Housebuilder and urban regeneration partner Countryside Properties has expanded its strategic partnership with Sigma Capital Group to deliver a further 5,000 private rental sector homes over the next three years.
Countryside Properties posted a jump in half-year completions, revenue and profit on Thursday, as it expressed confidence in the medium term and bumped up its dividend.
(WebFG News) - Countryside Properties was in the red on Friday after OCM Luxembourg Coppice Topco - an entity owner by asset manager Oaktree Capital - sold its entire 8% stake in the housebuilder and urban regeneration company.
FTSE 250 housebuilder and urban regeneration partner Countryside Properties posted a 15% jump in first-half completions on Wednesday, but selling prices fell.
Rentokil: Deutsche Bank downgrades to hold with a target price of 310p.
Countryside Properties has acquired Leicester-based partnerships housebuilder Westleigh for up to £135.4m in cash on a debt free and cash free basis.
Barclays upgraded Countryside Properties to 'overweight' from 'equalweight' and lifted the price target to 379p from 359p on the back of an increase in its valuation for the Partnerships division, as it took a look at UK housebuilders.
Countryside Properties said on Thursday that it had a "strong" first quarter and is trading in line with expectations for the full year, as it reported a 47% jump in total completions.
Housebuilder and regeneration partner Countryside Properties was under the cosh on Friday after private equity firm Oaktree Capital - its largest shareholder - sold a 15% stake in the group.
Housebuilder and regeneration partner Countryside Properties posted a rise in annual operating profit on Wednesday as revenue and completions grew amid strong demand.
The government has proposed a major state housebuilding push to ease the housing crisis, with one side-effect being an end to the "cosy and golden trading climate" that large building companies currently enjoy.
Countryside Properties posted a jump in completions on Wednesday thanks to strong demand from first-time buyers and low interest rates.
ITV: Barclays upgrades to Overweight with a target price of 200p.
JPMorgan Cazenove downgraded Countryside Properties to 'neutral' from 'overweight' following a period of strong performance, keeping the price target at 335p, as it took a look at the UK housebuilders.
Housebuilder and urban regeneration specialist Countryside Properties reported strong growth in its third quarter of its financial year, though its shares were caught up in renewed angst about the housing sector.
National Grid: HSBC upgrades to Buy with a target price of 1060p.
Divisional chief executives Richard Cherry and Graham Cherry have sold just over 11m shares in Countryside Properties, or a stake of around 2.4%, at 325p per share.
TalkTalk: RBC upgrades to Outperform with a target price of 225p.
Countryside Properties expects full year profits to be ahead of market forecasts after a strong performance from its partnerships division and a refocus on the middle of the private housing market, with the average selling price for its houses falling 13% but group earnings more the doubling.
Berenberg initiated coverage of Countryside Properties at a 'buy' ahead of an expected announcement by management to ramp up the business.