In QuotedData’s morning briefing 13 March 2024:
- Asian Energy Impact Trust (AEIT) has released its NAV for the period ending 31 December 2023. It reported a NAV per share of 48.5 cents per share, down from 50.4 cents as of 30 September 2023. This is represents a total NAV of $85.0m. NAV movements are attributed to a $0.2m increase in the underlying portfolio valuations offset by costs of $2.9m incurred in the quarter and $0.8m of dividends paid to shareholders.
- Utilico Emerging Markets Trust (UEM) has announced that it has repaid all outstanding amounts under its £50m revolving credit facility. It is in discussions to replace the current facility.
- Seraphim Space Investment Trust (SSIT) has released its interim results today, which includes an updated NAV, as of 31 December 2023. SSIT has reported a NAV per share of 94.57p, up from the 92.90p it reported for 30 June 2023, and a total NAV of £224.3m for the trust. Its portfolio valuation increased by £10.6m to £198.0m, driven by additional investments, unrealised fair value net gains and a small unrealised FX gain. SSIT also notes that under current projections, a number of its holdings are expected to achieve profitability over 2024, at an EBITDA level.
- Supermarket Income REIT (SUPR) posted a 5.4% fall in EPRA net tangible assets (NTA) to 88p per share in half year results to 31 December 2023. The company’s portfolio fell in value by 3.2% to £1.68bn, after a 20 basis point (0.2%) outward movement in net initial yield to 5.8%. Adjusted earnings per share was stable at 2.9p, not quite covering its dividend for the period of 3p. The group’s loan to value (LTV) reduced to 33% (from 37%), with 100% of the drawn debt fixed or hedged at an average cost of 3.1%.
- Custodian Property Income REIT (CREI) has amended the management arrangements for its potential merger with abrdn Property Income Trust (API) in a bid to get the deal over the line. Custodian Capital (CREI’s manager) will swallow the cost involved in the merger, waiving the one-off project fee (equal to £350,000 if it goes through and £75,000 if it does not become effective).