In QuotedData’s morning briefing 7 November 2024:
- JZ Capital Partners (JZCP) announced its interim results for the period ended 31 August 2024. The company delivered a NAV per share return of 2%. Total realisation and distribution proceeds were $44.2m following the successful realisations of Karium and My Lender and, post-period, amongst other smaller realisations, the realisation of Deflecto. The US and European micro-cap portfolios showed small gains for the six-month period, delivering a net increase of six cents and five cents per share, respectively. The company continues to work towards further realisations in both portfolios.
- Hammerson (HMSO) has completed the acquisition of the remaining 50% stake in Westquay shopping centre for £135m. The consideration was funded by the proceeds received from Hammerson’s recent disposal of its stake in Value Retail.
- abrdn Property Income Trust (API) reported a 11.3% drop in NAV to 65.0p in the quarter to 30 September 2024 (Jun 2024: 73.3p), mainly reflecting the realisable value of the property portfolio associated with the sale of the company’s portfolio to GoldenTree Asset Management. On a like-for-like basis, the company saw a fall in the value of the portfolio of 1.5% over the quarter with valuation declines in the office and retail sectors. The cash consideration for the purchase of the portfolio of assets of £351m, represents a 6.7% discount to the September valuation.
- Custodian Property Income REIT (CREI) posted a 0.4% uplift in NAV to 93.5p for the quarter to 30 September 2024. With dividends, this reflects a NAV total return of 2.0% over the three months. Having remained flat during the last two quarters, the value of the company’s portfolio was up 0.5% to £582.4m.
We also have annual results from Henderson Far East Income and Fidelity Special Values.