In QuotedData’s morning briefing 31 July 2024:

• LMS Capital (LMS) announced its interim results for the six months to 30 June 2024. During the period, the NAV return was -13%. Chairman, James Wilson, commented: “The changes to Dacian, whilst resulting in a write down now, we believe have put Dacian on a sound footing going forward. The result at Brockton is disappointing and has contributed to an overall poor performance. We do however continue to see and explore opportunities in the retirement living sector which we believe would be accretive to value for shareholders. We acknowledge the need to be able to demonstrate clear progress in the coming months.”
• Shaftesbury Capital (SHC) posted a 1.6% uplift in EPRA NTA to 193.4 pence per share in the six months to 30 June 2024. Its portfolio of West End property increased in value by 1.4% over the period to £4.8bn, driven by 3.2% ERV growth. It completed 217 leasing transactions, representing £28.1m of rent, achieving 7% uplifts on ERV and 16% ahead of previous passing rents. Underlying earnings was up to 1.9 pence per share (Dec 2023: 1.8 pence) covering an interim dividend of 1.7 pence per share. Loan-to-value was stable at 30%.
• Schroder REIT (SREI) reported a 0.5% increase in NAV to 59.1 pence per share in the quarter to 30 June 2024, driven by a 0.3% increase in the value of its underlying portfolio. A quarterly dividend of 0.853 pence was 103% covered by recurring earnings. Net loan to value was 36.9% (31 March 2024: 37.1%).
• Picton Property (PCTN) reported a stable NAV over the quarter to the end of June, at 96.0 pence per share (31 March 2024: 96.1 pence). Its portfolio increased in value by 0.4% on a like-for-like basis, with the industrial, warehouse and logistics assets showing most resilience. A dividend of 0.925 pence per share was declared for the period, 102% covered by earnings in the quarter.