Grainger (GRI)

Sector:

Real Estate

Index:

FTSE 250

 248.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 274.80p
  • 52 Week Low: 218.40p
  • Currency: UK Pounds
  • Shares Issued: 741.56m
  • Volume: 0
  • Market Cap: £1,839.06m
  • RiskGrade: 114

Grainger experiences 'strong' YTD rental growth

By Iain Gilbert

Date: Wednesday 07 Feb 2024

LONDON (ShareCast) - (Sharecast News) - Residential property business Grainger said on Wednesday that it had seen "strong rental growth" in the four months ended 31 January.
Total like-for-like rental growth was up 8.3% so far in the company's trading year, ahead of the 6.1% growth seen at the same time a year earlier, while PRS rental growth was up 8.4%, and regulated tenancy rental growth was 7.6%.

Occupancy in the group's PRS portfolio also remained high at 97.2%, down slightly from the 98.7% figure seen at the same time in January 2023.

Grainger also noted that it continued to see "strong pricing", achieving average sales prices 2.6% ahead of valuations, and that it had benefitted from "good levels of liquidity" in the residential sales market.

Looking forward, Grainger said the "strong, compelling fundamentals" of the UK residential rental market continue to underpin its investment case, with demand for renting, and its product specifically, remaining "exceptionally high".

"We continue to achieve record levels of rental growth, and should wage growth ameliorate later this year, we expect rental growth to continue be higher than historic averages, driven by our market-leading operational platform. With local and national elections later this year, we are comfortable that political and regulatory risk for our business is low and that our responsible approach to delivering high-quality rental homes for the mid-market is very much aligned to the main political parties' priorities," said Grainger.

As of 0815 GMT, Grainger shares were down 1.00% at 258.40p.









Reporting by Iain Gilbert at Sharecast.com

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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.

 

Grainger Market Data

Currency UK Pounds
Share Price 248.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 274.80p
52 Week Low 218.40p
Volume 0
Shares Issued 741.56m
Market Cap £1,839.06m
RiskGrade 114

Grainger Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
11.03% below the market average11.03% below the market average11.03% below the market average11.03% below the market average11.03% below the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 4
Buy 5
Neutral 1
Sell 0
Strong Sell 0
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Grainger Dividends

  Latest Previous
  Interim Final
Ex-Div 23-May-24 28-Dec-23
Paid 05-Jul-24 14-Feb-24
Amount 2.54p 4.37p

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

Grainger Key Personnel

CEO Helen Gordon
CFO Robert Hudson

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