European Trust results show why it moved manager – European Trust, which recently appointed Baillie Gifford as its manager, has just published results covering the year ended 30 September 2019. They make for grim reading – over the period the trust returned -4.6% in NAV terms and -7.6% in share price terms. This compares to […]
JZ Capital focused on debt reduction – JZ Capital Partners has now published its interim results, covering the six months ended 31 August 2019. The results had been delayed while the board secured a new valuation of its property portfolio. The company warned that it might have to take $50m-$150m off the valuation of its […]
JLEN Environmental scope for further diversification – at 30 September 2019, JLEN Environmental’s NAV stood at 104.7p per share, unchanged from the value at the end of March. Within the portfolio, things seem to be on the right track but positive developments were offset by lower energy price forecasts. The dividend target has been met, […]
Perpetual disappointment calls for new initiatives – The interim statement covering the six months ended 30 September 2019 for Perpetual Income & Growth marks another period of poor performance for the trust. Over the period, it returned -1.2% in NAV terms and -1.0% in share price terms, against +4.6% for the All-Share Index. One bit […]
In QuotedData’s other news 20 November 2019 Hansteen has bought seven multi-let industrial estates on the Newton Aycliffe industrial park in County Durham for £12m. The portfolio comprises 53 units totalling 341,620 sq ft, with individual units ranging in size from 820 sq ft to 32,648 sq ft. The contracted rental income is GBP1,094,000 a year (GBP3.55 […]
Partial collapse at Hadrian’s Wall – on 2 October 2019, Hadrian’s Wall Secured Investments acknowledged that it was experiencing problems with its loans to Biomass Premium Fuels Limited and Biomass Optimum Fuels Limited. Biomass Premium Fuels has been trying to agree a joint venture or partnership with another party. Unfortunately, after exploring a number of […]
Grit Real Estate investing more in Botswana – Grit Real Estate Income is buying an additional 22.75% stake in Botswanan real estate company, Letlole La Rona Limited for US$ 13.8m (to be settled by issuing new ordinary shares in Grit). The vendor is Botswana Development Corporation Limited, a development finance institution founded in 1970, with the […]
Good returns help Henderson Far East grow – over the year ended 31 August 2019, Henderson Far East Income returned 6.5% in NAV terms and 7.6% in share price terms, both well-ahead of comparative indices and the AIC’s Asia Pacific Income peer group average. The dividend was upped by 3.7% to 22.4p,an amount that was […]
Hammerson sells Gloucester retail park – Hammerson has exchanged contracts on the sale of St Oswald’s Retail Park, Gloucester, to a local authority for GBP54m. The sale price reflects a net initial yield of 8.5%, and is 8% below the 30 June 2019 book value. The 20,900 square metre scheme, which is located to the north […]
Standard Life Property Income sells Denby logistics unit – Standard Life Investments Property Income Trust has sold its second largest investment, a logistics unit close to Derby, for GBP19.1m. The property was let until 2025 and the rental income represented 4.4% of the company’s income. The sale price was at the September valuation, and reflected a […]
