Overview
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Fundamentals
Price
Research History
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11 Aug 2023 10 min read
QuotedData’s Real Estate Monthly Roundup – August 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data July’s biggest movers in price terms are shown in the charts below. Better than expected inflation figures in the UK raised hope that interest rates had peaked, and that commercial property values may have bottomed out. Improving investor sentiment towards the sector was reflected in an […]
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13 Jun 2023 15 min read
QuotedData’s Real Estate Monthly Roundup – June 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data May’s biggest movers in price terms are shown in the charts below. The property sector is a hotbed of merger and acquisition (M&A) activity as investors look to take advantage of the unloved sector and wide discounts to net asset values (NAVs). Higher than expected inflation […]
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16 May 2023 13 min read
QuotedData’s Real Estate Monthly Roundup – May 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data April’s biggest movers in price terms are shown in the charts below. Property stocks returned to positive territory in April after months of losses due to the impact of higher interest rates on valuations. The first signs of values stabilising are starting to feed through with […]
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05 Jan 2023 11 min read
QuotedData’s Real Estate Monthly Roundup – January 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data December’s biggest movers in price terms are shown in the charts below. 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however. […]
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07 Dec 2022 64 min read
QuotedData’s Economic and Political Monthly Roundup December 2022
Economic and Political Monthly Roundup Investment companies | Monthly | December 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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12 min read
QuotedData’s Real Estate Roundup – December 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data November’s biggest movers in price terms are shown in the charts below. Valuation declines in the property sector are starting to feed through in NAV announcements and interim results (see page 2) as higher cost of debt continues to put pressure on pricing. Having seen dramatic […]
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07 Jul 2022 15 min read
QuotedData’s Real Estate Roundup – July 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data June’s biggest movers in price terms are shown in the charts below. There were only a handful of property companies that saw share price growth in the month of June as interest rate rises and concerns of an impending recession took hold. Top of the list […]
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10 Jun 2022 16 min read
QuotedData’s Real Estate Roundup – June 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data May’s biggest movers in price terms are shown in the charts below. A perpetual theme in the listed property sector over the last few years has been the persistent discount to net asset value that many companies’ share prices have traded on. Some have succumbed to […]
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24 Jan 2022 10 min read
QuotedData’s Real Estate Annual Review – 2021
Real Estate Annual Review Kindly sponsored by Aberdeen Standard Investments Bouncebackability Over the course of 2021, the property sector certainly rebounded from the depths of the pandemic-induced slumps of 2020, with the average share price of listed property companies up 14.2%. That didn’t mean there were not some ups and downs along the way. The […]
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06 Dec 2021 13 min read
QuotedData’s Real Estate Roundup – December 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data November’s biggest movers in price terms are shown in the charts below. November ended under a cloud of uncertainty, with the discovery of the Omicron coronavirus variant threating a return of restrictions that have wreaked havoc in the property sector over the past two […]
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08 Nov 2021 8 min read
QuotedData’s Real Estate Roundup – November 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data October’s biggest movers in price terms are shown in the chart below. The best performing real estate funds in October were mainly sector specialists, however, the property generalists had a good month too, led by BMO Real Estate Investments. The company saw its share […]
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15 Oct 2021 8 min read
QuotedData’s Real Estate Quarterly Review – Third Quarter 2021
Real Estate Quarterly Review Kindly sponsored by Aberdeen Standard Investments Rate rise fears dampens bounce back The quarter started with much promise, as activity picked up with the full opening of the economy. This was reflected in the valuation of commercial properties and in turn investor sentiment to the listed real estate sector. However, supply chain […]
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08 Oct 2021 10 min read
QuotedData’s Real Estate Roundup – October 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data September’s biggest movers in price terms are shown in the chart below. With fears that economic growth will be stunted by supply chain issues, September wasn’t a great month for property stocks. However, development and regeneration specialist Harworth saw its share price rise 13.3% […]
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09 Jul 2021 10 min read
