Overview
LXi REIT : LXI is targeting attractive inflation-protected income and capital returns through a diversified portfolio of very long-let and index-linked UK property assets. Typically, it will invest in 20 to 30 years to expiry or first break index-linked leases with institutional grade tenants. LXi REIT will not undertake any direct development activity nor assume direct development risk.
You can access the company’s website here
LXI : LXi REIT
Research History
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13 Dec 2023 15 min read
QuotedData’s Real Estate Monthly Roundup – December 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data November’s biggest movers in price terms are shown in the charts below. Property stocks bounced back in November after a difficult few months, with the median share price across the sector up 8.2%. Investor sentiment towards the sector improved as hopes that interest rates have hit […]
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17 Oct 2023 8 min read
QuotedData’s Real Estate Quarterly Review – Third Quarter 2023
Real estate quarterly report Kindly sponsored by abrdn Chinks of light It has been another quarter of pain for real estate investment trusts (REITs) and listed property companies, with share price weakness continuing and average falls of 13.7% across the sector (as shown in the chart to the right). There are chinks of light appearing […]
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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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14 Jul 2023 12 min read
QuotedData’s Real Estate Monthly Roundup – July 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data June’s biggest movers in price terms are shown in the charts below. Sticky inflation in the UK and the Bank of England’s 0.5% hike in interest rates, which now sit at 5.0%, their highest level in 15 years, saw uncertainty return to the property market. The […]
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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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25 Apr 2023 8 min read
QuotedData’s Real Estate Quarterly Review – First Quarter 2023
Real estate quarterly report Kindly sponsored by abrdn Headwinds mount up The headwinds facing commercial real estate continued to mount up in the first quarter of 2023, reflected in an 8.9% average share price fall across the sector. Already reeling from the impact of higher interest rates on valuations, the collapse of Silicon Valley Bank […]
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06 Apr 2023 13 min read
QuotedData’s Real Estate Monthly Roundup – April 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data March’s biggest movers in price terms are shown in the charts below. Property stocks tumbled further in March as stubborn inflation and a further interest rate hike was announced by the Bank of England. The median average share price fall across the sector was 7.9%. Perhaps […]
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24 Jan 2023 10 min read
QuotedData’s Real Estate Annual Review – 2022
Real Estate Annual Review Kindly sponsored by abrdn The year the rug was pulled out 2022 will be remembered as the year that the rug was pulled from under the property sector. Having benefitted from decades of low interest rates, which had fuelled debt-ladened deals and piqued the appetite of global investors looking for more […]
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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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14 Oct 2022 8 min read
QuotedData’s Real Estate Quarterly Review – Third Quarter 2022
Real estate quarterly report Kindly sponsored by abrdn Choppy waters ahead High interest rates is a killer for real estate, and so the chancellor’s disastrous ‘mini budget’ at the end of September – which spooked gilt markets and saw interest rate forecasts for next year top 6% – had a catastrophic impact on the listed […]
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06 Oct 2022 10 min read
QuotedData’s Real Estate Roundup – October 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data September’s biggest movers in price terms are shown in the charts below. The real estate sector is facing the perfect storm. Fears that interest rate rises will be higher and faster as the Bank of England looks to quell inflation, exacerbated by the chancellor’s disastrous ‘mini […]
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04 Aug 2022 10 min read
QuotedData’s Real Estate Roundup – August 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data July’s biggest movers in price terms are shown in the charts below. Many of the logistics and office focused companies that have suffered in the past few months saw somewhat of a recovery in July, as the substantial discounts that their share prices trade at relative […]
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15 Jul 2022 8 min read
QuotedData’s Real Estate Quarterly Review – Second Quarter 2022
Real Estate Quarterly Review Kindly sponsored by abrdn Storm clouds gather Fears that a perfect storm is brewing has weighed on the real estate sector. Central banks’ move to raise interest rates to curb spiralling inflation has stoked concerns that investors will turn away from real estate to less risky alternatives, such as bonds. Meanwhile […]
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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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06 May 2022 9 min read
QuotedData’s Real Estate Roundup – May 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data April’s biggest movers in price terms are shown in the charts below. Fears of a looming recession meant April was a difficult month for property stocks generally. There were a few positive performers in share price terms, however. Leading the way was London office landlord and […]
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12 Apr 2022 7 min read
QuotedData’s Real Estate Quarterly Review – First Quarter 2022
Real Estate Quarterly Review Kindly sponsored by Abrdn Value to be found in topsy-turvy market The first three months of 2022 have been full of significant events. Investor caution followed Russia’s invasion of Ukraine and put paid to a London-listed property company with a portfolio of Russian assets (see page 6 for details). The cost-of-living crisis […]
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09 Mar 2022 11 min read
QuotedData’s Real Estate Roundup – March 2022
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data February’s biggest movers in price terms are shown in the charts below. The geopolitical uncertainty caused by the Russian invasion of Ukraine has hit markets hard. On the whole, the property sector suffered losses during February, but there were a few companies that saw […]
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04 Feb 2022 7 min read
QuotedData’s Real Estate Roundup – February 2022
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data January’s biggest movers in price terms are shown in the charts below. Perhaps reflecting optimism around the strength of the economy coming out of COVID restrictions, a shift to value stocks was triggered in January, with property generalists and retail-focused companies the beneficiaries. Hammerson […]
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07 Jan 2022 9 min read
QuotedData’s Real Estate Roundup – January 2022
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data December’s biggest movers in price terms are shown in the charts below. The year of 2021 ended with positive news that the Omicron variant was less serious than first thought, resulting in a lockdown over the Christmas-trading period being avoided. It was Home REIT […]
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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 Sep 2021 9 min read
QuotedData’s Real Estate Roundup – September 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data August’s biggest movers in price terms are shown in the chart below. Traditionally a quiet month, August was anything but for property companies. While takeovers, IPO activity and large investment deals dominated the headlines, Tritax Big Box REIT continued its impressive performance. After reporting […]
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15 Jul 2021 8 min read
QuotedData’s Real Estate Quarterly Review – second quarter 2021
Value hunters boost property The easing of lockdown restrictions throughout the quarter saw property companies stage somewhat of a comeback from the depths of the pandemic, despite ‘freedom day’ being delayed into July. The potential for an economic bounce in the second half of the year is growing and generalist real estate investment trusts (REITs), […]
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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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14 Apr 2021 11 min read
