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QuotedData’s morning briefing 5 November 2020

In QuotedData’s morning briefing 5 November 2020, as it looks as though Joe Biden is on his way to the White House:

  • JPMorgan Emerging Markets reminds us that, if shareholders approve at today’s AGM, its shares will be split on a 10 for one basis from tomorrow morning. Shareholders should note that this should not change the value of the shares you hold, just make it easier to deal in them.
  • LXI REIT has sold its BCA facility (think big car park) in Corby for £68m, reflecting a low exit yield of 4.45%, to a UK pension fund. Completion will occur on 30 November 2020. The sale price represents an 11% premium to the latest book value and means that the trust has made an IRR of 14% on this investment.
  • Triple Point Social Housing collected 100% of its Q3 rent [underscoring the relative attractions of social housing as an asset class] and reports a 0.7% increase in its end September NAV to 106.1p. A 1.295p dividend has been declared and the company says it is on track to pay 5.18p for 2020 as a whole.
  • GCP Student Living’s NAV was flat over the third quarter of 2020. Its rooms are 69% booked for the current academic year and those are 86% occupied. They say they are on track to collect 62% of budgeted income for the 2020/21 academic year. At Scape Shoreditch, rents from WeWork are more than £2m in arrears and it has informed the company that it wishes to exit the lease immediately. The company is seeking legal advice. GCP Student Living’s quarterly dividend is set at 0.25p, a level that will be reviewed as the financial year progresses.

We also have results from Fidelity Special Values, RDI REIT and Aberdeen Latin American Income

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