Urban Logistics REIT reported a slight drop in EPRA net tangible assets (NTA) of 1.3% to 160.27p in annual results to 31 March 2024. The value of the company’s portfolio of mid-box urban logistics assets was stable over the 12 months falling just 0.3% on a like-for-like basis to £1.1bn. Net rental income was up […]
In QuotedData’s morning briefing 19 June 2024: Schroder European REIT (SERE) posted a 3.6% fall in NAV to 123.6 euro cents per share in the six months to 31 March 2024. The group’s property portfolio valuation declined 3.1% to €208.1m. Underlying EPRA earnings increased 3% to €4.3m on the prior six month’s EPRA earnings of […]
Home REIT will look to sell more of its portfolio after failing to secure refinancing of its debt. The company said that extensive discussions with a potential lender to refinance its debt facility with Scottish Widows (currently £131.8m) have fallen through. It said: “The board has now concluded that it will not be able to […]
Custodian Property Income REIT said that property valuations had stabilised in its portfolio in the final quarter of its financial year to 31 March 2024. Its portfolio fell in value by 4.0% on a like-for-like basis across the year to £589.1m but was flat in the first three months of 2024, which it said suggests […]
In QuotedData’s morning briefing 12 June 2024: Special Opportunities REIT (SOR) has pulled its proposed IPO after falling short of its target fundraise. The company had targeted a £500m raise to acquire commercial property at distressed prices. It had lined up three cornerstone investors for up to £114m, but still fell short of its minimum […]
TR Property posted a 15.2% increase in net asset value (NAV) to 351.1p in the year to 31 March 2024, helped by a number of its portfolio companies being the subject of merger and acquisitions (M&A). Key highlights included: TRY reported a NAV total return of 15.2% and share price total return of 22.9%. These […]
Schroder REIT posted a positive NAV total return in annual results, and reported that the value of its portfolio was stable over the three months to 31 March 2023. NAV declined by 4.4% to £287.4m, or 58.8p per share, over the year largely driven by an underlying portfolio value decline of 2.8% over the year […]
Workspace Group, the London flexible office provider, reported a sharp fall in EPRA net tangible assets (NTA) in annual result to 31 March 2024, as valuations in the office sector continue to tumble. The group’s EPRA NTA was down 13.7% to £8.00 over the year, mainly due to a like-for-like portfolio valuation decline of 8.1% […]
Canadian private equity giant Brookfield Asset Management is mulling an offer for Tritax EuroBox. The company said that it was in the early stages of making an offer for the FTSE 250 company. Tritax EuroBox has a market cap of around £484m, but its shares currently trade at a discount of around 33% to net […]
LondonMetric Property has published its first annual results since the acquisition of LXi REIT, resulting in a 20.3% boost in earnings. Net contracted rent increased over the year from £145m to £340m as a result of the merger, with EPRA earnings growing to £121.6m – up 5.4% on a per share basis. EPRA cost ratio […]
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