In QuotedData’s morning briefing 8 May 2025:
- Apax Global Alpha says it will invest (on a look-through basis) about €14m as part of Apax XI’s plan to acquire Norva24, a leading provider of underground infrastructure maintenance services in Northern Europe, with market-leading positions in Norway, Denmark, Germany, and Sweden.
- Seraphim Space (SSIT) has published its latest monthly newsletter – you can read this here – [JC comment: There is a lot in the Seraphim letter as usual, but what caught my eye was the story that Astroscale US and Orbit Fab will launch a mission in 2026 aimed at refuelling a US Department of Defense Satellite. Given the cost of getting satellites into orbit, finding ways like this to keep them there longer rather than launching replacements makes a lot of sense.]
- Custodian Property Income REIT (CREI) has posted a 1.8% uplift in NAV to 96.1p per share over the quarter to 31 March 2025. The quarter’s NAV total return (with dividends of 1.5p) was 3.4%. The value of the company’s portfolio of 151 assets at the quarter end was £594.4m, a like-for-like increase of 1.2%. Over the 12 months to the end of March, the company’s portfolio valuation increased 2.2%. EPRA earnings for the quarter was 1.6 per share.
- Target Healthcare REIT (THRL) reported a marginal uplift in EPRA net tangible assets (NTA) of 0.3% to 113.0p over the first quarter of 2025. This was the ninth consecutive quarterly NAV uplift for the company. The company’s portfolio grew in value by 0.3% on a like-for-like basis to £930.0m. The NAV total return for the quarter was 1.6%, with dividends paid of 1.471p. This was fully covered by EPRA earnings of 1.472p. [RW comment: That is impressive given the state of the real estate market over that period, and testament to the fundamentals of the care home sector].
We also have:
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