Great Portland Estates (GPE)

Sector:

Property Investment Trusts

Index:

FTSE 250

339.50p
   
  • Change Today:
    -4.50p
  • 52 Week High: 378.98
  • 52 Week Low: 295.77
  • Currency: UK Pounds
  • Shares Issued: 406.19m
  • Volume: 1,743,118
  • Market Cap: £1,379.01m
  • RiskGrade: 82

FTSE 250 movers: Travel firms fly lower, Intu buoyed by bid

By Duncan Ferris

Date: Friday 19 Oct 2018

LONDON (ShareCast) - (Sharecast News) - London's mid cap index was down 0.70% at 18,828.74 on Friday, as travel firms stumbled.
Renishaw was sharply lower following a downgrade from Stifel, where the Wotton-under-Edge engineer's shares were given a price target of 3,600p.

Plastics maker Essentra softened as like-for-like revenues came out flat in the third quarter, or up 1.5% when adjusting for the closure of the Newport cartons site, with the packaging division returning to growth. The company said the outlook for the full year remained unchanged as the quarterly results reflected the benefits of the strategic actions it had taken, as well as the "increasing stability" across the company.

Travel companies and airlines featured heavily among the fallers, with On The Beach Group, Thomas Cook and airline Wizz Air all dropping after analysts at Mainfirst cut expectations for European airlines in 2019 across the board following a difficult summer for travel outfits.

"We expect a less dramatic picture for summer 2019 as the industry (hopefully) adapts to the higher fuel price environment, enabling a better pass through of the cost burden. Still, the risk remains that airport slot protection and market share wins are prioritised over rationality and profits in the short-term," Mainfirst said in a note to clients.

Shopping centre owner Intu Properties surged almost 11% after confirming it had received a possible offer from a consortium led by one of its senior to directors to buy the company at 210p a share, valuing it at £2.8bn. Intu's deputy chairman John Whittaker's Peel Group, which already holds around 27% of the firm, has teamed up with Saudi conglomerate Olayan Group and Canary Wharf owner Brookfield Property and will conduct due diligence before confirming whether or not they will make a firm offer.

Following the bid for Intu, fellow real estate investor Great Portland Estates made gains as Liberum reiterated a 'hold' rating and target price of 705p in a note researching the UK real estate market. "A gradual slide in forecasts does little to merit a re-rating, but equity valuations already price much of this pressure and a potential bid for Intu may provide some support to the sector."

Dechra Pharmaceuticals was on the front foot as it announced the acquisition of Brazil's Venco for BRL185m (£37.8m) and it said its performance in the first quarter was in line with management's expectations. The acquisition will be financed from Dechra's existing cash and borrowing facilities and is due to complete next month.

Intelectual property business IP Group rallied on the back of an initiation at 'buy' with a target price of 160p at Berenberg, where analysts noted that 2017 had been a "transformational" year for the company.

The analysts hailed the acquisition of Touchstone Innovations as diversifying IP Group's portfolio, adding assets, co-investor relationships and further sector competence, while also acknowledging the importance of adding a third region to its university footprint.

Market Movers

FTSE 250 (MCX) 18,828.74 -0.70%


FTSE 250 - Risers

Intu Properties (INTU) 196.65p 10.66%
Dechra Pharmaceuticals (DPH) 2,318.00p 7.31%
Great Portland Estates (GPOR) 705.40p 2.22%
Ferrexpo (FXPO) 220.60p 2.04%
Fidelity China Special Situations (FCSS) 191.64p 1.94%
IP Group (IPO) 112.50p 1.72%
Kaz Minerals (KAZ) 486.20p 1.72%
CYBG (CYBG) 268.80p 1.66%
F&C Commercial Property Trust Ltd. (FCPT) 137.00p 1.63%
Avast (AVST) 289.35p 1.53%

FTSE 250 - Fallers

Renishaw (RSW) 3,848.00p -8.21%
Auto Trader Group (AUTO) 382.80p -7.54%
Essentra (ESNT) 358.80p -7.00%
Elementis (ELM) 206.40p -5.93%
On The Beach Group (OTB) 420.00p -5.62%
Thomas Cook Group (TCG) 39.88p -5.36%
Weir Group (WEIR) 1,550.00p -4.50%
Vesuvius (VSVS) 534.00p -4.47%
Wizz Air Holdings (WIZZ) 2,359.00p -4.03%
Spire Healthcare Group (SPI) 107.81p -4.00%

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

GPE Market Data

Currency UK Pounds
Share Price 339.50p
Change Today -4.50p
% Change -1.31 %
52 Week High 378.98
52 Week Low 295.77
Volume 1,743,118
Shares Issued 406.19m
Market Cap £1,379.01m
RiskGrade 82

GPE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
28.16% above the market average28.16% above the market average28.16% above the market average28.16% above the market average28.16% above the market average
48.15% below the sector average48.15% below the sector average48.15% below the sector average48.15% below the sector average48.15% below the sector average
Price Trend
44.72% below the market average44.72% below the market average44.72% below the market average44.72% below the market average44.72% below the market average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average
Income
59.65% below the market average59.65% below the market average59.65% below the market average59.65% below the market average59.65% below the market average
92.59% below the sector average92.59% below the sector average92.59% below the sector average92.59% below the sector average92.59% below the sector average
Growth
75.14% below the market average75.14% below the market average75.14% below the market average75.14% below the market average75.14% below the market average
93.1% below the sector average93.1% below the sector average93.1% below the sector average93.1% below the sector average93.1% below the sector average

What The Brokers Say

Strong Buy 2
Buy 5
Neutral 7
Sell 2
Strong Sell 2
Total 18
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

GPE Dividends

  Latest Previous
  Final Interim
Ex-Div 30-May-24 23-Nov-23
Paid 08-Jul-24 04-Jan-24
Amount 7.90p 4.70p

Trades for 14-Jun-2024

Time Volume / Share Price
16:35 1,539,554 @ 339.50p
16:35 2,819 @ 339.50p
16:35 6,144 @ 339.50p
16:35 2,466 @ 339.50p
16:35 2,319 @ 339.50p

GPE Key Personnel

CEO Toby Courtauld

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