Share Name Share Symbol Market Type Share ISIN Share Description
Ground Rents LSE:GRIO London Ordinary Share GB00B715WG26 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.75p +0.59% 128.75p 127.00p 130.50p 128.75p 128.00p 128.00p 106,506 10:37:47
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 4.2 12.4 13.8 9.3 119.90

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Date Time Title Posts
07/10/201607:07:::: GROUND RENTS INCOME FUND ::::56
04/4/201310:17Ground Rents Income Fund plc - Investment Trust1

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Ground Rents Daily Update: Ground Rents is listed in the General Financial sector of the London Stock Exchange with ticker GRIO. The last closing price for Ground Rents was 128p.
Ground Rents has a 4 week average price of 126.88p and a 12 week average price of 126.07p.
The 1 year high share price is 129.75p while the 1 year low share price is currently 110p.
There are currently 93,124,311 shares in issue and the average daily traded volume is 82,269 shares. The market capitalisation of Ground Rents is £119,897,550.41.
jonwig: Pavey - some good points. I've just checked, and can't find reference to a target yield on NAV of 4.4%. The current 3.3% is the one I'm assuming will hold for now. The yield won't be so high because capital appreciation has kicked in over the past couple of years, so you're getting total return rather than income yield. Agreed the share price got a bit toppy, but has come back with a premium now of only about 4% to NAV. Again on the plus side, much of the portfolio is either index-linked or periodic doubling, so you've got - hopefully - protection from inflation. Also, shouldn't be too highly correlated with the property sector in general. A possible minus: they might get carried away and get excessively geared, buying ground rents at too high a price. On balance, my view is very much yours of "buy and forget". Fortunately my purchases were below 105p. EDIT: I see there was some discussion of target yields earlier on this thread, but the figures mentioned are "history" now!
pavey ark: I've been looking these over and have spent some time getting into the world of ground rents (new to me) but have to say I was rather disappointed with the recent dividend announcement and with it a running yield of c. 3.2%. Now wondering about whither to include these in a new portfolio I was setting up. My new shares were intended as a buy and forget income stream so these should have fitted the bill but with the possibility of interest rates rising and inflation looking rather subdued I think there may be better options. I wonder if I've missed something and I know there was a lot of corporate action ,fund raising,shares issued,fairly heavy buying of ground rents with remaining cash so this could have impacted on this year's cash ? These may be considered a safe investment but they are trading above asset value ( most recent figures I could find) and if the yield target is 4.4% I certainly don't see much upside on the share price for some time to come.
jonwig: FY results and full annual report: For the first time, they have put a figure on the dividend policy (page 17): The Directors set an annualised target dividend yield of 4.4 per cent. per annum, in May 2013, calculated on the issue price of the ordinary and convertible preference shares and on the assumption that all of the net proceeds from the share issues have been invested in accordance with the Company's investment strategy and that the convertible preference shares issued in May 2013 have been converted into ordinary shares. I also have a sense that they admit it will be hard to meet this, since prices of prime GRs are being bid higher than they are happy with. That, of course, means more of the share price return will be capital.
jonwig: Their balance sheet hasn't the distributable reserves to pay a dividend, so they are going to the trouble and expense of convening a meeting and a high court ruling on removing the share premium account, simply in order to give investors of two months a bit of their money back. Since most of these will be institutions, they might need the income to satisfy income fund targets. Ultimately, retail investors will bear the costs. I've no idea what the settled-down earnings will be here, but the share price seems to be deflating, which suits me. Reminder about the warrants: Under the Placing and the Subscription, Warrants will be issued for nil consideration on the basis of one Warrant for every five Subscription Shares. The Warrants are constituted by, and will be issued subject to and with the benefit of the Warrant Instrument. Warrantholders will be bound by all the terms and conditions set out in the Warrant Instrument. A Warrantholder shall have the right ("Subscription Rights") to subscribe in cash (£1.00) ("Exercise Amount") for the number of Ordinary Shares to which he is entitled on 31 August in each year following Admission up to and including 31 August 2022 ("Subscription Date"). The number of Ordinary Shares to which each Warrant relates is (prior to any adjustment in accordance with the Warrant Instrument) one Share.
Ground Rents share price data is direct from the London Stock Exchange
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