Vistry dividend forecast upgraded by Barclays


Broker Barclays has increased its dividend estimates for Vistry Group PLC (LSE:VTY), following the housebuilder’s recent interims.

Vistry raised its guidance for dividend cover to two times earnings from this year and in response, Barclays has upgraded its forecast for dividends to an increase of 44% for 2021, 16% for 2022 and 3% for 2023.

The builder also revised up its full-year profit guidance in its interims statement to pretax profits of GBP345mln from GBP325mln. Barclays said it now expects Vistry’s pretax profits for 2021 to be GBP349mln.

The broker rates Vistry “Overweight” with a price target of 1,600p.

Shares were 1.84% lower at 1,199.50p early afternoon.

Read: Vistry tipped as ‘buy’ as stockbroker eyes margin improvement


Please enter your comment!
Please enter your name here