reports
- James Carthew
Africa, substantially de-risked
Grit Real Estate Income Group (Grit) is flying the flag for African real estate investment. The significant growth potential of the continent’s emerging economies has always come with some degree of risk attached to it. However, Grit’s investment strategy enables it to retain exposure to that growth potential, while substantially de-risking it by leasing property to blue-chip multinational corporations, including government embassies, on US dollar and euro denominated leases.
- Ed Stacey
Grit Real Estate Income Group: Big yields, blue-chip asset base
Grit Real Estate Income Group (LON:GR1T) is a multi-listed (LSE, JSE, SEM) property company with a focus on selected African countries with a combination of economic growth, investment friendly policies and political stability. Rental income is underpinned by a blue-chip multinational tenant base, hard currency leases, and high occupancy rates. Grit has a strong management team, with more than 59 years’ African experience cumulatively. The portfolio has grown to US$642mln from US$210ln in 2015,...
- Bhavik Desai
GRIT "ACCUMULATE" Rating Introduced
Our consensus valuation is computed to be $1.54 which represents an 6.0% upside on today’s closing price and therefore introduce an ACCUMULATE rating GRIT invests in yielding properties deemed to be ‘safe’ on the basis of its core tenants and jurisdiction across all of Africa except South Africa In H1-FY18, Adj. PAT jumped 5x to $11.4M reflecting portfolio growth. Going forward, we expect income and profits to grow through additional purchases in-line with a target to achieve a...
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