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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Green Reit Plc | GRN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.84 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.84 |
| Top Posts |
|---|
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/investmen (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 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: GRN16 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-s Tran 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@gravityd or visit our Website at: www.gravitydiamonds. |
Posted at 13/4/2006 06:27 by rubstone Level 7 Exchange Tower530 Little Collins Street Melbourne Victoria 3000 GPO Box 4690 Melbourne Victoria 3001 Tel +61 3 9909 7655 Fax +61 3 9909 7585 grninfo@gravitydiamo www.gravitydiamonds. 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@gravityd or visit our Website at: www.gravitydiamonds. |
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. |
Posted at 08/4/2006 06:13 by rubstone Hyper Al BHP Biliton owns 10.7% of GRN. |
Posted at 03/4/2006 12:19 by rubstone Gravity Diamonds Limited 03 April 2006 RELEASED ON BEHALF OF: GRAVITY DIAMONDS LIMITED (ASX & AIM : GRN) 3 April 2006 PLANS ADVANCE TO BULK SAMPLE ABNER RANGE DIAMOND PIPE Please refer to the attached PDF for the latest Australian project update of Gravity Diamonds Limited. Paste the following link into your web browser to download the PDF document related to this announcement: The information in this release has been compiled and reviewed 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 be a qualified person for the purposes of the AIM Guidance Note for the Mining and Oil and Gas Companies issued on 16 March 2006. Further Information: Phil Harman, Managing Director, Gravity Diamonds Ltd. Tel: +61-3-9909-7655 Elisa Bartlett, Assistant to the Managing Director, Gravity Diamonds Ltd. Tel: +61-3-9909-7655 Ron Marshman/John Greenhalgh, City of London PR Ltd. Tel: 020-7628-5518 This information is provided by RNS The company news service from the London Stock Exchange END MSCIIFITSRIVIIR |
Posted at 31/3/2006 15:31 by sam miller Picton report on GRN reading interesting. Methinks they may have grand potential in the DRC. Any other companies operating out there? |
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