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QuotedData’s other news 21 May 2019

  • Warehouse REIT (WHR) had a strong year to 31 March 2019. In it’s preliminary results announcement this morning, the company reported a 7,4% increase in EPRA NAV per share. The portfolio performed well as tenant demand remained strong despite current political and economic uncertainties, while supply of space remained constrained, with capital values generally below replacement cost. WHR has been busy growing its portfolio over recent months.
  • Schroder Real Estate Investment Trust (SREI), the actively managed UK-focused REIT, announced that it had exchanged unconditional contracts to sell a warehouse let to Booker Limited in Acton to an institutional purchaser for £18.8m. Based on the disposal price, SREI said that the asset generated an ungeared total return of 14.3% per annum since its acquisition in 2005, compared with the MSCI benchmark for the same period of 5.7% per annum.
  • Assura’s NAV rose by 1.7% over the year to the end of March 2019. Earnings per share were 8% higher and the dividend rose 7.9% to 2.65p. The company is in the process of buying another £142m worth of properties. The chairman said “As the Government continues to approve healthcare schemes, we continue to solidify our position as a partner of choice to the NHS and play a key role in providing high quality primary care facilities to reduce the pressure on the NHS.”
  • Big Yellow reported that its adjusted NAV rose 7% to 724.4p over the year to the end of March. Earnings per share were 8% higher at 41.4p and from this the company paid dividends of 33.2p. like-for-like revenue growth was 7%, helped by an increase in occupancy from 80.5% to 82.7% and an average rent per square foot increase of 2.9%.
  • Tritax EuroBox is placing new shares in the company at €1.1 per share, a 2% discount to the latest market price but a small premium to NAV. The management team says it has €660m worth of potential new investments lined up.

We also published a story on North Atlantic Smaller Companies’ preliminary results for the year-ending 31 January 2019 and Hipgnosis buying another catalogue

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