Watkin Jones shares trading at double launch price
Shares in the Bangor-based student accommodation developer are changing hands at more than twice their debut price 18 months ago.
In March 2016, shares in the group entered the London Stock Exchange at 100p. Last week they finished on 212p and opened today at 214p, showing no sign of stopping their climb.
Analysts and investors were guests at a visit to one of Watkin Jones’ London sites earlier this month as part of the group’s investor relations campaign.
Since June, analysts including Peel Hunt, Jefferies Group and Beaufort securities have issued ‘buy’ ratings for the stock, with target prices up to 250p.
The rising price means the business is now worth more than £540m, compared to a £225m valuation when it entered the stockmarket.
Since 1999 the company has delivered more than 31,000 students beds at around 100 projects.