QuotedData’s Real Estate Roundup – April 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data March’s biggest movers in price terms are shown in the chart below. Drum Income Plus REIT saw its share price rally 75% in March following the announcement that its board was undertaking a strategic review to consider the future of the company, which it […]
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08 Mar 2021 10 min read
QuotedData’s Real Estate Roundup – March 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data February’s biggest movers in price terms are shown in the chart below. The roadmap out of lockdown and the impressive vaccination programme in the UK has lifted confidence in a swift economic recovery and triggered a shift to value stocks. Property companies on significant […]
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17 Dec 2020 12 min read
QuotedData’s Real Estate Roundup – December 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data November’s biggest movers in price terms are shown in the chart below. The eagerly awaited news of a successful vaccine candidate came at the start of November, boosting the stock market. Property companies that had seen their share price battered over the past eight […]
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12 Nov 2020 9 min read
QuotedData’s Real Estate Roundup – November 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data October’s biggest movers in price terms are shown in the chart below. October finished with the threat of a second lockdown looming over the UK as COVID-19 cases continued to rise. However, this did not dampen demand for shares in some of the companies […]
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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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13 Aug 2020 9 min read
QuotedData’s Real Estate Monthly Roundup – August 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data July’s biggest movers in price terms are shown in the chart below. A number of REITs and property companies saw big share price gains over the month of July as covid-19 restrictions started to ease across the UK and greater economic stimulus was revealed. […]
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08 Jun 2020 8 min read
QuotedData’s Economic Roundup – June 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen 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 you to buy or sell […]
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07 Apr 2020 11 min read
QuotedData’s Real Estate Roundup – April 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data March’s biggest movers in price terms are shown in the chart below. Property stocks took a hammering in March as the covid19 pandemic took hold. The UK was put on lockdown to stop the spread of the coronavirus resulting in the enforced closure of […]
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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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13 Nov 2019 8 min read
QuotedData’s Real Estate Roundup – November 2019
Real Estate Roundup Performance data October’s biggest movers in price terms are shown in the chart below. For the second month running, Capital & Regional topped the list for share price growth: up 30.5% in the month – admittedly off a low base. The shopping centre landlord’s shares continued to rise after it agreed a […]
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05 Jul 2019 3 min read
QuotedData’s investment companies roundup – July 2019
Investment Companies Roundup New research Over June, we published notes on CQS Natural Resources Growth and Income, Standard Life Private Equity and Shires Income. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – there was a greater appetite for risk in June as […]
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07 Jun 2019 5 min read
QuotedData’s economic roundup – June 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen 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 you to buy or sell any of the […]
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13 Nov 2018 1 min read
QuotedData’s investment companies roundup – November 2018
QuotedData’s investment companies roundup – November 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2018. Kindly sponsored by Baillie Gifford. Winners and losers in October In what was generally a miserable month for equity markets, Brazil shone […]
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11 Jul 2018 1 min read
QuotedData’s investment companies roundup – July 2018
QuotedData’s investment companies roundup – July 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2018. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised and returned in June Newcomer to the market, Yew Grove […]
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11 Jun 2018 2 min read
QuotedData’s Economic round up – June 2018
QuotedData’s Economic round up – June 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen 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 you to buy or […]
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1 min read
QuotedData’s investment companies roundup – June 2018
QuotedData’s investment companies roundup – June 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2018. Kindly sponsored by Baillie Gifford. The premium of biotech company, Syncona, rose on positive news on two of its […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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11 Dec 2017 2 min read
QuotedData investment companies roundup – December 2017
QuotedData investment companies roundup – December 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2017. Kindly sponsored by Baillie Gifford. December Investment Companies Roundup Money raised and returned in November There were no […]
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10 Nov 2017 1 min read
QuotedData investment companies roundup – November 2017
QuotedData investment companies roundup – November 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2017. Kindly sponsored by Baillie Gifford. November Investment Companies Roundup Globalworth Real Estate’s discount was eliminated after it announced […]
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12 Oct 2017 1 min read
QuotedData investment companies roundup – October 2017
QuotedData investment companies roundup – October 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2017. Kindly sponsored by Baillie Gifford. October Investment Companies Roundup Amongst the top performers, Alternative Liquidity Fund sold its […]
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14 Sep 2017 1 min read
QuotedData investment companies roundup – September 2017
QuotedData investment companies roundup – September 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2017. Kindly sponsored by Baillie Gifford. September Investment Companies Roundup Winners and losers in August Ashmore Global’s […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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14 Jun 2017 1 min read
QuotedData investment companies roundup – June 2017
QuotedData investment companies roundup – June 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2017. Kindly sponsored by Baillie Gifford. June Investment Companies Roundup Japan was one of the best places to be […]
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16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
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10 Apr 2017 1 min read
QuotedData investment companies roundup – April 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. April Investment Companies Roundup
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
News
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29 Feb 2024 2 min read
QuotedData’s morning briefing 29 February 2024 – NESF, LXI, SRE, JUGI
In QuotedData’s morning briefing 29 February 2024: NextEnergy Solar Fund (NESF) has provided a quarterly NAV and operational update for the three months ending 31 December 2023. As of the year end, its NAV per share was 107.7p, equal to a total NAV of £636.4m. This represented a fall in NAV over the three months, […]
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23 Feb 2024 3 min read
QD view – Still a place for the generalist REIT?
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 […]
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19 Jan 2024 2 min read
QD view – the REIT entry point
The start of a new year often brings optimism and that was certainly the case in the real estate sector as inflation around the world continued its downward trajectory, raising the prospect of interest rate cuts this year. That optimism, which had seen share prices among the UK listed property companies jump 15.5% over the […]
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12 Jan 2024 1 min read
QuotedData’s weekly news update 12th January 2024
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Atrato Onsite Energy (0:22) • LXi/LMP merger (9:57) This week’s interview was with Tim Levene from Augmentum – watch it again here.
