- Vietnam Enterprise Investments (VEIL) announced an update for Q2. NAV increased 4.6% over the period against a rise of 5.2% for its reference index, the Vietnam Index. In H1 2023, VEIL’s NAV increased 10.3% against a rise of 12.2% for the VNI. All in total return US dollar terms.
- Alternative Income REIT (AIRE) announced that it has completed the sale of the Mercure City Hotel, Ingram Street, Glasgow, for a total consideration of £7.5m to the current tenant S Hotels & Resorts. This property represented 6.5% of the Group’s portfolio at 30 June 2023. The disposal represents a 7.9% premium (approximately £550,000) on the book value at 30 June 2023 and a net exit yield of 8.9%.
- Life Science REIT (LABS) announced the letting of 10,765 sq. ft. across two units at the Innovation Quarter at Oxford Technology Park to Oxford Gene Technology IP Limited, a leading provider of clinical research and diagnostic solutions. It will pay an annual rent of £220,000, equating to c. £20.40 psf for a 10 year term, with a break clause and rent review at the end of the fifth year. The space will be hybrid office and laboratory space and is let in shell condition for the occupier to fit out.
- Impact Healthcare REIT (IHR) announced its half year results for the six months ended 30 June 2023. The company delivered a second quarter dividend of 1.6925p, in line with the 3.5% increase targeted for this year of 6.77 pence per share. This dividend is 122% covered by EPRA EPS and 109% by adjusted EPS. Total accounting return for the period to 30 June 2023 was 6.17% (six months only).
- abrdn Property Income Trust (API) provided an update for the period ended June 30 2023. NAV per share was 83.8p (Mar 2023 – 82.4p), an increase of 1.7% for Q2 2023, resulting in a NAV total return, including dividends, of 2.96% for the quarter. The portfolio valuation increased by 0.4% on a like for like basis during the quarter, while the MSCI Quarterly Index fell by 0.8% over the same period.
- Foresight Solar (FSFL) announced a trading update for Q2. NAV fell 4% over the period, impacted by lower short term power prices. Despite this, operational performance during the period remained solid, with electricity production 2.8% above budget, leading to cash receipts from subsidiaries of £52.3 million, 42% higher than in H1 2022. Robust levels of contracted revenue support a dividend cover of at least 1.5x for the next three years.
We also have an update from Tritax Euro Box