In QuotedData’s morning briefing 11 March 2025:
- Ecofin U.S. Renewables Infrastructure Trust (RNEW) announced the completion of the disposal of its DG Portfolio was completed on 10 March 2025. The disposal is the first sale to be signed and completed as part of the managed wind-down. The net proceeds of the disposal (after deduction of estimated tax liabilities and other costs expected to be paid out of the proceeds of the disposal) are expected to be approximately US$33.5m.
- Literacy Capital (BOOK) announced that it has made an investment into Trinitatum, a provider of test automation software and related services within the energy and financial trading markets. Trinitatum was founded in 2013 and has spent ten years developing and refining its proprietary software, Triangle, to optimise its test automation solutions, which integrate with customers’ platforms. Its suite of products are complemented by a high-quality service offering. As a result, the company has developed strong relationships with a loyal blue-chip customer base and built an excellent reputation for providing high-quality test solutions.
- Supermarket Income REIT (SUPR) posted a slight uplift in EPRA net tangible assets (NTA) to 88p over the six months to 31 December 2024 (from 87p). This was helped by a 0.5% uplift in the value of its portfolio over the period to £1.8bn. Adjusted earnings increased to 3.0p per share following earnings enhancing acquisitions in the period. The company said that it was on track to deliver its full-year 2025 dividend target of 6.12p.
- Sirius Real Estate (SRE) has disposed of its BizSpace Tyseley Business Park in Birmingham for £6.7m, reflecting a 20% premium to book value. SRE acquired the asset as part of the BizSpace acquisition in November 2021 for £5.1m and successfully increased the rent roll of the site by 30%, through the capture of under-rent, which contributed to a 31% increase in average rate per sq ft from £7.39 to £9.69. The 134,000 sq ft business park comprises 125,000 sq ft of industrial space and 9,000 sq ft by way of an office building. Significant future capex investment was required in order to maintain the buildings, which the company felt could be better spent elsewhere in the portfolio.
- Octopus Renewables Infrastructure Trust (ORIT) has provided an update to its capital allocation programme, announcing an extension of its share buyback programme by an additional £20m – equivalent to approximately 6% of market capitalisation. The company also announced it would aim to bring total gearing down to below 40% of gross asset value by the end of 2025 (currently 45%) by reducing company debt by approximately £50m, and that it will realise at least £80m from asset sales by the end of this financial year to fund the above, together with making selected accretive investments, as part of the ongoing capital recycling programme.
We also have:
Positive 2024 in the bag as Mobius Investment Trust looks to future
Stories you may have missed from Monday:
Primary Health Properties still “sees considerable merit” in working with Assura
GPE lets 11,500 sq ft of fully managed office to Next in Fitzrovia
Warehouse REIT secures 375,000 sq ft lease renewal at Midpoint 18
HydrogenOne Capital Growth’s Elcogen announces SYRIUS Project in green steel
