Great Portland Estates plc R.E.I.T. (GPE) AI Stock Analysis

• Market Cap: £1.33B
• Dividend Yield: 2.52%
• Average Volume (3M): 858.23K
• Price to Earnings (P/E): 9.1
• Beta (1Y): 0.96
• Revenue Growth: 12.73%
• EPS Growth: N/A
• Country: UK
• Employees: 134
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Office
• EPS (TTM): 0.04
• Shares Outstanding: 406,188,660
• 10 Day Avg. Volume: 861,571
• 30 Day Avg. Volume: 858,228
• PEG Ratio: -0.05
• Price to Book (P/B): 0.51
• Price to Sales (P/S): 8.46
• P/FCF Ratio: -104.87
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £349.00
• Price Target Upside: 2.95% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: 341.00p ▲(0.59% Upside)

Great Portland Estates plc's overall stock score is driven by strong earnings call guidance and strategic corporate events, indicating positive future prospects. However, financial performance concerns, particularly in cash flow, and neutral technical indicators moderate the score. The stock's undervaluation enhances its appeal, but economic challenges remain a consideration.

Positive Factors

Strong Leasing Performance

Strong leasing performance indicates robust demand for GPE's properties, enhancing revenue stability and supporting long-term growth prospects.

Positive Market Outlook

A positive market outlook with rising prime rents suggests sustained demand for GPE's properties, bolstering future revenue and profitability.

Flex Workspace Growth

The growth in flex workspace offerings aligns with market trends towards flexible office solutions, positioning GPE to capitalize on evolving tenant needs.

Negative Factors

Rising Debt Levels

Increased leverage heightens financial risk, potentially impacting cash flow and limiting strategic flexibility in a volatile interest rate climate.

Cash Flow Challenges

Negative cash flow from operations suggests liquidity issues, which may constrain GPE's ability to fund growth initiatives and manage debt.

Income Volatility

Volatile net profit margins indicate potential challenges in cost management or revenue stability, affecting long-term financial predictability.

Great Portland Estates plc R.E.I.T. Business Overview & Revenue Model

Company Description

We are a FTSE 250 property investment and development company owning £2.6 billion of real estate in central London. We proactively manage our portfolio, flexing our activities in tune with London's property cycle to deliver long-term out-performance. We create in-demand spaces that people want to be part of; helping our occupiers, local communities and the city to thrive.

How the Company Makes Money

Great Portland Estates generates revenue through several key streams, primarily from rental income derived from its portfolio of commercial properties. The company leases office and retail spaces to a variety of tenants, which provides a stable and recurring revenue base. Additionally, GPE engages in property development, where it undertakes projects to enhance or create new properties to increase its asset value and generate future rental income. The company also benefits from strategic partnerships with other developers, investors, and businesses to expand its reach and access new markets. Furthermore, GPE is committed to sustainability, which not only attracts premium tenants but also can lead to cost savings and operational efficiencies. Overall, the combination of rental income, development activities, and strategic collaborations forms the backbone of GPE's revenue model.

Great Portland Estates plc R.E.I.T. Financial Statement Overview

Summary

Great Portland Estates plc shows mixed financial health. The income statement reveals operational profitability but also significant income volatility, impacting net margins. The balance sheet is relatively robust, yet increasing leverage poses potential risks. Cash flow performance is a concern, with negative operating and free cash flow indicating challenges in liquidity management.

Income Statement

The company's revenue has shown moderate growth over the years, with the latest year seeing a slight decrease. The gross profit margin is relatively stable, indicating consistent profitability from core operations. However, the net profit margin has experienced significant volatility, with large swings from profits to losses, suggesting potential issues with cost management or extraordinary items affecting net income. The EBIT and EBITDA margins have also fluctuated, reflecting operational challenges.

Balance Sheet

The balance sheet shows a reasonable equity ratio, indicating a stable capital structure with a significant proportion of assets funded by equity. However, the debt-to-equity ratio has increased, reflecting higher leverage which could pose risks in a rising interest rate environment. The return on equity has varied substantially, driven by volatile net income results.

Cash Flow

Cash flow from operations has been negative recently, raising concerns about the company's ability to generate cash internally. The free cash flow has also been negative, indicating reliance on external financing. The operating and free cash flow to net income ratios are adverse, suggesting cash flow issues relative to reported earnings.

