In QuotedData’s morning briefing 1 May 2024: Picton Property (PCTN) has announced a 5.7% increase in its dividend, following recent portfolio activity and the repayment of floating rate debt. The interim dividend payment for the first quarter of 2024 (to be paid this month), will be 0.925p per share (Q4 2023: 0.875p per share). Picton […]
abrdn Property Income Trust reported annual results for 2023, in which NAV total return was -3.0%. The real estate investment portfolio returned 0.7%, which outperformed the MSCI Quarterly Property Index benchmark return of -1.5% over the same period. The company’s portfolio has outperformed the index over one, three, five and 10 years. The group’s NAV […]
Berlin residential landlord Phoenix Spree Deutschland has reported a 22.4% fall in EPRA net tangible assets to €3.96 per share (24.0% drop in sterling terms) in the year to 31 December 2023. The fall was mainly due to a 11.9% like-for-like drop in the value of its portfolio to €675.6m as buyer sentiment and transaction […]
Supermarket Income REIT has acquired a portfolio of Carrefour supermarkets in France – its first foray into markets outside the UK – through a sale and leaseback transaction for €75.3m, reflecting a net initial yield of 6.3%. The portfolio comprises 17 omnichannel supermarkets, which are geographically diversified, with a weighting towards northern France, and operated […]
abrdn European Logistics Income (ASLI) reported a big hit to its NAV in full year results for the year to 31 December 2023, as the impact of higher interest rates weighed on portfolio values. IFRS NAV decreased by 21.4% to 93.4 cents (31 December 2022: 118.9 cents), while the EPRA net tangible assets metric was […]
In QuotedData’s morning briefing 25 April 2024: Derwent London (DLN) has exchanged contracts to sell its 70,300 sq ft Publicis Group-let office in Clerkenwell for £77.35m to UK investment manager Titan Investors. The redevelopment of the building completed in 2015 and is let at a passing rent of £4.0m, on a lease expiring in 2035, […]
In QuotedData’s morning briefing 19 April 2024: Home REIT (HOME) has sold a further 65 properties at auction for a total of £15.9m, representing 4.8% of the company’s portfolio by value and in line with the August 2023 draft valuation. Since August 2023, the company has completed on the sale of 533 properties and exchanged on a […]
Urban Logistics REIT reported an average rental uplift of 23% on leases signed in the first quarter of this year as occupational activity returns. The company completed three new lettings (including one at a vacant asset) and three rent reviews in the period, covering 374,000 sq ft of space. This totalled £1.3m in new annualised […]
The board of Balanced Commercial Property Trust (BCPT) has launched a strategic review into the future of the company, with all options – including a sale, merger, or continuing as is – on the table. The move comes as the company approaches a continuation vote later this year. The board pointed out that the company […]
The board of Lok’n Store has agreed the terms of a recommended cash offer from Shurgard to acquire the company. Under the terms of the acquisition, Lok’n Store shareholders will be entitled to receive 1,110 pence in cash for each share, valuing the company at £378m. This represents a premium of: 15.9% to the closing […]
