Edison Initiates Coverage on Globalworth Real Estate Investments

Jul 23, 2015, 08:52 ET from Edison Investment Research

LONDON, July 23, 2015 /PRNewswire/ --

Edison Investment Research, a leading international investment research firm, announces the initiation of full coverage of Globalworth Real Estate Investments 

Highlights of the analysis on Globalworth Real Estate Investment by Edison's financial analyst Martyn King include:

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Globalworth Real Estate Investments is incorporated in Guernsey and listed on the AIM market of the London Stock Exchange. It is a real estate investment company focused on opportunities in South-East Europe and the CEE, but primarily Romania, which accounts for the entire current portfolio.

GWI is trading at a 44% discount to our forecast FY17 EPRA NAV, capturing the expected valuation uplift from the completion of current developments, with a forecast 5% yield. Although not shown in our forecasts, if the portfolio NOI yield used in the external valuation were to decline from 7.71% to 7.0% (Warsaw and Prague c 6.0%), FY17e NAV would increase by 18%. Our detailed analysis explores the potential for additional valuation gains, as well as the possible dilutive impacts of warrant conversions and equity-raising.

To download this report, please click here.

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About Edison: Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support their capital markets activities. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority (http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584).

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For more information please contact:
Martyn King
Edison Investment Research

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SOURCE Edison Investment Research