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MarketScreener Homepage  >  Equities  >  Irish Stock Exchange  >  Green REIT    GN1   IE00BBR67J55

GREEN REIT

(GN1)
  Report  
Delayed Quote. Delayed Irish Stock Exchange - 07/23 08:15:29 am
1.822 EUR   -0.44%
07/22GREEN REIT : Form 8.3 -
AQ
07/16GREEN REIT : Form 8.3 -
AQ
07/12GREEN REIT : Plans for Block N at Central Park Unveiled
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Ireland's Green REIT real estate fund puts self up for sale

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04/15/2019 | 03:32am EDT

DUBLIN (Reuters) - Ireland's first real estate investment trust, Green REIT, which has property assets of 1.5 billion euros (£1.3 billion), is putting itself up for sale in a bid to "maximise value for shareholders".

The firm, which listed on the Irish stock market in 2013 and focuses on commercial property in the Dublin area, said on Monday the sale process would begin immediately with J.P. Morgan Cazenove as lead financial adviser.

"The company's share price has been subject to a material and persistent structural discount to its net asset value per share for over three years now," Chairman Gary Kennedy said in a statement.

"Following detailed analysis and due consideration, we have decided to focus on the sale of the company or its portfolio of assets."

Green REIT's shares on Monday opened up 5.6 percent at 1.62 euros compared to a net asset value per share of 1.83 euros stated in its year-end accounts.

The company was the first of a wave of real estate investment trusts set up as Ireland's property market began to recover after one of Europe's deepest real estate crashes.

Investec analyst Philip O'Sullivan said both Green REIT and rival Hibernia REIT, had been trading at an "anomalous" discount to book value given Dublin's booming commercial real estate market.

"We have no doubt that there will be ample interest in Green REIT given both the quality of its assets and the strong fundamentals of the Dublin office and logistics markets," O'Sullivan said.

Green REIT's portfolio is 83 percent offices in the Dublin area. Tenants in its buildings include Barclays and Allied Irish Banks.

(Reporting by Conor Humphries; editing by John Stonestreet and Emelia Sithole-Matarise)

Stocks mentioned in the article
ChangeLast1st jan.
GREEN REIT -0.44% 1.822 Delayed Quote.35.56%
HIBERNIA REIT 0.52% 1.536 Delayed Quote.21.41%
VALUE8 0.71% 5.7 Delayed Quote.19.41%
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Latest news on GREEN REIT
07/22GREEN REIT : Form 8.3 -
AQ
07/16GREEN REIT : Form 8.3 -
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07/12GREEN REIT : Plans for Block N at Central Park Unveiled
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07/12GREEN REIT : Central Park development planning
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07/09DIMENSIONAL FUND ADVISORS LTD. : Form 8.3 - Green REIT plc - Ordinary shares
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07/02GREEN REIT : Form 8.3 -
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07/01MAN GROUP PLC : Form 8.3 - Green REIT plc
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06/30Green REIT narrows buyout field to four - Sunday Times
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06/26GREEN REIT : Form 8.3 - Green REIT Plc
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06/25GREEN REIT : Form 8.3 -
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More news
Financials (EUR)
Sales 2019 68,5 M
EBIT 2019 105 M
Net income 2019 104 M
Debt 2019 221 M
Yield 2019 3,63%
P/E ratio 2019 12,7x
P/E ratio 2020 36,1x
EV / Sales2019 21,9x
EV / Sales2020 20,6x
Capitalization 1 280 M
Chart GREEN REIT
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Technical analysis trends GREEN REIT
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 1,73  €
Last Close Price 1,83  €
Spread / Highest target 1,09%
Spread / Average Target -5,65%
Spread / Lowest Target -11,5%
EPS Revisions
Managers
NameTitle
Pat Gunne Chief Executive Officer & Non-Executive Director
Paul Gary Kennedy Non-Executive Chairman
Niall O’Buachalla Chief Financial Officer & Secretary
Jerome Joseph Kennedy Senior Independent Director
Stephen John Roland Vernon Non-Executive Director
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1st jan.Capitalization (M$)
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