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11 Jan 2024 3 min read
LXi and LMP agree on merger terms
The boards of LondonMetric and LXi have reached agreement on the terms of a recommended all-share merger. LondonMetric will acquire the entire issued and to be issued ordinary share capital of LXi as the merger is effected by means of a scheme of arrangement under Part 26 of the Companies Act. Each LXi shareholder will […]
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22 Dec 2023 3 min read
QD – review of the year
This is the last of our weekly emails for 2023. We hope that you have been finding them useful. We will be publishing our annual roundup in January. Ahead of that however, I thought it might be worth pulling out a few of the year’s highs and lows. In January, China’s market shone as hopes […]
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19 Dec 2023 1 min read
LondonMetric and LXI REIT in £3.9bn merger talks
LondonMetric Property is in talks with LXi REIT over the possible merger of the two companies. The boards of the two companies are in discussions over the deal that would see LondonMetric acquire the entire issued share capital of LXi. A merger would create a combined company with assets worth £6.4bn and a market capitalisation […]
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11 Dec 2023 1 min read
QuotedData’s morning briefing 11 December 2023 – SYNC, TMI, UKW, HGT, LXI, DNA2
In QuotedData’s morning briefing for 11 December 2023: Syncona (SYNC) has provided an update on the clinical study of its portfolio company, Autolus Therapeutics. The results have indicated the strong safety profile of the drug and importantly show a durable response for patients. Taylor Maritime Investments (TMI) has released its half year results for the […]
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30 Nov 2023 1 min read
QuotedData’s morning briefing 30 November 2023 – RC2, CTUK, LXI
In QuotedData’s morning briefing 30 November 2023: Following the passing of a resolution at its AGM yesterday, Reconstruction Capital II (RC2) will have its last day of dealings on AIM on 18 December 2023. CT UK Capital and Income (CTUK) published results for the 12 months ended 30 September 2023 that show it just failing […]
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22 Nov 2023 1 min read
LXI REIT agrees deal to sell Travelodge portfolio for £210m
LXI REIT is close to selling a portfolio of Travelodge hotels for £210m. The deal is under offer, with contracts in solicitors’ hands, on the sale of the 66 Travelodge hotels. The sale price of £210m is in line with current book value (as at 30 September 2023), the company said. If completed, the majority […]
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06 Sep 2023 1 min read
QuotedData’s morning briefing 6 September 2023 – AGA, LXI, PHP
In QuotedData’s morning briefing for 6 September: Apax Global Alpha Limited (AGA) announced its results for the six months to 30 June 2023. Total NAV Return was 2.4%. Overall performance was supported by growth in the Private Equity portfolio and strong returns from the company’s debt investments. In Private Equity, Total NAV Return was 1.9% […]
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09 Jun 2023 2 min read
QuotedData’s morning briefing 9 June 2023
In QuotedData’s morning briefing 9 June 2023: International Public Partnerships (INPP) has reached financial close on its acquisition of five New Zealand availability revenue-based social infrastructure investments (as announced on 9 December 2022), following regulatory approval from New Zealand’s Overseas Investment Office (‘OIO’). These are INPP’s first New Zealand investments and the c.NZD 218m (c.£108m) […]
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07 Jun 2023 3 min read
LXI REIT seeing benefits of merger, bullish on outlook
LXI REIT has reported its first results since its merger with Secure Income REIT, showing “material cost savings” feeding through to earnings growth. EPRA earnings per share (EPS) was up 36.1% to 8.3p (31 March 2022: 6.1p), while adjusted cash EPS was up 17.5% to 6.7p for the year (31 March 2022: 5.7p). This fully […]
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13 Apr 2023 1 min read
QuotedData’s morning briefing 13 April 2023
In QuotedData’s morning briefing 13 April 2023: Round Hill Music (RHM) had FTI Consulting produce another independent valuation report on its portfolio. The FTI Report supports the valuation as at 31 December 2022, prepared by the company’s original independent valuer, Citrin Cooperman. FTI comes up with two weighted average discount rates: one assumes the use […]
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06 Mar 2023 3 min read
QuotedData’s morning briefing 6 March 2023
In QuotedData’s morning briefing for 6 March 2023: Life Settlement Assets (LSAA) has announced that it has received federal approval for the sale of the portfolio of life policies to Acheron Portfolio Trust. The portfolio was sold for a gross consideration of $24m, with transaction costs estimated to be $5m. Castelnau Group Limited (CGL) has […]
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03 Mar 2023 4 min read
QD view – Discounts – time to get serious?
The chart below shows how the median discount of share price to net asset value (NAV) across the whole London-listed investment companies market has moved since the start of 2021. What we see is a big lurch downwards around the outbreak of the war in Ukraine. Then a steady widening over the next few months […]
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14 Dec 2022 2 min read
LXI REIT extends leases of 122 Travelodge hotels
LXI REIT has renegotiated the leases of the 122 Travelodge hotels, extending the weighted average lease length by a further nine years. The portfolio of hotels was acquired by LXI as part of the Secure Income REIT merger. In return for the nine year extensions (which extends the weighted average unexpired lease term to first […]
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23 Sep 2022 2 min read
QD view – supermarket sweep
Supermarket real estate has proved its worth during times of distress before – most recently during the pandemic – but can it do it again this time around as we enter a potential recession? Supermarket Income REIT (SUPR), the largest supermarket landlord in the UK, and LXI REIT are both nailing their colours firmly to […]
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22 Sep 2022 2 min read
QuotedData’s morning briefing 22 September 2022
In QuotedData’s morning briefing 22 September 2022: Pantheon Infrastructure’s (PINT) first set of figures, covering the period from launch to 30 June 2022, show that £98m was invested at that date, but as of today £344m or 88% of the £400m IPO proceeds have been deployed. As we know, the subscription share exercise raised a […]
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21 Sep 2022 1 min read
LXI REIT considers equity raise to fund £500m Sainsbury’s portfolio buy
LXI REIT is considering an equity raise to part-fund the £500m acquisition of a portfolio of 18 Sainsbury’s supermarkets. The group said that it was currently in discussions to acquire from Sainsbury’s, on a sale and leaseback basis, the 18-strong portfolio of prime grocery store assets, which are predominantly located in Southern England locations, but […]
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06 Sep 2022 2 min read
LXI REIT sells “income strip” on Thorpe Park and Alton Towers for £257m
LXi REIT has sold a 65-year “income strip” on its Thorpe Park and Alton Towers assets to an institutional investor for £257m. As part of the deal, the company has sold the freehold in the properties to the buyer, with 999-year leases granted back to the company, with LXI paying the buyer an annual aggregate […]
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07 Jun 2022 2 min read
LXI REIT reports 18.2% NAV total return in annual results
