city watcher
30 Nov 2016
Great Outlook The Group's development pipeline at 30 September 2016 represented £1.42 billion of future revenue to be recognised by Telford Homes and comprised over 4,000 homes including joint ventures. The average anticipated price of open market homes in the Group's future development pipeline is £517,000 which remains well within the Board's desired price range ensuring future developments are within the reach of a broad range of owners, investors and tenants.30 Nov 16 Peel Hunt Buy 317.38 485.00 485.00 Retains Still time to get in for the 7.2 interim dividend ex. 8th Dec. What a gift & I totally agree ' What isthere not to like' ?
ookyfly
30 Nov 2016
Results Excellent set of results. Forward revenue strong, dividend up, compelling concept, what''s not to like?
Hydrogen Economy
25 Nov 2016
IC "Build-to-rent gathers momentum" Some interesting comment on many financial and other companies getting into this sector including the visibility that is giving for TEF earnings.TEF has been one of the stronger performers in the last few weeks, presumably relfecting the hammering it had before and the opportunities described below. My holding in TEF is small, could be tempted to add a few.H2.[link] London focused housebuilder Telford Homes (TEF), which already has more than half of its targeted revenue for the next three years in the bag, has also shifted its focus more towards the private rental sector, with around a quarter of all sales now made to institutional investors. Also working on a forward-funded basis, it has sold a site in north London to London housing association L&Q for £67m and another site to M&G Real Estate for £63m.
Eadwig
09 Nov 2016
Re: Div There has been a movement of money into UK-centric shares today, including house builders, it hasn't yet filtered through to AIM builders though,It may do yet if it continues. Not so much happening with the dollar weakening as I expected with a Trump win, US markets will open well down, but if they recover from there, this may all be a flash in the pan,Shame, could have done with a Clinton win relief rally but we have to play the hand we're dealt,
city watcher
08 Nov 2016
Re: Div The interim dividend could be a good reason to buy in very soon, just in case they rally after Hillary get's The Whitehouse. Wednesday onwards I'll see if I was right. There may be a shock (Brexit comparison) result. But the Broker's view still stands for now.12 Oct 16 Peel Hunt Buy 301.50 485.00 485.00 Retains [link]
Eadwig
25 Oct 2016
Re: Div They said it will be in-line with this full year's expected profits, but not what the amount would be. 7.7p was last year's final div, its the interim coming up. 6.0p was the interim last year - which was the same as the final div of the year before. I see where you are coming from.They did that the year before too. So, you might well be right.30 November for Interim Results for 6 months ended 30 September 2016, so it will be a while yet before we find out.
poetles
25 Oct 2016
Div Will the next interim be 7.7p ?
city watcher
14 Oct 2016
Confident Pitch 12th Oct. [link]
II Editor
12 Oct 2016
NEW ARTICLE: Telford Homes at bargain basement prices "London-based housebuilder LSE:TEF:Telford Homes has seen a bounce in sales following the EU referendum in another sign that the UK economy is holding up despite doomsday predictions. Investors clearly have faith in the cyclical housing sector, ..."[link]
PIE-EATER
12 Oct 2016
Re: sensible update Clear indication of what is likely to happen on the ground, and when, gives market confidence.c 5% rise is the result at the moment on a generally down market start.
coldascheese
12 Oct 2016
Re: sensible update This isthe bit I like Interim dividend to increase in accordance with anticipated full year profit growth
dazedandconfused
12 Oct 2016
sensible update Although captioned by press as a profit warning, the market plainly reads good news into this latest Press release; no skeletons found, and reality about the East London marketplace. I'll remain a long-term holder, not least because some added stocks last year were at nearer £4!
