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Ground Rents Income Fund
(LSE:GRIO)
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Rating:46Neutral
Price Target:
18.00 p
▲(2.86% Upside)
Action:Reiterated
Date:08/04/26
The score is held down primarily by weak financial performance (steep revenue declines, recurring losses, and deteriorating cash flow) and a significant negative regulatory-driven valuation/NAV shock. Technicals show short-term momentum, but an extremely overbought RSI adds pullback risk, and valuation remains unattractive due to losses and no provided dividend yield.
Positive Factors
Moderate leverage and sizeable equity
The balance sheet shows relatively low-to-moderate leverage and a material equity base (52.2m in 2025). This structural strength provides financial flexibility to weather shocks, fund restructurings, and avoid forced asset sales, supporting longer-term viability despite earnings volatility.
Negative Factors
Severe revenue contraction and recurring losses
Revenue has collapsed materially and the company reported recurring net losses across recent years, undermining sustainable earnings power. This structural decline limits internal capital generation for reinvestment or dividends and makes recovery dependent on successful asset or business-model changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate leverage and sizeable equity
The balance sheet shows relatively low-to-moderate leverage and a material equity base (52.2m in 2025). This structural strength provides financial flexibility to weather shocks, fund restructurings, and avoid forced asset sales, supporting longer-term viability despite earnings volatility.
Read all positive factors
Ground Rents Income Fund (GRIO) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£16.26M
Dividend Yield6.93%
Average Volume (3M)14.40K
Price to Earnings (P/E)―
Beta (1Y)0.07
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees3
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)-0.21
Shares Outstanding95,667,625
10 Day Avg. Volume16,732
30 Day Avg. Volume14,398
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.48
Price to Sales (P/S)4.18
P/FCF Ratio58.25
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ground Rents Income Fund Business Overview & Revenue Model
Company Description
Ground Rents Income Fund plc is a closed-ended real estate investment trust, listed on The International Stock Exchange and traded on the SETSqx platform of the London Stock Exchange. Schroder Real Estate Investment Management Limited (the 'Manage...
Ground Rents Income Fund Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -1.70M | 5.95M | -26.96M | 1.16M | 5.60M | 5.69M |
| Gross Profit | -2.31M | 4.85M | -26.96M | 1.16M | 4.73M | 4.71M |
| EBITDA | -19.24M | 2.01M | 2.32M | -1.58M | -15.36M | 3.81M |
| Net Income | -19.83M | -4.32M | -29.71M | -1.12M | -7.52M | 1.19M |
Balance Sheet | ||||||
| Total Assets | 38.38M | 63.13M | 79.59M | 110.45M | 112.24M | 122.34M |
| Cash, Cash Equivalents and Short-Term Investments | 5.68M | 4.28M | 5.53M | 1.60M | 1.91M | 1.09M |
| Total Debt | 3.84M | 8.16M | 19.33M | 20.85M | 20.73M | 19.11M |
| Total Liabilities | 7.80M | 10.96M | 23.10M | 24.25M | 23.71M | 22.63M |
| Stockholders Equity | 30.58M | 52.17M | 56.49M | 86.20M | 88.52M | 99.71M |
Cash Flow | ||||||
| Free Cash Flow | 398.89K | 426.98K | 2.08M | 735.37K | 2.95M | 2.27M |
| Operating Cash Flow | 398.88K | 426.98K | 2.08M | 735.37K | 2.95M | 2.27M |
| Investing Cash Flow | 6.22M | 9.59M | 3.56M | 149.85K | 42.80K | 419.47K |
| Financing Cash Flow | -5.20M | -11.27M | -1.72M | -1.20M | -2.17M | -4.04M |
Ground Rents Income Fund Technical Analysis
Negative
17.50
Price Trends
17.24
Negative
17.36
Negative
18.85
Negative
Market Momentum
-0.10
Positive
28.25
Positive
44.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:GRIO, the sentiment is Negative. The current price of 17.5 is above the 20-day moving average (MA) of 17.30, above the 50-day MA of 17.24, and below the 200-day MA of 18.85, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 28.25 is Positive, neither overbought nor oversold. The STOCH value of 44.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:GRIO.
Ground Rents Income Fund Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | £161.85M | 16.27 | 5.76% | 7.84% | -3.39% | -59.21% | |
70 Outperform | £55.22M | 7.99 | 10.22% | 8.16% | 5.98% | 35.28% | |
67 Neutral | £396.92M | 7.74 | 10.24% | 7.39% | 9.07% | 21.13% | |
60 Neutral | £357.50M | 14.06 | 4.93% | 5.06% | -5.46% | -27.41% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
46 Neutral | £16.26M | -0.80 | -47.94% | 6.93% | ― | ― | |
43 Neutral | £6.68M | -2.04 | -16.03% | 395.05% | -100.00% | 92.36% |
* General Sector Average
GB:GRIO
Ground Rents Income Fund
17.00
-9.50
-35.85%
GB:AEWU
AEW UK REIT
102.00
5.14
5.31%
GB:CREI
Custodian REIT
81.20
5.68
7.52%
GB:API
Standard Life Investments Property Income
1.75
-0.11
-5.81%
GB:PCTN
Picton Property Income
70.00
-3.30
-4.51%
GB:AIRE
Alternative Income REIT Plc
68.60
3.68
5.66%
Ground Rents Income Fund Corporate Events
Business Operations and StrategyDividendsFinancial DisclosuresRegulatory Filings and Compliance
Ground Rents Income Fund Hit by Valuation Collapse Amid Leasehold Reforms
Negative
Jun 29, 2026
Ground Rents Income Fund reported a sharp deterioration in its interim results, with the unaudited portfolio valuation falling 42.3% to £29.5 million and net asset value dropping to £30.6 million, or 32.0 pence per share, largely due to ...
Business Operations and StrategyExecutive/Board Changes
Ground Rents Income Fund announces departure of two non-executive directors
Neutral
Jun 1, 2026
Ground Rents Income Fund plc has announced the resignation of non-executive directors Bill Holland and Katherine Innes Ker, effective 29 May 2026. The board credited both departing directors with steering the company through a period marked by sub...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.