QuotedData’s morning briefing 24 July 2024 – UKW, GRI, PHP

In QuotedData’s morning briefing 24 July 2024:

• Greencoat UK Wind (UKW) announced its interim report for the six months to 30 June 2024. The company saw a NAV total return of -2.9% and a share price total return of -4%. The company declared total dividends of 5 pence per share with respect to the period and paid an additional £29m of dividends with respect to 2023. It also bought back 32m of its own shares at an average cost of 140 pence per share. As of publishing, UKW had a discount of 9.7%.
• Grainger (GRI) has acquired a 135-home build-to-rent scheme within its Manchester cluster for £31m from M&G Real Estate. The Astley is located in Manchester’s Northern Quarter and adds to Grainger’s existing cluster of c.1,700 rental homes in the region. The acquisition was supported by Grainger’s ongoing asset recycling programme, following a £27m sale in London.
• Primary Health Properties (PHP) reported a 2.8% fall in adjusted Net Tangible Assets (NTA) per share to 105.0p in the six months to 30 June 2024. Its portfolio of primary care properties declined 1.4% in value to £2.75bn reflecting a net initial yield of 5.18% (31 December 2023: 5.05%). Adjusted earnings per share was up 2.9% to 3.5p (30 June 2023: 3.4p), fully covering its dividend for the period of 3.45p (6.9p annualised).

We also have updates from Herald and Oakley Capital Investments.