Schroder REIT increased its dividend by 14% last year on the back of strong operational performance. Estimated rental growth (ERV) on the diversified portfolio (which is skewed towards industrial assets) was up 9.2% in its financial year to 31 March 2023, while EPRA earnings was up to 3.3p per share. This fully covered the dividend […]
LXI REIT has reported its first results since its merger with Secure Income REIT, showing “material cost savings” feeding through to earnings growth. EPRA earnings per share (EPS) was up 36.1% to 8.3p (31 March 2022: 6.1p), while adjusted cash EPS was up 17.5% to 6.7p for the year (31 March 2022: 5.7p). This fully […]
NewRiver REIT’s new strategy focused on ‘resilient retail’, mainly retail park assets with essential goods and services retail tenants, is starting to pay off with the company reporting strong operational performance in annual results to 31 March 2023. The group posted a 26% increase in underlying funds from operations (UFFO) to £25.8m, with UFFO per […]
Warehouse REIT has reported a 29.5% drop in EPRA NTA to 122.6p per share in annual results to the end of March 2023, reflecting the outward movement in yields in line with the rise in interest rates. The group’s portfolio valuation fell 18.5% to £828.8m (2022: £1,012.0m) on a like-for-like basis following a 131 basis […]
Berlin residential landlord Phoenix Spree Deutschland (PSDL) has proposed a change to the fee structure for its property advisor, capping its annual fee at €5m. The company’s core rental business remains strong, but it had to suspend its dividend earlier this year as this was paid out of proceeds from condominium sales (which have been […]
Impact Healthcare REIT (IHR) has transferred the leases of care homes let to Silverline Group, which has not paid its rent due for the first two quarters of this year, to an affiliate of an existing tenant of the company. IHR has transferred the leases of Silverline, which let seven homes and accounted for 3.4% […]
Another week in property, another M&A announcement. This time it is LondonMetric pouncing on smaller peer CT Property Trust (CTPT) with an all share offer that values the company at around £200m. In recent weeks we have seen Industrials REIT taken private by Blackstone, Civitas Social Housing also recommending a bid for the company and […]
UK Commercial Property REIT has sold its 186,455 sq ft Wembley180 logistics asset in London for £74m, which reflects a net initial yield of 3.49% and is broadly in line with the 31 March 2023 valuation. The buyer was Covent Garden IP Limited, a registered charitable company that supports The Church of Jesus Christ of Latter-day […]
LondonMetric and CT Property Trust (CTPT) have reached agreement on the terms of a recommended all-share offer that will see LondonMetric acquire the entire share capital of CTPT. Under the terms of the acquisition, CTPT shareholders will receive 0.455 new LondonMetric shares per share. On the basis of the closing price of LondonMetric of 188.0 […]
Home REIT has appointed AEW as its new manager as the company looks to turn around its fortunes after a series of damaging revelations involving malpractice and allegations of fraudulent activity. The board has entered into an agreement with AEW UK Investment Management LLP under which, effective immediately, AEW will act as the company’s property […]
