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Prices & Quotes - UK Markets - Workspace Group (WKP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 880.00p
Change Today:
14.00p
Market Cap:
1,593.82m
Sector:
Real Estate Investment Trusts

JPMorgan hikes price target on Workspace

By Michele Maatouk

Date: Wednesday 16 Dec 2020

LONDON (ShareCast) - (Sharecast News) - JPMorgan Cazenove hiked its price target on office space provider Workspace on Wednesday to 820p from 700p.
The bank said potential for further lockdowns early next year cannot be ruled out, putting an overhang on what could have been a "more normal" letting period for the company. As a result, it is not surprised the shares have fallen 6% over the last week.

"However, a more constructive view, we think, can be formed looking beyond 1Q21, with the vaccine rollout and anticipated onset of the economic recovery (barring any further shocks)," JPM said. "We therefore expect WKP shares to be firmly higher on a 12 months view."

JPM said the valuation argument has closed since late September, with the shares rallying from a more than 50% discount and capital value of around 400 per square foot.

"But, despite this, we still see the current valuation as attractive should there be no further shocks to the economy," it said, adding that its base case is for a Brexit deal.

JPM maintained its 'overweight' rating on Workspace.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Workspace Group Market Data

Currency UK Pounds
Price 880.00p
Change Today 14.00p
52 Week High 920.50p
52 Week Low 482.40p
Volume 83,361
Shares Issued 181.12m
Market Cap 1,593.82m

Performance Indicators

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Dividend Yield
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Operating Margin
Not Available

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 5
Sell 1
Strong Sell 2
Total 11
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Workspace Group Dividends

  Latest Previous
  Final Final
Ex-Div 01-Jul-21 02-Jul-20
Paid 06-Aug-21 07-Aug-20
Amount 17.75p 24.49p

Trades for 14-Jun-2021

Time Volume / Share Price
11:38 150 @ 879.37p
11:36 2,836 @ 880.87p
11:30 83 @ 880.00p
11:29 84 @ 880.00p
11:29 100 @ 880.00p

Workspace Group Key Personnel

CEO Graham Clemett
CFO David Benson