Here’s an anomaly – a UK REIT trading at net asset value (NAV). Having endured a miserable three years of high interest rates and persistent inflation, there have been very few listed property companies whose shares have rated close to par in that time. Even fewer have traded at a premium and been able to […]
The average real estate share price was flat in September, a welcome respite after a couple of bruising months of losses, although persistent inflation and high gilt yields continue to cloud the outlook. There were some big winners and losers in the month. Best performing funds in price terms (%) PRS REIT 11.5 Alternative […]
Private equity giant Kohlberg Kravis Roberts & Co (KKR) is in discussions with PRS REIT over a potential offer for the company. The board of PRS REIT this morning confirmed media reports about the talks with KKR, stating that the US company was “participating in the company’s strategic review and formal sale process”. However, it […]
A welcome base rate cut in August did little to prevent another mauling in the real estate sector, with an average 3.7% share price fall over the month. Gilt yields, and the five-year swap rate that is closely followed by the sector, widened on persistent inflation and rising public debt. Consequently, just a handful of […]
Polar Capital Technology Trust’s (PCT’s) recent strong performance, in an increasingly volatile sector that is being reshaped at breakneck speed by artificial intelligence (AI), reinforces the value of its conviction-led, actively managed strategy. For the 12 months to 31 July, PCT’s net asset value (NAV) rose 30.2%, well ahead of the 20.5% gain from its […]
It is approaching three years since the launch of the first ChatGPT model, commencing a period of tech domination of global markets. As more and more artificial intelligence (AI) models have since launched and the pace of innovation continues to grow, it has become clear that a new world order in AI is forming. At […]
A good number of real estate investment trusts made headway in July despite mounting macroeconomic uncertainty weighing on the sector which, after a strong first half of the year, was down 2.6% on average. Best performing real estate shares (%) Sirius Real Estate 6.8 International Workplace Group 6.0 Value & Indexed Property Income Trust […]
At a time when real estate fortunes are turning positive, the UK REIT sector offers slim pickings to attentive investors. Three years battling wide discounts to NAV and pulsating merger and acquisitions (M&A) activity has seen the number of listed real estate stocks almost halve. Mid-way through 2022, when the impact of soaring inflation and […]
The boards of Tritax Big Box REIT (BBOX) and Warehouse REIT have reached agreement on the terms of a recommended cash and share offer, in which BBOX will acquire Warehouse REIT – trumping the current Blackstone offer. Under the terms of the acquisition, each Warehouse REIT share will be entitled to receive 0.4236 new BBOX […]
The board of Assura has recommended the offer for the company from Primary Health Properties (PHP), switching from its previous recommendation for the KKR/Stonepeak bid. Under the terms of the increased PHP offer, Assura shareholders would receive 0.3865 new PHP shares and 12.5p in cash. In addition, Assura shareholders would receive a special dividend of […]
