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 Shares Traded Last Trade
  -2.80 -0.96% 288.40 1,411,197 16:35:06
Bid Price Offer Price High Price Low Price Open Price
288.60 289.00 291.00 285.20 285.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 222.80 13.13 19.90 14.5 1,943
Last Trade Time Trade Type Trade Size Trade Price Currency
18:02:46 O 121,756 288.40 GBX

Grainger (GRI) Latest News (3)

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Grainger Takeover Rumours

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Date Time Title Posts
15/2/202021:04Home in on the Grainger for profits from bricks & mortar & tenants (GRI)448
22/12/201214:29*** Grainger ***1

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Grainger (GRI) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-07-14 17:29:58288.40121,756351,144.30O
2020-07-14 17:29:47288.402,5757,426.30O
2020-07-14 17:02:56288.401,5714,530.76O
2020-07-14 16:50:09288.801,8475,334.10O
2020-07-14 16:47:41289.0118,46553,365.33O
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Grainger (GRI) Top Chat Posts

Grainger Daily Update: Grainger Plc is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker GRI. The last closing price for Grainger was 291.20p.
Grainger Plc has a 4 week average price of 274p and a 12 week average price of 240.40p.
The 1 year high share price is 341.80p while the 1 year low share price is currently 190p.
There are currently 673,659,551 shares in issue and the average daily traded volume is 1,279,065 shares. The market capitalisation of Grainger Plc is £1,942,834,145.08.
coby4: Looks good at the moment. Share price has certainly languished behind net asset value for many years. But the PRS sector is already drawing more players in, meaning more competition and falling rents to maintain occupancy. Rents are going to be high first time around, next time it’s second hand and after that it’s dated. Time will tell. But they will never again have the pot of gold that was the regulated tenancy portfolio once its gone. More than happy with increased dividends though
dogwalker: Results are due on the 14th Nov. Hopefully we don't have to wait another 2 weeks before the share price starts to improve.
shauney2: Crystal Amber have gone below 3% From citywire UK activist investor Richard Bernstein reduced his holding in the UK’s largest listed residential landlord Grainger (GRI), which recently reported a 39% jump in earnings growth, benefiting from record levels of renting. Bernstein and co-manager Jonathan Marsh reduced their stake to below 3% of the business. The company’s share price is up 19.5% over the last six months. The shares are held in their £214.5 million Crystal Amber fund. Grainger recorded a 13% rise in pre-tax profits in the six months to 31 March to £41.2 million, from £36.6 million year-on-year. In its half-year results, CEO Helen Gordon said the company is expecting to complete a new private rental sector building every two months over the next year and has secured £439 million from a total £850 million target set for 2020. She added: ‘Our strategy to grow rents and simplify and focus the business puts Grainger in a strong position to deliver further sustainable income led growth.’
coby4: Grainger not really in a similar business to British Land or Daejan -although Grainger are diverting into the PRS sector their wholly assets are manly modest properties let to regulated tenants who have been resident since before 1989 when this tenancy type ended. importantly they have security of tenure and the properties are only sold at open market value when vacant - when the tenant has usually passed away or gone into care. the property assets have to be discounted to reflect the fact that if the company had to be liquidated tomorrow the assets could only be sold with the tenants in occupation. saying that though the company has for years had a share price which doesn't match even its true "discounted" value. good to see the recent rise though and will hopefully step up again when the world knows what the heck Trump is doing!
strathroyal: New policy appears to make a lot of sense. The equity release division was presumably making little profit after finance and admin charges so that the return was not acceptable. Hopefully the share price will pick up with the revised dividend policy and also the activist interest from Crystal Amber but I'm certainly happy with today's results and presentation.
shauney2: Share price looking very firm. An interesting take on Grainger from activist investors Crystal Amber who hold a 3.45 stake. "Grainger was established in 1912 and is the UK's largest listed residential property owner and manager. Its traditional reversionary business is based predominantly on regulated tenancies, which provide substantial, high quality, predictable and resilient cash flows. Its portfolio of 7,400 reversionary assets has a carrying value of GBP1.5 billion. Properties revert vacant to Grainger after an average of ten years. As these properties become vacant, Grainger estimates that they will generate a surplus of GBP500 million, equivalent to 120p a share. This embedded value is the difference between today's market value compared to the vacant possession value at today's prices. It does not reflect any future benefit from house price inflation. This portfolio is expected to generate GBP120 million of gross cash each year until 2030. Grainger also owns 8,400 properties as part of its market rented portfolio valued in excess of GBP1.1 billion. The cash generated by the reversionary business is recycled into Private Rented Sector (PRS) residential developments. Grainger is the UK market leader in equity release schemes principally for retired home owners. It also owns 3,000 homes directly and 3,000 homes indirectly via a joint venture in Germany. Trading results for the six months to 31 March showed a 3.8 per cent advance in the value of its UK residential assets, compared to 1.9 per