Overview
Urban Logistics REIT : SHED, (formerly Pacific Industrial and Logistics REIT : PILR) invests in UK based industrial and logistics properties (typically single let). Investments will be in smaller industrial and logistics properties (with an average lot value across a portfolio at acquisition of less than £10m (increased by RPI from Admission)) across the UK.
They say “By consolidating a quality, specialist platform across established regions, we will offer investors exposure to a real estate sector that offers sustainable and attractive returns. The smaller lot size market is a relatively under-invested sector with excellent fundamentals.”
you can access the company’s website here
Fundamentals
Price
Research History
-
07 Jan 2025 21 min read
Urban Logistics REIT – Discount at odds with growth plans?
Discount at odds with growth plans? A negative reaction to the UK budget sent gilt rates higher and saw investor caution return to real estate stocks. The share price weakness that followed this has seen Urban Logistics REIT’s (SHED’s) discount widen to more than 30%, which the adviser says is at odds with the sector […]
-
21 min read
Urban Logistics REIT – Discount at odds with growth plans
Discount at odds with growth plans A negative reaction to the UK budget sent gilt rates higher and saw investor caution return to real estate stocks. The recent share price weakness that followed this has seen Urban Logistics REIT’s (SHED’s) discount to net asset value (NAV) widen to more than 30%, which is at odds […]
-
21 min read
Urban Logistics REIT – Discount at odds with growth plans
Discount at odds with growth plans A negative reaction to the UK budget sent gilt rates higher and saw investor caution return to real estate stocks. The recent share price weakness that followed this has seen Urban Logistics REIT’s (SHED’s) discount widen to more than 30%, which is at odds with the sector fundamentals and […]
-
07 Nov 2024 5 min read
Urban Logistics REIT – Half year results analysis
The tide is turning Chair’s comments “Through refinancing the debt, we have strengthened the balance sheet and provided additional firepower to acquire further assets. We have deployed some of that capital into assets which not only yield more than the cost of debt, and thereby enhance EPRA EPS, but also provide ample total return opportunities […]
-
26 Apr 2024 8 min read
QuotedData’s Real Estate Quarterly Review – First Quarter 2024
Real estate quarterly report Desperately seeking a catalyst The real estate investment trust (REIT) and listed property sector seems to have been cut adrift and is desperately seeking a positive macroeconomic outlook on which investors can hang their hat and from which sentiment can grow. The first quarter of 2024 started as 2023 left off […]
-
10 Jan 2024 18 min read
Urban Logistics REIT – A re-rating candidate
Urban Logistics REIT REITs | Annual overview | 10 January 2024 A re-rating candidate If an inflexion point in the interest rates cycle has been reached, as seems to be the case, Urban Logistics REIT (SHED) is a compelling proposition. Valuations have stabilised – as evidenced by a 0.2% uplift in the value of SHED’s […]
-
18 min read
Urban Logistics REIT – A re-rating candidate
Urban Logistics REIT REITs | Annual Overview | 10 January 2024 A re-rating candidate If an inflexion point in the rates cycle has been reached, as seems to be the case, Urban Logistics REIT (SHED) is a compelling proposition. Valuations have stabilised – as evidenced by a 0.2% uplift in the value of its portfolio […]
-
18 min read
Urban Logistics REIT – A re-rating candidate
Urban Logistics REIT REITs | Annual Overview | 10 January 2024 A re-rating candidate If an inflexion point in the rates cycle has been reached, as seems to be the case, Urban Logistics REIT (SHED) appears to be an attractive proposition. Valuations look to have stabilised – as evidenced by a 0.2% uplift in the […]
-
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 […]
-
18 Aug 2023 1 min read
Interview with Richard Moffitt from Urban Logistics
In this week’s show, Richard Williams spoke to Richard Moffitt from Urban Logistics. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us on [email protected]. Additionally, if you would prefer to […]
-
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 […]
-
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 […]
-
17 May 2023 12 min read
Urban Logistics REIT – ‘Fundamentals strong’ as values stabilise
Urban Logistics REIT REITs | Update | 17 May 2023 ‘Fundamentals strong’ as values stabilise The industrial and logistics sector suffered its largest fall in value on record in the second half of 2022, even eclipsing that of the global financial crisis, as investment yields moved out rapidly to keep pace with interest rates. The […]
-
12 min read
Urban Logistics REIT – Fundamentals strong as market stabilises
Urban Logistics REIT REITs | Update | 17 May 2023 Fundamentals strong as market stabilises The industrial and logistics sector suffered its largest fall in value on record in the second half of 2022, even eclipsing that of the global financial crisis, as investment yields moved out rapidly to keep pace with interest rates. The […]
-
12 min read
Urban Logistics REIT – Fundamentals strong as market stabilises
Urban Logistics REIT REITs | Update | 17 May 2023 Fundamentals strong as market stabilises The industrial and logistics sector suffered its largest fall in value on record in the second half of 2022, even eclipsing that of the global financial crisis, as investment yields moved out rapidly to keep pace with interest rates. The […]
