Vistry Group PLC (LSE:VTY) shares rose 2.8% to 645.8p after the housebuilder reaffirmed its full-year outlook, saying it still expects a year-on-year rise in profits despite a tough housing market. Ahead of the third-quarter trading update, said broker Panmure Liberum, "many commentators were assuming that Vistry would disappoint", following half-year results in September that did just that.
Vistry Group PLC's (LSE:VTY) focus on affordable and build-to-rent housing may finally be set to pay off. Analysts at Panmure Liberum have reinitiated coverage of the UK's largest housebuilder with a “buy” rating and a 725p target price, arguing that investors are overlooking the company's position at the heart of the government's housing plans.
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| Real Estate Management & Development Industry | Real Estate Sector | Mr. Gregory Paul Fitzgerald CEO | OTC PINK Exchange | GB0001859296 ISIN |
| GB Country | 4,587 Employees | 20 Apr 2023 Last Dividend | 24 Dec 2019 Last Split | - IPO Date |
Vistry Group PLC is a prominent housebuilding company based in the United Kingdom, with a rich history dating back to its founding in 1885. Initially known as Bovis Homes Group PLC, the company underwent a rebranding process in January 2020, adopting the name Vistry Group PLC to better reflect its evolved business and strategic direction. With its headquarters in West Malling, the United Kingdom, Vistry Group operates across the country, providing a range of housing options that cater to various market segments. As of December 31, 2021, the company has a significant presence in the real estate market, with 42,770 controlled land bank plots and an additional 40,000 strategic land bank plots under its management. This extensive land bank underpins the company's ability to continue growing and meeting the diverse needs of its customers.
Vistry Group PLC specializes in the development and sale of a wide range of residential properties, spanning from compact one-bedroom apartments ideal for first-time buyers or individuals, to spacious five-bedroom family homes designed to cater to the needs of larger families or those seeking additional space. By offering a diverse portfolio of property types, Vistry Group ensures that it can meet the varying preferences and budgets of its customers, making it a versatile option for homebuyers across the United Kingdom.