Shaftesbury Capital has reported solid results for the year to 31 December 2023, as leasing activity picked up and valuations declines were muted. The company transacted 526 leasing deals, representing £37.0m of rent, 10.0% ahead of estimated rental value (ERV). Annualised gross income increased 10.4% on a like-for-like basis to £192.8m. The portfolio ERV grew 6.9% […]
Retail property landlord Hammerson reported a record year of leasing, which contributed to an 11% uplift in adjusted earnings in annual results to 31 December 2023. The group completed 306 lettings, which generated £46m of headline rent up 23% on a like-for-like basis. Permanent deals signed were 37% above the previous passing rent and 12% above […]
Primary Health Properties has reported a 4.1% fall in EPRA net tangible assets (NTA) to 108.0p in annual results to 31 December 2023, however, earnings were up 3.0% to 6.8p per share. [QD comment: This value decline, earnings growth dynamic typifies the state of play in the real estate sector and we expect it will be […]
SEGRO has raised £907m in a placing of shares – a real vote of confidence in the real estate behemoth, its growth plans and the logistics sector. The company increased the size of the raise from around £800m to £900m due to demand. It also raised £7m from retail investors via the PrimaryBid platform. I […]
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 […]
