The board of Ediston Property Investment Company (EPIC) has launched a strategic review into the future of the company that could result in it being merged with another REIT or sold. The company, like many other REITs, has been battling a persistent wide discount to net asset value (NAV), which has severely impacted its ability […]
Supermarket Income REIT has exchanged contracts for the sale of its interest in a portfolio of Sainsbury’s let supermarkets to Sainsbury’s for a total of £430.9m. As previously announced, Sainsbury’s has acquired 21 of the 26 stores in the Sainsbury’s Reversion Portfolio (SRP), concluding the contractual unwind of the SRP Portfolio structure. The transaction is expected […]
In QuotedData’s morning briefing 10 March 2023: Workspace Group (WKP) has sold the residential component of the Riverside mixed-use redevelopment in Wandsworth, London, for £53.95m, in line with its September 2022 valuation (£43.95m is payable immediately with the remaining £10m payable in March 2024). Workspace initially secured planning consent for 402 residential units and a […]
Triple Point Social Housing REIT has reported a slight uptick in NAV in 2022 results as the positive impact of its inflation-linked leases offset yield movement caused by rising interest rates. Highlights include: EPRA Net Tangible Assets per share of 109.06 pence as at 31 December 2022 (2021: 108.27 pence), an increase of 0.7%. Portfolio independently valued at £669.1m (2021: £642.0m) The portfolio’s […]
Tritax Big Box REIT has exchanged contracts for the sale of three investment assets for a total of £125m, in line with the 31 December 2022 valuations and reflecting a blended net initial yield of 4.6%. The purchaser is a leading global investor in real estate. The three assets, which have a combined WAULT of […]
Tritax Big Box REIT has posted a 19.0% drop in EPRA net tangible assets (NTA) in 2022 results. The fall, to 180.37p per share, was the result of the impact of rising interest rates on prime property yields, but was less than anticipated. The group’s portfolio value decreased 15.2% on a like-for-like basis in the […]
Student accommodation landlord Unite Group results for 2022 show performance ahead of pre-pandemic levels. Adjusted earnings were up 48% to 40.9p per share, while the company matched the uplift in its dividend of 32.7p (2021: 22.1p). The group’s portfolio was back to full occupancy in the 2022/23 academic year, with 3.5% rental growth. The outlook […]
Lar Espana Real Estate, the Spanish-listed REIT that invests in retail property, has reported a 5.0% increase in EPRA net tangible assets (NTA) in 2022, bucking the trends of falling valuations across the real estate sector. The company, which owns nine shopping centres and five retail parks across Spain, said EPRA NTA was €10.93 per […]
In QuotedData’s morning briefing 27 February 2023: Life Science REIT (LABS) announces the letting of part of the ground floor of Building One at Oxford Technology Park to Arcturis Data Limited, a healthcare technology company applying advanced analytics and machine learning to generate real-world evidence and novel healthcare insights in both common and rare diseases. […]
The headline numbers reported by real estate investment trusts (REITs) make for scary reading. NAV down 13.9% at AEW UK REIT in the final quarter of 2022, 21.5% at UK Commercial Property REIT, and several others posting similar declines. These falls (and more) were widely anticipated and priced into most companies late last year at […]
