Just upgraded to a BUY by Goldman Sachs.....

Broker recommendation full details Date: 2 June, 2009


Broker: Goldman Sachs Company: Great Portland Estates


Recommendation:
upgrade to Buy from neutral

InterMarket Stock's Rating:
Buy

Broker flash.

GPOR Goldman: reiterated buy, tp reiterated 520

Nice chart GF.

I like the state of momentum oscilator skinny.

A raft of bullish news out for GPOR today.......



UPDATE 2-West End office values build up Great Portland NAV

21 Jul 2011 - 10:44BRIEF-Great Portland Estates JV sells London assets
21 Jul 2011 - 07:11BRIEF-Great Portland says West End offices lift valuations
21 Jul 2011 - 07:09REG Great Portland Ests.Capital & Counties Great Capital Partnership sells 79.1m of assets CAPCC.L GPOR.L21 Jul 2011 - 07:00REG Great Portland Ests. First quarter valuation and business update GPOR.L21 Jul 2011 - 07:00

StockMarketWire.com
Great Portland Estates' portfolio valuation rose by 3.1%, 5.2% and 8.2% over three, six and 12 months respectively.

And the group's has seen rental growth of 0.9% (1.3% West End offices, 0.4% West End retail) in its first quarter to the end of June.

Chief executive Toby Courtauld said: "Against a backdrop of global economic turbulence and increased central bank monetary stimulus, a significant quantity of capital from around the world continues to flow into the central London property market, resulting in yields reducing in the quarter for prime West End assets.

"With resilient tenant demand, minimal vacancy of Grade A space and constrained development supply, we expect further rental growth, particularly at our well-located, high quality buildings."

Went long here this morning on the positive RNS.....

StockMarketWire.com
Great Portland Estates reports a strong first half performance as it focuses on capturing the significant organic growth potential across its 100% central London portfolio.

The group delivered more organic growth in the period with the portfolio valuation up 8.9%2 since 31 March.

The group also reports:

- 12 month capital return of 21.9% outperforming IPD Central London Index of 20.7%, with total property return of 25.0% v 25.1% for IPD Central London; five year capital return of 109.3%, 21.5% ahead of IPD Central London

- Rental value growth of 3.6%2 (3.6% offices, 3.4% retail)

- Rent roll growth of 7.8% over six months

And it also reports excellent financial results:

· EPRA NAV per share of 636 pence, up 11.8% in period and 7.3% in Q2

· Net assets of £2,160.8 million (31 March 2014: £1,931.9 million)

· EPRA profit before tax of £21.0 million, up 16.0% on 2013. EPRA3 EPS of 5.9 pence, up 11.3%

· After revaluation surplus, reported profit before tax of £246.5 million (2013: £146.9 million)

· Interim dividend per share of 3.5 pence, up 2.9%

Chief executive Toby Courtauld said: "We are pleased to report a strong performance across the Group during the first half as we focus on capturing the significant organic growth potential across our 100% central London portfolio.

"London continues to consolidate its position as one of the world's most successful city economies: jobs are being created at the fastest rate in a generation across a range of industries; the Capital's businesses are investing for growth; and its appeal as an investment destination of choice continues unabated.

"Within this positive context, we look forward to a productive second half: we can expect strong leasing interest in both our committed development properties and our limited quantity of vacant space, in both cases at rates ahead of ERV's; we will crystallise further surpluses through our disciplined approach to capital recycling; and our plentiful, low-cost financing will enable us to deliver on our significant growth plans."