In the past couple of weeks we have seen two big over-subscribed capital raises by property companies that have caught many by surprise. First Supermarket Income REIT almost doubled its £75m target, raising £139.8m. And this week LondonMetric, the logistics focused company, exceeded its £100m target, raising £120m. It has caught many by surprise because […]
Impact Healthcare REIT has posted a slight uplift in net asset value (NAV) for the first quarter of 2020. The group, which owns a portfolio of UK healthcare real estate assets, reported a NAV of 106.98p per share, up from 106.81p at the end of December 2019. It also declared a dividend for the first quarter […]
Empiric Student Property has said it expects a reduction of income for the current academic year of up to 12% or £8m, in a trading update this morning. The loss of income from students being released from their rent obligations for the summer semester is below the company’s worst-case scenario of a £21m reduction in income. […]
UK Commercial Property REIT has reported a 3.9% fall in net asset value (NAV) for the quarter to the end of March. NAV per share at the group, which owns a diverse portfolio of UK real estate, was 86.3p at 31 March 2020, compared to 89.8p at the end of December 2019. The fall was […]
Regional REIT has provided an update on rent collection stating it had collected 92.8%. The group, which owns a diverse portfolio of office and industrial property assets in the UK, said the 92.8% of rent collected compares favourably with 91.6% rent collection at the same date in 2019. The collection rate, as at 1 May 2020, […]
Stenprop, the UK industrial property focused company, has provided a first quarter trading update, adding that it had now collected 81% of rent for the current quarter. In the first quarter the group completed 28 new lettings and 25 lease renewals, totalling 186,513 sq ft and generating £1.03m per annum of contractual rental income. It […]
LondonMetric has announced plans to raise £100m through a placing to take advantage of investment opportunities during the covid-19 pandemic. The company, which owns a portfolio of logistics assets in the UK, said it would use the proceeds to buy an identified pipeline of long income, urban logistics properties. The acquisitions it has lined up […]
How the real estate sector adapts to a ‘new normal’ following covid-19 could have huge implications for listed property companies. QuotedData has reported on the likely effects on the retail and logistics sectors as well as the impact on valuations. One of the biggest unknowns, however, is the outlook for the office sector. This week […]
GCP Student Living has reported a 1.8% fall in its net asset value (NAV) for the quarter to the end of March 2020, driven by the impact of covid-19. The student accommodation provider’s EPRA NAV (ex-income) was 169.97 pence per ordinary share. Its portfolio, which is majority located in London, was valued at £986.5m at […]
Custodian REIT has reported a 2.2% fall in the value of its property in the first quarter of 2020. The fall in valuation to £559.8m, which take into account a ‘material uncertainty clause‘ due to the covid-19 pandemic, was behind a 2.7% fall in the net asset value (NAV) per share to 101.6p. Unlike some […]
