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<b>Great Portland Estates PLC Earns “Outperform” Rating from BNP Paribas (GPOR)</b> Posted by Reagan on Mar 31st, 2015 Great Portland Estates PLC (LON:GPOR)‘s stock had its “outperform” rating reaffirmed by stock analysts at BNP Paribas in a report issued on Tuesday. They currently have a GBX 890 ($13.24) price target on the stock. BNP Paribas’ price objective indicates a potential upside of 7.88% from the stock’s previous close. Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity initiated coverage on shares of Great Portland Estates PLC in a research note on Friday. They set a “buy” rating and a GBX 918 ($13.65) price target on the stock. Analysts at Morgan Stanley raised their price target on shares of Great Portland Estates PLC from GBX 860 ($12.79) to GBX 930 ($13.83) and gave the company an “overweight” rating in a research note on Thursday, March 26th. Finally, analysts at Numis Securities Ltd reiterated a “hold” rating and set a GBX 861 ($12.81) price target on shares of Great Portland Estates PLC in a research note on Tuesday, March 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of GBX 899.75 ($13.38). Great Portland Estates PLC (LON:GPOR) opened at 821.00 on Tuesday. Great Portland Estates PLC has a one year low of GBX 600.04 and a one year high of GBX 849.50. The stock has a 50-day moving average of GBX 803. and a 200-day moving average of GBX 725.. The company’s market cap is £2.82 billion. Great Portland Estates plc is a property investment and development company focused on central London real estate. The Company’s 81% of its portfolio is in the West End with the remainder in the City, Midtown and Southwark. It manages its property portfolio in-house, including asset management, leasing and development management.
Interesting whether it will return again to the 500p -520p range.If so it will make this a fairly predictable up/down share up near to 590p.
support in the 500p-520p band..
support in the 600p-520p band,resistance appears to be from 580p-600p
recovering now?
is h and s over
see 30 May-a "nice" head and shoulders to end down there ?
might have been due to the May 29th dividend
is this stabilising more,or more falls to come ?
now a possible buy signal but looks reluctant to conform this..
rate slowing perhaps
When at the peak of about 600p,that was +80 over the 50DMA compared to +40 between the 50DMA and 200DMA which from articles is unstable,now it is well within the 50DMA/200DMA interval which is better.It might need to get under the 50DMA now at 491p before any possible new uptick..?
recovering maybe from a 566p on Friday ?
here a small recovery maybe ?
big drop in Japan
A fairly small drop on poor news from the Fed about maybe stopping QE.A very gog drop in Japan over 7% that's big so maybe this will go further ? I don't mind holding GPOR long term so won't sell at the moment.Though it will probably drop more ?
one
This hopefully looks a temporary dip in a rising chart so in now here,seems a bit quiet lol..GL/ DYOR.
"Conditions in London's commercial property markets remain supportive," Chief Executive Officer Toby Courtauld said in the statement. "The demand for well laid out retail and office space in good locations is attracting healthy levels of tenant demand."
Great Portland Estates said Thursday the value of its real estate rose 1.4 per cent in the third quarter, buoyed by retail assets in London's West End. The London-based property developer posted a valuation of £2.19bn for the last three months of 2012, a £26.5m gain quarter-on-quarter. Net asset value per share climbed 1.4% to 430p at the end of the quarter, compared to 424p at September 30th. The main drivers of the quarterly valuation uplift were West End retail, up 4.3%. Also boosting results was the value of the company's developments - including Hanover Square, an office and retail project in Mayfair - which jumped by 2.6% during the quarter. The wholly owned portfolio was valued at £1.62bn, a like-for-like valuation uplift of 1.5% on the quarter.
Property group Great Portland Estates has announced that its 50-50 joint venture (JV) with Scottish Widows Investment Partnership has pre-let 40,000 square foot to Lane Clark and Peacock in its development at 95 Wigmore Street, west London. Lane Clark and Peacock will occupy the first to third floors in the nine-storey building and will take a fifteen-year lease, paying a total of £3.1m per annum, equating to an average of £77.50 per sq ft for the office space, although it will receive 28.5 months' rent free from the lease commencement. The space will be handed over in March 2013. The JV, known as The Great Wigmore Partnership, is currently working to complete the 111,200 sq ft project by June next year. The site will provide 82,300 sq ft of offices, 16,400 sq ft of retail space, and 12,500 sq ft of residential. Neil Thompson, Portfolio Director of Great Portland said: "This pre-letting of close to half of the office space in the building is further good letting business for Great Portland following the pre-lets we concluded with Savills at 33 Margaret Street, W1 and UBM at 240 Blackfriars Road, SE1, earlier this year. "We are looking forward to welcoming LCP on completion of their fit-out in the summer next year. 95 Wigmore Street will be a prominent, high quality West End building and we have good interest in the remaining space".
Great Portland Estates: UBS raises target price from 455p to 475p, neutral rating reiterated.
Tempus in The Times writes that anyone who supported Great Portland Estates’ last fundraising, an eight-for-eleven rights issue to raise £166m in May 2009, will not be complaining. The issue was at 133p; the shares closed last night at 458p. The company spent £644m, at a time when its Chief Executive Toby Courtauld was convinced that the London property market represented a once-in-a-lifetime opportunity; this has since generated an annual rate of return of approaching 18 per cent. Great Portland’s approach is to buy less valuable, second-tier property, which may be let on low rents, be in need of refurbishment or be subject to a complicated ownership structure and so is unattractive to those trophy buyers. There is little bank lending available for such investments, so that market is less competitive. The company, therefore, went back to the market to place new shares equivalent to about 10% of the issued capital, to raise almost £141m to invest in such properties. The placing went through the market like a dream, at a price of 450p a share. Great Portland also issued its halfway trading statement, which showed a 4% rise in the value of the portfolio and a good performance against the rest of the London market. The shares are on an 8% premium to net assets, but it would be a brave investor to bet against Courtauld and his team.
Broker comment Liberum Capital commented: "The shares have been the strongest performers in our coverage universe year to date (+43.1%) but still trade on the narrowest premium of the central London specialists at 8.9% to the net asset value announced this morning. We expect its West End portfolio to continue to outperform the wider market and reiterate our 'buy' rating."........BUT AS ALWAYS DYOR GL ALL...
"Conditions in our central London market remain supportive. Although the rate of leasing was below the long run average around the time of the Olympics, we are witnessing a solid pick-up in demand from prospective occupiers, particularly in the West End. "We maintain our confident outlook; our portfolio, 100% in central London, is rich with asset management and development opportunity and is well positioned for further growth; our conservative gearing and low cost firepower, expected to be supplemented by the placing announced this morning, will enable us to deliver on our existing growth plans and exploit new opportunities as we find them."