-
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 […]
-
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 […]
-
09 Feb 2023 7 min read
QuotedData’s Real Estate Monthly Roundup – February 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data January’s biggest movers in price terms are shown in the charts below. 2023 started positively for the property sector, with a median average share price uplift of 1.3%. A gloomy economic outlook at the end of 2022 saw many property companies’ share prices fall to substantial […]
-
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. […]
-
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 […]
-
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 […]
-
03 Nov 2022 8 min read
QuotedData’s Real Estate Roundup – November 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data October’s biggest movers in price terms are shown in the charts below. Having priced in a major write-down of portfolio valuations in the real estate sector, especially after interest rate expectations rocketed following the disastrous mini-budget at the end of September, the market seems to have […]
-
24 Oct 2022 8 min read
What the logistics is going on?
Has logistics been oversold? The sell-off of real estate investment trusts (REITs) has been breathtaking, with industrial and logistics-focused funds taking their fair share of pain. The major concern is that borrowing costs are now higher than the initial yields on their portfolios, implying an upward re-basing of property yields and a decline in portfolio […]
-
8 min read
What the logistics is going on?
Has logistics been oversold? The sell-off of real estate investment trusts (REITs) has been breath-taking, with industrial and logistics-focused funds taking their fair share of pain. The major concern is that borrowing costs are now higher than the initial yields on their portfolios, implying an upward re-basing of property yields and a decline in portfolio […]
-
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 […]
-
13 Oct 2022 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2022
Third quarter of 2022 Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Piling on the misery In the face of rising inflation, exacerbated by the war in Ukraine, central bankers have condemned for their relative inaction. However, in the third quarter of 2022, they stepped up a gear. Last month’s economic and political roundup […]
-
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 […]
-
9 min read
QuotedData’s Investment Companies Roundup – October 2022
Investment Companies Monthly Roundup Kindly sponsored by Baillie Gifford and abrdn October 2022 Monthly | Investment companies Winners and losers in September 2022 September’s median total share price return was -6.4% (+0.4% in August). The median NAV return over September was -1.2%. See Appendix 1 for a breakdown of how all the sectors have […]
-
04 Oct 2022 18 min read
Urban Logistics REIT – Long-term dynamics remain strong
Long-term dynamics remain strong Recently, Urban Logistics REIT (SHED) has fallen to a wide discount rating, as the rising cost of debt and concerns over a protracted recession have hit sentiment towards the logistics property sector. However, the long-term trends that have characterised growth in the sector remain and are even more acute in the […]
-
18 min read
Urban Logistics REIT – Long-term dynamics remain strong
Long-term dynamics remain strong Recently, Urban Logistics REIT (SHED) has fallen to a wide discount rating, as the rising cost of debt and concerns over a protracted recession appear to have hit sentiment towards the logistics property sector. However, the manager states that the long-term trends that have characterised growth in the sector remain and […]
-
18 min read
Urban Logistics REIT – Long-term dynamics remain strong
Long-term dynamics remain strong Recently, Urban Logistics REIT’s (SHED’s) share price has fallen to a wide discount rating to its net asset value (NAV), as the rising cost of debt and concerns over a protracted recession have hit sentiment towards the logistics property sector. However, the long-term trends that have characterised growth in the sector […]
-
07 Sep 2022 11 min read
QuotedData’s Real Estate Roundup – September 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data August’s biggest movers in price terms are shown in the charts below. AIM-listed small cap fund manager and investor First Property Group tops the list of best performing property companies in August. It was the only company to see a double-digit rise in its share price, […]
-
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 […]
-
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 […]
-
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 […]
-
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 […]
-
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 […]
-
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 […]
-
06 Apr 2022 15 min read
QuotedData’s Real Estate Roundup – April 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data March’s biggest movers in price terms are shown in the charts below. Property stocks generally rallied in March, perhaps due to the relative inflation hedge they can provide. There were two outliers in Dublin office specialist Hibernia REIT and small-cap South East of England landlord McKay […]