LXI REIT has reported a NAV total return of 18.2% in the year to 31 March 2022. The company, which is currently going through the process of a merger with Secure Income REIT, has delivered an annualised NAV total return of 11.2% per annum since its launch – comfortably ahead of its 8% per year […]
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13 May 2022 1 min read
QuotedData’s weekly news show 13th May 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew and Richard Williams covered the week’s top stories: JLEN Ecofin US Renewables Infrastructure Trust Bluefield Solar Shaftesbury Capital and Counties LXI Reit Secure Income REIT This week’s interview was with […]
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11 May 2022 3 min read
LXI REIT and Secure Income REIT to merge
LXI REIT and Secure Income REIT have agreed terms on a merger that would see LXI acquire the entire share capital of Secure Income. Under the terms of the merger, each Secure Income shareholder will receive 3.32 new LXI shares per one Secure Income share. The deal would see the combined company have net assets […]
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14 Feb 2022 2 min read
LXI REIT splashes £87m on nine assets
LXi REIT has made nine acquisitions for £87m as it continues to deploy the proceeds from its recent £250m equity capital raise. The acquisitions, which have been transacted predominantly on an off-market basis with seven different vendors/developers, reflect a 5.1% net initial yield. The assets: Co-op Group convenience stores The company has acquired three convenience […]
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10 Feb 2022 2 min read
QuotedData’s morning briefing 10 February 2022
In QuotedData’s morning briefing 10 February 2022: Odyssean’s (OIT) response to yesterday’s announcement by Strategic Equity Capital is that it “believes that the SEC Proposals represent a missed opportunity to create a leading and growing, premium investment trust of greater scale differentiated from the wider UK small cap sector.” There’s no indication that it intends […]
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09 Feb 2022 2 min read
QuotedData’s morning briefing 9 February 2022
In QuotedData’s morning briefing 9 February 2022: NextEnergy Solar (NESF) has announced an interim dividend of 1.79 pence per ordinary share for the quarter ending 31 December 2021, to be paid on 31 March 2022. NESF will also be offering shareholders a scrip dividend alternative to this, with a reference price to be announced on […]
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18 Jan 2022 2 min read
LXI REIT targeting £125m fund raise
LXi REIT is looking to raise £125m in a proposed issue of new ordinary shares through a subsequent placing, open offer, offer for subscription and intermediaries offer under its share issuance programme. The group will target the issue of 88,261,608 new shares at an issue price of 142 pence, representing a premium of 2.9% to […]
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16 Dec 2021 1 min read
LXI REIT swoops for £58.9m Sainsbury’s supermarket
LXi REIT (LXI) has acquired a Sainsbury’s supermarket in Middlesbrough for £58.9m. The purchase of the asset will be satisfied through the issue of just over 35.7m new shares in the company at 145p and a further £7m in cash. The seller, Laxmi Nivaria, is an existing long-term shareholder of the company and has agreed […]
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20 Aug 2021 2 min read
QD view – Urban vibes
August has traditionally been a quiet month for property investment deals, as fund managers recharge their batteries ahead of a customary bumper final quarter of the year. Not this year, seemingly, with several high-profile deals going through in the last couple of weeks. For instance, LondonMetric sold a ‘big box’ warehouse for £102m earlier this week […]
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2 min read
LXi REIT announces £80m of acquisitions
LXi REIT has acquired three long-let property assets for a total of £80m, reflecting an accretive 5.25% average net initial yield, as it deploys the proceeds of its £100m equity raise in July. The three assets – a biotech campus in York, TV studios in Glasgow and a recycling facility in Aberdeen – have a […]
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01 Jul 2021 3 min read
QuotedData’s morning briefing 1 July 2021
In QuotedData’s morning briefing 1 July 2021 LXi REIT (LXI) has raised gross proceeds of £100m as part of its placing after announcing its intention to raise £75m on 24 June. The placing was significantly oversubscribed and therefore a scaling back exercise was implemented. A further £4m of gross proceeds pursuant to the PrimaryBid offer was […]
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30 Jun 2021 2 min read
QuotedData’s morning briefing 30 June 2021
In QuotedData’s morning briefing 30 June 2021: International Public Partnerships is looking to raise money by issuing shares at 165p, a 15% premium to the end December 2020 NAV (adjusted for the 3.68p dividend declared since). The company has £56m of drawings on its debt facility and upcoming investments worth about £100m, including its investment in […]
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24 Jun 2021 1 min read
LXI REIT returns to market for £75m raise
LXI REIT has announced its intention to raise £75m through the issue of new shares. The issue price of 133p per share reflects a 2.3% premium to the company’s estimated IFRS net asset value (NAV) of 130p at 1 June 2021 and a discount of 7.9% to its closing share price of 144.4p. The proceeds […]
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10 Jun 2021 2 min read
LXI forward funds £19m garden centre
LXI REIT has exchanged contracts on the forward funding acquisition of a 94,000 sq ft garden centre in Reading for £19m, reflecting an accretive 5.3% net initial yield. The property is pre-let to Dobbies, the UK’s largest garden centre operator and an existing tenant of the company, on a new 35-year lease, with no break […]
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04 May 2021 1 min read
LXI REIT on the acquisition trail
LXi REIT has acquired an Aldi foodstore and a Dobbies garden centre for a total of £24m, as it continues to build its long-income portfolio. The acquisitions, which were acquired off-market, have an average net initial yield of 5.45%, a long average unexpired lease term to first break of 29 years and 100% of the income […]
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2 min read
QuotedData’s morning briefing 4 May 2021
In QuotedData’s morning briefing 4 May 2021: Syncona (SYNC) has provided an update on investee company Gyroscope Therapeutics’ proposed IPO in the US. SYNC says that Gyroscope has filed an amended registration statement on Form F-1 with the US SEC, which relates to a proposed IPO in the US of its American Depositary Shares (ADS), with […]
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29 Mar 2021 2 min read
LXI REIT buys seven foodstores for £85m
LXI REIT has acquired seven grocery stores for £85m, in the first step in deploying the proceeds of its £125m capital raise earlier this month. The acquisitions comprise both pre-let forward fundings and built investments and have an average net initial yield of 5.25%. Together, the assets have a long average unexpired lease term to first […]
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12 Mar 2021 1 min read
QuotedData’s weekly news show 12 March 2021
QuotedData’s weekly news show 12 March 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, Richard Williams covered the week’s top stories: LXI REIT raised 125 m in oversubscribed issue Tritax Big Box REIT results Home REIT fully deployed IPO […]
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11 Mar 2021 2 min read
QuotedData’s morning briefing 11 March 2021
In QuotedData’s morning briefing 11 March 2021 LXI REIT’s share issue was significantly oversubscribed. The company upped the amount raised from the initial £75m target to £125m. It will issue 100,401,606 shares at 124.5p. Secured Income Fund, which is in the throes of organising a return of capital to its shareholders, says it will up 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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16 Feb 2021 1 min read
