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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Grainger PLC    GRI   GB00B04V1276

GRAINGER PLC (GRI)
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Grainger : acquires a 192-home stabilised PRS portfolio in Manchester for £26m

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11/24/2017 | 11:02am CEST

24 November 2017

Grainger acquires a 192-home stabilised PRS portfolio in Manchester for £26m

Grainger, the UK's largest listed residential landlord, today announces that it has acquired a stabilised portfolio of three blocks, in Manchester, comprising 192 private rented sector (PRS) homes, for £26m. The portfolio has been acquired from Cabot Square Capital.

Grainger expects the investment to generate a gross yield on cost of approaching 7%.

Manchester is a key city for Grainger's PRS investment strategy due to its strong economic prospects and growth potential. The investment will also benefit from Grainger's existing local management platform.

Helen Gordon, Chief Executive of Grainger, said:

'We are pleased today to announce our latest investment in one of our key target locations, Manchester, which delivers 192 high quality rental homes, building on our existing portfolio in and around the area, leveraging off our operational platform and local management office.'

-ENDS-

Grainger plc published this content on 24 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 November 2017 10:01:04 UTC.

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Financials (GBP)
Sales 2018 46,4 M
EBIT 2018 105 M
Net income 2018 90,5 M
Debt 2018 916 M
Yield 2018 1,91%
P/E ratio 2018 12,89
P/E ratio 2019 13,21
EV / Sales 2018 44,2x
EV / Sales 2019 40,5x
Capitalization 1 137 M
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Technical analysis trends GRAINGER PLC
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TrendsBearishBearishNeutral
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 3,39  GBP
Spread / Average Target 22%
EPS Revisions
Managers
NameTitle
Helen Christine Gordon Chief Executive Officer & Executive Director
Mark Sydney Clare Non-Executive Chairman
John Kenny Chief Operating Officer
Vanessa Kate Simms Chief Financial Officer & Executive Director
Anthony Paul Wray Independent Non-Executive Director
Sector and Competitors
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