Published on: October 5, 2022
Board’s share purchases highlight confidence
We note that the Chairman and CEO of Watkin Jones yesterday purchased over 72,000 shares between them after a large fall in the price following that morning’s trading update. We believe this demonstrates management’s view that the market had overreacted to the announcement and that, despite guidance being lowered, they remain confident in the long-term prospects for the residential-for-rent developer and manager. We continue to believe that these prospects will be driven by strong demand from tenants, underpinning rental income for the group’s institutional clients.