdavis] 22/12/2022 16:50

Agree...think these are undervalued and people discredit companies too easily.

[christw1234] 21/12/2022 14:04

Watkin Jones will be fine, their pipeline of BTR/Co-living sites in strong cities like Bath, Bristol, and Brighton will see them through this uncertain period

[goodpick] 20/12/2022 22:59

Mark Watkin Jones was keen on a non exec position ( fact ) after stepping down as CEO - this didnt happen so he may have felt irritated ( speculation ) and exited as soon as he could after that.

I also think moving from a family to a corporate listed one with a chairman he was accountable too was tough.

Also having so much of your family wealth invested when you dont have the control you are used to is another potential reason for exiting.

[bothdavis] 20/12/2022 22:36

But what if you are wrong hybrazil?

[cordwainer] 20/12/2022 17:41

cordwainer - 20 Oct 2022 - 14:54:35 - 2624 of 2713 ::: WATKIN JONES - buildings for students - WJG
Net cash according to the last update was £75M which overtops the circa £25M paid in dividends over the past year. I would still hope and expect management to take a very cautious approach to dividends for the reasons stated in the trading update; i.e. WJG's customers are set to face a more challenging future on borrowing / financing costs for their construction projects. Anyway it looks like Huntonomics will keep a steadier ship economically whoever gets to be PM.

[hybrasil] 20/12/2022 16:04

Cordwainer

The dividend depends on transactions happening - they have already told us that two of them have gone on the back burner. If I am right there will be little or no dividend in 12 months time.


Jonwig

On a quick perusal

March 2016 £45,000,000 taken off the table by the family in the float.
March 2017 £70,000,000 taken off the table in a placing
Jan 2018 £ 7,500,000 Marks divorce
Nov 2019 £52,500,000 sale by the family.

Why get out of a 9 generation business. Risk - thats why. From my figures you will see the divorce accounts for only 5% of the sales

Don't get me wrong - I like the business of student housing but this share is wildly overpriced. It has to in my opinion end up at a discount to the 57p Net Asset Value.

If and when that happens Im a buyer

[jonwig] 20/12/2022 15:36

There was a divorce, which I think triggered some large share sales and may have had other consequences.

[cordwainer] 20/12/2022 15:18

I think it's much more likely the primary reason for the family exit was personal and in any case history now and a distraction from the investment case rather than a factor.
I'm not expecting anything but a depressed and wobbly / volatile share price through a general recession, this is only a dividend play with a strong balance sheet right now. Worth picking a few up somewhere near 80p or less. Then earnings could even bounce back within a couple of years and the share price along with it. Meanwhile - yield !

[hybrasil] 17/12/2022 03:52

Yes but they only went into this model of forward sales in a period of low interest.

And as I keep pointing out the family are now (wisely) nearly completely out