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Hopefully this will continue for the week. And Friday....... who knows?
Improving on the lead up to Thurday it seems, and on the basis of Crest and Redrow statements, with the prospect of earlier positive updat s prior to Vistry next week.
Tuesday 10th. November - Persimmon 3rd Quarter Results
Wednesday 11th.November - Taylor Wimpey Trading Statement
Thursday 12th.November - Vistry Trading Statement
https://www.theconstructionindex.co.uk/news/view/later-living-developer-picks-nine-building-firms ( including Vistry )
Yes Karv1, except resumption of dividends as profit increasing in 2021, they got enough liquidity and all these deals and partnerships bodes really well for the group. Expect a re-rating , strong buy ??
Also
15/10/2020
Vistry Partnerships Appointed To Deliver Regeneration Project In East London
https://www.construction.co.uk/construction-news/273111/vistry-partnerships-appointed-to-deliver-regeneration-project-in-east-london
RNS "These developments and contract wins further amplify Vistry Partnerships' established role as a key partner with Registered Providers and local authorities." In the event of a downturn in the private market, it is what will sustain and grow Vistry.
Vistry Partnerships again.
Developers Vistry Partnerships and Cheshire West and Chester Council are working together to build "high-quality, affordable homes" as part of a joint effort to "boost and rebalance" the area's housing supply.
https://www.chesterstandard.co.uk/news/18776608.building-work-starts-100-new-homes-ellesmere-port/
https://www.theconstructionindex.co.uk/news/view/vistry-names-southeast-md
Do people expect the dividend to be cut in 2021 or return to 2019 amount of 58p
Sharecast News) - UK housebuilders are too cheap to ignore, Jefferies said in a research note on Thursday.
"With construction looking un-impacted by the latest Covid measures and the strength in the housing market providing increasing comfort on the sustainability of demand, we see the UK housebuilders as oversold," the bank said.
"News flow on Covid, Brexit, stamp duty and help-to-buy changes will likely create share price volatility near term. Nonetheless, we see current share price weakness as presenting a great entry point for our key picks: Persimmon, Berkeley, Barratt."
Jefferies noted that to date, housebuilders have said that local lockdowns such as the one in Leicester have not impacted construction build-out on site. As a result, the bank reckons that similar will be true of Tuesday's step-up in Covid measures and would even be the case in a scenario of a more aggressive lockdown.
"Reflecting this, the more important impact of the lockdown for the sector will likely be the influence on customer demand," it said. However, it said that with agreed sales up 40% year-on-year, mortgage demand ahead of levels lenders can process, and house price inflation 3-5%, recent housing data, provide increasing comfort on its forecasts.
"Near term share prices may remain volatile reflecting macro news flow, with an air pocket in company news flow until the November trading updates which should be able to provide colour on demand for housing for April and beyond (i.e. after the expiry of the stamp duty holiday and Help to Buy changes).
"Nonetheless, with valuations reflecting house price declines of up to 14%, we believe the profitability and return on equity profile of the sector remains significantly under-estimated."
She ought to know - it is in the long game, I think.
Exactly - Makes you realise what a bargain she had!!
Probably - but sometimes they are tighter than most with less.
I'd imagine it's small change when you are from the social background that these people are.
But who actually comes up with the cash?
That is one thing to make of it!
Wish my wife had bought £100K 's worth :)
And nigh on £100k added by CEO's wife. Make of that what you will.
Interestingly they decreased in Crest
Can't believe this keeps falling - absolute steal at these levels!
n/m
No. iPad stuck or something tech. Difficulty in initiating new message.
"Relatively small, but an example of the additional resilience ( mentioned earlier ) provided by ongoing partnerships with social housing providers."
Raleigh, you're putting these comments out under the heading that I initiated, so I'm wondering if perhaps you are aiming them at me and are seeking a response...?
Taking driving a car as a metaphor for investing, my approach is to spend much of the time looking in the rear view mirror.... I appreciate that wouldn't be ideal if one was actually driving a car so the comparison only stands up so far....
The thing is, I've been in this game for twenty years and that approach has served me well, and now being well into my late sixties and (allegedly) somewhat set in my ways, it seems unlikely I'll change...?
But the thing about the rear view mirror approach is that you essentially only need three numbers...
The book value per share net of intangibles at the start of the year, the total equity net of good will at the end of the year, the number of shares in issue at the end of the year, and the amount of dividend per share actually paid during the year...
Okay, four numbers then...
From those, I can obtain the real, not mythical, earnings per share, and, from that, the real return on equity and the correct price to book value (which I update each month based on estimates and am usually within my target 2% error allowance when the numbers are issued - which is near enough for my purposes)
And that gives me what I want to know, going back decades for most of the big house builders. The amount of debt, or lack of it, is obviously an issue going forwards but, again, how successfully the company used leverage in the past shows in the actual return on equity achieved, and also I observe that companies, like people, can tend to have natures that, give or take, are likely to be fairly consistent.
"It's different this time" reckoned to be the four most dangerous words in investing.
Whereas, many investors put far less store on the past... and, of course, they may have great success with that... but it is very much a different approach - a different hand on the big ouija board that is the market, perhaps...?
And if Bovis really has changed, and if my metaphorical car I'm driving is also a time machine, then, all being well in due course, I'll be able to observe how they've done in the rear view mirror and make a value assessment accordingly...
And in the marketplace, all companies tend to have their moments in both the sun and the rain, and history suggests I can almost certainly bide my time for Bovis and, in the meantime, there are easier questions on the exam paper IMO.
Warren Buffett's perfect pitch, if you like...?
And if I'm wrong, and Bovis soars off into the sky from here and stays there, well, no one house builder has ever been the only game in town so far....
Strictly
Relatively small, but an example of the additional resilience ( mentioned earlier ) provided by ongoing partnerships with social housing providers.
VISTRY PARTNERSHIPS STARTS ON WIRRAL SCHEME
16 Sep 2020 North West Property
Vistry Partnerships has started work on a Wirral development.
The development, named Poppyfields, will comprise 78 self-contained apartments.
It will also provide a variety of facilities including a bistro, hair salon, spa bathroom and wellbeing suite.
Included in the development is a head office for Alpha Living, with North West managing director Ian Hilliker saying: "It's important to highlight the need for developments like these and we are happy to be able to provide flats to people who truly need them.
"High quality developments such as this are vital for local people and help build and sustain communities."
Chief executive Graeme Foster added: "The whole project team has been focused on delivering a high quality development, which will provide much needed affordable extra care housing on the Wirral."