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QuotedData’s morning briefing 27 September 2022

In QuotedData’s morning briefing 27 September 2022:

  • North American Income Trust (NAIT) beat its benchmark over the six months ended 31 July 2022, returning 5.5% in NAV terms to the Russell 1000 Value Index’s 4.9%. The discount narrowed and that meant the return to shareholders was 8.6%. A dividend of 5p (up from 3.8p last year) has been funded from earnings of 6.1p.The largest contributors to returns among individual holdings were multinational pharmaceutical firm Bristol-Myers; gaming-focused REIT Gaming and Leisure Properties; and biopharmaceutical company Abbvie.
  • NB Private Equity Partners (NBPE) says that its 2022 Zero Dividend Preference Shares will be repaid on 30 September 2022. Shareholders of the 2022 ZDPs will receive a final capital entitlement of 126.74 pence per 2022 ZDP, based on a record date of 23 September 2022.
  • PRS REIT (PRSR) has provided a trading update ahead of full year results on 11 October 2022. It says that its unaudited NAV is expected to be no less than 116.0p per share, representing an increase of 11% and 17% over the six-month and 12-month periods respectively. The group’s portfolio of rented homes now stands at 4,841, with a current anticipated annual rent of £49.1m. It has a further 669 homes contracted with an estimated rental value per annum of £3.7m. It also reported a 5.1% like-for-like average rental growth over the year on stabilised sites across both existing tenant renewals and re-lets to new tenants. Rental growth on lettings to new tenants at new sites was around 10%.
  • Greencoat Renewables (GRP) is convening a shareholder meeting to ask investors if it can drop the percentage limits on the value of investments that it is permitted or required to make in wind energy assets or solar PV assets in Ireland and in other relevant countries. The idea is to support the company’s continued diversification in Europe.
  • The closing date for applications under Welkin China Private Equity’s IPO has been extended to end October.

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