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@Urraca - I bought another £150 worth at 90.32p yesterday with my monthly ISA subscription through HL. I bought in on Tuesday at 92.68p, so can't complain.
Should have bought some yesterday. Thought the drop might last for 3 days.
drop seems overdone for the rns
I thought this couldn't go any lower.
The housing market is getting tougher. We have already seen most of the upside unfoling in the past 3 years. I would now expect a period of stagnation or even a correction.
Which pleases me, not as a shareholder, but as a property buyer (to live myself, not to rent out, as the rental market for private investors is gonna get tough with all the energy certificates stuff)
Potentially the worst possible timing.
I'm yet to buy in so I'll see how this all plays out
I held these a few years ago after reading about Watkin Jones in the Midas column. I never held them for long, But have now decided to buy in this morning.
As far as I know, there'll always be a big demand for University students needing somewhere to stay.
This is a pretty good company.
Wouldn’t you come back to the table when the share price has more than halved? I’m not sure that the share price will go up much until the wider economy and the housing markets start to recover. Concerned that they’ll sell out to a vulture fund for 120/130 in the meantime.
Fair Value £2.48
Div 8.25%
Pe 6.5
I think you were/are barking up the wrong tree BlueToff; the drop is all due to rising interest rates and possibly exacerbated by the issues HOME Reit has had with non-paying tennants.....ie nothing to do with the cladding issue you were concerned about.
It's sometime since I last visited this board - I believe the SP was knocking £2.60 at the time. I foresaw a serious drop in the price due to the company's liability with the UK Cladding Issues. I was poo-pooed at the time.
I see that the WAG have issued a statement that any developers that do not agree to rectify their cladding issues will no longer be allowed to work in Wales.
It was argued here that WJ had set monies aside for this eventuality but I'm sure no-one foresaw the drop in the SP - I wonder whether the two are related?
Agreed. I think they are due a Capital Markets day in autumn this year so by then we may have had sufficient movement for that to be a catalyst for the SP. It was reassuring to hear that one of the buyers in the two aborted sales has come back to the table.
Here's the presentation from yesterday.
https://www.youtube.com/watch?v=4I8p2iwvE84
I think the presentation was good, SP might take a while to recover but optimistic for 2023/24.
GLA
No and I can't see anything recorded on the website. The most recent 'results' was from early Feb https://www.watkinjonesplc.com/~/media/Files/W/Watkin-Jones/documents/01-smart-wj-ar22.pdf
and there's an article from Feb 23rd on the big Lewisham site https://www.watkinjonesplc.com/~/media/Files/W/Watkin-Jones/documents/01-smart-wj-ar22.pdf Apologies if these have been posted before.
Did anyone attend/see today's presentation via Investor Meet Company? Thoughts?
Undeveloped pipeline is approx £2b if I recall correctly, but in terms of forward sold developments there are a couple of good charts in the slides from the latest results call (on the WJG website) which are worth a look. I note the company also has an upcoming 'investor meet company' presentation on 2nd March which should be useful.
I purchased a few before the divi to be honest...solid company..assets...cash in bank...no debt...but does anyone on here know what the future order book looks like?.....Thanks and good luck all...
Well the non exec directors are also thinking the same with another director buy this week of £50K. I will probably top up at these levels
not sure why this has dropped over the last 5 days it should be between 120p and 160p IMO housing market is slowing but inflation is easing too so the future is secure.
looks like it's set to bounce back
I find it astounding to see this sitting at current levels. Yes its been a tough 6 months, but a well run business in a sector where demand is surely going to be very strong for years to come. To think it was rated higher than this (at approx 140p) in those dark, early days of the pandemic when the world was falling apart. Odd.
I'd forgotten today was ex div day, thought the early drop was worries about BoE base rates rising. This one's a long term hold for me - decent dividends and strong prospects.
SP up on a 4.5p ex-div day - pretty impressive.
GLA
why are you thinking of selling exdiv?
did a test sell and 10,000 was a problem but 5,000 ok , although I did get 1 10,000 quote and it is probably a question of timing