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GRN Green Reit Plc

1.84
0.00 (0.00%)
17 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Green Reit Plc LSE:GRN London Ordinary Share IE00BBR67J55 ORDS EUR0.10
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 1.84 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
1.902 1.916
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.84 EUR

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Date Time Title Posts
14/8/201907:22Green REIT plc5
18/6/201213:28 Ipath Global Carbon Etn-
22/11/201011:44Green company focus20
25/3/200715:47GRAVITY DIAMONDS: DIAMONDS IN THE DRC80
08/3/200623:52Gravity Heading for 6p !!!!!!!!3

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Posted at 29/12/2016 04:46 by wexboy
2016 – The Great Irish Share Valuation Project (Part IV):

Company: Green REIT (GRN:ID)

Last TGISVP Post: Here

Market Cap: EUR 926 Million

Price: EUR 1.341

Back in 2014, I pegged Green REIT’s fair value equal to its initial EUR 0.967 NAV. Looking at the share price today, that might seem like an awful call…but I’d disagree. Because GRN’s a good example of a mistake too many investors make: No matter how confident you might be about a company’s prospects, overpaying doesn’t just reduce or even eliminate your margin of safety, it may also rob you of expected future returns. Case in point: While I expected Green’s NAV (& in turn, my fair value estimate) to appreciate, I’m impressed to see a total NAV return (inc. dividends) of almost 60% (18.6% pa) here since early-2014! Unfortunately, investors were happy to pay up at the time, so they must look back & reference a EUR 1.20 market price (which inc. a significant NAV premium) for performance purposes. Almost inevitably, that premium’s now evaporated, leaving GRN trading at a discount…so instead, shareholders barely realised an 18% gain (6.1% pa, again inc. dividends), less than a third of the underlying NAV return! On average, you’d expect a better return from the market itself (in fact, the ISEQ was a far better bet)…so much for capitalising on a great stock/story!?

Overall, my valuation perspective hasn’t changed. Prime office yields in Dublin have moved lower (4.65%, per latest CBRE updates), with Green REIT close behind on a 5.2% portfolio yield. Obviously, Brexit presents a potential economic threat (& has clearly knocked sentiment)…but then again, the harder the Brexit, the more attractive Dublin likely becomes as an EU relocation/investment destination. And GRN looks well placed anyway, with 93% of its portfolio focused on Dublin, a 98% occupancy rate, and total gearing of just 19%. Applying a 1.0 Price/Book multiple, and adjusting for the recent annual dividend payment, we get:

(EUR 1.52 Dil EPRA NAV – 0.046 Div) * 1.0 P/B = EUR 1.47

Green REIT looks marginally under-valued here. And I don’t consider the recent NAV discount swing cause for alarm – experienced investors should be used to a 10-20% premium/discount appearing on a regular basis, presuming underlying NAV looks realistic (which it does, based on current yield/other metrics). However, progress will be tougher from here on – not to denigrate the Irish REITs, but gains to date were primarily derived buying in bulk from the banks & NAMA at 7-8.0% yields & then progressively marking down portfolios towards a 5.0% yield. More active portfolio management, reversionary rent potential & development opportunities/gains will now become far more important. But despite this recent (& extraordinarily biased) Phoenix article, shareholders here can draw comfort from having Stephen Vernon as Chairman (of GRN’s Investment Manager) – his reputation in the Irish property market precedes him…

Price Target: EUR 1.47

Upside/(Downside): 10%

For related links/graphs/files & other TGISVP analyses/price targets: Google the Wexboy investment blog.
Posted at 18/6/2012 13:28 by praipus
AMEX:GRN American Stock Exchange





BB for the other carbon ETF CARB
Posted at 31/5/2009 20:58 by shroder
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HEGY - Helius Energy - UK biofuel power generation development company


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CAO - Camco - carbon trading and project development company

+PPM - Parry People Movers (PLUS quoted) - flywheel light transit (rail) technology


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REH - Renewable Energy Holdings - interests in wave, solar, wind and landfill gas energy


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EAGA


ITM - ITM Power - fuel cell company
Posted at 31/5/2009 20:58 by shroder
The global move towards more environmentally friendly and sustainable sources of energy will no doubt have it's fair share of winners and losers.



There are some parallels to the dot com boom which sent the NASDAQ over 5,000 until realistic valuations could be applied based on actual earnings.

I wanted to have a 'one stop shop' which summarises with some detail those companies which may benefit but also to look at the bigger picture 'drivers' such as government regulation.

I'll kick off with three companies which I believe will play a significant part in the green revolution -


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Nov 2010





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ZEN - Zenergy - superconductor company - for more efficient energy distribution


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AFC Energy PLC is a commercially focussed, very low-cost fuel cell company, and we're entering the market place by targeting waste hydrogen applications.


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Superglass Holdings PLC ("Superglass" or the "Group"), one of the UK's leading
manufacturers of glass mineral fibre insulation products for the property
market


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Origo Partners



Hydrodec

Hydrodec's innovation, patented technology and know-how create a new higher value paradigm for mineral oil products and petrochemical materials management.

We provide a unique long term global source of cost effective and supply secure specialty mineral oil products with long term price stability and large long term sustainability and environmental advantages.

