The debut listing on the world’s first real estate stock exchange has taken place today. Mailbox REIT, which owns the Mailbox office block in Birmingham, began trading on the International Property Securities Exchange (IPSX) this morning. The company, set up by M7 Real Estate, issued 84,850,000 shares, which have been admitted to trading on the […]
Private rented sector specialist Grainger has reported strong half-year results in which earnings grew 11%. The group, which has a portfolio of 9,109 rental homes in the UK, said rents were up 1.7% in the six months to March 2021, while enquiry levels were up 86% since January. Net rental income was £34.7m, down on the […]
GCP Student Living has posted a 4.5% increase in EPRA net tangible assets (NTA) for the first quarter of 2021. The increase, to 179.07p per share, was mainly down to a 3.5% uplift in the value of its portfolio (mainly focused on London) to £1.06bn. This was due to an uptick in activity in the investment […]
Civitas Social Housing has increased its dividend target for full year 2022 by 2.8% after posting another increase in net asset value (NAV). The group said in a trading update that it is targeting a dividend of 5.55 pence per share for the financial year ending 31 March 202, which represents an increase of 2.8% to the 2021 […]
As predicted, merger and acquisition (M&A) activity has taken off in the listed property sector in 2021. Friday’s announcement that St Modwen Properties (SMP) had received an unsolicited approach from US private equity giant Blackstone regarding a possible cash offer of £1.2bn for the company feels a bit different to recent M&A news. This week […]
St Modwen Properties has received a proposal from US private equity giant Blackstone regarding a £1.2bn offer for the company. The board of St Modwen said it was minded to unanimously recommend the offer, which is at a huge premium to its share price and net asset value. The possible cash offer of 542 pence is a […]
Standard Life Investment Property Income Trust (SLI) reported a 4.0% increased in net asset value (NAV) in the first quarter of 2021. The group, which owns a diverse portfolio of property assets heavily weighted to the industrial and logistics sector, said NAV at 31 March 2021 was 85.3p (Dec 2020: 82.0p) resulting in a NAV […]
UK Commercial Property REIT has increased its dividend by 40% due to the improved economic outlook for the UK. The group, which reported a 1.5% jump in its net asset value in the first quarter of 2021, said it will increase the quarterly dividend payable to 0.644p per share. This is still 30% down on the […]
Alternative Income REIT has upped its dividend following continued strong rent collection. The group, which owns a diverse property portfolio worth £108.7m, has increased its quarterly dividend to 1.25p per share, from 1.00p in the quarter ending December 2020. This increase followed rent collection since the start of the pandemic of 97.2%, with deferrals agreed […]
Custodian REIT has said it will increase its target dividend after reporting rent collection rates of 89% for the year to 31 March 2021. The group paid a dividend of 4.5p in the year, which was down on the 6.65p it paid for the year to March 2020 reflecting the decreases in rent collection rate and […]
