Grainger Share Discussion Threads

[cerrito] 07/8/2013 08:36

scburbs:where do you get your 219p NAV referenced in your 296from?
As someone who sold out a lot far too early at 120p I have not read this too well but will keep with what I have but will not be buying more.
As you say good news today

[scburbs] 07/8/2013 08:00

The lower one ignores the sales altogether (i.e. ignores the massive reversionary value).

The Grainger NAV includes the reversionary value and the tax thereon. There is a gross NAV which ignores some tax, but I think the Grainger NAV is the most useful (albeit I would perhaps ignore the swap as it will unwind against future profits so actual NAV could be 10-15% higher).

P40 shows the 3 NAVs which they quote.

hxxp://www.graingerplc.co.uk/~/media/Files/G/Grainger-Plc/pdf/hy-results-announcement-pres-2013.pdf

[trytotakeiteasy] 07/8/2013 07:52

doesn't the group have two net asset values with one much lower based on paying taxes on its sales..

[scburbs] 07/8/2013 07:04

Vacant possession sales at 6.7% above September 2012 values. New let rents growing at 5%. Debt reduced to 50% LTV. Strong outlook statement indicating further increases in asset value expected.

Why does this trade below the Grainger NAV of 219p (which will now be materially higher)? This IMS would appear to support a push toward £2 at least.

[scburbs] 05/7/2013 12:48

"Grainger's plans for a 3,850-home scheme on the 630-acre former Aldershot Garrison in Hampshire have been approved.

...

The development is due to start in 2014, with the first phase comprising 228 homes."

hxxp://www.egi.co.uk/news/article.aspx?id=769349

[scburbs] 26/6/2013 15:16

Should be good news for Grainger (especially the CPI +1%) and their new social housing subsidiary.

"SPENDING REVIEW: Chancellor George Osborne confirmed he will provide £3bn of capital investment in affordable housing in the Spending Review.

He confirmed that affordable rents will increase CPI+1% from 2015-16 for ten years, providing clarity for housing associations."

hxxp://www.egi.co.uk/news/article.aspx?id=768876

[scburbs] 28/5/2013 15:39

"Grainger has appointed Kier to deliver repairs and maintenance work across its UK private rented portfolio.

The £50m contract, which spans ten years, is due to start on 1 September.

...

Peter Couch, chief operating officer of Grainger, said: "This contract will help us ensure work is done to a high standard in a timely manner for our tenants, while delivering a significant cost reduction for Grainger.""

http://www.egi.co.uk/news/767448.nw

[coolen] 20/2/2013 20:41

Ticking all the right boxes at the moment......and don't forget the "almost" bid approach:

[coby4] 19/2/2013 18:25

Grainger featuring in a lot of articles at the moment and the share price heading the right way finally

[cerrito] 11/1/2013 20:04

Wondering what to do with my shares following the recent increase but having looked rather belatedly at last year's results will stain for the ride
I have also listened to the analyst's presentation which is on the website; would reccomend it as the management gave a very clear explanation of what they are up to and where they are going.

[northernlass] 30/8/2012 15:56

THE BROKERS SAY "BUY"

09 August 2012

Numis reiterates its BUY recommendation for Grainger, with a target price of 161p.

Investec reiterates its BUY recommendation for Grainger, with a target price of 160p.

23 August 2012

Jefferies International reiterates its BUY recommendation for Grainger, and has a target price of 128p.



P.S.
Here's some links about SCLP, one of the hottest stocks at the moment:

[panachegrp] 10/8/2012 07:51

would be nice to see this back to the 100-118 range by Christmas

[cerrito] 09/8/2012 11:10

agree and share price increase justified

[panachegrp] 09/8/2012 06:46

solid IMS today

[coby4] 18/6/2012 14:33

uncertainty, Greece, Spaim, euro. The net value of the bricks and mortar make this look very cheap

[panachegrp] 18/6/2012 14:12

someone tell me why this is dropping like a stone ! An announcement would be nice 'we know of no reason why...'

[naked trader] 17/5/2012 06:58

Some good results here today. Large discount to NAV but with market sentiment I doubt we will see much of an improvement in the share price over the coming weeks although when property prices do start to significantly rise this will follow quickly.

[cerrito] 26/4/2012 16:51

Naked Trader, I have no idea why the price has weakened, have you?