cent for the Halifax and Nationwide indices. Grainger acquired or exchanged contracts for GBP 87 million of properties to add to its reversionary portfolio; purchased a new build to rent scheme in Canning Town, London; achieved planning consent for build to rent projects at two further sites; and completed another scheme in Barking, which is now fully let. The company expects to complete around 1,070 market rented units over the next two years. We believe that Grainger's portfolio, providing visibility of cash realisations through to 2030, represents an attractive asset for an insurance company seeking to match this asset profile against long- term future liabilities. Despite a recent reduction in the average cost of debt from 5.1 per cent to 4.6 per cent on Grainger's GBP1.1 billion of debt, we believe that in the current interest rate environment, there remains further scope to secure better terms for shareholders. We also believe that annual administrative expenses of GBP35 million are excessive. This equates to an administrative expense ratio of 3 per cent on GBP1.2 billion of net assets, which is substantially higher than its peer group. Since first investing in June 2015, we have engaged with the chairman, the outgoing executive team and other senior participants in the property sector. We believe that our comments about the need to reduce both operating and finance costs together with a tighter, more focused strategic direction have been well received. In August 2015, the company announced that it would explore the disposal of its German assets. The Fund regards this as a helpful first step to refocus and simplify the company's structure. The company also confirmed that the new CEO would arrive earlier than previously announced and that the Finance Director would retire" The German assets were previously valued at £300 million.That could have grown since.
coby4: article doesn't actually understand what a regulated tenancy is by the sounds of it - you don't "allow" a regulated tenant to pay under market rent - the rents and the increases allowed are set by the local Rent Officer - you don't get a choice. they will be below market rents for the duration of the tenancy - they don't normally leave unless they die and there are some circumstances where the tenancy can be passed on - hence the discount to open market value of the property which can only be realised when sold when its vacant - so no matter who might buy the company they still couldn't cash in on that reversionary surplus. the other half of the assets are from equity release schemes. puchased at an even bigger discount because there is no rent payable and the occupant has the right to stay until they die. cant cash the reversionary value in there either a lot of good news around with this company and no real reason its share price should lag so far behind its value good to see some refinancing and look forward to a better dividend!
hyperboreus: Agree with you there u813061, weekend press comments fuelling the rise this morning no doubt: Private equity outfits eyeing potential bid for Grainger, report says By Alexander Bueso Date: Sunday 16 Aug 2015 The pressure on the management team at Grainger to increase its payout to shareholders is growing as private equity groups run the rule over the outfit in preparation for a possible bid. According to The Sunday Times private equity outfits are studying both a possible full-scale takeover or piecemeal asset sales. The report came amid recent strong trading for the £1bn residential property landlord which specialises in regulated tenancies, purchasing properties at a discount while allowing their owners to live in them their entire lives at sub-market rents. On 13 August the firm, which is listed on London's second tier index, said that in the ten months ending on 31 July rental increases had averaged 6.0% on a like-for-like basis on new lets and 2.3% on renewals, compared with 4.2% and 3.2% in July 2014. The company, which is carrying nearly a £1bn in net debt on its balance sheet, recently refinanced its debts. Together with its investments in market rented assets, financed from its reversionary assets, and a simplified structure, that would allow the outfit to be able to improve its profitability, and boost its payout, analysts at Numis said in a research report e-mailed to clients that same day. "It would enable Grainger to improve distributions to shareholders, which in turn should help the share price close the discount to net asset value." The Newcastle upon Tyne headquartered firm also disclosed it had named investment bank Lazard & Co in Frankfurt to advise on the disposal of its wholly-owned residential property assets in Germany, which it described as "non-core". Grainger also accelerated its plans to renew its top ranks. Helen Gordon was now set to join the company as CEO designate by 1 December, earlier than previously stated. In parallel, it was announced that Mark Greenwood would retire as finance director at the end of December 2015. Year-to-date shares of Grainger were sporting a rise of 30% as of the close of trading on 14 August, versus a gain of 9.5% for the FTSE 250.
u813061: Nice breakout to 5 year high. This is a one way bet as share price is close to reported net asset value yet there is plenty of opportunity to be unlocked as activist funds are already putting plans in place.
coby4: Just goes to show they don't actually understand what the portfolio is comprised of. The reversionary element they want to get their hands on is there because the majority of the properties are occupied by protected tenants with security of tenure, Without vacant possession that can't be taken advantage of. Share price is lower than it should be though. I doubt they are going to lose too much sleep over a 3% stake. There are investors with much higher stakes
Grainger share price data is direct from the London Stock Exchange
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