Unite Students, the owner, manager and developer of student accommodation, has said that earnings for 2022 will be at the top end of its guidance of 40-41p per share, with a total accounting return of 8%. Higher than expected rental income in term one of the 2022/23 academic year more than offset the impact of […]
Impact Healthcare REIT has acquired a portfolio of six care homes for £56m, which will partly be paid in cash and partly with an issue of new shares to the vendor Morris Care Limited. The portfolio has 438 beds, of which 400 have en suite bathrooms, with five homes in Shropshire and one in Cheshire. […]
One of the worst performing sectors in 2022 was property as the cheap borrowing taps were turned off and an abrupt end of a decade of quantitative easing saw interest rates and market expectations jump above prime property yields. It sent the share prices of most real estate investment trusts (REITs) on a downward spiral […]
LondonMetric Property has acquired a retail park asset from an open ended property fund for £38.0m through one of its joint ventures (LondonMetric share: £19.0m). The acquisition price reflects a net initial yield of 5.4%, rising to 5.7% upon completion of short term asset management initiatives. The 68,000 sq ft property is located on a […]
LXI REIT has renegotiated the leases of the 122 Travelodge hotels, extending the weighted average lease length by a further nine years. The portfolio of hotels was acquired by LXI as part of the Secure Income REIT merger. In return for the nine year extensions (which extends the weighted average unexpired lease term to first […]
Ediston Property Investment Company, which invests in retails parks in the UK, has reported a 5.9% increase in NAV in annual results to 30 September 2022. Its EPRA NAV per share is now 94.9p (2021: 89.6p), the uplift driven by a 10.3% portfolio valuation gain in the year to £231.4m. The increase was due falling […]
abrdn Property Income Trust has refinanced its debt again, taking a £3.56m hit to lower the interest rate cap. The company announced on 12 October 2022 (at the height of bond market volatility following the min-budget) that the trust had completed an extension of its debt facilities that were due to expire in April 2023 […]
Home REIT says that it will strengthen its management team and bring in independent pre-purchase valuers as part of several changes to “maintain and enhance shareholder confidence” following a number of allegations in recent weeks. The company will also beef up its board with the appointment of a new non-executive director and hire the services […]
Home REIT has come under more fire today, as law firm Harcus Parker launches a litigation claim alleging that shareholders were misled by information they were provided by the company and its associates. The collective action is seeking compensation for retail investors “in relation to significant losses on their investments”. Harcus Parker claims that while […]
The board of directors of Home REIT is facing a call to step down by activist investor Boatman Capital Research after it accused the company of being “over-optimistic in its assumptions” on the value of its portfolio. In an open letter to Home REIT senior independent director Simon Moore, Boatman Capital Research claims that the social […]