Breakdown	TTM	Dec 2024	Dec 2024	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	104.50M	95.40M	94.20M	91.20M	84.20M	88.50M
Gross Profit	31.60M	62.10M	59.10M	57.20M	52.10M	62.10M
EBITDA	24.30M	-288.50M	132.20M	31.30M	16.20M	39.60M
Net Income	145.20M	-307.80M	116.00M	-163.90M	167.20M	-201.90M
Balance Sheet
Total Assets	3.23B	2.48B	3.03B	2.51B	2.78B	2.56B
Cash, Cash Equivalents and Short-Term Investments	23.10M	22.90M	18.20M	19.40M	16.70M	11.10M
Total Debt	1.09B	815.50M	935.00M	527.20M	589.70M	533.20M
Total Liabilities	1.19B	895.00M	1.03B	588.20M	662.40M	588.30M
Stockholders Equity	2.04B	1.58B	2.00B	1.92B	2.11B	1.97B
Cash Flow
Free Cash Flow	-14.90M	-7.70M	-4.60M	5.60M	15.90M	24.50M
Operating Cash Flow	-14.30M	-7.60M	-4.00M	5.80M	16.20M	24.90M
Investing Cash Flow	-396.00M	-231.70M	-384.60M	105.10M	-31.40M	-118.30M
Financing Cash Flow	191.60M	242.80M	402.60M	-108.20M	6.30M	9.60M

Great Portland Estates plc R.E.I.T. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 339.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:GPE, the sentiment is Positive. The current price of 339 is above the 20-day moving average (MA) of 318.20, above the 50-day MA of 318.48, and above the 200-day MA of 320.66, indicating a bullish trend. The MACD of 4.51 indicates Negative momentum. The RSI at 72.78 is Negative, neither overbought nor oversold. The STOCH value of 83.69 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:GPE.

Great Portland Estates plc R.E.I.T. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BLND	75 Outperform	£4.00B	11.37	6.14%	5.85%	-20.83%	―
DLN	72 Outperform	£2.07B	8.71	6.80%	3.93%	2.30%	―
SHC	68 Neutral	£2.77B	8.44	8.66%	2.58%	-0.04%	655.16%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
GPE	64 Neutral	£1.33B	9.10	7.31%	2.52%	12.73%	―
WKP	57 Neutral	£788.25M	-10.62	-5.20%	7.31%	-1.67%	-120.18%
HLCL	55 Neutral	£230.74M	9.20	6.07%	2.71%	-14.09%	―

Great Portland Estates plc R.E.I.T. Corporate Events

GPE Boosts West End Footprint with £51m Acquisition of 10 South Crescent

GPE has expanded its West End portfolio with the £51 million acquisition of a 155-year leasehold interest in 10 South Crescent, WC1, a 72,605 sq ft office and retail building near Tottenham Court Road’s Elizabeth line station. The property, currently single-let for four more years at a significantly below-market rent, will be repositioned as a best-in-class, decarbonised headquarters and retail asset with enhanced amenities and roof terraces, offering scope for substantial rental reversion given nearby lettings above £125 per sq ft versus the current £67 per sq ft. The deal, bought at a net yield of 6.8% and a projected 7.1% once the vacant retail unit is let, reinforces GPE’s strategy of sourcing value-add repositioning opportunities in its core West End market, bringing the number of such acquisitions since its 2024 rights issue to six with an estimated total capital commitment of about £440 million at a sizeable discount to replacement cost, underlining its confidence in central London office demand and potential upside for shareholders.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £341.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.

Great Portland Estates Directors Add Shares Through Monthly Incentive Plan

Great Portland Estates has disclosed routine director dealings under its 2010 Share Incentive Plan, in which employees buy partnership shares from salary and receive two matching shares from the company at no cost for each partnership share. In the latest monthly allocation, chief executive Toby Courtauld and executive directors Nick Sanderson and Dan Nicholson acquired small numbers of partnership shares at around 315.5p per share, with corresponding matching shares purchased via the plan’s trustee on the London Stock Exchange, underscoring continued management participation in the group’s long‑standing all‑employee share ownership scheme.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £341.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.

