Grainger has acquired a 112 unit regional PRS portfolio for £10.4m. The acquisition represents further progress in PRS which offers attractive income returns and leverages Grainger’s experience in managing portfolios of residential assets. We see upside to the current share price as Grainger reinvests in PRS to create significant shareholder value in the medium term utilising the capital released naturally as reversionary assets fall vacant. We retain our 295p 12m Target Price and our BUY recomm ....
28 Oct 2015
Acquisition of 112 unit regional PRS portfolio
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Acquisition of 112 unit regional PRS portfolio
Grainger plc (GRI:LON) | 254 -12.7 (-1.9%) | Mkt Cap: 1,885m
- Published:
28 Oct 2015 -
Author:
Andrew Watson -
Pages:
3
Grainger has acquired a 112 unit regional PRS portfolio for £10.4m. The acquisition represents further progress in PRS which offers attractive income returns and leverages Grainger’s experience in managing portfolios of residential assets. We see upside to the current share price as Grainger reinvests in PRS to create significant shareholder value in the medium term utilising the capital released naturally as reversionary assets fall vacant. We retain our 295p 12m Target Price and our BUY recomm ....