Octopus Renewables Buys Back 850,000 Shares

An update from Octopus Renewables Infrastructure Trust Plc ( (GB:ORIT) ) is now available.

Octopus Renewables Infrastructure Trust Plc announced the purchase of 850,000 of its own ordinary shares at an average price of 72.1 pence per share, which will be held in treasury. This transaction affects the total number of voting rights in the company, now standing at 546,220,568, which shareholders can use for calculating their interests in accordance with regulatory guidelines.

The most recent analyst rating on (GB:ORIT) stock is a Hold with a £0.85 price target. To see the full list of analyst forecasts on Octopus Renewables Infrastructure Trust Plc stock, see the GB:ORIT Stock Forecast page.

Spark’s Take on GB:ORIT Stock

According to Spark, TipRanks’ AI Analyst, GB:ORIT is a Outperform.

Octopus Renewables Infrastructure Trust Plc scores a solid 72, driven by strong financial health and positive technical signals. The company’s strategic corporate actions, including share buybacks and dividend increases, underscore its commitment to shareholder value. Despite high valuation metrics, the attractive dividend yield provides a counterbalance. The primary concern remains the declining revenue trend, which could impact long-term growth.

To see Spark’s full report on GB:ORIT stock, click here.

More about Octopus Renewables Infrastructure Trust Plc

Octopus Renewables Infrastructure Trust Plc operates in the renewable energy sector, focusing on investments in renewable energy assets. The company aims to deliver sustainable returns by investing in a diversified portfolio of renewable energy infrastructure projects.

Average Trading Volume: 1,386,694

Technical Sentiment Signal: Buy

Learn more about ORIT stock on TipRanks’ Stock Analysis page.