GR1T

Grit Real Estate Income Group Limited

Real Estate First-pass screen £32m

380/1000 Overall fit

AI beneficiary 35% 25

Operating leverage 25% 40

Valuation 25% 45

Downside protection 15% 52

First-pass take

Pan-African real estate REIT with zero AI exposure, modest operating leverage, and tight dividend coverage (1.13x). Trading 55% below EPRA NAV; recent equity dilution at US$52cps now trading ~US$35cps suggests valuation mispricing or market concern.

Flags

no-ai-exposurereitemerging-marketshigh-payout-rationet-debtequity-dilutionrecovering-from-covid