Market's view on GPE
Published on April 2024
- Stock watchers note the company’s yield is significantly lower compared to its peers, despite having decent assets.
- Concerns are raised about the company’s recent performance being described as ‘ugly’ by a stock watcher, implying a negative outlook.
- Discussions about the potential longer-term value of the company’s stock at its current price, although there are concerns about its discount to NAV.
- Stock watchers are buying small positions in hopes of future gains; one mentions purchasing at under £3.70.
- The company’s investment appeal is noted not for immediate income but for potential medium-term value from a large development pipeline and possible increases in portfolio value.
- Stock watchers highlight the company’s stock price is at the lower end of recent trading ranges, with missed opportunities to buy during dips.
- Despite a solid update from the company, the absence of recent asset sales is noted.
- Strategy of buying on dips and selling on rises is evident in the discussion, reflecting a trading approach to the stock.
- The company’s stock is seen as very cheap by one watcher, particularly in relation to prime office spaces in London.
- A significant discount to NAV is recognized, however, the low yield is a deterrent for some investors.
- Negative sentiment from investment analysts, including a downgrade to ‘Sell’ from Citi, influences stock watchers’ views and trading decisions.