Third Point wants to narrow its discount with $200m buy back – Third Point Offshore Investors, the hedge fund managed by Daniel S. Loeb’s Third Point LLC wants to improve the persistent discount that the share price trades at relative to NAV. The board intends to: increase communication and active marketing of Third Point Offshore Investors to existing […]
Warehouse REIT invests in Cheshire – Warehouse REIT has exchanged contracts to acquire the Midpoint Estate, a multi-let estate of 20 high quality, individual warehouse units on 29 acres in a strategic location off the M6 motorway in Middlewich, Cheshire for GBP15.5 million, reflecting a net initial yield of 6.6 per cent. The Midpoint Estate […]
Aberdeen Frontier Markets hit by Pakistan weighting – In what the chairman describes as a particularly disappointing year, Aberdeen Frontier Markets returned -14.0% in NAV terms (NB all these figures are in US dollars) and -14.4% in share price terms against a positive 5.2% return from the MSCI Frontier Markets Index. The dividend was maintained […]
In QuotedData’s other news 26 September 2019: 3i Infrastructure has completed the purchase of cold storage company, Ionisos, that was announced in July Custodian REIT has extended a borrowing facility that was coming to the end of its life by three years and expanded it too. Lloyds Bank agreed to increase the total funds available under […]
In QuotedData’s other news 25 September 2019: Primary Healthcare Properties raised the £100m it was looking for in just a few hours – issuing 78.125m shares at 128p. All the directors put in more money. Augmentum converted its convertible investments in Tide into shares. The value of this position has risen by £4.2m as a result, […]
Manchester and London powers further ahead – Manchester and London Investment Trust delivered an NAV return of 9.8% over the year ended 31 July 2019. By contrast, its benchmark, the MSCI UK Investable Market Index, returned just 1.0%. The trust was 50% ahead of its benchmark over three years at 31 July 2019. The dividend […]
Shaftesbury upbeat despite wider retail woes – in a trading statement covering the period from 1 April to 24 September, Shaftesbury, the owner of 15.2 acres of property in London’s West End, said: West End remains busy and our food, beverage, leisure and retail occupiers continue, on average, to report year-on-year sales growth. Continued good […]
PRS REIT reports accelerating home completions – PRS REIT has published results covering the year ended 30 June 2019. Highlights are: 768 new rental homes added to the portfolio, taking the cumulative total to 1,173 at 30 June 2019 Annualised estimated rental income GBP10.7m (30 June 2018: GBP3.6m) a further 3,196 homes under construction across […]
Aberdeen Standard European Logistics sees strong demand – in its interim results statement published this morning, Aberdeen Standard European Logistic’s manager, Evert Castelein, says “The key drivers behind the demand for logistics space in Europe, such as e-commerce, remain strong. We have been able to build a high quality, well-diversified property portfolio with eleven investments […]
Fundraising news – JARA and Merian Chrysalis JPMorgan Global Core Real Assets (JARA), a new, Guernsey based, investment company investing in funds managed by JPMorgan Asset Management in infrastructure, property and transport assets, managed to raise almost £149m from investors, just shy of its £150m target. The opening NAV is projected to be 99.01p. The […]