LXI REIT looks to grow
LXI REIT looks to grow – LXI REIT hopes to raise £75m by way of an initial placing, open offer, offer for subscription and intermediaries offer for a target issue of up to 60,164,539 new ordinary shares at an issue price of 124.5p. The issue price represents a premium of 2.3% to the estimated NAV as at […]
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12 Feb 2021 2 min read
QD view – Cheers to the property dividend hikes
After witnessing the anguish of property companies slashing dividends left, right and centre, at the start of the pandemic last year, it is encouraging to see news of dividend hikes now filtering through. Not all companies have experienced tenant distress during the crisis, and it is good to see that investors are being rewarded with a […]
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11 Feb 2021 1 min read
QuotedData’s morning briefing 11 February 2021
In QuotedData’s morning briefing 11 February 2021: Schroder European Real Estate says that at its Metromar shopping centre in Seville (which it owns in a 50/50 joint venture) one of the fashion anchor tenants will exercise its lease termination right. This termination accounts for approximately 3,000 sqm (14%) of the total space. The rent due will continue […]
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26 Jan 2021 1 min read
LXI REIT reports rise in portfolio value
LXI REIT has reported a 1.7% rise in the value of its long-income property portfolio in the quarter to the end of December 2020. The group said its portfolio had been independently valued at £907.25m. It said the increase was mainly down to its large exposure to the industrial and foodstore sectors, which are benefitting […]
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18 Jan 2021 1 min read
LXI REIT collects 96% of rent and increases dividend
LXI REIT has increased its quarterly dividend guidance on the back of strong rent collection figures for the first quarter of 2021. It has received 96% of rent, which increases to 98% on receipt of rent deferrals agreed with tenants. As a result of the robust rent collection figures, it has increased its dividend target to […]
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26 Nov 2020 3 min read
LXi buys store portfolio
LXi buys store portfolio – LXi REIT reports the acquisition of 11 foodstores and two discount stores from five different vendors/developers for a total cost of £61m. The stores have been acquired at an average net initial yield of 5.7% (net of acquisition costs) and with a strong and diversified tenant base in the form of Aldi, […]
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23 Nov 2020 1 min read
Hotels and leisure assets weigh on LXI REIT
LXI REIT has reported a 2.9% fall in EPRA net tangible assets (NTA) in half-year results, as the value of its hotel and leisure portfolio took a hit during the pandemic. The company, which specialises in inflation-protected long income real estate, posted an EPRA NTA of 120.8p at 30 September 2020, compared to 124.3p at […]
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05 Nov 2020 1 min read
QuotedData’s morning briefing 5 November 2020
In QuotedData’s morning briefing 5 November 2020, as it looks as though Joe Biden is on his way to the White House: JPMorgan Emerging Markets reminds us that, if shareholders approve at today’s AGM, its shares will be split on a 10 for one basis from tomorrow morning. Shareholders should note that this should not change […]
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03 Nov 2020 1 min read
QuotedData’s morning briefing 3 November 2020
In QuotedData’s morning briefing 3 November 2020 Finally, Waterfall has made its offer to investors in Alternative Credit Investments (ex P2P/Pollen Street Secured Lending). The bid is at 870p per share in cash plus a 12p dividend. It values the fund at £639.2m. This is a 6.3% discount to NAV. The bid is recommended by ACI’s […]
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20 Oct 2020 1 min read
LXI REIT shuffles portfolio with series of transactions
LXi REIT has sold three assets for £17m and recycled the proceeds into the acquisition of two foodstores for £15m. The group has sold its sole office, a long-let property in Cambuslang, Glasgow occupied by the local council, for £8m, reflecting a yield of 4.2%. It has also disposed of a portfolio of 11 long-let social […]
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05 Oct 2020 1 min read
LXI REIT reports 6% increase in dividend
LXI REIT has announced a 6% increase in its quarterly dividend having collected 97% of rents so far for the current quarter. The company, which owns a portfolio of long-let, index-linked property, has increased the dividend guidance to 1.44 pence per share for the quarter ending December 2020. It said the dividend is expected to […]
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17 Sep 2020 1 min read
QuotedData’s morning briefing 17 September 2020
In QuotedData’s morning briefing 17 September 2020 LXI REIT says that “following robust rent collection for the quarter ending September 2020“, it is increasing its quarterly dividend guidance by 4% to 1.35p per share (from 1.30p per share). Supermarket Income REIT is looking for more money. The aim is to issue £150m worth of shares at […]
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24 Jul 2020 1 min read
LXi REIT sells social housing assets and forward funds Lidl foodstore
LXI REIT has announced that it has sold two portfolios of long-let social housing assets for £10.7m, and has exchanged contracts on the pre-let forward funding acquisition of a Lidl foodstore in Barnard Castle, County Durham for £7.5m. Disposal of social housing asset portfolios The sales, to two separate social infrastructure funds, reflect a 5.25% […]
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1 min read
QuotedData’s morning briefing 24 July 2020
In QuotedData’s morning briefing 24 July 2020: Stenprop has provided the market with a trading update for the second quarter of 2020 to the market. It says that it has now collected 93% of the rent due at the end of March, and 84% of the rent due at the end of June. We have also […]
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02 Jul 2020 1 min read
QuotedData’s morning briefing 2 July 2020
In QuotedData’s morning briefing 2 July 2020: Schroder Oriental Income Fund says that shareholders overwhelmingly approved a resolution to shift the fund’s tax domicile from Guernsey to the UK. 99.78% of those voting approved the measure. The company should soon become a UK investment trust. Under fire Gabelli Value Plus+ reported a 25% fall in NAV […]
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04 Jun 2020 2 min read
Travelodge updates from LXI and Secure Income
Travelodge updates from LXI and Secure Income Following on from our earlier stories, LXI REIT says it owns 12 hotels let or pre-let to Travelodge, representing 10% of the annual contracted rents, including contracted rents under agreements for lease. Two of these hotels are under construction and benefit from cash-backed developer licence fees and a further […]
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18 May 2020 1 min read
LXi REIT reports 8.5% jump in NAV
LXi REIT has reported an 8.5% jump in net asset value (NAV) in full year results. The company, which owns a portfolio of inflation-protected very long income assets, saw NAV per share rise to 124.3p at the end of March 2020, compared to 114.6p last year. The jump is mainly attributable to acquisitions over the year […]
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06 Apr 2020 2 min read
LXI REIT to pay final dividend
LXI REIT has confirmed payment of its final dividend despite taking a hit on income due to the covid-19 pandemic. The company, which owns a portfolio of inflation-protected long-let property, said it expects to approve the payment of the company’s final quarterly dividend for the year ended 31 March 2020, at the rate of 1.4375 pence […]