the last night trader
31 Aug 2016
Re: Nice rise. Simon Thomson of Investors Cron said on 23rd AUG..... not saying the rise is down to him, but the share moved up ever since it was published midday on Aug 23rd! I feel investors are being overly cautious in their valuation of East London housebuilder Telford Homes (TEF:289p). It’s a company I know well having included the shares in my 2012 Bargain Shares portfolio at a bargain basement 91p and banked a 124 per cent gain on the holding within a year.Admittedly, I was premature in doing so as Telford’s shares continued to make hefty gains on the back of the London housing market boom, peaking at a record high of 495p in May last year. In the circumstances, it’s hardly surprising that some investors have taken the opportunity to bank some profits since then. However, having seen Telford’s share price de-rate sharply from those highs, the risk:reward ratio looks very favourable to me both from a technical and fundamental perspective.Interestingly, the post-EU referendum trough in the share price coincides exactly with the low point two years ago when shares in UK housebuilders were being battered during that summer’s market turmoil. Also, there is positive divergence on the chart with the 14-day relative strength indicator (RSI) failing to confirm the lower price lows hit post the EU Referendum, a good indicator that a bottom could be in place. In addition, Telford's share price seems to be exerting pressure on its summer highs of 300p, creating a sequence of higher lows each time that this price point is being tested. From my lens a least, a break-out above the 300p price level appears a distinct possibility and one that would pave the way for a relatively quick return to the May highs around 370p.Importantly, the fundamentals are supportive of such a technical break-out. Not only are the shares trading on a modest 7.5 times earnings reported for the 12 months to end-March 2016, but they offer a dividend yield of almost 5 per cent with solid prospects for another double-digit rise in the payout in the current financial year. Also, Telford’s equity is being valued at only £216m, or 1.16 times book value, a valuation that fails to reflect £640m-worth of contracted forward sales, representing well over half of the cumulative revenue of £1.05bn which analyst Gavin Jago at brokerage Peel Hunt predicts the company will generate over the next three years.Furthermore, the secured revenue gives significant weight to analysts’ expectations that Telford will be able to grow its pre-tax profit from a record £32m in the last financial year to £52m in the 12 months to end March 2019, a performance that would propel EPS up by 43 per cent to 55.8p. I have good reason to think these growth forecasts are achievable too.Smart deal makingThe first point I would make is that Telford took the opportunity last autumn to raise £50m in a placing at 360p a share to exploit a number of opportunities to acquire new developments.The board led by chief executive Jon Di-Stefano didn’t waste any time deploying the fresh capital either. A month later Telford purchased a site on Carmen Street in Poplar, east London with full detailed planning consent for a 22-storey development, consisting of 206 new homes including 56 affordable homes and a nursery. The development is located close to Langdon Park Station, which is less than ten minutes from Canary Wharf on the Docklands Light Railway (DLR). Crossrail at Canary Wharf will further improve transport connections in Poplar, and as a result the area is expected to see significant development in the coming years.Telford paid in excess of £20m when it completed the land acquisition in April this year. The following month it sold the freehold interest in the land and the construction of 150 open market homes together with commercial space for net consideration of £63.2m to M&G Real Estate, one of the UK's largest property investors. The sale was made on a forward funded basis and comp
uselessbaba
30 Aug 2016
Nice rise. Nice rise over the last week on the highest volume of the month, over 500k on the last 5 trading days suggests that the worm has turned and the current trend should be sustainable.UB.
Eadwig
24 Aug 2016
Re: Bought in DS, "Really ought to be higher. but market keeps selling into any rise, and indexes look toppy. "LLooks like the housing sector has finally broken out of that sideways movement that especially the London-centric builders seemed to be trapped in the last few weeks. The trading report from Persimmon, and specifically its post Brexit impact comments have moved everything upwards.PSN have very little exposure to London. I'm not wholly convinced they are the best guide, but it seems good enough for the markets. Unfortunately I never quite got to add when TEF was down around the @260p mark, despite having limit orders set. If I had, I'd definitely be selling a tranche or two right now to take some profit and bring down my average which is still underwater (in two different accounts, both with cash limits, which has made it difficult to trade this stock for me).TEF and smaller builders, especially affordable housing specialists, look set to gain greatly from the government's Autumn statement housing plans. So I definitely wouldn't be selling all, even though I am still cautious about holding in the sector post Brexit ... I say that, yet I have holdings in TEF, INL, PSN, TW and ESP. I'm only underwater in TEF, which goes back to that placement @360p which was below my average holding price in both accounts at the time, and which P.I.s couldn't take part in. Closed @320p today, highest close since Brexit. Let's hope the next builder to report has similar things to say as PSN did... I wondefr which it is, anyone know?