QuotedData’s Real Estate Roundup – July 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data June’s biggest movers in price terms are shown in the chart below. In a month when Boris Johnson announced the easing of restrictions would be pushed back as COVID cases rose, only a handful of property companies saw share price gains. Topping the list […]
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07 Jun 2021 14 min read
QuotedData’s Real Estate Roundup – June 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data May’s biggest movers in price terms are shown in the chart below. Unsurprisingly, St Modwen Properties saw a big rise in its share price in May having received a cash offer for the business (logistics developments and a housebuilding arm) from Blackstone, valuing it […]
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19 Apr 2021 8 min read
QuotedData’s Real Estate Quarterly Review – first quarter 2021
Lockdown cloud begins to lift The success of the vaccine rollout in the UK and the implementation of a roadmap out of lockdown saw the share prices of listed property companies – most of which had been decimated during the last year – make somewhat of a recovery. The economy is on firmer footing and […]
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11 Feb 2021 6 min read
QuotedData’s Real Estate Roundup – February 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data January’s biggest movers in price terms are shown in the chart below. The UK’s vaccination programme has lifted optimism for a speedier opening of the economy than first feared at the start of the year. Property companies that reported positive valuation figures for the […]
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22 Jan 2021 12 min read
QuotedData’s Real Estate Annual Review – 2020
Real Estate Annual Review Kindly sponsored by Aberdeen Standard Investments Riding out the COVID rollercoaster The 2020 rollercoaster saw more downs than ups and at times felt like a pandemic induced freefall. Lockdowns, tiers and plenty of U-turns meant investing in property was not for the faint hearted. Positivity returned at the end of the […]
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10 Sep 2020 8 min read
QuotedData’s Real Estate Roundup – September 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data August’s biggest movers in price terms are shown in the chart below. There were some interesting price rises during the month of August as investors’ search for returns took them to property companies that have seen their share prices severely depressed during the Covid-19 […]
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20 Apr 2020 7 min read
QuotedData’s Real Estate Quarterly Roundup – First Quarter 2020
Real Estate Quarterly Roundup Kindly sponsored by Aberdeen Standard Investments Covid chaos The covid-19 pandemic has had a devastating effect on the share price of property companies, with 31% wiped off the value of their total market capitalisation during the first quarter of 2020. Companies focused on the retail, leisure and hospitality property sectors were […]
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10 Mar 2020 12 min read
QuotedData’s Real Estate Roundup – March 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data February’s biggest movers in price terms are shown in the chart below. Property stocks tumbled in February as fears over the spread of Covid-19 spooked financial markets around the world and resulted in the largest sell-off since the 2008 financial crisis. There were just […]
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30 Jan 2020 12 min read
QuotedData’s Real Estate Annual Review – 2019
Property’s alternative theory The year was dominated by political and economic uncertainty, with Brexit negotiations casting a shadow over the market and the general election adding a further layer of doubt for much of the year. For a market that is staunchly aligned with political and economic sentiment, listed property companies and REITs performed well, […]
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18 Sep 2019 7 min read
QuotedData’s Real Estate Roundup – September 2019
Real Estate Roundup Performance data August’s biggest movers in price terms are shown in the chart below. The month of August has traditionally been a quiet period for news and announcements in the property sector, and this year is no different. Central London landlord Shaftesbury, which owns Carnaby Street as well as huge swathes of […]
News
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10 Aug 2026 2 min read
REIT review: property shares rebound in July as SEGRO bid dominates
UK-listed property stocks enjoyed another positive month in July, with the average share price rising 2.3%, and 34 of the 49 companies in our dataset recording gains. The median return was slightly stronger at 2.5%. The sector has now delivered three consecutive months of positive average returns, taking the three-month gain to 3.9%. However, the […]
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03 Jul 2026 2 min read
REIT Review: Bids bring diverging fortunes for UK targets
Real estate share price risers and fallers in June were heavily influenced by M&A announcements, which continue to dominate the listed property landscape following four years that has seen the sector halve in number. Overall, the sector was up 1.5% on average in June and was up 4.5% in the quarter. The war in Iran […]
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2 min read
Morning briefing: Saba lifts Grainger stake to over 6%; Caledonia invests £60m in Blue Diamond garden centres; European Smaller Cos raises 5% dividend policy target; buybacks push Pantheon shares to 37.5% one-year return
Saba Capital has raised its stake in Grainger (GRI), the residential landlord whose shares have jumped over 15% since the activist hedge fund emerged with a 5% position a month ago. Yesterday Saba disclosed that it had bought more total return swaps on Monday 29 June to lift its holding to 6.3%. In May Mike […]
