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
  +0.40p +0.15% 265.40p 264.00p 266.80p 265.40p 265.40p 265.40p 6,911 08:11:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 270.7 100.7 21.0 12.6 1,625

Grainger Share Discussion Threads

Showing 151 to 175 of 450 messages
Chat Pages: 18  17  16  15  14  13  12  11  10  9  8  7  Older
DateSubjectAuthorDiscuss
11/1/2009
22:17
Its showing alot of weakness recently. Dont know whats going on. Perhaps its a basket case.
kab6
02/1/2009
16:59
Do the reverse then as the last I heard was that he had his fingers well and truly burnt sticking his neck out too often! Dimwit.
jdschwartz
02/1/2009
11:21
Evil is tipping this as a short for 09.
davebowler
31/12/2008
16:11
With returns from cash now pants, I look forward to excellent stockmarket returns over the next 12 months. Happy new year all.
jdschwartz
23/12/2008
11:26
problem is that as they are in a niche they get clobbered any time there is some bad news in any part of the sector, be interesting to see how the new year starts
coby4
23/12/2008
10:52
j I think you could call doubling in price already a very good run up, it's just that it fell such a long way previously. Still think it may get into trouble at some stage but perhaps not soon.
alexx
23/12/2008
10:12
Technically the down trend should be broken when this tests £2 mark so the probability is that this could have another good run up.
jdschwartz
20/12/2008
11:08
and another 150,000 directors purchase
coby4
18/12/2008
21:29
I agree 100% with you coby4. I know a bit about property and as rates get lower(including the libor which is ticking down nicely day by day), the rental yields get better. Borrowing is part of the business as it offsets taxation. The important figure is the L2V. Which is 60 something % I recall. But valuation in the short term is only really important for remortgaging purposes and not for capital gain/resale as that is not where the main income is coming from here. Over the next year there will be some great bargains to be had also and Grainger is well placed to mop them up at a huge discount to market price to benefit from pound cost averaging like the best investment. The next technical test is £2.
jdschwartz
18/12/2008
11:40
as jdschwartz says the balance sheet isnt entirely straighforward. the vast majority of the portfolio is tenanted and tenanted by generally elderly people. therefore whilst the value of the tenanted assett is strongly discounted there is a big potential profit when the tenant dies and its sold empty. the company is meeting its covenants and will hopefully be able to take advantage of lower interest rates. their prelim says acquisitions have been drastically curtailed and running costs reduced. in these difficult times i think the fact they secured an addition £228m of funding is a good sign. 2009 will undoubtedly be difficult but consensus seems to be that house prices will stabilze towards the end of the year and increases be seen in 2010. if the banks are getting there return theres no chance of pulling the plug
coby4
17/12/2008
22:04
Market capitalisation £154 million, debts £1.6 billion which are probably not covered by their assets in the current dire market. Nothing complicated about that is there? There are certainly people who will buy thinking that this has a great dividend. They are wrong in my opinion, the danger is that the banks will pull the plug and sell everything off for whatever they can get. But that is probably not imminent so there might be a dividend or two yet. Sooner or later the Board will decide they had better start paying off debt instead of paying dividends.
kibes
16/12/2008
16:29
That's assuming the dividend yield isn't cut? You could have used that argument with RBS when they were yielding 13% 4 months ago, but not so now. Jock
jockthescot
16/12/2008
15:55
I wouldn't short GRI at this price mate. They are not a typical property co. Interpretting a GRI balance sheet is non-standard. It is complicated. This is now worth buying on dividend yield alone as you can now borrow cheaper than the dividend yield following the most recent rate cuts.
jdschwartz
15/12/2008
16:35
cos all the bad news has been overpriced in for some time now
coby4
11/12/2008
16:10
why does price keep ticking up? i have a short on this but has spike recently. is it just before co goes ex-div?
rd1881
11/12/2008
11:49
dividend yield anyone?
jdschwartz
04/12/2008
18:18
kiwihope - I agree the issue is mainly about whether they will meet their covenants. From the final results the covenant details are as follows: 'Covenants Our core facility has two covenants covering loan to value ("LTV") ratio and interest cover. Under the first, a LTV of 80% could lead to default of the agreement. At 70% LTV, purchasing restrictions apply. To a large extent the business is currently operating under the restrictions by cutting back on new acquisitions. LTV on the core facility at 30 September was 66% although this was reduced to 64% shortly after the year end by the early conversion of 78% of our convertible bond. We are able to take action to help keep the LTV ratio down, the main one being asset sales. We estimate that if we are able to maintain sales proceeds in 2009 at the same level as achieved in 2008 then UK asset values as used for covenant purposes will have to fall by c.24% in the year ended 30 September 2009 for us to reach 80% LTV. Under the second covenant, our interest cost must be covered 1.25 times by net cashflow before interest. As at 30 September the ratio stood at 2.2 times (2007: 2.8 times). This covenant is calculated by reference to the previous 12 months results and, given the cash inflows that we have already achieved to date, we are very confident that this covenant will be met at the next testing period in March 2009.' So according to the first covenant, they are in default if loan to value reaches 80%. They are currently at 64%. This looks rather uncomfortably close to me given the way property values are falling. I don't share their confidence about asset sales in 2009. On the second covenant they look to have plenty of headroom (interest cover 2.2 versus a requirement of 1.25).
kibes
04/12/2008
13:58
Keeping an eye on this one as a possible buy. I agree they have large debt and I need to look at that further. But providing they can meet their covenants I can't see the banks pulling support. In fact, are they allowed to? I need to see what the outer is - obviously a rise in property values would help but that may be some way off. There are lots of 'distressed' property companies about now - not ALL of them will go bust. As for debts being larger than assets meaning a company is insolvent - that's rubbish. There are many listed companies with negative book value. Solvency means a comapany is able to meet its liabilities AS THEY FALL DUE. Provided Grainger meet their covenants they are plainly solvent.
kiwihope
04/12/2008
09:53
Took my own advice and got out yesterday, looking like a good thing at the moment. Still short MJW & PDX. Need another short now.
alexx
03/12/2008
21:10
and plans to defer interest payments for up to 2 years, take some of the excess supply out of the market - could be good
coby4
03/12/2008
17:05
end year figures released with trading update for activity in last couple of months, dont imagine there will be any news from them for a while. rate cut tomorrow, maybe halifax report for november will confirm nationwide's of slow in price drops?
coby4
03/12/2008
11:20
Still have my short open but don't feel very enthusiastic about it. The problem is that I can't see bad news appearing in the short or even medium term. The falling asset value, or the possibly inflated? book asset value, may be a key weakness but when will any news about it actually cause a problem to the share price?
alexx
02/12/2008
17:55
that's the kind of purchase that shows some faith. Broadhursts was a buy as well by the way
coby4
02/12/2008
13:10
and now 250000 buy by Henry Pitman http://www.advfn.com/p.php?pid=nmona&cb=1228223284&article=29622930&symbol=L^GRI
alexx
02/12/2008
10:16
17000 sell yesterday by Robin Broadhurst http://www.advfn.com/p.php?pid=nmona&cb=1228212810&article=29608474&symbol=L^GRI
alexx
Chat Pages: 18  17  16  15  14  13  12  11  10  9  8  7  Older
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