In QuotedData’s morning briefing 28 February 2024: Grit Real Estate Income Group (GR1T) has reported a 6.4% fall in EPRA net reinstatement value (NRV) to $68.1 cents per share in the six months to 31 December 2023. This was predominantly driven by a 2.7% fall in the value of its portfolio. Net operating income increased […]
Student accommodation specialist Unite Group reported record earnings in results for the year to 31 December 2023, as the supply and demand dynamics in the real estate sub-sector continues to benefit the company. The company posted an 8% uplift in adjusted earnings per share to 44.3p (2022: 40.9p). This was influenced by practically full occupancy […]
In QuotedData’s morning briefing 27 February 2024: Alternative Income REIT (AIRE) reported a 3% fall in net asset value (NAV) to 81.62p per share in the six months to 31 December 2023, following a 3.5% drop in the value of its portfolio to £103.3m. Adjusted earnings per share for the period were down 11.6% to […]
Consolidation is in vogue in the investment trust space right now and nowhere is this more prominent than in the real estate sector, where it seems not a week goes by when another merger bid is made. This week’s latest proposal saw Urban Logistics REIT (SHED) table a surprise offer for abrdn Property Income Trust […]
In QuotedData’s morning briefing 22 February 2024: Both abrdn Property Income Trust (API) and Custodian Property Income REIT (CREI) have adjourned their shareholder meetings to vote on the merger offer from CREI due to this week’s indicative offer for API by Urban Logistics REIT (SHED). API’s board said that it was assessing the possible offer […]
Urban Logistics REIT (SHED) has approached the board of abrdn Property Income Trust (API) regarding an indicative share-for-share offer for the company. The indicative offer exchange ratio is 0.469 SHED shares for each API share (and was reached on the basis that both companies will pay existing shareholders dividends due for the final quarter of […]
abrdn European Logistics Income (ASLI) has said that it has received a number of proposals to acquire the company, after putting itself up for sale in November 2023. A broad range of preliminary, indicative non-binding proposals have been made to the company, it said. The company added that “there can be no certainty at this […]
In QuotedData’s morning briefing on 19 February 2024: Unite Students (UTG) has entered into a joint venture framework agreement with Newcastle University for the development of 2,000 new student beds. The scheme will replace an existing student accommodation building at the university’s Castle Leazes site in Newcastle. The Castle Leazes site currently provides 1,250 beds […]
SEGRO reported rental growth across its portfolio of 6.5% during 2023, as occupier demand for logistics space remained strong. Net rental income grew 12.5% to £587m, including new developments and the rental growth within its existing portfolio. This was achieved in the backdrop of falling property values in the high interest rate environment. The group’s […]
Balanced Commercial Property Trust has sold its largest office holding as it continues to reduce its exposure to the challenged UK offices sector and rebalance its portfolio. Contracts have exchanged for the sale of the Leonardo Building in Crawley, a 110,000 sq ft out-of-town business park office, for a price of £26.1m. This represents a […]
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