Share Name Share Symbol Market Type Share ISIN Share Description
Watkin Jones Plc LSE:WJG London Ordinary Share GB00BD6RF223 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  3.50 1.71% 208.00 439,719 16:29:34
Bid Price Offer Price High Price Low Price Open Price
208.00 210.00 209.50 204.50 205.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate 354.12 25.31 8.25 25.2 532
Last Trade Time Trade Type Trade Size Trade Price Currency
17:07:33 O 1,299 207.996 GBX

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Date Time Title Posts
03/3/202118:45::: WATKIN JONES - buildings for students2,254
20/9/201815:47Watkins Jones1

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Watkin Jones (WJG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-03-03 17:07:33208.001,2992,701.87O
2021-03-03 17:05:11205.911,8343,776.35O
2021-03-03 17:04:38207.932,1154,397.66O
2021-03-03 16:53:37206.885571,152.30O
2021-03-03 16:48:35202.5015,43531,255.88O
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Watkin Jones (WJG) Top Chat Posts

Watkin Jones Daily Update: Watkin Jones Plc is listed in the Real Estate sector of the London Stock Exchange with ticker WJG. The last closing price for Watkin Jones was 204.50p.
Watkin Jones Plc has a 4 week average price of 189.60p and a 12 week average price of 159.20p.
The 1 year high share price is 269.50p while the 1 year low share price is currently 119p.
There are currently 255,722,099 shares in issue and the average daily traded volume is 432,787 shares. The market capitalisation of Watkin Jones Plc is £531,901,965.92.
investor0109: Sphere25- quite agree, WJG looks to be making good ground and for good reason. High quality business managed well- believe reasonable value in region of 230-260p, with excellent potential.
sphere25: This share sure knows how to tease. Price currently 206.5p, being bang on key resistance levels at the moment. It keeps threatening that breakout. Still some sellers preventing the breakout around the 207p level but 185k just mopped up at 206p. Keep the mop out at 205p and 206p and surely the bulls will take control of key price levels to help push the price higher. Continued stalemate at the moment. All imo DYOR
sphere25: Hello 2theduke. Hello to the Duke. You are the Duke :-) Yes, it's hard to read this one because of the way the orders come onto the book. The book doesn't often represent the whole picture here. The book can look strong one minute and then the hidden sell algos pop up, which in turn makes the buy algos on the bid run for cover and it looks completely different. That said, I have nibbled a few this morning too. Just noticed a few bigger buy orders on the book: 25k (20263 remainder at present) at 200p and 21580 204p - larger orders than normal for WJG, which are staying static with the shuffles of the sell algos on the offer. Clearly more capital is being allocated to the re-open trades this week with so many positive moves. Whether that is a precursor to a breakout in WJG remains to be seen. Volume is light on a quiet Friday morning (though I'm sure folk are watching some of the really sharp moves in the US ten year and the QQQ chart looking rather precarious - the selling can feed through into UK shares if they really go PlungeVille and unwind some of the excesses) and we're about to test those key levels at 207p. IF we can clear these sell orders at 207-208p, breakout could be on here. If not, it looks like more farting about in a tight range. All imo DYOR
2theduke: Hey sphere :-) I’ve taken a position but it may be early. We will know tomorrow. There was someone buying chunks for a while now and then some large seller. Today the seller seems to have finished... to my untrained eyes. Wider macro trends are on wjg side as well, so I’m ok holding as I don’t tend to trade vs invest. Good luck :-) imo dyor
sphere25: Have I missed the breakout here? It's having a go with the price currently 206.5p. Looks like a larger seller at 208p so a breach above that intraday could make this move interesting. Prone to lumpy moves WJG and often sell orders sit silently in the background waiting particular offer price points to be hit. Let's see if it can confirm the breakout. There is no ex-dividend to get in the way this time! :-) Still, holders gobbled that up and made it back and more atm, All imo DYOR Closing auction update. Price has closed 204.5p. Squint your eyes and see if that's a breakout. Needs momentum tomorrow and it could confirm the breakout but can lumpy ole WJG do it? Don't find this one the most straightforward to trade but it's getting interesting.
winski: I was a little disappointed the share price dropped back, especially as the dividend has been reinstated and goes XD on the 29th of this month. There has been some decent press on the share so I’d like to think the price will rise on the lead up to the XD date.
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.'
clausentum: johnthespacer: 12 - 15 million was a very provisional guess in May, which was going to depend on ongoing discussions, a more accurate estimate was going to be made at this year end. "The full cost to the Group, as previously announced, could be in the range of GBP12 million - GBP15 million over the next two years, but the final number will depend on the outcome of ongoing discussions with property owners. Accordingly, a non-underlying provision for these costs is likely to be made at this year-end." Since WJG was not legally responsible for the cost of replacing the cladding I was hoping the final estimate might be lower in the range. Despite the building sites being closed for a while, and some concern about as many students attending universities, and concern about cladding costs, the share price has really been hammered for such a well run low capital company. Clarification on cladding costs would be welcome.
alter ego: The WJG share price has dropped significantly, along with many others since the last post on this board. Looking back at the result published on 14 January, there was no mention of covid-19, just the impact of Brexit. The landscape has changed materially since then so is covid-19 a real threat? With net cash and a growing market, is this "baby" being unfairly thrown out with the bathwater?
