In QuotedData’s morning briefing 18 March 2025:
- Tufton Assets (SHIP) announced its interim results for the six month period ended 31 December 2024. The company delivered a NAV total return of 6% with dividends paid during the period of US$14.0m, at an average 12 month yield of 5.9%. The share price was flat. On average, the company’s shares traded at a 19% discount to NAV. During the period, the company bought back 1,500,000 shares at an average price of US$1.20 per share, while also returning US$31.5m to shareholders in August via a compulsory capital redemption. Chairman Rob King commented: “2025 looks set to have several geopolitical avenues for disruptive change. Disruption of traditional trade patterns often plays out to the benefit of shipping in terms of effect on tonne-mile trade demand growth. Nevertheless, the industry (like most others) also remains dependent on global GDP and trade growth. The board and investment manager continue to monitor geopolitical developments.”
- Schroder European REIT (SERE) reported a 1.8% fall in NAV to 120.5 euro cents per share over the quarter to 31 December 2024. With dividends included, the NAV total return for the period was -0.6%. The interim dividend of 1.48 euro cents per share was 100% covered by EPRA earnings. The company’s property portfolio was valued at €206.2m, reflecting a like-for-like decrease over the quarter of 0.9%.
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