01 Aug 2017
N+1 Singer - Grainger - Addition to PRS pipeline: £30.5m site in Milton Keynes
Grainger continues to make progress towards the £850m 2020 PRS target, acquiring a £30.5m PRS development in Milton Keynes via the GRIP REIT JV. The site will comprise 136 homes and once completed is expected to generate a 6% yield on cost. We make no changes to our forecasts, with our model already assuming continued progress towards the £850m target. We see shareholder value creation through deployment of capital into attractive PRS opportunities. We reiterate our BUY recommendation and 320p 1 ....
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N+1 Singer - Grainger - Addition to PRS pipeline: £30.5m site in Milton Keynes
Grainger plc (GRI:LON) | 252 3.8 0.6% | Mkt Cap: 1,871m
- Published:
01 Aug 2017 -
Author:
Andrew Watson -
Pages:
3
Grainger continues to make progress towards the £850m 2020 PRS target, acquiring a £30.5m PRS development in Milton Keynes via the GRIP REIT JV. The site will comprise 136 homes and once completed is expected to generate a 6% yield on cost. We make no changes to our forecasts, with our model already assuming continued progress towards the £850m target. We see shareholder value creation through deployment of capital into attractive PRS opportunities. We reiterate our BUY recommendation and 320p 1 ....