Gcp Infrastructure Investments Limited

-0.60 (-0.73%)
Share Name Share Symbol Market Type Share ISIN Share Description
Gcp Infrastructure Investments Limited LSE:GCP London Ordinary Share JE00B6173J15 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.60 -0.73% 81.20 1,908,428 16:29:56
Bid Price Offer Price High Price Low Price Open Price
81.20 81.60 82.30 81.10 82.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Unit Inv Tr, Closed-end Mgmt 157.10 140.32 15.90 5.11 717.40
Last Trade Time Trade Type Trade Size Trade Price Currency
17:50:37 O 4,159 81.20 GBX

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Date Time Title Posts
11/11/200014:07Granada Compass drop13

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Posted at 26/5/2023 16:46 by spoole5
GCP Infra today announces that pursuant to the general authority granted by shareholders of the Company at the annual general meeting on 15 February 2023 to make market purchases of its own ordinary shares, it repurchased 250,000 ordinary shares at a weighted average price of 82.20 pence per share, to be held in treasury, on 26 May 2023
Posted at 24/5/2023 16:56 by spectoacc
I think we did for the population nonsense :)

Meanwhile - GCP's buyback perhaps not looking so clever. What was the highest price paid recently?

Posted at 24/5/2023 14:23 by stewart64
83.8p the all-time low I believe, so we might be approaching the bottom soon. I don't think the inflation news has ever been worse than this morning since GCP formed so today's price is to be expected. We are the most removed from international comparisons now and though we were expecting the spike last year ( when the headline rate was much higher), we were promised a quick drop by the clueless Governor. It's not happening.
Posted at 24/5/2023 08:49 by spectoacc
Restoring BoE credibility is going to take some seriously sustained rates IMO, & that will/should cause recession.

Market moved out to 5.5% possible peak from 5%, but to me that's all at the margins - what matters is that ZIRP is over, and rates now are the new normal. IMO investors haven't adjusted for that yet.

Bailey definitely failed in not getting ahead of the curve - who on earth believed "transitory"? Yes, very difficult to deal with cost-push, but a central banker's job is not to allow it to turn into what we now have, which is wage-price.

GCP coming up for an important test soon - will be tempted to buy more if it holds.

Posted at 27/4/2023 07:48 by speedsgh
Company update and net asset value(s) - HTTPS://otp.tools.investis.com/clients/uk/gravis_capital_partners2/rns-infra/regulatory-story1.aspx?cid=719&newsid=1683856

GCP Infra announces that at close of business on 31 March 2023, the unaudited net asset value per ordinary share of the Company was 112.24 pence (31 December 2022: 113.59 pence), a decrease of 1.35 pence per ordinary share. The net asset value takes into account cash, other assets, accrued liabilities and expenses and leverage (if any) of the Company attributable to the ordinary share class.

The recent fall in electricity prices in both Great Britain and Ireland has decreased actual and forecast cash distributions to the Company from its renewables investment portfolio, although this has been partially offset by the Company's electricity price hedging arrangements. The resulting net movement in valuation from electricity prices was (1.19) pence per ordinary share. This has been primarily driven by a decline in short-term electricity prices, resulting from reduced gas prices associated with lower European gas demand, an ample supply of LNG, and unseasonably mild weather. Further, UK carbon prices have decreased as the UK emissions trading scheme converges with the equivalent EU scheme. Quarterly movements in long-term electricity price forecasts were relatively flat. The Company's approach to forecasting short and long-term electricity prices remains consistent with prior periods.

Increases to discount rates led to a reduction of (0.27) pence per ordinary share, coupled with various other downward movements across the portfolio totalling (0.08) pence per ordinary share, offset by updated OBR inflation forecasts that contributed 0.19 pence per ordinary share. A summary of the constituent movements in the quarterly net asset value per ordinary share is shown below. The weighted average discount rate used by the Company to value its investment portfolio was 7.44% at 31 March 2023.


