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Well, of course we don't know what will happen, but you've bought at a really good time. 11% div yield (which could go down, naturally, if there's a property downturn, but hardly likely to reduce to zero), with inflation bad in the short term but house prices will ultimately rise, and a company with little need for heavy r&d costs, with plenty of cash, no real debt, and with plenty of land for development. Good luck.
I couldn't resist in the end, I got my dividend and capital return from Aviva. I bought PSN at the end of the day on Friday as the SP dipped. I bought as many shares as I could. I will keep topping up in the coming weeks as more funds become available.
I agree, no one knows what will happen and I think we are at a decent SP level at the moment, now I just have to be patient and let the dust settle.
There is a trading update on July 7th then half year results on 17th august. So you have until then to get cheap shares as once good sales figures are announced this price will be a distant past.
Well, it's up about 3-4% from lows even after dropping back from today's peak, and with the price likely to rise as we approach xd date I doubt you're right.
I'm not so sure guys, this was over £30 last June, and not showing any real signs of rising, will see how this is going before exdiv, may be a good time to pull the plug if no improvement and come back another day, sorry if I'm sounding like a doomster, but difficult times to come, but of course nobody knows, and of course i would be happy to see this start rising
good luck all
Hello CSDI,
Your advice is good, I am considering holding for some time at least this gets back up to £28. I think I will wait until ex-divi day and put all my accumulated money in. I will have my ITV divi in by then too, I can then top up in the following months as more money becomes available.
I hope it doesn't climb too much till then!!
Nomad,
Today is a better day (than yesterday) if you're looking to start buying PSN.
If you have a reasonable sum to invest you could always spread the purchase over a few months.
Not far above the 52 week lows, which may help support the SP.
Then again if the predicted recession takes hold, the SP could drop much further.
Choices choices.
As a holder I do not want to risk selling as cannot guarantee getting back in at lower level.
Stevebt's stance is very sensible too - why not wait and see - as the SP will drop when ex div date comes along.
Question is - what happens to SP between now and then LOL.
GLA - C
The share price is taking a while to rise which makes me think it may not rise much in the next year or so which is good news if your buying, I’m waiting till ex day to see what happens with the share as if it doesn’t rise it has to drop another £1.10 so I would rather have the cheaper share that pay more tax on the dividend.
Persimon’s can’t build the houses quick enough for thaw sales coming in and a shortage of labour and people wanting more money is causing more hold ups on the sales. Will have to wait and see if they achieve their half year sales figures as the sales are there but completions are slow and there is no payment until the house is complete.
Thanks CSDI,
So nice to get a balanced answer on these boards.
I hope my money comes in soon, the SP has been rising slowly over the last few days, although it maybe a slight red day today. I also have my Aviva dividend to reinvest along with other dividends to come in the next week or so. I am hope the SP holds for me so I can get most of my money in.
Hi Nomad
Providing there is no housing crash, and folks can still get finance for their expensive houses - cheaply built, generating loads of profits for the company, then looks a good chance.
i've only got a few shares at ave cost £22.17, so looking forward to a continued divi of 235p p.a.
As long as things do not go pear shaped, prfoits should continue and therefore divi maintained and a good chance of rising SP.
Profits may be impacted by higher costs of materials and labour, but would expect these to incorporated into selling prices. They have a good forward land bank, so all looks good to my positive mindset.
Naturally things can and do go wrong, and the SP has fallen from nearly £33 over the last 12 months. Would be nice to see it bounce back but would not count on it. I will be holding for a while and have a plan to sell 1/3 of my shares if/when we get to £25. Otherwise I will just sit back and let the 10% yield roll in.
GLA - C
I am thinking of investing my 11K from my Return of Capital from Aviva into these shares. The dividend looks crazy and with all the global headwinds, is it sustainable?