-
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 […]
-
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 […]
-
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 […]
-
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 […]
-
22 Dec 2021 11 min read
Urban Logistics REIT – In the sweet spot
In the sweet spot It has been a whirlwind few months for Urban Logistics REIT (SHED) as it continues to grow rapidly in one of the best-performing real estate sectors in the UK. The group deployed the proceeds of a July capital raise in short order and earlier this month raised a further £250m to […]
-
11 min read
Urban Logistics REIT – In the sweet spot
In the sweet spot It has been a whirlwind few months for Urban Logistics REIT (SHED) as it continues to grow rapidly in one of the best-performing real estate sectors in the UK. The group deployed the proceeds of a July capital raise in short order and earlier this month raised a further £250m to […]
-
11 min read
Urban Logistics REIT – In the sweet spot
In the sweet spot It has been a whirlwind few months for Urban Logistics REIT (SHED) as it continues to grow rapidly in one of the best-performing real estate sectors in the UK. The group deployed the proceeds of a July capital raise in short order and earlier this month raised a further £250m to […]
-
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 […]
-
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 […]
-
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 […]
-
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% […]
-
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 […]
-
10 Aug 2021 17 min read
Urban Logistics REIT – Shed load of growth to come
Shed load of growth to come Urban Logistics REIT (SHED) is pressing ahead with its ambitious growth strategy, having raised £108.3m in a placing in July 2021. This is the third successful capital raise it has made during the pandemic (totalling £336.7m), which may highlight the strength and resilience of its investment proposition. SHED is […]
-
17 min read
Urban Logistics REIT – Shed load of growth to come
Shed load of growth to come Urban Logistics REIT (SHED) is pressing ahead with its ambitious growth strategy, having raised £108.3m in a placing in July 2021. This is the third successful capital raise it has made during the pandemic (totalling £336.7m), highlighting the strength and resilience of its investment proposition. SHED is the only […]
-
17 min read
Urban Logistics REIT – Shed load of growth to come
Shed load of growth to come Urban Logistics REIT (SHED) is pressing ahead with its ambitious growth strategy, having raised £108.3m in a placing of shares in July 2021. This is the third successful capital raise it has made during the pandemic (totalling £336.7m), highlighting the strength and resilience of its investment proposition. SHED is […]
-
06 Aug 2021 10 min read
QuotedData’s Real Estate Roundup – August 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data July’s biggest movers in price terms are shown in the chart below. It was no surprise that GCP Student Living topped the table for best performing property companies in July after it received a takeover bid 30% above its share price during the month. […]
-
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), […]
-
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 […]
-
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 […]
-
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 […]
-
19 Mar 2021 1 min read
Interview with Richard Moffitt from Urban Logistics REIT
In this week’s show, Richard Williams talked to Richard Moffitt from Urban Logistics REIT. Watch it again here If you were looking for QuotedData’s roundup of the week’s news, this is now in the news section – just click here. If there is a guest speaker you’d particularly like to hear from, please email us – […]
-
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 […]
-
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 […]
-
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 […]
-
14 Jan 2021 9 min read
QuotedData’s Real Estate Roundup – January 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data December’s biggest movers in price terms are shown in the chart below. The boost of coming out of the second national lockdown in early December was short lived as Christmas was cancelled for most of the UK with COVID-19 cases spiking. It did little […]
-
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 […]
-
16 Oct 2020 8 min read
QuotedData’s Real Estate Quarterly Review – Q3 2020
Real Estate Quarterly Roundup Kindly sponsored by Aberdeen Standard Investments Toughing it out It has been another challenging quarter for the real estate sector as the COVID-19 pandemic continues to take its toll. The economy bounced back in the early part of the quarter after the national lockdown was lifted, while government schemes such as […]
-
09 Oct 2020 10 min read
QuotedData’s Real Estate Roundup – October 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data September’s biggest movers in price terms are shown in the chart below. There was an eclectic mix of property companies to feature in the top price movers for September. Top of the tree was private rented sector and residential development specialist Sigma Capital Group, […]
-
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 […]
-
16 Jul 2020 7 min read
QuotedData’s Real Estate Quarterly Review – Q2 2020
