Share Name Share Symbol Market Type Share ISIN Share Description
Grainger Plc LSE:GRI London Ordinary Share GB00B04V1276 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -15.20 -4.88% 296.40 297.20 297.60 307.00 294.80 306.00 6,350,719 16:35:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 270.7 100.7 21.0 14.1 1,998

Grainger Share Discussion Threads

Showing 251 to 274 of 475 messages
Chat Pages: 19  18  17  16  15  14  13  12  11  10  9  8  Older
DateSubjectAuthorDiscuss
09/9/2010
16:23
Seems to be building up a head of steam.
chadders
08/9/2010
08:14
Decent update from Berkeley (BKG) today which could help GRI going forward.
chadders
11/8/2010
13:14
Any viewson on these results today?  11 August 2010 Grainger plc Interim Management Statement Grainger plc ("Grainger", the "Company" or the "Group"), the UK's largest quoted residential property owner today presents its interim management statement covering its activities during the four month period to 31 July 2010. Highlights · A further £49.4m of residential sales completed, taking total sales in the ten months to 31 July to £128.4m. In addition a further £26.4m of sales are in solicitors' hands or have contracts exchanged, giving a total sales pipeline of £154.8m. · Re-entry into residential acquisition market with £67.6m in our acquisitions pipeline. · Acquisition of Sovereign Reversions plc ('Sovereign') completed. The Company is in ongoing discussions with Moorfield regarding the creation of a new joint venture which would own the Sovereign portfolio. Commenting on the results to the end of July, Andrew Cunningham, Chief Executive of Grainger said: "We continue to make strong progress in growing and strengthening the Company and its market leading position. Our portfolio is continuing to prove to be resilient and we are trading well, despite price growth in the general housing market slowing in the last few months reflecting the economic uncertainty. Furthermore we have also taken advantage of market conditions to make well-priced acquisitions which we anticipate will produce good levels of return for our investors in the future." Market Review As we predicted at the time of our interim results in May, house price growth in the residential market has slowed over the early summer months. Nevertheless, our portfolio is resilient and we continue to sell well. We recognise the fragility of the market and are reflecting that by acquiring assets that we believe will deliver good levels of long term returns to the Company. Consequently, we are focussing on residential acquisitions which display some or all of the following characteristics: - good prospects of long term capital appreciation - high levels of reversionary potential - development or refurbishment potential - produce attractive yields Residential Trading Together with sales in solicitors' hands or with contracts exchanged, our total sales pipeline to the end of July 2010 amounts to £154.8m: · In the ten month period to 31 July 2010 we sold 593 vacant units for a consideration of £90.1m at a sales margin of 42.6%. The equivalent figures to the end of July 2009 were 625 units for £86m at a margin of 35.5%. The improvement in margins reflects the overall increase in prices we have achieved. These sales have been made at values approximately 6.9% above our September 2009 vacant possession values, a period in which the average of the Halifax and Nationwide indices has increased by 3%. · In addition to these sales of vacant units we have also made investment sales (sales with a tenant in place) of £7.3m and one-off sales, primarily of agricultural property, of £31.0m at values 14.3% above last September's valuations. The total sales pipeline of £154.8m to the end of July 2010 is lower than last year's equivalent figure of £180m as we have taken the strategic decision to reduce significantly our investment sales programme in the second half of the year. We have increased the number of properties which we refurbish prior to sale and estimate that this activity has produced incremental profit of c £1.4m. This strong sales performance reflects the ongoing resilience of our trading portfolios, even in uncertain economic conditions. We continue to see good acquisition opportunities and by the end of July we had completed, exchanged or placed in solicitors' hands some £67.6m of residential property acquisitions. Home Reversion In addition to the purchases noted above, we have now completed the acquisition of Sovereign Reversions plc for a consideration of £34.6m (at £2.02 per share, compared to a Sovereign Board net asset value estimate at 31 October 2009 of £2.517 per share). An independent valuation of the market value of Sovereign's property portfolio at 30 April 2010 amounted to £69.3m. As previously announced, Grainger is in discussions with Moorfield, a UK-based real estate investor and fund manager, with a view to establishing a joint venture between Grainger and Moorfield Real Estate Fund II such that Moorfield would become a funding partner in respect of the Sovereign acquisition. We anticipate updating the market on the