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12 Jun 2026 4 min read
Why Saba’s real estate raid may come unstuck
Saba has set its sights on a new target – rental property landlord Grainger (GRI). It echoes its campaign at fellow London-listed REIT Workspace Group (WKP), where it has requisitioned to replace the board with its own nominees and push ahead with a managed wind down. Both companies have attracted the attentions of the US […]
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10 Jun 2026 3 min read
Morning briefing: “Strap in” for Grainger battle as Saba follows Mike Ashley with 5% stake; Saba target Workspace cuts dividend; Molten backs Isar Aerospace; IBT and BIOG chalk up sixth bid as GSK buys Nuvalent; plus Helical, Tritax Big Box
Saba Capital has bought a 5% position in Grainger (GRI), the £1.1bn residential landlord that has been trading at around a 50% discount to net asset value. Shares in the company rose 4.2% to 159.7p after the activist hedge fund’s stake, mostly held in swap derivatives, was disclosed yesterday afternoon. Saba completed buying the position […]
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08 Jun 2026 3 min read
Morning briefing: Seraphim Space promoted to FTSE 250; SHIP makes 12.7% return from Hormuz blockade; JPMorgan China “somewhat” protected after 9.5% half-year fall; Mike Ashley buys Grainger stake; Segro talks to activist; Helical launches £5m buyback; plus Ceiba
Seraphim Space (SSIT) will join the FTSE 250 on 19 June after a 39% share price rise this year and last month’s £127m C-share issue lifted the market value of the world’s first listed SpaceTech fund to £698m at Friday’s close. Chair Will Whitehorn said elevation to the “mid-cap” index was a “significant milestone” and […]
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05 Jun 2026 2 min read
REIT Review: Real estate heavyweights lead recovery in May
Real estate big hitters were among the best performers in May, regaining more of the losses sustained over the past few months of uncertainty. Best performers in price terms (%) Unite Group 11.4 Ground Rents Income Fund 7.4 Land Securities 6.4 Hammerson 4.7 British Land 4.7 Macau Property Opportunities 4.7 Target Healthcare REIT 4.6 […]
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11 May 2026 2 min read
Morning briefing: F&C shares split; Mid Wynd cuts Lazard’s fees for two years; Ruffer buys Tips and S&P 500 calls; Unite extends buybacks after St Pancras sale; plus Grainger
F&C (FCIT) says its four-for-one share split has taken place after shareholders in the £6.2bn global equity fund approved the move at its annual general meeting on 29 April. Announced at its annual results in March, the split is designed to improve liquidity in the stock and sees the 158-year-old investment trust quadruple the number […]
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04 Feb 2026 1 min read
Morning briefing: Grainger reports “strong” trading; Abrdn Diversified to begin liquidation next month; Schroders Greencoat LTAF buys solar portfolio
Grainger (GRI), the £1.4bn UK residential real estate investment trust, says its latest build-to-rent scheme in London, Seraphina, has been fully let in less than four months. A “strong” trading statement for today’s annual general meeting in Newcastle covering the four months to 31 January shows 3.1% rental growth and 96% occupancy in line with […]
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26 Jan 2026 2 min read
Morning briefing: Impax Environmental publishes anti-Saba defence; Harwood-backed Spire Healthcare soars on £1.5bn bid talks; Develop North appoints chief exec; plus GRI, ASLI, MPO
Impax Environmental Markets (IEM) publishes the circular for its proposed 100% continuation tender offer to get Saba Capital to sell its 20.7% stake close to asset value and leave the unique listed fund for shareholders who want to remain invested. The tender requires over 75% of votes cast at a general meeting on 23 February. […]
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28 Nov 2025 3 min read
Mansion tax raises more questions than revenue
This budget will probably be remembered for two things – obviously the bizarre early release by the OBR but also the, almost as perplexing, plans for a mansion tax. It was packed with short-term political manoeuvring that sadly took precedence over long-term growth initiatives, but there were a couple of positive spots. Reforming the ISA […]
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21 Nov 2025 2 min read
Amid budget jitters, this REIT’s rental engine keeps running
Trying to predict what will be in next week’s budget seems futile, with the Chancellor fumbling the messaging and performing drastic U-turns. What we do know is that now a rise in income tax has been ruled out, we will be clobbered somewhere else as Rachel Reeves looks to fill the black hole in the […]
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20 Nov 2025 2 min read
Morning briefing: Biotech Growth rallies 37%; Grainger happy as REIT; Supermarket Income buys 10 Asda stores; LMP, UEM
Biotech Growth (BIOG) has hailed its recovery from its sector’s bear market of the past three years, posting a 36.9% total investment return for the six months to 30 September. The rebound, which smashed the 10.6% in the Nasdaq Biotechnology index, reflected “exceptional returns” from the likes of Mineralys Therapeutics, Alnylam Pharmaceuticals and Avidity Biosciences […]
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11 Nov 2025 2 min read
REIT review: Property shares climb, but residential REIT feels the pain as Renters’ Rights Bill bites
Sentiment towards property largely improved in October, with the big names all seeing share price gains as UK inflation data came in slightly below expectations. However, residential REIT Grainger’s shares continue to fall as the Renters’ Rights Bill was passed into law during the month. All eyes now turn to the budget at the end […]
