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Looks like a bit of ii action,
Just hope the current divi can be maintained at the current level,as no mention of this in rns ,I shall not be selling in the near term shall wait for the fine detail.gla
Understandable as it is much more expensive to do an open offer. At 125p it's not too bad and the divi is worth holding for imo, and hope the sp will eventually reflect the progress. Will hold personally
Private investors left out in the cold again!?
Moving in the right direction after a slump in the sp. Excellent divi, consistent profit and growing the business. Very un-AIM.
Looks like another good acquisition imo
If Investec are happy to have 3% I'm happy with my few
That yield is very acceptable,...this is a stable boring share nice one if you looking for a stable income...the sp won't do much imo
3.4p final, 6.8p for the year yield of 5.9%.
What do we think of this stock. Not many if the only letting agency stock on the market. About to occupy a unit of ours in south of England (hard negotiators).
Decent RNS today, good enough for me just bought back in. Good luck
Definitely would like to put £1k in here as soon as I can. I am a little perturbed by Cantor Fitzgerald dropping their target so much suddenly : 24 Apr 2014 Belvoir Lettings PLC BLV Cantor Fitzgerald Hold 17.50 127.50 200.00 127.00 Downgrades 26 Mar 2014 Belvoir Lettings PLC BLV Cantor Fitzgerald Buy 117.50 155.00 200.00 200.00 Retains but what do they know.
Thanks for response Pablo. Yes still dropping - I've been in and out a couple of times before it started to fall, and given no change in fundamentals as far as I can see this is looking good value. I have a relative who is a franchisee and has 3 sites, he is doing well and speaks highly of the company and business model. We'll see... All the best.
Really does seem to be getting the life kicked out of it. Been on my radar a long while and think Shares mag likes it. They did a big article last week on Martin & Co MCO and made a brief comparison to Belvoir. Belvoir is Shares pick in the sector. They say, "However, when compared to it's peers it (MCO) does not look as attractive as Belvoir, which trades on a lower PE and offers a higher yield." It also gives these figure : M&Co - sp 140.5, mcap £28.3m, Pre-tax profit £2.3m, PE 17.1, Yield 3.2% BLV - sp 133, mcap £32, Pre-Tax Profit £3m, PE 11.6, and Yield 6.2% With the sp now @ 117p, it is more attractive, but perhaps one should wait for the 'turn'. I'm not in but maybe one day. They started out in 2012 @ 80p. I've always thought they were on to a winner with their formula of franchises and think their signs on houses are catchy. I think big director sells last year hit the confidence but why it keeps going down is beyond me. GL
Ah there it is broker downgrade to 1.27p, i'll talk to myself on this board...
Anyone got any views why sp has drifted last 3 months? I can't see anything obvious.
Thanks for the link
Bought in today £4k. Shows as a sell. One of my daughters lets a couple of properties through them in different areas and speaks highly of their service. A decent divi for an expanding aimer IMO. Will see how it goes
Any views on recent gains?
Notice of AGM____http://www.investegate.co.uk/belvoir-lettings-plc--blv-/rns/notice-of-annual-general-meeting/201303250700127167A/
The shares have climbed 36 per cent since flotation and now trade on 14 times forecast underlying earnings for 2012 of 8.2p. With the prospect of large and growing dividends, as founder and chairman Mike Goddard has promised
Second, it can take on new franchisees. The company receives about 1,000 enquiries a year, of which it recruits at most 20, according to Belvoir's broker, Seymour Pierce. Finally, existing franchisees can open new outlets. In the boom years they could finance their own set-up or expansion by taking out bank debt, but that's harder now. Instead, franchisees increasingly look to Belvoir for start-up loans. Rapid expansion invariably comes with risks. Belvoir could lend to the wrong franchisees, incurring bad debts, or overpay for acquisitions - risks made more acute by the easy-come, easy-go nature of the lettings business. Yet regulation of the rental market is increasing, and bank loans are hard to come by, so the barriers to entering this market are not quite as low as they used to be. Belvoir has been well-run so far, judging by its financial track record. Last year's operating profit margin was 53 per cent, and underlying earnings have grown steadily since 2008.
Revenues from service fees have been increasing at an impressive clip. They were 9.6 per cent higher in the first half of this year than in 2011, but the track record of growth extends much further back. Monthly fee income has increased from £20,000 to £240,000 over the past decade. Overall revenue growth was higher, at 17 per cent, because the company received £190,000 in training and start-up fees from new franchisees (against £67,000 last year). Belvoir is using the £6.2m of cash it received from its February flotation to accelerate its rollout programme, in three ways. First, it can use the money to expand its portfolio of centrally run outlets - as it has done this year in Lichfield, Burton and Pimlico.
The UK housing market is not an obvious source of growth - outside London, house prices have been sagging for over two years. Yet this has created winners, too, above all in the private rented sector. That's the main reason to buy shares in Belvoir Lettings (BLV), one of this year's most successful flotations on Aim. A decade ago, 70.5 per cent of British homes were owner-occupied. That share has fallen to 66 per cent. The slack has been taken up by the private rental sector, which houses 70 per cent more households now than it did in 2002. This is most likely a long-term shift. With the average first-time buyer deposit running at about 80 per cent of income compared with 10-20 per cent in the 1990s, Britons will surely buy later and rent for longer. Belvoir, which runs a lettings franchise business from its Grantham head office, is a useful way to play this theme. It has 144 outlets, of which it owns just four. The rest pay Belvoir 12 per cent of their turnover as a monthly 'management service fee', the financial cornerstone of the company.