Watkin Jones Share Discussion Threads

[thefartingcommie] 11/11/2019 11:20

re...For all its promise it is a shame this share has gone nowhere in the last 2.5 years since crossing the 200p line in May 2017. Although I suppose that does equate to a 2.4% pa capital return along with a circa average 3% pa dividend over the period - better than a bank account, but not as impressive as expected ..

my thoughts exactly...what with the unfortunate divorce and settlement etc etc...I'm hard pressed to see an investment case here right now.

[rat attack] 11/11/2019 11:14

For all its promise it is a shame this share has gone nowhere in the last 2.5 years since crossing the 200p line in May 2017. Although I suppose that does equate to a 2.4% pa capital return along with a circa average 3% pa dividend over the period - better than a bank account, but not as impressive as expected given market position and financials! Can think of some REITS that have outperfomed that return in dividend alone and without the superior business model!!

[rat attack] 11/11/2019 11:12

For all its promise it is a shame this share has gone nowhere in the last 2.5 years since crossing the 200p line in May 2017.

[alotto] 11/11/2019 09:06

What is the placing of shares aiming at? Cashing in profits or increase liquidity for some reasons?

[zangdook] 11/11/2019 08:38

lock-in on the unsold shares retained by the sellers, but afaics no lock-in on the buyers. Interesting that they were proposing to place 22m shares but actually placed 25m.

Who can be the institutional holder with 18.2m who was thinking of placing them and changed its mind? Surely not Octopus?

[peter27] 11/11/2019 08:33

The good news is that they were placed very quickly and the institutional shareholders have increased providing further liquidity and there is the usual 180 day lock-in.

[davemac3] 11/11/2019 08:08

somebody sold almost 10% of the company!

Edit, doh, I should have read previous post

[skinny] 09/11/2019 12:36

Lucky them!

Further to the announcement released on 8 November 2019 by the trustees of the Glyn & Jennifer Watkin Jones 1992 A&M Settlement and the Watkin Jones Will Trust (together the "Sellers"), Jefferies International Limited ("Jefferies") and Peel Hunt LLP ("Peel Hunt") (together the "Banks") announce that pursuant to the Placing, the Sellers have sold an aggregate of 25,000,000 ordinary shares (the "Placing Shares") in the share capital of Watkin Jones, by way of an accelerated bookbuild to institutional investors at a price of 210 pence per ordinary share, raising gross proceeds of GBP52.5 million.

Following the completion of the Placing, the Sellers, in addition to Mr Mark Watkin Jones, will hold 45,584,407 million ordinary shares in the capital of Watkin Jones, representing approximately 18.0 per cent. of the Company's entire issued share capital. These shares are subject to a 180-day lock-up undertaking (subject to certain customary exceptions).

From - Shareholders previous to the announcement :-

[thegreatgeraldo] 08/11/2019 17:55

No dilution, it's a secondary placing

[cordwainer] 08/11/2019 17:53

wonder how many only look at the placing headline and assume its a dilution

[equitydev] 05/11/2019 15:58

Watkin Jones is a rare breed. Not only is this developer & manager of large scale, multi occupancy property bucking the wider UK economic trends. But also the company is benefitting from the long term secular tailwinds supporting in its 2 key markets of Build to Rent (BtR) & student accommodation (PBSA).
What’s more the business is performing well, with the CEO Richard Simpson saying this morning that “trading remained strong through Q4’19, …[and] the Board expects to report FY19 revenues and earnings in line with expectations, together with a good cash performance”.
Moreover, it appears the medium term opportunity is actually much larger than we’d previously thought. With management adding that the company is now targeting an annual run-rate of 3,500 PBSA beds (vs 2,723 FY19), along with 1,000 BtR (0) apartments from FY24 onwards.
Sure, this doesn’t change our near term numbers. Yet further out it provides a material boost to our FY23-24 projections – lifting the valuation to 300p/share vs 250p before. FY19 prelims are set for release on Tuesday 14th January 2020.

New research here: hxxps://www.equitydevelopment.co.uk/company/?company=Watkin+Jones&c=yUTO

[rivaldo] 05/11/2019 15:45

OT : hi swiss paul. I thought FDP's numbers were OK, no better - certainly not deserving of such a high rating, which imo is still too high despite the decline.

I'd rather be in WJG :o))

[swiss paul] 05/11/2019 12:46

and over on FDP Riv - good numbers (apols to all for the ramp)

[rivaldo] 05/11/2019 12:32

Commentary today from Peel Hunt:

"Watkin Jones has reported another year of strong progress across its business segments and there is clearly scope for strong profit growth over the medium-term, says Peel Hunt. "All of the purpose built student accommodation schemes for fiscal 2020 are already forward sold, with 73% of the beds scheduled for fiscal 2021 delivery forward sold or in legals," the brokerage notes, and adds in build-to-rent the fiscal 2020 scheme is forward sold with a significant step-up in output to come in fiscal 2021 and beyond. Peel Hunt has a buy rating on the stock with a target price of 280 pence, up from 265 pence."

[rivaldo] 05/11/2019 08:30

Peel Hunt have raised their target price to 280p (from 265p) and say Buy:

[rivaldo] 05/11/2019 07:14

An extremely satisfactory year end update - nicely in line and huge visibility of revenues going forward.

Plus commentary re plenty of available investor demand for BTR and ambitions to greatly increase the numbers of beds and apartments.

And this statement reads rather well:

"The robust PBSA activity in the period, coupled in particular with the increasing momentum in BtR, firmly positions Watkin Jones as the UK's leading developer and manager of residential for rent."

[rivaldo] 29/10/2019 09:17

Cheers - good to see more developments in the pipeline. I note that WJG would also manage the resulting accommodation via Fresh.

[cordwainer] 28/10/2019 17:37

www.radioexe.co.uk/news-and-features/local-news/student-flats-plan-for-exeter-ambulance-station/

[skinny] 24/10/2019 16:34

2 year high @243p earlier.

[alotto] 18/10/2019 10:04

I'm 0,3% up ahah

[skinny] 18/10/2019 09:41

I'm currently +83% here - so no complaints.

12 month high is 238.50p.

[its the oxman] 18/10/2019 09:37

Bit of pressure building for it to pop higher.

[rivaldo] 18/10/2019 09:21

New recent highs now....

[its the oxman] 18/10/2019 08:42

Be nice to make progress and see 240p here.