In QuotedData’s morning briefing 2 December 2022:
- Cordiant Digital Infrastructure (CORD) has announced that Steven Marshall, co-head and chairman of the company, has purchased 709,000 CORD ordinary shares at 89.47p per share. Following this purchase, Mr Marshall owns a total of 4,000,000 ordinary shares and the number of ordinary shares held by the Investment Manager (either directly or by its staff) now represents 0.72% of CORD’s issued share capital.
- Bellevue Healthcare Trust (BBH) has announced that it has received valid redemption requests for 30,577,550 ordinary shares at its 30 November 2022 redemption point, all of which will be redeemed and cancelled by the company at a price of 164.34 pence per share. BBH expects to despatch payments around 14 December 2022.
- Marble Point Loan Financing (MPLF) has announced that its investment manager, Marble Point Credit Management LLC, has agreed to be acquired by Investcorp, which it describes as a leading global alternative investment firm. The transaction is subject to customary regulatory requirements and closing conditions. It is expected to close in the first quarter of 2023.
- In half-year results Industrial REIT (MLI) has posted a 7.4% decrease in EPRA NTA per share to £1.62 (31 March 2022: £1.75), following a 4.3% fall in the value of its portfolio to £656.5m (31 March 2022: £685.8m), reflecting yield softening in the period. Operationally, the period was successful with the company completing 197 letting transactions, at a 29% increase in passing rent on average (the highest growth rate achieved to date and the eighth consecutive quarter of 20%+ growth. This resulted in a 4.0% growth in like-for-like annual passing rent across the whole portfolio. Earnings per share was up 2.6% to 3.54p (2021: 3.45p), covering a dividend of 3.5p (2021: 3.375p). The portfolio’s estimated rental value (ERV) increased 12.3%, demonstrating the further potential for future rental growth. The company’s LTV was 26.5% with no refinancing until 2025 and 90% of debt at fixed rates or hedged against rising interest rates until November 2024.
We also have an update from US Solar on key personnel changes at its investment manager.