Dividend Declaration - HTTPS://www.londonstockexchange.com/news-article/GCP/dividend-declaration/15933722

GCP Infra is pleased to announce a dividend of 1.75 pence per ordinary share, for the period from 1 January 2023 to 31 March 2023. The dividend will be paid on 14 June 2023 to holders of ordinary shares recorded on the register as at the close of business on 12 May 2023...

Posted at 28/3/2023 13:10 by cc2014

Price of gas has collapsed and along with it electricity prices.
Add to that interest rate at 4.25%
70% is renewables. The 10% in co-living is definitely not the sector to be in.

Question: If the FTSE goes to 7000 what then for the share price of GCP?

Posted at 15/3/2023 12:29 by kenmitch

Does it “make sense” for GCP to buy back? Where’s the evidence to support that claim?

I look at what actually happens when Trusts and Companions buy back. I.e instead of just promoting the theory, which I also think is convincing, I then look at what subsequently happened. And time and time again those buybacks are followed by share price falls, not least because those who benefit the most from buybacks are those selling, as they have a willing buyer for their shares!

Buyback fans always respond to posts critical of buybacks including evidence to support that criticism, ONLY with the theory. I agree with the theory too.

e.g Abdn have been buying back since 2017. They started at £5 and the share never again reached that price, and despite year after year of buying back, the share fell to just £1.40p for a 70% share price fall….despite those buybacks.

e.g Whitbread “rewarded̶1; their shareholders by returning nearly all the £2 billion or so proceeds they got from the sale of their Costa business via buybacks. Again shareholders didn’t get a penny in reality because the share price never again reached the starting price of those buybacks.

Of course sometimes share prices DO go up when Companies and Trusts are buying back, but that’s when others in the sector are also seeing share price gains. And what evidence there is (e,g Morgan Stanley Research on buybacks) showed that often share prices of Companies buying back, underperformed others in the sector that didn’t.

Posted at 15/3/2023 12:02 by donald pond
I think there are 2 issues with the NAV: the first is the pull to par point. As a lot of GCPs investments are long term, it will be longer before they get back the final capital bullet payment. The second is the exposure to social housing, which clearly is a sector shrouded with doubts at the moment. But the fund was established originally just after the GFC precisely to be a vehicle that could steadily perform. The gyrations of the share price really don't seem to reflect the steady, generally undramatic performance of the underlying assets.
Posted at 14/3/2023 12:39 by kenmitch
For those convinced that buybacks are a good idea, this is a section of a post I put on the PDSL (Phoenix Spree Deutschland) earlier today. How successful were their buybacks? What happened with PDSL happens over and over again!

“PSDL started their last series of buybacks in June 2021 when the discount to NAV was 17% “a level that does not reflect the track record and performance of the Portfolio.”

The share price at the start of those buybacks was 397p compared with 236p now.

When those buybacks concluded in July 2022 the share price had fallen from the near £4 at the start of them to £3.20 and that “too wide discount” had widened further.

Earlier in September 2019 “the Company has bought back 5.1% of its shares as part of a buyback strategy designed to limit the downside risk to the share price.” Share price then was 390p.

Did those expensive buybacks achieve their aim of “limiting the downside risk to the share price?”

In their interim results in September 2022 (two months after completion of buybacks) PSDL reported “€63 million has been returned to shareholders from dividends and buybacks.”


The share price has fallen 40% from £4 at the start of those buybacks, to just £2.36! Is that really “returning money to shareholders” or is it in reality a 40% loss?

Now that the share price looks really cheap and at a massive 52% discount, compared with the 17% discount PSDL were keen to narrow via buybacks, perhaps there IS a case for buying back now. But they have stopped buybacks!

I bought PSDL too soon and am 16% down. I’m looking to average down but will wait for their results just in case there’s a big fall in NAV (I think a small fall is more likely) or any shock bad news that might explain the exceptionally wide NAV discount. If no such shocks PSDL looks a stunning bargain priced buy.”

Posted at 14/3/2023 07:44 by rik shaw
Buy back programme announced:

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