outcome of these discussions shortly. Fund management and investments The portfolio in G:res 1, the market rented fund under our management, was valued at 30 June 2010 and showed an increase in vacant possession values of 3.8% since December 2009. Net asset value per share has improved from 64p to 67p, an increase of 4.7%. In light of growing investor interest in the market rented sector, we are currently investigating options to increase the size of the fund. The controlled liquidation of the Schroders Residential Property Unit Trust nears completion with only £0.1m of assets remaining to be sold. Development Division Activity in this division remains focussed on progressing the planning on various schemes, in particular our site at Newlands near West Waterlooville in Hampshire. Sales activity has been largely restricted to our site at Hornsey Road in North London where we have now successfully completed all the sales from the second phase, selling 33 units for £9.2m. We have also sold two further units which were previously let for £0.5m. Germany Unlike the UK where our activities are focussed more towards trading, our German business is primarily rental based, which complements the Groups' varied return profiles. Gross rents to end July amounted to £25.4m, representing a yield of 6.8%, on valuation. Debt At 31 July 2010, Group net debt was £1,303m (31 March 2010: £1,308m) and committed undrawn facilities and cash amounted to £285m (31 March 2010: £300m). The estimated loan to value on our core lending syndicate (based on September 2009 asset values) amounted to 54.4%. Outlook Although the level of general house price growth we saw in late 2009 and early 2010 has begun to slow, our portfolio continues to perform well. This is due to its low average value per property, its geographic diversity and the unrefurbished condition of many of the units we sell which provide attractive development opportunities for a potential purchaser. We continue to identify attractive acquisition opportunities and our financial capacity and management expertise will enable us to take advantage of those that we believe will deliver long term shareholder value. For further information: Grainger plc Financial Dynamics Andrew Cunningham/Dave Butler Stephanie Highett/Dido Laurimore Tel: +44 (0) 20 7795 4700 Tel: +44 (0) 20 7831 3113 This information is provided by RNS The company news service from the London Stock Exchange END IMSPMMFTMBTBBJM
bb123
27/7/2010
10:41
Decent buy volume today, maybe time to kick on.
chadders
24/6/2010
16:56
I suspect today's 5% rise came about as a result of the Daily Telegraph's "Questor" Buy recommendation today:- "Questor tipped Grainger. Britain's largest quoted residential property landlord, exactly two months ago. Since then, the shares have endured a poor run, falling 21pc amid concerns for the property market as the economy stalls and the prospect of an austerity Budget, including a rise in capital gains tax (CGT), draws closer. Clearly, the fall is disappointing, but Questor believes Grainger looks cheap and offers value for investors even on modest forecasts for the housing market. This column is sceptical about the prospects for many property stocks, but Grainger offers a solid investment in the long-term fundamentals of UK housing rather than an over-leveraged gamble on rising asset prices. Grainger's business is primarily to buy homes worth around £190,000 and let them at levels below market value. It then aims to sell the property on for a higher value once the tenant moves out, or dies, or the asset has been refurbished. This model offers exposure to house price inflation and a market where the supply of homes struggles to meet demand. In addition, it offers this without the heavy capital demands and fragility of building new houses. Despite this, Grainger is trading at a 35pc discount to its net asset value per share of 173p, a key measure for property companies. This NAV was stated for the six months to March 31, and did not take into account a revaluation of Grainger's portfolio during that time. Analysts at KBC Peel Hunt have forecast NAV will reach 198p for Grainger, which is closing in on a £35m deal to buy rival Sovereign Reversions, by September 30, and described the shares as a "serious bargain". Property stocks have come under pressure since the formation of the Coalition. The proposed "localism" of planning rules and freezing of state aid for new housing projects have sparked worry about construction. But the mature housing markets Grainger operates in are shielded from the worst of these, and it has even said it could benefit if the Chancellor announces changes in CGT by picking up properties on the cheap. The housing market may be volatile in the short term, but Grainger still looks affordable. Buy."
sandbank
24/6/2010
10:13
Big increase in volume so far today and I reckon those 2 x 1million trades are buys and not sells as reported. Could be interesting times ahead. DYOR etc.
chadders
23/6/2010
12:25
I think that's Norges Bank increasing their position. Anyone have up to date info on major shareholders?
