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Great Portland Estates plc R.E.I.T. (GB:GPE)
LSE:GPE
UK Market
GPE
Great Portland Estates plc R.E.I.T.
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Great Portland Estates plc R.E.I.T. (GPE) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date
Nov 19, 2026
TBA (Confirmed)
Period Ending
2027 (Q2)
Consensus EPS Forecast
―
Last Year’s EPS
0.04
Same Quarter Last Year
Analyst Consensus
Hold
Based on 7 Analysts Ratings

Earnings Call Summary

Q4 2026
Earnings Call Date:May 21, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and financial story: record leasing, material rent roll and NOI growth, notable valuation gains on developments, disciplined contracyclical acquisitions at significant discounts and a healthy balance sheet with ample liquidity. Key risks noted were construction cost pressures, mixed investment market/yield uncertainty, dependency on crystallizing a large sales program and the timing required for dividends to be fully cash‑covered. On balance the company emphasised execution, multiple growth levers (lettings, developments, fully managed flex) and financial flexibility to manage downside.
Company Guidance
The guidance from the call was bullish and metric‑heavy: management reiterated office rental growth guidance of +4% to +7% for the year, targeted EPRA EPS of ~10p in the next 12 months (c. +20%), and reiterated a medium‑term ambition to deliver 3x EPS versus April 2025 and a return on equity >10% this financial year (three‑year ROE well ahead of cost of capital); they expect further c.20% earnings growth next 12 months, development surpluses of c. £260m (base case) rising to ~£330m at 20% rental growth or c. £427m with 25bp yield compression, and plan to crystallize sales in excess of £1.2bn (c. £200m near term) while remaining a net seller this year; operational targets include growing rent roll from £153m (up 46%) toward a potential £299m with completions/10% rent growth, capturing c. £42m of rent‑roll upside in the next 12 months (vacancy/reversion £16m + development/refurb £26m), doubling/strongly growing NOI (NI0 up >3x from £9m to £28m, medium‑term target c. £58m and ambition of c. £100m post acquisitions), and maintaining financial strength with LTV range 10–35% (current LTV 28.6%), £412m liquidity, WA debt maturity 5.4 years, WA interest rate 4.3% and a Moody’s Baa2 rating.
Record Leasing Activity
Total lettings of GBP 70.9m (record), 10.3% ahead of ERV with Q4 a 15.8% beat; fully managed (flex) lettings of GBP 40.9m, 7.7% ahead of ERV.
Strong Earnings and Value Metrics
EPRA EPS up 63% to 8.5p (ahead of consensus); EPRA NTA 524p, up 6.1%; dividend increased 4% to 8.2p and fully covered.
Rapid Rent Roll and NOI Growth
Rent roll up 46% to GBP 153m; net operating income increased from GBP 9m to GBP 28m (more than 3x in two years); fully managed NOI up c.2.1x and fully managed contribution rising from 8% to 28% of gross profit in two years.
Portfolio Valuation and ERV Upside
Like‑for‑like portfolio valuation +4.3%; ERV growth +5.8% (offices +7%+); West End (66% of portfolio) valuation +6%; on‑site development valuations rose ~22.2% with an GBP 82m development surplus.
Disciplined, Contracyclical Capital Allocation
Acquisitions since rights issue ~GBP 231m (c. GBP 756/ft) at average ~60% discount to replacement cost (including CapEx ~GBP 500m); GBP 490–516m of disposals crystallized (sales at ~GBP 1,200/ft, ~2% premium to book).
Large Development Pipeline with Material Upside
CapEx program GBP 590m (GDV GBP 1.6bn); on‑site CapEx to come GBP 223m, pipeline CapEx GBP 367m; expected development surpluses c. GBP 260m (10% rental growth) rising to GBP 330m (20% growth) or GBP 427m if yields compress 25bps.
Strong Balance Sheet and Liquidity
LTV reduced from 30.8% to 28.6%; available liquidity GBP 412m (up GBP 36m); new GBP 525m ESG‑linked RCF and extended GBP 150m RCF; weighted average debt maturity 5.4 years and weighted avg interest rate 4.3%; Moody's rating Baa2 reaffirmed.
Operational & Customer Metrics
Vacancy better than forecast; customer retention 64%; AI‑led customers 27%; flex portfolio >650,000 sq ft (85% let or under offer); service margin 37% (vs 20% hurdle); potential gross rents from flex c. GBP 100m over next 3 years.

Great Portland Estates plc R.E.I.T. (GB:GPE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
Daily Earnings Calendar >

GB:GPE Earnings History

Report Date
Fiscal Quarter
Forecast / EPS
Last Year's EPS
EPS YoY Change
Press Release
Slides
Play Transcript
Nov 19, 2026
2027 (Q2)
- / -
0.039―――
May 21, 2026
2026 (Q4)
0.04 / 0.04
0.02944.83% (+0.01)――
Nov 18, 2025
2026 (Q2)
0.04 / 0.04
0.02369.57% (+0.02)――
May 21, 2025
2025 (Q4)
0.03 / 0.03
0.0245.00% (<+0.01)――
Nov 14, 2024
2025 (Q2)
0.03 / 0.02
0.039-41.03% (-0.02)――
May 23, 2024
2024 (Q4)
0.03 / 0.02
0.042-52.38% (-0.02)――
Nov 16, 2023
2024 (Q2)
0.06 / 0.04
0.0375.41% (<+0.01)――
May 24, 2023
2023 (Q4)
0.04 / 0.04
0.02944.83% (+0.01)――
Nov 17, 2022
2023 (Q2)
0.05 / 0.04
0.061-39.34% (-0.02)――
May 19, 2022
2022 (Q4)
0.05 / 0.03
0.064-54.69% (-0.04)――
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed

GB:GPE Earnings-Related Price Changes

Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
May 21, 2026
302.40 p308.20 p+1.92%
Nov 18, 2025
318.58 p312.14 p-2.02%
May 21, 2025
331.94 p322.67 p-2.79%
Nov 14, 2024
290.01 p287.11 p-1.00%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Great Portland Estates plc R.E.I.T. (GB:GPE) report earnings?
Great Portland Estates plc R.E.I.T. (GB:GPE) is schdueled to report earning on Nov 19, 2026, TBA (Confirmed).
    What is Great Portland Estates plc R.E.I.T. (GB:GPE) earnings time?
    Great Portland Estates plc R.E.I.T. (GB:GPE) earnings time is at Nov 19, 2026, TBA (Confirmed).
      Where can I see when companies are reporting earnings?
      You can see which companies are reporting today on our designated earnings calendar.
        What companies are reporting earnings today?
        You can see a list of the companies which are reporting today on TipRanks earnings calendar.
          What is the P/E ratio of Great Portland Estates plc R.E.I.T. stock?
          The P/E ratio of Great Portland Estates plc R.E.I.T. is N/A.
            What is GB:GPE EPS forecast?
            Currently, no data Available