Our technology and know how offers advanced re-manufacturing technology for petrochemical by-product materials and "Persistent Organic Pollutants."
Posted at 22/10/2006 10:28 by wassapper
Mentioned in this related story

Mwana Africa Spreads Its Wings

By Rob Davies

A junior mining company with £40million of net cash in the bank is going to be pretty popular these days as investors tighten their grip on their cheque books. Raising £42million in March was a well timed issue for Mwana Africa and puts the company in a strong position to pick up additional projects. However, that has not stopped the market pushing the shares down from the issue price of 63p to today's level of just over 30p. Even at that it is still capitalised at £78million so it is one of the bigger fish on AIM. ...more ...
Posted at 19/9/2006 04:45 by sam miller
Geological: Kasai craton good. Financial: I accumulate GRN. DYOR
Posted at 13/9/2006 17:37 by arf dysg
Rubstone, interesting to see you here. Do you think that GRN have serious prospects?
Posted at 16/5/2006 07:50 by rubstone
ASX & AIM Code: GRN
16 May 2006

GRAVITY STARTS DRILLING NINE OF ITS BEST TARGETS IN KASAI PROGRAM, DRC

All located in area of artisanal diamond mining and kimberlitic indicators

On-site identification of kimberlite in drill core should be possible

Transport and support helicopter returns after scheduled servicing

Gravity Diamonds Limited has begun drilling the nine highest priority magnetic targets in its Luebo project area of the Democratic Republic of Congo ("DRC"). The drilling is seeking to identify diamondiferous kimberlite pipes believed to be the source of the alluvial diamonds being recovered by artisanal miners in local rivers.

The company says its planned 3,000 metre drilling program in the Luebo area of the highly prospective Kasai Craton is progressing well but drilling had been suspended since mid-April for planned maintenance of the helicopter required to move the drill rig between sites.

During this break in field activities, Gravity has reviewed the results from the drilling program thus far and re-evaluated the nine magnetic targets identified for this round of drilling. These targets have been scheduled at the conclusion of the Luebo program because they are located in forested surroundings where the company has had to provide its own access. They are the most remote but most exciting, according to Gravity managing director Mr Phil Harman.

The nine targets are located within 30 kilometres of the Luebo township from where the drilling program is being managed. All drill sites have been fully prepared and water supply lines installed, this work being completed prior to the recent field break, advises Gravity.

The activities of the artisanal miners in the local river systems provide the main pointer to the presence of diamondiferous kimberlites in the area, also supported by the numerous positive kimberlitic indicator mineral ("KIM") results returned from Gravity's earlier sampling program.
The company completed more detailed KIM sampling in February and the laboratory results of this work will be evaluated as they come to hand. This should enable Gravity to identify and prioritise additional magnetic targets for subsequent drilling.

The magnetic targets being investigated can be generated by rock types other than kimberlite but in areas with younger sedimentary rock cover, such as Luebo, the only way to test these targets is by drilling, states Phil Harman.

Under normal circumstances, where reasonably fresh rock is recovered in the drill core it should be possible for geologists in the field to recognise the presence of kimberlitic rocks. Gravity is fully aware of the market sensitivities of this possibility. However, analysis of the diamond potential of any such kimberlitic rocks that are identified would require a more detailed follow-up laboratory assessment and evaluation by the company.

The Kasai Craton extends over the border into Angola where 77 kimberlites have been discovered: only 11 having been found to date in the less explored DRC section of the Craton. Gravity's Kasai exploration program is being carried out under the terms of a Framework Agreement with BHP Billiton and various option agreements with other local companies.

The information in this release is compiled by Gravity Diamonds Limited's Managing Director, Phillip Harman BSc (Hons), who is a member of The Australasian Institute of Mining and Metallurgy. Mr Harman has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Harman has consented to the inclusion of this information in the form and context in which it appears in this report.

For further details please contact:
Phil Harman or Elisa Bartlett
Tel: (03) 9909 7655
E-mail: phil.harman@gravitydiamonds.com.au or elisa.bartlett@gravitydiamonds.com.au
or visit our Website at: www.gravitydiamonds.com.au
Posted at 13/4/2006 06:27 by rubstone
Level 7 Exchange Tower
530 Little Collins Street
Melbourne Victoria 3000
GPO Box 4690
Melbourne Victoria 3001
Tel +61 3 9909 7655 Fax +61 3 9909 7585
grninfo@gravitydiamonds.com.au
www.gravitydiamonds.com.au
060050GRN.doc
ASX/AIM RELEASE
ASX & AIM Code: GRN
13 April 2006
Gravity's MD to Present at Internet Mining Conference
Gravity Diamonds Limited is pleased to advise that the company's managing director, Phil Harman,
will be presenting along with Goldcorp and other companies at the Precious Metals and Mining
On-line Forum being hosted in New York.
This on-line forum is to commence at 2.00pm British Standard Time (BST), Thursday, 13 April
2006 with the equivalent Australian Eastern Standard Time (AEST) being 11.00pm. For Australian
"night owls", Phil Harman's presentation is programmed for AEST 3.30am Friday, 14 April 2006.
Free investor participation in this internet event can be obtained through signing on at
Presentations will be stored
in the site's archives immediately after the forum and retained for 12 months.
For further details please contact:
Phil Harman or Elisa Bartlett
Tel: (03) 9909 7655
E-mail: phil.harman@gravitydiamonds.com.au or elisa.bartlett@gravitydiamonds.com.au
or visit our Website at: www.gravitydiamonds.com.au
Posted at 08/4/2006 11:37 by andy
rubstone,

I left you a question re "stong water" on the FDI thread.

I saw the Minesite presentation of GRN, and met the guy afterwards, and had I had some spare funds at the time, I would probably have made an initial investment.

Since then the price has halved, and I am now going to follow the stock more closely becase it may prove to be a good entry point.

I know a student form the DRC, and he assures me that the area where GRN are is well away form the normal areas of conflict within that country, and the government "look after" the diamond areas.
Green Reit share price data is direct from the London Stock Exchange

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