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QuotedData’s morning briefing 30 November 2023 – RC2, CTUK, LXI

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In QuotedData’s morning briefing 30 November 2023:

  • Following the passing of a resolution at its AGM yesterday, Reconstruction Capital II (RC2) will have its last day of dealings on AIM on 18 December 2023.
  • CT UK Capital and Income (CTUK) published results for the 12 months ended 30 September 2023 that show it just failing to match its All-Share Index benchmark (returning 13.1% to the index’s 13.8%) and experiencing a modest widening of its discount (despite buying back 2.5m shares) leaving shareholders with a return of 10.9%. At 12.15p, the total annual dividend was up 3% on the previous year (marking the 30th year in a row of dividend increases) and was well covered by earnings of 13.26p.
  • LXI REIT (LXI) reported a 5.8% decline in EPRA net tangible assets (NTA) to 114.1p per share in the six onths to 30 September 2023. The group’s portfolio of long income assets fell in value by 4.1% on a like-for-like basis to just under £3.2bn. EPRA earnings per share was up 12.1% to 4.07p, which comfortably covered its dividend for the period of 3.3p. EPRA cost ratio was down 5.5 percentage points to 7.1% (one of the lowest in the sector) as the benefits of the merger with Secure Income REIT come through.

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