Grit Real Estate Income Group Limited NPV (GR1T)

Sector:

Real Estate

 40.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 53.50p
  • 52 Week Low: 40.50p
  • Currency: UK Pounds
  • Shares Issued: 331.24m
  • Volume: 7,379
  • Market Cap: £134.15m

Grit Real Estate sitting on pipeline of investments across Africa

By Josh White

Date: Friday 25 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Grit Real Estate updated the market on its pipeline of potential investment opportunities with existing tenants and other multinational companies operating across the African continent on Friday.
The London-listed firm said it had concluded commercially binding, but conditional, agreements on a number of target acquisitions, most of which would be regarded as 'category 2' transactions in terms of the Johannesburg Stock Exchange listing requirements.

It said the target acquisitions would facilitate further diversification of the company's portfolio and exposure to high-quality multi-national tenants, underpinned by predominantly dollar and euro-denominated long-term leases.

Grit said the seven target acquisitions across four countries remained subject to various conditions precedent, and as such there was no guarantee that they would ultimately be concluded.

Funding strategies related to the pipeline, and other recently-announced investments, would be communicated in due course, the board said.

"The acquisitions are in line with Grit's strategy of acquiring superior quality assets tenanted by blue-chip multinational companies under long-term, hard currency leases, whilst further enhancing the quality and diversification of the portfolio in terms of tenant, geographic and sector exposures," said chief executive officer Bronwyn Corbett.

"The transactions are accretive and will result in economies of scale by utilising Grit's existing extensive infrastructure across the countries we already operate in, while providing excellent opportunities to strengthen partnerships with key international tenants."

Corbett said they also reflected Grit's evolved business strategy, which now included prefunding of selected risk-mitigated developments, and which was expected to deliver accelerated medium-term net asset value growth.

"The acquisitions are expected to provide investors with further diversified, secure and growing index-linked income and attractive capital growth potential from across Grit's high-quality portfolio, which continues to deliver attractive returns to our shareholders."

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GR1T Market Data

Currency UK Pounds
Share Price 40.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 53.50p
52 Week Low 40.50p
Volume 7,379
Shares Issued 331.24m
Market Cap £134.15m

GR1T Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.39% above the market average90.39% above the market average90.39% above the market average90.39% above the market average90.39% above the market average
75.51% above the sector average75.51% above the sector average75.51% above the sector average75.51% above the sector average75.51% above the sector average
Price Trend
92.64% below the market average92.64% below the market average92.64% below the market average92.64% below the market average92.64% below the market average
96.23% below the sector average96.23% below the sector average96.23% below the sector average96.23% below the sector average96.23% below the sector average
Income
69.44% above the market average69.44% above the market average69.44% above the market average69.44% above the market average69.44% above the market average
74.36% above the sector average74.36% above the sector average74.36% above the sector average74.36% above the sector average74.36% above the sector average
Growth
51.95% above the market average51.95% above the market average51.95% above the market average51.95% above the market average51.95% above the market average
65.38% above the sector average65.38% above the sector average65.38% above the sector average65.38% above the sector average65.38% above the sector average

GR1T Dividends

  Latest Previous
  Interim Interim
Ex-Div 04-Mar-21 05-Mar-20
Paid 09-Apr-21 03-Apr-20
Amount 1.50¢ 5.25¢

Trades for 21-Sep-2021

Time Volume / Share Price
12:32 7,379 @ 40.60p

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