LSE:GRIO

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Ground Rents Income Fund

Executive Summary

Ground Rents Income Fund PLC is a real estate investment trust externally managed by Braemar Estates (Residential) Ltd, Asset Management Arm. More Details


Snowflake Analysis

Imperfect balance sheet unattractive dividend payer.

Share Price & News

How has Ground Rents Income Fund's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: GRIO has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.2%

GRIO

1.7%

GB REITs

1.9%

GB Market


1 Year Return

-7.1%

GRIO

-17.6%

GB REITs

-15.5%

GB Market

Return vs Industry: GRIO exceeded the UK REITs industry which returned -20% over the past year.

Return vs Market: GRIO exceeded the UK Market which returned -17% over the past year.


Shareholder returns

GRIOIndustryMarket
7 Day-1.2%1.7%1.9%
30 Day-1.2%-16.5%-1.7%
90 Day-0.6%-22.2%-2.6%
1 Year-2.7%-7.1%-20.4%-17.6%-12.3%-15.5%
3 Year-23.8%-31.8%-11.8%-10.7%-7.8%-18.7%
5 Year-12.8%-26.7%-15.9%-19.7%17.2%-8.7%

Price Volatility Vs. Market

How volatile is Ground Rents Income Fund's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Ground Rents Income Fund undervalued compared to its fair value and its price relative to the market?

0.74x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: GRIO (£0.82) is trading above our estimate of fair value (£0.5)

Significantly Below Fair Value: GRIO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: GRIO is unprofitable, so we can't compare its PE Ratio to the GB REITs industry average.

PE vs Market: GRIO is unprofitable, so we can't compare its PE Ratio to the UK market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate GRIO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: GRIO is overvalued based on its PB Ratio (0.7x) compared to the GB REITs industry average (0.6x).


Next Steps

Future Growth

How is Ground Rents Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

38.1%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ground Rents Income Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Ground Rents Income Fund performed over the past 5 years?

-49.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GRIO is currently unprofitable.

Growing Profit Margin: GRIO is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: GRIO is unprofitable, and losses have increased over the past 5 years at a rate of 49.9% per year.

Accelerating Growth: Unable to compare GRIO's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: GRIO is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (-25.8%).


Return on Equity

High ROE: GRIO has a negative Return on Equity (-0.12%), as it is currently unprofitable.


Next Steps

Financial Health

How is Ground Rents Income Fund's financial position?


Financial Position Analysis

Short Term Liabilities: GRIO's short term assets (£4.1M) do not cover its short term liabilities (£4.9M).

Long Term Liabilities: GRIO's short term assets (£4.1M) do not cover its long term liabilities (£14.9M).


Debt to Equity History and Analysis

Debt Level: GRIO's debt to equity ratio (14%) is considered satisfactory.

Reducing Debt: GRIO's debt to equity ratio has increased from 5% to 14% over the past 5 years.

Debt Coverage: GRIO's debt is well covered by operating cash flow (20.3%).

Interest Coverage: GRIO is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Ground Rents Income Fund current dividend yield, its reliability and sustainability?

4.86%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: GRIO's dividend (4.86%) is higher than the bottom 25% of dividend payers in the UK market (1.83%).

High Dividend: GRIO's dividend (4.86%) is low compared to the top 25% of dividend payers in the UK market (5.29%).


Stability and Growth of Payments

Stable Dividend: GRIO has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: GRIO's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (95.5%), GRIO's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?


CEO

Ground Rents Income Fund has no CEO, or we have no data on them.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ground Rents Income Fund PLC's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ground Rents Income Fund PLC
  • Ticker: GRIO
  • Exchange: LSE
  • Founded: 2012
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: UK£79.060m
  • Shares outstanding: 97.01m
  • Website: https://www.groundrentsincomefund.com

Number of Employees


Location

  • Ground Rents Income Fund PLC
  • 1 London Wall Place
  • London
  • Greater London
  • EC2Y 5AU
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GRIOLSE (London Stock Exchange)YesOrdinary SharesGBGBPAug 2012

Biography

Ground Rents Income Fund PLC is a real estate investment trust externally managed by Braemar Estates (Residential) Ltd, Asset Management Arm. The firm invest in long dated United Kingdom ground rents. It a ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/28 20:59
End of Day Share Price2020/09/28 00:00
Earnings2020/03/31
Annual Earnings2019/09/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.