rivaldo: FYI here's Simon Thompson's IC tip from a few days ago, raising his target price to 275p... "Watkin Jones (WJG:214p), a construction group specialising in purpose-built student accommodation (PBSA) and private rented housing, has issued a raft of bullish updates since I last rated the shares a buy, at 207.5p, in the summer (‘Watkin Jones on for a record year’, 31 Jul 2019). The share price subsequently hit a high of 241p late last month, but has pulled back after the founding Watkin Jones family sold down 25m shares, at 210p, through an institutional placing late on Friday, 8 November to reduced their stake to 45.5m shares, or 18 per cent of the issued share capital. The institutions have got themselves a good deal and one which you can avail yourself of close to their buy in price. There are sound reasons for doing so. In the past two decades, Watkin Jones has delivered 41,000 student beds across 123 sites, making it one of the largest players in the PBSA market. It’s a market that is still undersupplied as the UK’s current stock of 639,000 PBSA beds in the UK (Jones Lang La Salle estimate) remains well below the 750,000 intake of first year and international students, so new beds coming onto the market can be easily absorbed. Furthermore, the UK has 12 of the world's top 100 universities, which continues to attract international students to our shores, both for the high quality of education, and value on offer, too. Sterling has depreciated by more than 17 per cent against both the US dollar and euro in the past four years. The asset class is also attracting hefty investment flows from institutional investors, enticed by an above-average yield profile compared with other mainstream property asset classes, strong and stable performance both in terms of investment yield and occupancy levels, and a relatively low-risk income stream with the ability to capture annual rental growth. Net yields are around 4.5 per cent on new London PBSA developments, and even higher still (5.2 per cent) in the regions. This positive dynamic explains why Watkin Jones not only forward sold and completed all six PBSA developments (2,723 beds) in the 12 months to 30 September 2019, but has already forward sold all seven of the PBSA developments (2,609 beds) slated for construction in the 2019/20 financial year. Furthermore, 1,928 beds have been forward sold for delivery in the 2020/21 financial year and the directors are aiming to deliver an additional 1,300 beds in that 12-month period, too, of which agreed sales on 448 beds are in the hands of solicitors. The scaling up of the operation is part of a strategic plan to increase the delivery rate to 3,500 PBSA beds over the next five years. Build-to-Rent opportunity scaling up It’s not the only attractive business opportunity that Watkin Jones is exploiting. The group is replicating the success of its PBSA capital-light and forward-funded business model in the Build-to-Rent (BtR) market. In fact, the forward sold and secured BtR pipeline now compromises 1,750 apartments across eight sites, the vast majority of which are slated for delivery in the 2020/21 and 2021/22 financial years. In addition, management is in advanced negotiations to acquire sites that would deliver an additional 1,150 apartments by September 2023. This area of the market is attracting huge institutional investment flows, too. For example, the likes of L&G, Aberdeen Standard, M&G, and Invesco have been increasing their exposure, attracted by the UK’s ongoing population growth (the UK's population is forecast to grow by 7.5m by 2035), the need for additional rented accommodation and attractive investment yields (3.8 per cent in prime regional sites). Indeed, there are now 148,000 BtR apartments under the construction in the UK, with an estimated gross development value of £10.6bn, according to the British Property Federation. Analysts at property agency Savills estimate that the BtR segment of the housing stock could ultimately account for 1.7m homes, or a third of the private rented sector. Record profit to drive share price to new highs Given this positive backdrop, it’s hardly surprising that Watkin Jones is on course to report another record annual performance. Analyst Paul Hill at Equity Development estimates that adjusted pre-tax profits will edge up to £51m to deliver earnings per share (EPS) of 16p in the 12 months to 30 September 2019 to support a hike in the dividend per share from 7.6p to 8p. Moreover, cash continues to build strongly. Mr Hill believes Watkin Jones now has net funds of £90m (35p a share), or three times higher than three years ago, highlighting the highly cash-generative nature of its business model. On this basis, Watkin Jones’ shares are effectively being priced on a cash-adjusted price/earnings (PE) ratio of 11 for the year just ended, a rating that fails to take into account its attractive earnings growth profile over the coming years – analysts forecast EPS of 17.1p, 19.2p and 22.7p, for the next three financial years – and the ongoing bumper cash generation that underpins the board’s progressive dividend policy. Indeed, analysts expect a current year payout per share of 8.6p, rising to 9.6p in 2020/21, and 11.3p in 2021/22 based on a 50 per cent payout ratio of net profits. Even after factoring in the higher cash cost of the dividend, both my financial models and those of analysts suggest that Watkin Jones’ net funds could increase by more than 40 per cent to £128m (50p a share) by September 2022. Trading on a current year forward cash-adjusted PE ratio of 10, and offering a prospective dividend yield of 4 per cent, I feel that Watkin Jones' share price will resume its upward move once the dust settles after the founding family's sell down, so much so that I have raised my target price from 265p to 275p. That's still a discount to Peel Hunt’s raised fair value estimate of 280p (from 265p) and Equity Development’s upgraded sum-of-the-parts valuation of 300p (from 250p). So, ahead of annual results on Tuesday, 14 January 2020, I continue to rate the shares in a positive light, having first suggested buying at 100p at the IPO ('A profitable education', 3 Apr 2016), since when the board has paid out dividends per share of 20.95p to give a total return of 134 per cent. Buy."
Watkin Jones share price data is direct from the London Stock Exchange
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