In QuotedData’s morning briefing 8 February 2022:
- Civitas Social Housing (CSH) reported a fall in NAV of 3.4% to 110.93p per share in the quarter to 31 December 2022. This was due to an 18 basis points (0.18%) outward shift in the net initial yield of its portfolio and the effects of the mark-to-market valuations of the company’s financial swaps and caps (implemented to negate the effects of rising interest rates). The company declared a quarterly dividend of 1.425p per share, in line with its dividend target of at least 5.70p for the year ended 31 March 2023 (2022: 5.55p).
- Custodian Property Income REIT (CREI) saw its NAV fall 12.2% to 99.8p per share in the quarter to 31 December 2022, due to a 9.1% decrease in the like-for-like value of its portfolio. EPRA earnings were up 7% to 1.5p per share, mainly due to £18m of net investment into acquisitions during the previous quarter and recent positive asset management outcomes. 10 new lease agreements were signed across a range of property sectors at an aggregate 7% ahead of ERV, adding £1.2m of annual rent for a weighted average of 7.3 years to first break. Occupancy improved to 89.9% (30 September 2022: 89.3%) due to letting five vacant properties. A dividend of 1.375p was approved for the quarter, in line with a target dividend of no less than 5.5p for the current financial year, fully covered by EPRA earnings (102% year to date).
We also have:
- Chrysalis’s purchase of a £20m stake in Starling from Jupiter for £20m.
- DP Aircraft 1’s rejig of its relationship with Thai Airways