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08 Sep 2025 5 min read
Morning briefing: Ruffer benefitting from surge in gold mining equities; plus GSF, TIR/TIG, PEY, GRI, WHR, JARA, MAJE & ONWD
Ruffer Investment Company (RICA) reported another month of positive NAV performance in August, driven primarily by gold mining equities. The manager said strong free cash flow generation at higher gold prices continues to provide attractive opportunities, even after the sector’s strong rally this year. Gold bullion resumed its upward trajectory during the month, hitting a […]
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07 Aug 2025 2 min read
Sirius Real Estate shines as REIT valuation gains pierce the economic gloom
A good number of real estate investment trusts made headway in July despite mounting macroeconomic uncertainty weighing on the sector which, after a strong first half of the year, was down 2.6% on average. Best performing real estate shares (%) Sirius Real Estate 6.8 International Workplace Group 6.0 Value & Indexed Property Income Trust […]
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24 Jul 2024 1 min read
QuotedData’s morning briefing 24 July 2024 – UKW, GRI, PHP
In QuotedData’s morning briefing 24 July 2024: Greencoat UK Wind (UKW) announced its interim report for the six months to 30 June 2024. The company saw a NAV total return of -2.9% and a share price total return of -4%. The company declared total dividends of 5 pence per share with respect to the period […]
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18 May 2023 2 min read
QuotedData’s morning briefing 18 May 2023
In QuotedData’s morning briefing 18 May 2023: JLEN Environmental Assets (JLEN) NAV at end March 2023 slipped very marginally (0.4p) from the level at end December. Falling near-term power prices, which have affected other renewable energy funds, are less impactful on JLEN, which has a high degree of protection from short term price hedges as […]
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14 Oct 2021 1 min read
Grainger acquires London residential scheme for £141m
Grainger has exchanged conditional contracts to forward fund and acquire Merrick Place, a build-to-rent development scheme in Southall, west London, for £141m. Proceeds from Grainger’s recent equity placing will be used to acquire the 401 home development. Located adjacent to Southall Station, which includes the new Crossrail station, Merrick Place will also comprise 18,116 sq […]
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13 May 2021 2 min read
Grainger reports strong earnings growth
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 […]
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18 Feb 2021 1 min read
QuotedData’s morning briefing 18 February 2021
In QuotedData’s morning briefing 18 February 2021: SEGRO (SGRO) says its French subsidiary is making a tender offer for the 5.6% of Sofibus Patrimoine that it doesn’t already own. SEGRO’s offer is €313.71 per share. Grainger (GRI – the residential property company) has made Robert Hudson its chief financial officer. Rob is currently chief finance and operations […]
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13 Feb 2020 1 min read
Grainger raises £186.7m in placing
Grainger, the UK private rented housing specialist, has raised £186.7m from a placing. A total of 61.2m new shares in Grainger were placed at a price of 305.0 pence per share, representing a discount of 2.31% to the closing price on 12 February 2020. Including additional debt of around £120m based on company’s LTV target range, the […]
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1 min read
Grainger plots £185m fund raise
Grainger, the UK’s largest listed provider of private rental housing, has announced it is seeking to raise around £185m from a placing. The group is placing up to 61.2m shares, which represents 9.99% of its shares, and including additional debt of around £120m based on company’s LTV target range, it will generate aggregate funding capacity […]
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13 Sep 2017 15 min read
Crystal Amber lays out case for its portfolio after bumper year
Crystal Amber lays out case for its portfolio after bumper year – Crystal Amber’s NAV increased by 32.9% over the year to the end of June 2017. They declared interim dividends of 2.5 pence in both July 2016 and December 2016, in line with the dividend policy of 5.0 pence per year. Including the dividends […]
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31 Aug 2016 4 min read
Acorn’s smaller companies portfolio suffers in the wake of Brexit
Acorn Income Fund has announced its interim results for the six months ended 30 June 2016. During the period, Acorn’s gross assets provided a total return of -8.13%, whilst its NAV total return was -13.95%. Reflecting an increase in the premium to NAV at which the company’s shares traded, the share price total return was […]
In The Press
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25 Jul 2026 1 min read
James Carthew comments on Saba’s stakes in UK property in The Observer
James Carthew comments on Saba’s new UK property stakes in Emma Haslett’s article: “We think Saba’s got so much money that it’s having to find different things to do that it wouldn’t normally do, and so it’s started going after property because it’s ostensibly on big discounts.” Read the article here
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30 Jun 2026 1 min read
Investment trust insider on TR Property
James Carthew: TR Property is primed for a real estate rebound Marcus Phayre-Mudge has been busy preparing the £976m property trust for an eventual recovery in the unloved sector. When Prologis’s bid for SEGRO (SGRO) was announced on the same day Schroder European Real Estate (SERE) proposed to wind down last week, my first thought […]
