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And we all like a nice surge !!
Looks like she's just getting ready for the next surge judging by recent buy activity.
Put a line through the 2013 chart and it points to a very tidy year end for WKP indeed. That's not even allowing for the expected acceleration.
A bit of profitaking going on? Hope so - only relatively small trades going through but a steady stream of sells since 360. Hopfully next week's budget should spur WKP towards 400 - Osborn needs to do something to stimulate business and small firms are the largest employers/growth sector in the economy these days which is good for WKP.
Can't belong now surely before we are looking at a £5 share here. Even that would be cheap.
Oh and............. Workspace said it saw good levels of enquiries and lettings in the quarter, despite the anticipated seasonal slowdown at Christmas. Enquiries averaged 964 per month, compared to 892 per month in the same quarter last year.
Chief Executive Officer Jamie Hopkins said: "It is encouraging that this strong level of customer demand has continued into the current calendar year. Our market knowledge and focused asset management strategy continues to drive momentum in the business and shareholder returns." "Our total property valuation has also increased; benefiting from an improved operating performance alongside the uplift in value achieved from our on-going programme of refurbishment and redevelopment. Tailoring and upgrading our properties in order to attract our customers is proving successful and remains a priority."
Office provider Workspace said demand for space remains strong with an increase in like for like rent roll in the quarter and the year to date as it continues with its programme of refurbishment and redevelopment. LFL rent roll increased 1.4% in the quarter to �44.2m and rose 4.5% in the financial year to date. Total rent roll increased to �51m from �50.2m in March 2012. LFL occupancy stood at 89.6%, up 0.8% in the quarter and up 1.9% in the year to date. Its London property portfolio is now valued at �799m, an underlying increase of 1.5% in the quarter and 3.6% since March 2012. Workspace said net initial yield is 7.1%, unchanged from March.
Workspace Group: Seymour Pierce increases target price from 330p to 375p and reiterates a buy recommendation.
Workspace Group: Panmure Gordon takes price target from 325p to 350p and leaves its buy recommendation unaltered.
Workspace Group: Jefferies ups target price from 287p to 317 and maintains a hold recommendation.
http://www.investegate.co.uk/workspace-grp-plc-(wkp)/rns/holding(s)-in-company/201301240938272846W/
Sizeable buys going through today. Bodes very well for that £5 target by year end.
"Workspace has had an active and productive first half of the year reflected by the growth of both our core operational income as well as the capital value of our assets," said Chief Executive Jamie Hopkins. "During the period our marketing efforts have continued to drive occupancy and rent roll and we have pushed forward with various repositioning, refurbishment and redevelopment initiatives."
Office provider Workspace Group said increasing demand had pushed up rents and occupancy, in turn boosting profits. Profit before tax was up 46% at £24.6m for the first half of the year, with earnings per share flat at 5.9p. The firm boosted its interim dividend per share by 10% to 3.22p. Its like-for-like rent roll was up by £1.3m - 3.1% - in the six months to September 2012. Around 40% of this increase in rent came from higher occupancy, with 60% from the rise coming from higher rent per square foot. The firm said rental growth would increasingly be driven by improvements in pricing as it reached high levels of occupancy and demand, particularly at the company's business centres. Overall occupancy at September 2012 was 84.6%, down 0.7% since March. This was due to a drop in occupancy at properties being refurbished (down 9.6%) and redeveloped (down 7.6%), as well as two property disposals. However, it was up on the like-for-like measure, reaching 88.8%, the group added. Workspace's underlying property valuation was up 2.2% to £781m since March.
They're having a laugh - if this doesn't pass 400 within the year then serious disaster must have happened!! BUY
Workspace: Seymour Pierce lifts target from 270p to 330p, buy rating kept.
Investec Securities retained its "buy" rating for Workspace Group (WKP) with a target price of 335p. The broker noted that the real estate developer is undertaking a refurbishment programme at its more mature assets, which it believes will help drive rental growth. Additionally, Investec expects the firm's net asset value to rise to 405p per share by the end of 2015, from 297.9p as at 31st March 2012
My views? If WKP can keep the dividend yield over 3 p.c. then I can see this hitting 400 in 2013. It's a well run company that seems to know what it's doing. It's a play on an economic recovery supported by smaller firms especially in the South East.
of how high this is going to go, and ion what time frame ??
Nothing spectacular here, just a steady rise based on decent buying. Exactly what we want. And the nice thing about WKP is that occupancy rates go straight onto the profits figure. A lot of the recovery is being driven by relatively small companies, and that's good for WKP. It won't take much more to see this well into the 300s. They just have to watch their borrowing costs.
But still a long way up to go for WKP. Holding very tight to this stock.
This should do very well as it is so well placed.
The Chief Executive Officer of Workspace Group, which specialises in providing office space to start ups, has purchased 112,525 shares, significantly boosting his stake in the FTSE 250 firm. Jamie Hopkins, who took on the role of CEO in April of this year, bought the shares at 266p each for a total of £299,316, increasing his stake to 117,414 shares, equivalent to 0.081% of the issued share capital. The company's share price has risen by more than 25%, equal to 54.55p, over the past year, having performed particularly well since May of this year. In its most recent update, given in late July, the company said like-for-like occupancy was up 0.6% in the three months to the end of June at 88.4%, while average rent per square foot was £12.74 compared to £12.61 the same period the previous year.
Any (sensible) ideas where this is heading ?