Great Portland Estates Directors Acquire Shares Through Incentive Plan

Great Portland Estates plc announced the acquisition of shares by its executive directors through the 2010 Share Incentive Plan (SIP). Under this plan, employees can purchase ‘Partnership Shares’ with their salary, and the company matches these with ‘Matching Shares’ at no extra cost. The recent transactions involved Executive Directors Toby Courtauld, Nick Sanderson, and Dan Nicholson, who acquired shares at specified prices, reflecting the company’s commitment to aligning employee interests with corporate performance.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £342.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.

Great Portland Estates Chair Purchases Shares, Signaling Confidence

Great Portland Estates plc announced that its Chair, William Eccleshare, purchased 4,000 ordinary shares at a price of 309.824p per share on 20 November 2025. This transaction, conducted on the London Stock Exchange, is part of the company’s compliance with the Market Abuse Regulation, reflecting transparency in managerial dealings and potentially signaling confidence in the company’s future prospects.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £342.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.

Great Portland Estates Reports Robust Growth and Strategic Developments

Great Portland Estates plc reported strong operational performance for the six months ending September 2025, with significant leasing activity and increased property values in its central London portfolio. The company achieved a 29% increase in rent roll and a 76% customer retention rate, reflecting the demand for its premium spaces. The development and refurbishment program is attracting interest, with over £10 million under offer at a premium to estimated rental value (ERV). The company expects continued growth, projecting a 10%+ annualized return on equity and a three-fold increase in EPRA EPS over the medium term. Additionally, Great Portland Estates made significant capital transactions, including sales and acquisitions, and maintained strong liquidity with a new £525 million revolving credit facility.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £297.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.

GPE Secures Planning for Whittington House HQ Refurbishment

Great Portland Estates plc has received planning permission from Camden Council for the refurbishment of Whittington House in the West End, London. This project will transform the building into a modern HQ workspace featuring sustainable offices and a new rooftop terrace, enhancing GPE’s portfolio and reinforcing its commitment to delivering exceptional office spaces in prime locations.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £349.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.

Great Portland Estates Releases Sustainable Bond Impact Report

Great Portland Estates plc has released its Sustainable Bond Allocation and Impact Report, detailing the allocation of proceeds from its £250 million Sustainable Bond issued in September 2024. The funds have been directed towards eligible green and social projects, reinforcing the company’s commitment to sustainability and its strategic goal of becoming net zero by 2040. This initiative highlights GPE’s dedication to integrating sustainability into its business model, potentially enhancing its market position and stakeholder confidence.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £349.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.

Great Portland Estates Enhances Executive Shareholding Through Incentive Plan

Great Portland Estates plc announced the acquisition of ordinary shares by its Executive Directors through the company’s 2010 Share Incentive Plan (SIP). Under the SIP, employees can purchase ‘Partnership Shares’ with their salary, and the company matches this by awarding two ‘Matching Shares’ for each ‘Partnership Share’ acquired. This initiative reflects the company’s commitment to aligning the interests of its executives with those of shareholders, potentially enhancing stakeholder value and reinforcing its market position.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £349.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.

Great Portland Estates Sells 1 Newman Street for £250 Million

Great Portland Estates plc has completed the sale of its property at 1 Newman Street, W1, to Royal London Asset Management Property for £250 million. This transaction, slightly above the March 2025 book value, represents a net initial yield of 4.48%. The sale of this BREEAM excellent, Grade A office and retail building, which generates an annual rent of approximately £11.9 million, allows GPE to reinvest in its development pipeline, enhancing its strategic positioning in the competitive London real estate market.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £349.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.

Great Portland Estates Secures £525 Million ESG-Linked Credit Facility

Great Portland Estates plc has secured a new £525 million ESG-linked revolving credit facility with four existing banks, replacing a previous £450 million facility. This move, which includes extending an existing £150 million facility, enhances the company’s financial flexibility and supports its strategy to invest in development and refurbishment projects, thereby strengthening its market position.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £349.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.

GPE Secures Planning Approval for St Thomas Yard Redevelopment

Great Portland Estates plc has secured planning permission from Southwark Council for the redevelopment of St Thomas Yard, SE1. The project, designed by Orms, involves a retrofit-first approach to transform the existing 1980s structure into an 11-storey office building, significantly increasing the net area while reducing carbon emissions. This development reflects GPE’s confidence in the London office market and commitment to sustainability, with construction expected to start in summer 2026 and complete by late 2028.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £349.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.