Added to YB: 2026-04-10
Pitch date: 2026-04-08
GPE.L [bullish]
Great Portland Estates Plc
-1.11%
current return
Author Info
No bio for this author
Company Info
Great Portland Estates Plc is a FTSE 250 property investment and development company, owning a 2.4 billion pounds portfolio of London real estate.
Market Cap
GBP 1.2B
Pitch Price
GBP 3.07
Price Target
N/A
Dividend
2.56%
EV/EBITDA
67.92
P/E
8.61
EV/Sales
20.26
Sector
Office REITs
Category
value
Great Portland Estates (GPE LN) – Growing Property Earnings
GPE.L: London office REIT w/ £3.1bn portfolio, 94% near Elizabeth Line. Contra-cyclical strategy validated: net buyer 10/19 yrs, net seller 9/19 yrs; raised £640M equity, returned £566M buybacks+£654M divs since 2007. Rent roll £123M to double via £102M dev/refurb ERV. FY27 EPS ~10p (2x FY25's 5.2p), medium-term 15-20p on 10%+ ROE. Trading 40% below 504p NAV; consensus sees 647p by FY29. Dev surplus £308-520M (~half mkt cap). 28% LTV, 5% debt cost. Grade A supply tight, 4-7% rent growth guided. Recent lettings 9% above ERV.
Read full article (15 min)