0948 GMT - Great Portland Estates' stock should see a positive turning point as 1H results indicate strong expectations for rents, asset values and development profit opportunities, Citi analysts write in a note. The real-estate investment trust reiterated estimated rental value growth guidance for its portfolio of between 3% to 6%, including 5% to 10% growth for prime offices, Citi says. Management expect a positive total accounting return in 2025 and 10% compound annual growth rate in the medium term, Citi says. "1H results... evidence the inflection point we estimate for a positive turning point in the stock." Shares are down 0.1% at 298 pence and are down 19% over the past 12 months. (anthony.orunagoriainoff@dowjones.com)
(END) Dow Jones Newswires
November 14, 2024 04:48 ET (09:48 GMT)
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