[naked trader] 26/4/2012 14:59

Testing support at a quid!

[panachegrp] 24/2/2012 10:00

Breakout??!

[cerrito] 07/2/2012 18:53

appreciate feedback for anyone who can make the AGM tomorrow

[romi2nikki1] 03/2/2012 14:18

From the FT 03.02.12.
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [e-mail] to buy additional rights.


Companies offering controversial sale and rent back schemes that target financially distressed homeowners have been ordered to close temporarily following a review that found widespread poor practice.

The Financial Services Authority (FSA) report, published on Friday, found that most sale and rent back transactions were either unaffordable or unsuitable and "never should have been sold".

I am assuming that Grainger, would never engage in such practices.

[panachegrp] 07/12/2011 09:27

Interesting...might be worth filling our pockets !

U.K. REIT Law Changes May Trigger Takeovers From Overseas (1)
2011-12-06 17:02:01.704 GMT


(Updates with tax experts' reactions starting in sixth
paragraph.)

By Simon Packard
Dec. 6 (Bloomberg) -- U.K. real estate investment trusts will be more vulnerable to takeover by investors from outside of Britain under rules proposed today for the tax-exempt companies.
The changes "will allow more cross-border M&A activity,"
said Phil Nicklin, head of accounting firm Deloitte LLP's unit specializing in REITs. "Investment banks are already talking to me about this."
The U.K. Treasury proposed the draft law today that would allow British units of overseas companies to qualify for REIT tax exemptions by loosening regulations on ownership and stock- exchange listings. The rules would also abolish a charge to become a REIT equal to 2 percent of a company's net asset value.
U.K. properties or companies would be eligible for REIT status if their owners' shares trade on overseas exchanges as well as the Alternative Investment Market and the exchange in London run by Plus Markets Group Plc, the Treasury said today.
The rules would adjust the criteria for qualifying as a REIT and change the rules on how and when taxes are collected.
"The changes will make REITs more cost-effective and easier to operate," said Rosalind Rowe, a partner at PricewaterhouseCoopers LLP. The changes may also "open up the market to a new group of investors, potentially including pension schemes and insurance companies."

New REITs

As many as 40 new REITs will be spawned by the modifications announced today, Nicklin estimated. The U.K.
currently has 23 with a market value of about 20 billion pounds.
Most new REITs would be conversions of funds now based in low-tax offshore jurisdictions such as Jersey, said Mike Prew, a Jefferies & Co. analyst. The funds would seek REIT status to avoid additional costs created by a European Union directive that will tighten regulation and supervision, he said.
REITs in the U.K. avoid corporation or capital gains taxes in return for paying investors 90 percent of the income generated by their property. The changes proposed, the most sweeping to rules first introduced in 2007, will likely be adopted when lawmakers vote on the next fiscal year budget by the second quarter of 2012.

New Rules

The new rules may help the creation of residential REITs as the government seeks to attract investment into private rented accommodation, said Marion Cane, an executive director at Ernst & Young LLP's tax advisory arm for real estate, hospitality and construction. No U.K. residential REITs currently exist.
In March, the government lowered the tax cost of acquiring groups of properties by changing the way it calculates the stamp duty, which is a property-transfer tax.
That change, combined with the rules being proposed today, "will help residential REITs, particularly as they build up a portfolio," Ernst & Young's Cane said.
London & Stamford Property Plc, a REIT that owns a stake in one of the U.K.'s largest malls, said last month that it may set up a separate residential REIT as it acquires housing assets.
Helical Bar Plc, which isn't a REIT, may consider creating one for the residential properties that it's developing, Chief Executive Officer Mike Slade said in an interview.
"Further changes are still needed to encourage residential and social housing REITs," said Nicklin at Deloitte. They need to be able to trade real estate, which is something that current rules preclude, he said.
The rules wouldn't allow for the creation of private REITs, according to the Treasury. Closely held real estate companies can qualify for the tax exemptions if they seek to sell shares on a London exchange within three years.
Current rules require REITs to have 25 percent of their shares widely held by investors. Pension funds, insurance companies, sovereign-wealth funds and mutual funds will be exempted from the rule, the Treasury said today. Charities, banks and REITs domiciled outside the U.K. wouldn't qualify for the exemption.
The Treasury has asked for responses to the proposals by Feb. 12.