chadders
17/6/2010
10:11
Any views on Grainger. I noticed they have had a profitable resale of reversionary properties and the the shares trade 42 per cent below year-end NAV estimates. The total sales pipeline, including units in solicitor's hands, stands at an impressive £121m.
bb123
02/6/2010
15:41
http://www.advfn.com/p.php?pid=nmona&article=43064746&symbol=L%5ELLOY
chadders
20/5/2010
17:18
I guess at its essence, this is a play on residental property values in that regardless of the income stream the NAV of the portfolio will drive the share price. I personally believe that residental property will decline in value by around 30% over the next 5-7 years in real terms.(Yes, I am a home owner!) If you belive that values are going to rise then you are on a winner. I have gone into commercial property as values there have dropped about 40% from their highs of a couple of years ago while residential has only dropped about 15%.
salpara111
20/5/2010
07:09
Sales up, profits up, margins increased, healthy sales pipeline, restored the dividend. Not bad for starters.
chadders
27/4/2010
15:12
Plenty of buys going through, I guess by the number of posts, none from advfn users!
ny boy
27/4/2010
12:18
Thought there would be more savvy investors about looking at this one?
ny boy
26/4/2010
12:41
rns out 3 new board members, excellent stuff! Commenting, Andrew Cunningham, Chief Executive, said; "We are very pleased to be welcoming people of such strong calibre to the Grainger Board. These are proven, experienced individuals who will provide a great combination of residential, financial and operational expertise to the Company." Robin Broadhurst, Chairman, said; "Grainger's recent refinancing and successful rights issue has put the Group in a strong position to take advantage of the opportunities that will arise as we emerge from recession. We have a unique portfolio of properties, considerable financial strength and an outstanding team already in place. I am confident that this new management and leadership team, working with Andrew, will continue to drive the business forward."
ny boy
26/4/2010
12:11
Weak Positive Candidate -Medium term, Apr 19, 2010 Analysis Explanation GRAINGER PLC is within an approximate horizontal trend, which indicates further development in the same direction. The stock has marginally broken up through the resistance at pence 138. An established break predicts a further rise. The stock is assessed as technically slightly positive for the medium long term Resistance is at 180p, looks like that's the short term (next few months) price target.
ny boy
26/4/2010
10:16
Ticking up again, surprised not many have twigged here! "1" trade could well be a buy signal?
ny boy
23/4/2010
12:02
Nice to see a gradual tick up, should move above 200p this year, locked in here for a long term hold to play the UK recovery story
ny boy
22/4/2010
20:55
Tipped last week.... Grainger is the largest listed residential property landlord in Britain. The Independent on Wednesday wrote that it is confident Grainger's management can continue to make progress and had suggested the company a hold at 145p last year. With Merrill Lynch describing companies net asset value of 145p as a "trough". Grainger is beginning to look like something of a bargain says the Independent who recommend buy. Meanwhile, the Daily Telegraph commented of Grainger that the company is not exposed to fragile new-build markets and is sheltered from the worst effects of a slump in the market because of its focus of buying low-value homes in need of modernization. Company has a strong liquidity through to 2012 and only a 35% drop in house prices would breach the present covenants, writes The Daily Telegraph who remind that the shares are undervalued by 30% according to JP Morgan. Buy says the Daily Telegraph.
ny boy
22/4/2010
15:08
http://www.nebusiness.co.uk/business-news/latest-business-news/2010/04/21/takeover-hopes-at-property-giant-grainger-51140-26283283/
knowing
22/4/2010
15:01
that's the fellah
wolterix
22/4/2010
14:59
The council's development partner, Grainger/Helical Bar has set up a special company, called King Street Developments (Hammersmith) Ltd, and has spent the past few months preparing the essential technical details that will make the project a reality. The company's timetable includes submitting a planning application in 2010 and completing the project by 2016.
ny boy
22/4/2010
14:56
Will check it out, just noticed they have an rns out for their results next month, I expect plenty of interest here.
ny boy
22/4/2010
14:45
they will be submitting a planning app for Hammersmith Town Hall over the next month or so, I would think?
wolterix
22/4/2010
14:34
Looks very appealing going forward, already in recovery mode. Must have in my portfolio!
ny boy
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