By Michele Maatouk
Date: Monday 28 Sep 2020
LONDON (ShareCast) - (Sharecast News) - Shares of Great Portland Estates surged on Monday after private equity firm KKR bought a stake in the property company.
According to a regulatory filing out late on Friday, KKR has taken a 5.35% stake.
The news provided a much-needed boost, with property stocks having taken a big hit from the coronavirus pandemic as tenants struggle to pay their rents due to store closures, while a push to home working has affected office spaces.
In a trading update in July, Great Portland said it had collected 69% of its June rent and 82% of its March rent.
It said at the time that while lockdown restrictions had started to ease and its office pre-letting momentum remained "healthy", Covid-19 was disrupting the activities of many of its occupiers, with some unable to pay their rent.
At 0910 BST, the shares were up 8.7% at 600.60p.
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 429.00p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 514.50p |
52 Week Low | 356.20p |
Volume | 0 |
Shares Issued | 253.87m |
Market Cap | £1,089.09m |
RiskGrade | 82 |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
Strong Buy | 3 |
Buy | 4 |
Neutral | 7 |
Sell | 2 |
Strong Sell | 3 |
Total | 19 |
Latest | Previous | |
---|---|---|
Interim | Final | |
Ex-Div | 23-Nov-23 | 01-Jun-23 |
Paid | 04-Jan-24 | 10-Jul-23 |
Amount | 4.70p | 7.90p |
You are here: research