LondonMetric Property has sold seven properties in separate transactions for £31.3m, reflecting a blended NIY of 7.0% and a 3% profit over prevailing book values. They include £18.3m of non-core LXi REIT assets, which have been sold at 5% ahead of prevailing book values. The sales comprise: A 106,000 sq ft Asda foodstore in Scotland […]
In QuotedData’s morning briefing 30 May 2024: JZ Capital (JZCP) is calling a meeting of shareholders to ask them to make the company’s ordinary shares redeemable. That will help expedite returns of capital as the company continues its managed wind down. Separately, it announced results that showed its NAV was not much changed over the […]
Home REIT says that it has reached an agreement with Big Help (a collection of tenants comprising; Big Help Homes CIC, Big Help Project Ltd, CG Community Council, Dovecot & Princess Drive Community Association, N-Trust Homes CIC and Select Social Housing CIC) for the surrender of its leases on over 600 properties which it leases […]
Aberforth Geared Value and Income Trust has published its prospectus. This could be the first major new trust in years, the big questions are, how much money will roll over from Aberforth Split Level Income Trust (ASIT) and how much new money will the trust attract? The new trust will have a fixed seven-year life. […]
Over the 12 months ended 31 March 2024, Shires Income generated an NAV return of 5.1% and a share price return of -5.5% (as the discount widened to 13.3%), both behind the 8.4% return delivered by the company’s All-Share Index benchmark. The chairman suggests that “the performance for the year is in line with what […]
Over the 12 months ended 31 March 2024, Scottish Mortgage returned 11.5% in NAV terms and 32.5% in share price terms, driven by a narrowing discount. It says that these figures compare to a 21.0% return on the FTSE All-World Index. The main driver of the narrowing discount from 19.6% to 4.5% was the announcement […]
In QuotedData’s morning briefing 23 May 2024: Blackstone Loan Financing (BGLF) will hand back €23m to its shareholders by way of a compulsory partial redemption of up to 24,779,142 shares on 10 June 2024. On this basis, a holder of 10,000 shares will have 559 shares redeemed, and receive €518.86 in cash. Crystal Amber (CRS) […]
Odyssean Investment Trust (OIT) was launched on 1 May 2018. At the time, the board said it would offer shareholders the opportunity to cash in their investment at NAV (less costs) during the trust’s seventh year and every seventh year thereafter. The exact timing of the realisation is up to the board (in consultation with […]
Pantheon International has published details of its capital allocation policy (CAP). This is the second step of the company’s three-step programme of shareholder-focused corporate strategy, following the £200m buyback that kicked off last sumer and is now almost complete. As at 15 May 2024, £189.6m had been invested in share repurchases, adding about 4.5% to […]
In QuotedData’s morning briefing 16 May 2024: Polar Capital Global Healthcare (PCGH) says that at end March 2024, its six-month NAV returns were seven percentage points better than its benchmark’s (16.55% versus 9.56% for MSCI ACWI/Healthcare Index). The manager says that this was driven by strong stock selection across the entire market capitalisation range and […]
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