Really interesting webinar from CEO Bronwyn and Darren.
A recording is now available here
hxxps://youtu.be/Vf8pTN8Yk0I
There is also a write up of the webinar available here
hxxps://www.yellowstoneadvisory.com/post/grit-attractive-african-real-estate-exposure |
If you’re free at 1pm today and interested in emerging market real estate stocks please come to the GRIT Real Estate Income Group webinar.
Register: hxxps://us02web.zoom.us/webinar/register/9216123496201/WN_5kvYfweES7CZ_PfchDhIpQ
The company recently released HY results which showed the recovery coming through yet the shares trade at a 40% discount to the 88p NAV/sh. Decide for yourself is this is unjustified. |
GRIT webinar on 17 March at 1pm.
Bronwyn Corbet, CEO and Darren Veenhuis, Chief Strategy Officer will provide an introduction to Grit Real Estate Income Group and present the half year results which will be released on 15 February.
Register: hxxps://us02web.zoom.us/webinar/register/1716123496322/WN_5kvYfweES7CZ_PfchDhIpQ |
A few following the director buy from yesterday by the looks.
That ADVFN chart flatters GR1T somewhat :) |
I have had another think about this and have sold out at a loss. Why?
They are struggling. the divi will be the next thing to go I suspect, because the latest update made no mention of divis.The clients they have are struggling big time. They have breached their own self-declared statement concerning diversification of assets. It all looks a bit muddled to me.I question the strategy of a pan african real estate company serving multinationals. they have about 2 properties in each country they operate in. they will have to tap the market for more funds if they want to expand. I don't really get it, so I'm out with a 5p per share loss . the shares are also super illiquid. |
It looks ggod value to me because as at today
NAV is 465m* USD, MCAP is 230m USD.
Expected divi for 2020 is 8.75 cps and that is the divi AFTER it has been adjusted downwards.
The int has been paid already so the final Dividend is expected to be 'at least' 3.5 cps,payable in november 2020. That's a very good return.
*The assets they own will be impaired, because they have exposure to retail , hospitality and offices but the share price is already bombed out, so my feeling is that it could all be in the price, and some more.
There are now signs of recovery .
Rent collection is holding up fairly well, see rns .
95% of rents are paid in hard currencies.
92% of clients are multinationals, All are tied by lease agreements.
Fair value should be at least the NAV, so around 140 cps.
The share price gives me plenty of margin for error - conclusion? It's worth a punt. |
This company has had a very torrid time since it floated in September 18. The share price is down from 150p to around 80p. During this period the company has traded welland paid very generous dividends. My feeling is that the share price doesn't perhaps reflect the track record or potential of the company .
Why the weakness?
Multiple reasons.
Right now there is the Covid sell off.
The shares are hard to trade. I bought 7735 at 64p ths morning using HL. I had to use a dealer to get the trade away. There are few market makers , HL only settle in GBP and this is a USD quoted stock so that caused an issue because they had to find a market maker who would settle in GBp , Fincap would but I paid a bit extra for that.
The spread is large, I am showing an instant 7% loss on my new holding.
This stock seems overlooked, it didn't even have a thread until today! |
 hxxps://grit.group/
Grit Real Estate Income Group Limited (“Grit” or “the Group”) – Pioneers in African Real Estate
Grit is a leading pan-African real estate company focused on investing in and actively managing a diversified portfolio of assets underpinned by predominantly US$ and Euro denominated long-term leases with high-quality multinational tenants. They do not invest in South Africa.
We aim to deliver strong & sustainable income, with potential for income and capital growth.
The company’s high-quality assets are underpinned by predominantly US$ and Euro denominated long-term leases with a wide range of blue-chip multi-national tenant covenants across a diverse range of robust property sectors.
The Company is committed to delivering strong and sustainable income for shareholders, with the potential for income and capital growth. The Company is targeting 12.0% USD total return.!FOLLOWFEED
hxxps://grit.group/
sept19-GRIT has a portfolio of 25 investments with its current geographical footprint in Mauritius,
Morocco, Mozambique, Zambia, Kenya, Ghana and Botswana in retail, commercial, light
industrial, corporate accommodation and hospitality sectors.
Immediately post the London listing, 50% of shareholders are in Mauritius, 38% from
South Africa and 12% in the United Kingdom. In the 12 subsequent months, the UK register
has recently moved over 19% and should become the predominant liquidity and share
ownership venue post the Group’s intention to seek a premium listing on the LSE. The free
float is 96% |
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
Hot Features
Premium
