In QuotedData’s morning briefing 8 August 2024:

• Ashoka India Equity (AIE) has reminded shareholders that its annual voluntary redemption – where shareholders can, if they choose, cash in their shares at NAV – will happen at the end of September. If you want to take part, redemption requests need to be in by 5 September and cash will be handed out on 14 October. However, with the shares trading at around asset value or a small premium, it would be easier and possibly more lucrative to sell in the market currently.
• Foresight Solar (FSFL) says it will increase the size of its share buyback programme by £10m to £50m. Over £35m worth of shares have been bought back at a discount since May 2023. This has added 1.9p to the NAV. Separately, it says that the wet weather in the UK contributed to output from its solar plants being 4.3% below budget for the six months ended 30 June 2024. Uplanned network outages and a small number of inverter issues also played a part in this.
• Allianz Technology (ATT) discusses the possibility of a bubble in AI-related stocks in its half-year update, saying: “The question then becomes, have things gone too far? Proponents will be unable to accept an ill word against the burgeoning technology. Naysayers will call ‘bubble’ and hark back to the ‘dot-com’ era. The truth of course lies somewhere in between the two extremes and underscores the need for the type of careful assessment of a company’s fundamental characteristics”.
• Impact Healthcare REIT (IHR) posted a 2.6% uplift in EPRA net tangible assets (NTA) to 117.98p for the six months to 30 June 2024. Inflation-linked rent increases and stable yields drove a 2.9% increase in like-for-like investment property value to £670.1m. NAV total return for the period was 5.5%. Its dividend for the period of 1.7375p (which was 2.7% up on last year) was 122% covered by earnings. Loan-to-value was stable at 27.8%, with drawn debt of £189.8m.
• Regional REIT (RGL) has repaid in full the £50m retail bond, which matured on 6 August 2024 using the proceeds of its £110.5m rights issue. Following the repayment of the bond, the company’s borrowings reduce to £353.3m, with a weighted average cost of capital of 3.4%. An additional £26m from the capital raising proceeds will be used to reduce bank facilities further, which will result in the LTV decreasing to 41% from 57% prior to the fund raising.
• Alternative Income REIT (AIRE) reported a slight uplift in NAV of 0.4% to 80.9p over the quarter to 30 June 2024. The value of its portfolio of 19 long-leased properties was stable at £102.7m. EPRA earnings per share was up 6.7% to 1.6p, while it paid a dividend of 1.625p (up 14% on the previous quarter).
• Custodian Property Income REIT (CREI) posted a NAV total return of 1.6% for the quarter to 30 June 2024. NAV was marginally down to 93.1p per share (31 Mar 2024: 93.4p), with the valuation of its portfolio stable at £579.6m. The company’s 1.5p quarterly dividend was covered by EPRA earnings of 1.5p.

We also have:

Another HOME REIT tenant goes into administration

Assura to buy £500m private hospital portfolio