In QuotedData’s morning briefing 8 February 2022, the big news is a planned merger between TwentyFour Income and UK Mortgages. However, we also have:
- Scottish Investment Trust (SCIN) says its portfolio has now been realigned with that of JPMorgan Global Growth and Income (JGGI), ahead of the merger of the two funds.
- Trading in Yew Grove REIT’s shares ceases this morning and shareholders will get their cash from the takeover by the 21st of this month.
- Urban Logistics REIT (SHED) has deployed or committed £68.1m of capital since its £250m equity raise in December. £39.5m of logistics assets have been acquired at a blended net initial yield of 5.0%. The group’s portfolio now consists of 110 last mile urban logistics assets. In a trading update, the company also says that 100% of rent for the prior quarter has been collected.
- Phoenix Spree Deutschland (PSDL) says it expects a NAV total return in the range of 7.5% and 8.6% for the year to 31 December 2021. This follows a 6.3% increase in the value of its portfolio on a like-for-like basis in the year to €801.5m. It says that based on the year-end portfolio valuation, and including the impact of share buybacks during the financial year (£17.7m worth at an average 16% discount to EPRA NAV as at 31 December 2021), it expects that the reported EPRA NAV per share as at 31 December 2021 will be between €5.60 and €5.66 (£4.70 – £4.75) (December 2020: €5.28 / £4.76). In Sterling terms, EPRA NAV per share total return is expected to be between 0.2% and 1.2%.
Plus we also have news of an acquisition by Round Hill Music and the sale of an investment by Riverstone Energy.