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20 Mar 2020 3 min read
Covid-19 update from property companies
Several property companies have updated the market on the impact of Covid-19 on their business. Here we have rounded up the latest. Yesterday we reported updates from NewRiver REIT, Schroder REIT and Civitas Social Housing. You can read them by clicking the links. QuotedData has also published a piece looking at the likely long-term impact […]
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18 Feb 2020 1 min read
LXI announces profitable exit and accretive acquisition
LXI REIT (LXI), the specialist inflation-protected very long income REIT, has announced the following profitable disposal and accretive acquisition. Disposals bring in £6.8m Following receipt of an unsolicited approach, the company says it has sold a bus storage facility in Yardley Wood, near Birmingham, let to National Express Group PLC on a long lease, to […]
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26 Nov 2019 1 min read
QuotedData’s other news 26 November 2019
In QuotedData’s other news 26 November 2019 – Schroder Real Estate (SREI) reported half-year results to 30 September 2019, with its real estate portfolio posting a total return of +2.5% over the period versus +1.0% by the MSCI/IPD Benchmark Index. There were £45 million of disposals during and post the period end. The company added that […]
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20 Nov 2019 1 min read
QuotedData’s other news 20 November 2019
In QuotedData’s other news 20 November 2019 Hansteen has bought seven multi-let industrial estates on the Newton Aycliffe industrial park in County Durham for £12m. The portfolio comprises 53 units totalling 341,620 sq ft, with individual units ranging in size from 820 sq ft to 32,648 sq ft. The contracted rental income is GBP1,094,000 a year (GBP3.55 […]
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09 Oct 2019 1 min read
LXi REIT acquires three index-linked properties for £23m
LXi REIT has made a trio of acquisitions for a total of £23m, as it puts its recently announced revolving credit facility (RCF) to work. All three properties are long-let and index-linked and reflect a weighted average net initial yield of 5.7%. The company is also close to agreeing deals for further acquisitions that would see […]
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02 Sep 2019 3 min read
LXI announces £55m of acquisitions
LXi REIT (LXI) has announced a number of acquisitions for a combined total investment of approximately £55 million. All are long-let and index linked, and the purchase price reflects a weighted average net initial acquisition yield of 5.70%. The company says that this compares favourably to its latest portfolio valuation yield of 5.13% as at […]
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22 Jul 2019 2 min read
QuotedData’s other news 22 July 2019
In QuotedData’s other news 22 July 2019: LXI REIT has agreed a new £100m revolving credit facility, provided by Lloyds Bank plc at 1.55% per annum over LIBOR. This complements the company’s existing 10-year, 12-year and 15-year term loan facilities with Scottish Widows. The new facility has an initial term of three years, which may be extended by […]
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19 Jul 2019 3 min read
LXi REIT completes six acquisitions and fully deploys proceeds from £200m capital raise
LXi REIT (LXI) has announced that it has completed six, long-let, index-linked acquisitions from separate developers and vendors. The combined total investment of approximately £55m reflects a weighted average net initial acquisition yield of 5.83% (net of acquisition costs). Following these purchases (and those it previously announced on 25 June 2019), the company says that […]
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25 Jun 2019 3 min read
LXi REIT completes £135m of acquisitions
LXi REIT has announced that, following the completion of its £200m equity fundraising that was announced on 13 June, it has completed a number of acquisitions for a combined total investment of approximately £135 million. The company says that this reflects a weighted average net initial acquisition yield of 5.7% (net of acquisition costs). The […]
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13 Jun 2019 1 min read
QuotedData’s other news 13 June 2019
In QuotedData’s other news 13 June 2019 – Augmentum Fintech made follow on investments totalling £8.5m in three of its portfolio companies – Tide, Monese and Duedil. BBGI has topped up its investment in the A1/A6 road project in the Netherlands. The project was part of the Schiphol-Amsterdam-Almere expansion and involved the reconstruction and widening of a […]
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20 May 2019 1 min read
QuotedData’s other news 20 May 2019
John Laing Environmental Assets Group (JLEN) has announced the appointment of Hans Joern Rieks as a non-executive director of the company, commencing 13 June 2019. LXi REIT (LXI), the specialist inflation-protected very long income REIT, has reported annual results for the year ended 31 March 2019. LXI’s leases are typically 20 to 30 years to expiry […]
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26 Apr 2019 2 min read
QuotedData’s other news 26 April 2019
Gresham House Energy Storage has announced that it believes it will be fully invested by the end of the year. It is seeking to issue up to 75m new shares via a placing. Cantor Fitzgerald are running this, the closing date is 3pm on 24 May, the price is 101p – a premium to NAV […]
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11 Apr 2019 1 min read
AEW UK Long Lease REIT considering future
AEW UK Long Lease REIT considering future – The board of AEW UK Long Lease REIT served notice on its manager and announced a strategic review yesterday. “In view of the sub-scale size of the group, its performance since IPO, and the recent news in respect of Meridian Metal Trading Limited, the board is reviewing […]
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25 Feb 2019 2 min read
Urban Logistics REIT tweaks investment policy to fund new Staffordshire and Leicestershire assets
Urban Logistics REIT has announced that it has exchanged contracts with Carbide Properties Limited, conditional on receipt of planning permission, for the forward funding of two high-quality urban logistics assets at Staffordshire’s Stone Business Park and Leicestershire’s Lime Kilns Business Park in Hinckley. The gross development value of the total acquisition is £15.4 million and […]
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2 min read
LXi REIT buys Bupa care home in Bristol for £13.8m
LXi REIT has announced that it has acquired a Bupa care home in Bristol for £13.8m. The Property, comprising a modern, high quality care facility providing nursing and residential care predominantly for privately funded patients, and reportedly benefits from high underlying occupancy levels. The purchase was conducted off-market and has been funded using the Company’s […]
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28 Jan 2019 3 min read
LXi announces clutch of deals including supported living sale
LXi announces clutch of deals including supported living sale – LXi REIT has exchanged contracts to provide forward funding for the pre-let development of a Travelodge hotel at Gosport in Hampshire for GBP6.6 million, reflecting a 5.7% net initial yield. The 70 bedroom hotel has been fully pre-let to Travelodge Hotels Limited, the principal trading company of […]
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07 Jan 2019 3 min read
LXI swaps Travelodges for industrial sites
LXI swaps Travelodges for industrial sites – LXi REIT has, following an unsolicited approach, sold two of its older Travelodge hotels, in Haverhill and Ipswich, to an institutional buyer for £12.6m. This translates as a low exit yield of 5.0%, which compares favourably to the acquisition yields of 5.92% and 6.12% paid in March and July 2017, […]
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13 Nov 2018 2 min read
