QuotedData’s morning briefing 14 May 2024 – AEI, BSIF, AEET, AEWU

In QuotedData’s morning briefing 14 May 2024:

  • abrdn Equity Income Trust (AEI) announced its interim results for the six months to 31 March 2024. During the period, the company delivered a NAV total return of 1.6% compared to the total return of the FTSE All-Share Index of 6.9%. The share price total return was -8.2%. As an asset class, UK equities struggled to keep up with other major equity markets, notably US equities.
  • Bluefield Solar Income Fund (BSIF) released an update for the three months to 31 March 2024. The NAV total return for the period was 0.07%. Notably, the company launched its buyback programme during the quarter while also completing phase one of its strategic partnership with GLIL Infrastructure. This included an investment of £20m alongside £200 million from GLIL, to fund the acquisition of a 247MW portfolio of UK solar assets.
  • Aquila Energy Efficiency Trust  (AEET) announced the results of its tender offer. In aggregate, the company repurchased 18,561,732 ordinary shares, equal to 18.6% of its issued share capital . All successfully tendered ordinary shares have been acquired at the tender price of 94.28 pence per ordinary share.
  • AEW UK REIT (AEWU) reported a 0.8% drop in NAV to 102.73 pence per share in the quarter to 31 March 2024. The company’s portfolio increased in value by 0.4% to £210.7m. EPRA earnings per share for the quarter was 1.88 pence, not quite covering the dividend of 2.00 pence. LTV was 26.2%, with the debt benefiting from a low fixed cost of 2.959%.

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