QuotedData’s morning briefing 2 November 2023 – BPCR, MNTN, PHP, AIRE, ESP

two hands cradle a coffee cup with a feathered patter on top, both rest on a newspaper, a pen and a pair of glasses are also on the paper

In QuotedData’s morning briefing 2 November 2023:

  • BioPharma Credit (BPCR) reports news of resignations at LumiraDX – Ron Zwanziger, (CEO and chairman), David Scott, PhD, (chief technology officer and director), and Jerry McAleer, PhD, (chief scientist and director) have all resigned, each citing the need “to preserve his flexibility to explore all available options” as the company looks for a viable long-term solution to the company’s financial difficulties. [Pharmakon, advisers to BioPharma Credit, have published this without comment and it is hard to know whether this makes it harder or easier to sort out LumiraDx’s problems – it feels more of a negative, however.]
  • Given the size of its discount (currently about 57%), Schiehallion (MNTN) will use up to $20m to fund share repurchases.
  • Primary Health Properties (PHP) has appointed Harry Hyman, founder and chief executive of the company, as chairman – subject to shareholder approval. Hyman will step down as chief executive at the company’s AGM on 24 April 2024 and be succeeded by Mark Davies. Should shareholders approve, he will then take the reins as non-executive chairman, succeeding Steven Owen.
  • Alternative Income REIT (AIRE) reported NAV down slightly (by 0.7%) to 83.6p in the quarter to 30 September 2023. Adjusted earnings was 1.5p (June 2023: 1.6p) fully covering its dividend for the quarter of 1.425p (5.7p annualised). The company has set a new dividend target of at least 5.9p for the year to 30 June 2024.
  • Empiric Student Property (ESP) has upped its dividend target by 27% for the 2023 financial year to 3.5p. This was on the back of anticipated EPRA earnings per share of 4.0p this financial year. Like-for-like growth in average weekly rents for the academic year 2023/24 is 10.5%, from 99% revenue occupancy. The company expects minimum like-for-like rental growth of 5.0% for the academic year 2024/25.

We also have results from Baillie Gifford Japan and Henderson International Income, plus an acquisition by Cordiant Digital Infrastructure and additional investments by Augmentum Fintech

Leave a Reply

Your email address will not be published. Required fields are marked *

Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.

You live in…

You are a…