LXi REIT has made six new property acquisitions
LXi REIT has made six new property acquisitions- LXi REIT has purchased six new properties with total consideration of £62.4 million (excluding costs). This has the companies £175 million equity raise on 12 October 2018 fully deployed. All six properties are 100% linked to the retail price index. The weighted average unexpired lease terms to […]
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24 Oct 2018 4 min read
LXi REIT deploys £109m
LXi REIT deploys £109m – LXi REIT recently raised £175m from investors and today it has announced five deals that will deploy £109m of this. The company says it is in solicitors’ hands on further acquisitions which will fully deploy the balance in the next few weeks. Further acquisition announcements will be made shortly. BCA logistics facility, […]
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03 Oct 2018 2 min read
Another registered provider being reviewed by regulator
Another registered provider being reviewed by regulator – on 18 September 2018 the Regulator of Social Housing published a ‘Grading under review notice’ on Trinity Housing Association Limited. The notice says that “Trinity Housing Association Limited does not currently have a regulatory judgement as it previously held less than 1,000 homes. We are investigating a […]
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07 Mar 2018 1 min read
LXi increases dividend target
LXi increases dividend target – The board of LXi REIT (LXI) has announce that the Company has increased its dividend target. The target is being introduced over two time periods. The first one is from the IPO (27 February 2017) to 31 March 2018, when the target total dividend has been increased by 33.3% to 4.0 pence per […]
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12 Feb 2018 2 min read
LXi fully invested again after social housing deal
LXi fully invested again after social housing deal – LXi REIT has exchanged contracts on the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Colchester, Essex (74%), Birmingham (17%) and Dover, Kent (9%). The purchase price for this portfolio is GBP6.2 million, reflecting a net initial yield of […]
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05 Feb 2018 1 min read
LXI buys Stobart biomass storage and processing plant
LXI buys Stobart biomass storage and processing plant – The board of LXi REIT says that the company has acquired the freehold interest in the Stobart biomass storage and processing plant in Rotherham, Yorkshire in a sale and leaseback transaction. The purchase price for the property is GBP3.4 million, reflecting a net initial yield of 6.2% (net of acquisition […]
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15 Jan 2018 2 min read
LXI REIT dips into student accommodation with Dundee purchase
LXI REIT dips into student accommodation with Dundee purchase – LXI REIT, which is building an eclectic and diversified property portfolio, has acquired a long-let student accommodation scheme in Dundee. The purchase price is GBP20.25 million, reflecting a net initial yield of 6.3% (net of acquisition costs). The property is fully let to Mears Group PLC, […]
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13 Nov 2017 2 min read
LXi REIT forward funds East Midlands Premier Inn Hotel
LXi REIT has announce that it has exchanged contracts on the pre-let forward funded acquisition of a new Premier Inn hotel in the East Midlands. The total funding commitment is £6.9 million, reflecting a net initial yield of 5.20% (net of acquisition costs to the Company), and the acquisition is being funded from equity resources […]
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06 Nov 2017 2 min read
LXi invests more in care homes and supported living properties
LXi invests more in care homes and supported living properties – LXi REIT has announced the acquisition of two separate portfolios of care homes and supported living properties for a total consideration of GBP30.3 million. Each of the portfolio acquisitions is being funded from equity resources following the second issue of shares on 12 October, with […]
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18 Oct 2017 1 min read
LXi funds Lidl in Chard
LXi funds Lidl in Chard – LXi REIT has exchanged contracts to provide forward funding for the development of a new food store in Chard, Somerset, pre-let to Lidl UK GmbH. The development represents an investment of GBP5.5 million, reflecting a net initial yield of 5.75% (net of acquisition costs). The property will comprise a […]
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08 Sep 2017 2 min read
LXi REIT buys another supported living portfolio
LXi REIT buys another supported living portfolio – LXi REIT has exchanged contracts on the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located across England. The purchase price is GBP12.9 million, reflecting a net initial yield of 6.0% (net of acquisition costs). Each property is immediately income producing and has been […]
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21 Aug 2017 1 min read
LXi buys Motorpoint car showroom
LXi buys Motorpoint car showroom – The Board of LXi REIT has announced that the company has acquired the Motorpoint car showroom in Burnley, Lancashire. The purchase price for the Property is GBP5.7 million, reflecting a net initial yield of 6.5% (net of acquisition costs), which is expected to rise to over 7.0% following next […]
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18 Aug 2017 1 min read
LXi buys long let supported living portfolio
LXi buys long let supported living portfolio – LXi REIT has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Essex and Somerset. The purchase price for this portfolio is GBP9.2 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the company). Each […]
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15 Aug 2017 2 min read
LXi REIT buys another Premier Inn
LXi REIT buys another Premier Inn – LXi REIT has exchanged contracts to forward purchase the new Premier Inn hotel currently under construction at Wilson Street, Middlesbrough. The purchase price is GBP6.2 million, reflecting a net initial yield of 5.1% (net of acquisition costs). They have paid the vendor a 10% deposit with the balance […]
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1 min read
Investment Trust Insider on LXi REIT
This week’s topic is LXI Reit (LXI), one of a small band of real estate investment trusts whose raison d’etre is they invest in assets let on long leases. The first to launch in 2014 and by far the largest with a market value of £823 million is Secure Income Reit (SIR). It owns properties that […]
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10 Aug 2017 1 min read
LXi REIT buys three Northern Irish Priory Care homes
LXi REIT buys three Northern Irish Priory Care homes – LXi REIT has acquired the freehold interest in two Priory Group care homes in Northern Ireland and exchanged contracts to acquire a third Priory Group care home for a total portfolio consideration of GBP14.9 million, reflecting a net initial yield of 6.5% (net of acquisition […]
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01 Aug 2017 1 min read
LXi REIT fully invested looks to gear up
LXi REIT fully invested looks to gear up – The Board of LXi REIT has announced that the company has now fully deployed the net proceeds of its GBP138 million IPO since listing on 27 February 2017. They are also in solicitors’ hands on additional acquisitions which will fully absorb the GBP55 million debt finance to […]
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13 Jul 2017 1 min read
LXi has invested 90% of issue proceeds
LXi has invested 90% of issue proceeds – The Board of LXi REIT has announced that the company has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Surrey, Somerset and Leicestershire. The purchase price is GBP5.0 million, reflecting a net initial yield of 6.0% (net of acquisition […]
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04 Jul 2017 1 min read
LXi REIT gets loan facility
LXi REIT gets loan facility – the Board of LXi REIT plc says the company has signed a 12-year, fixed rate, interest only loan facility of GBP55 million with Scottish Widows, acting in partnership with Lloyds Bank Commercial Real Estate. The Facility is repayable on 3 July 2029 and has a fixed all-in rate payable […]
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21 Jun 2017 2 min read
LXi REIT acquires Kent, West Sussex and Gloucestershire supported living portfolio for £3.2m
LXi REIT has announced that it has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Kent, West Sussex and Gloucestershire. The purchase price for the Portfolio is £3.2 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the Company). Lxi REIT […]
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16 Jun 2017 2 min read
LXi REIT acquires Yorkshire supported living portfolio for £3.8m
LXi REIT has announced that it has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Yorkshire. The purchase price for the Portfolio is £3.8 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the Company). The company says that the properties […]
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05 Jun 2017 1 min read
LXi REIT buys Leeds care home
LXi REIT buys Leeds care home for £8.4m. The Board of LXi REIT has announced that the company has exchanged contracts to acquire the Priory Care Home, Leeds for GBP8.4 million, reflecting a net initial yield of 6.3% (net of acquisition costs to the company). The Property is fully let to Priory Elderly Care Limited […]
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02 Jun 2017 2 min read
LXi REIT acquires SIG manufacturing facility at Welton, Carlisle, for £9.3m
LXi REIT has announced that it has acquired the SIG manufacturing facility at Welton, in a sale and leaseback transaction, for a purchase price for the Property is £9.3 million, reflecting a net initial yield of 7.0% (net of acquisition costs to the Company). The acquisition is being funded from equity resources, with senior debt […]
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16 May 2017 2 min read
LXi is funding a Travelodge development in Swindon
LXi REIT has exchanged contracts to provide forward funding for the development of a new Travelodge hotel, drive-through Starbucks coffee shop and drive-through Subway restaurant in Swindon, Wiltshire. The cost to LXi is GBP8.28 million, reflecting a net initial yield of 5.8% on the net cost. When complete (target June 2018) the new development will comprise: a 70 […]
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05 May 2017 2 min read
LXi funds new discount retail park in Bradford
The Board of LXi REIT has exchanged contracts to provide forward funding for the development of a new discount retail park in Bradford, Yorkshire, pre-let to Aldi and T. J. Morris Limited (trading as Home Bargains). The development represents an investment of GBP10 million, reflecting a blended net initial yield of 6.15% on the asset […]
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24 Apr 2017 2 min read
LXi REIT buys Cambridge Belfry Hotel
Lxi REIT has acquired the Cambridge Belfry Hotel at Cambourne, Cambridge. The purchase price for the Property is GBP18.53 million, reflecting a net initial yield of 6.1% on the asset acquisition (net of acquisition costs). The property is fully let to Marstons Hotels Limited and guaranteed by its parent, QHotels Holdings Limited. QHotels is a […]
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11 Apr 2017 2 min read
LXi building portfolio
The Board of LXi REIT has announced that: the Company has exchanged contracts to forward purchase the new Premier Inn hotel and Beefeater restaurant currently under construction at Spanish City Promenade, Whitley Bay, North Tyneside (the “Premier Inn Property”); and the Company has now completed on the acquisitions of the GE Oil & Gas facility […]
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22 Mar 2017 2 min read
LXI REIT acquires Haverhill Travelodge in Essex
LXI REIT has announced that it has exchanged contracts to acquire the Travelodge hotel at Haverhill in Essex, and has now completed on the pre-let forward funded purchase of the Travelodge, Starbucks and Greggs bakery development at Melksham, near Bath, the exchange of which was announced on 10 March 2017. LXI REIT says that both […]
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10 Mar 2017 2 min read
LXi REIT buys Sheffield car park
LXi REIT has exchanged contracts to acquire the Q-Park car park at Rockingham Street, Sheffield. The purchase price is GBP19.1 million (excluding purchaser’s costs), reflecting a blended net initial yield of 5.20% on the asset acquisition. The car park, which comprises 96% of the Property, is let to Q-Park Limited with a lease guarantee from […]
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27 Feb 2017 1 min read
LXi REIT lists on the London Stock Exchange raising £138m
LXi REIT has listed on the London Stock Exchange. Its IPO has raised £138.15m before costs. The company is targeting attractive inflation-protected income and capital returns through a diversified portfolio of very long-let and index-linked UK property assets. LXi REIT is targeting a minimum annual dividend of 5 pence per Ordinary Share, starting from the […]
In The Press
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08 Jan 2024 1 min read
Investment trust insider on the deal flurry at the end of 2023
Investment trust insider on the deal flurry at the end of 2023 – James Carthew: Deals flurry shows trust recovery has just begun Merger talks and proposals to liberate capital for share buybacks and investments are clear signs investment companies are pulling away from last year’s bear market. The so-called ‘Santa rally’ over November and […]
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17 May 2023 1 min read
Investment trust insider on shed investors
Investment trust insider on shed investors – Richard Williams: Property analyst Richard Williams picks out one undervalued real estate investment trust that looks attractive as bids and mergers sweep the commercial property sector. Recent bids for real estate investment trusts (Reits) at more than 40% premiums to prevailing share prices should have been a much-needed […]
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20 Jan 2023 2 min read
Investment trust bargains: how to find them and where to look in 2023
by Kyle Caldwell from interactive investor, 19th January 2023: We explain the tricks of the trade to find potential discount opportunities, and name the three areas where analysts are finding plenty of value in 2023… The first thing to point out is that while investment trust discounts offer opportunities to buy a basket of investments […]
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13 Jun 2022 1 min read
Property Potential
AIC Compass, Jennifer Hill, Friday 10 June 2022: Jennifer Hill finds four compelling reasons to invest in UK Commercial Property Investors wrote off property during the Covid-19 pandemic, often in the mistaken belief that UK commercial property trusts are chock-full of high street retail and office assets. But as the cloud of lockdown has lifted, […]
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10 May 2022 1 min read
Investment trust insider on LXI REIT
Investment trust insider on LXI REIT – James Carthew: Happy long returns to ‘eclectic’ LXI Reit LXI Reit (LXI) recently celebrated the fifth anniversary of its initial public offer (IPO). The trust launched in February 2017, raising £138m versus an original target of £200m. Any initial disappointment is presumably long behind it as the trust […]
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20 Apr 2022 1 min read
Defensives doing well
Jennifer Hill, AIC Compass, 8 April 2022: Jennifer Hill analyses the sectors delivering robust returns. Russia’s invasion of Ukraine feels symbolic, not only of a marked change in the geopolitical landscape but also of a potential regime change in investing. With oil, gas, wheat and many metals soaring in price, already-stubborn inflation is likely to […]