Real Estate Quarterly Roundup Kindly sponsored by Aberdeen Standard Investments A polarised lens The covid-19 pandemic continued to wreak havoc in the real estate in the second quarter, but a polarisation of sectors and funds has started to become apparent. Companies focused on the retail, leisure and hospitality property sectors had already seen huge negative […]
-
09 Jun 2020 11 min read
QuotedData’s Real Estate Roundup – June 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data May’s biggest movers in price terms are shown in the chart below. Shares in property companies took another turbulent turn during May as the covid-19 pandemic continued to wreak havoc on property assets. The biggest mover in price terms during the month was an […]
-
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 […]
-
07 May 2020 11 min read
QuotedData’s Real Estate Roundup – May 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data April’s biggest movers in price terms are shown in the chart below. Following two months of heavy falls as the covid-19 pandemic took hold and the UK was put on lockdown, many property companies saw a bounce in their share price in April, although […]
-
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 […]
-
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 […]
-
07 Feb 2020 9 min read
QuotedData’s Real Estate Roundup – February 2020
Real Estate Roundup Performance data January’s biggest movers in price terms are shown in the chart below. The sluggish start to the year for listed property companies is hardly surprising given they were coming off a high base after the “Boris-bounce” following the general election in December. Topping the list was Triple Point Social Housing […]
-
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, […]
-
20 Dec 2019 15 min read
Industrial property market – The gift that keeps on giving
Industrial property market – the gift that keeps on giving The industrial and logistics sector has been on a tremendous run over the past five years or so. It is hard to think now, given the current dynamics in the property industry, that retail and offices were the sectors of choice for investors for many […]
-
15 min read
Industrial property market – The gift that keeps on giving
Industrial property market – the gift that keeps on giving The industrial and logistics sector has been on a tremendous run over the past five years or so. It is hard to think now, given the current dynamics in the property industry, that retail and offices were the sectors of choice for investors for many […]
-
10 Dec 2019 15 min read
QuotedData’s Real Estate Roundup – December 2019
Real Estate Roundup Performance data November’s biggest movers in price terms are shown in the chart below. November saw a host of companies report interim and full year results with varying outcomes. CLS Holdings, which owns a diverse portfolio split between the UK, Germany and France, gave a positive trading update that outlined its capital […]
-
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 […]
-
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 […]
-
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 […]
-
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
-
14 Feb 2017 1 min read
QuotedData investment companies roundup – February 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 January 2017. Kindly sponsored by Baillie Gifford. February Investment Companies Roundup
News
-
28 Mar 2025 1 min read
Urban Logistics recycles £21.1m into higher yielding assets
Urban Logistics REIT has announced the acquisition of two logistics assets for £21.1m, as it looks to demonstrate the strengths of its strategy amid an activist shareholder revolt. The assets in Liverpool and Leeds were bought at a blended net initial yield (NIY) of 7.34% and a blended reversionary yield of 7.64%. These were funded […]
-
27 Mar 2025 2 min read
Urban Logistics and Achilles face off
The board of Urban Logistics REIT has urged shareholders to vote against all of the proposals made by Achilles Investment Company in its requisition request, as a war of words hots up between the two companies. Achilles has requested the immediate replacement of chairman Nigel Rich and director Heather Hancock as well as the removal […]
-
26 Mar 2025 1 min read
Urban Logistics REIT requisitioned for removal of board members
Achilles Investment Company Limited has announced that Waverton Investment Management, TR Property Investment Trust and Harwood Capital collectively managing shares representing approximately 8.8% of the issued share capital of Urban Logistics REIT, intend to serve a requisition on the company to convene an extraordinary general meeting. The purpose of this meeting is to propose: The […]
-
20 Mar 2025 5 min read
Urban Logistics responds to Achilles
On 17 April, Achilles (AIC) issued a statement on Urban Logistics which we reproduce below: Achilles Investment Company Limited notes the potential conflict of interest concerning Richard Moffitt, chief executive officer of Logistics Asset Management LLP, the investment adviser to Urban Logistics REIT plc. Mr. Moffitt also holds an interest in M1 Agency LLP, where […]
-
10 Mar 2025 1 min read
Achilles locks its sights on Urban Logistics REIT
On Friday 7 March, Urban Logistics REIT (SHED) announced that funds managed by Harwood Capital, including North Atlantic Smaller Companies (NAS) and the newly incorporated Achilles Investment Company (AIC), which was established to target the hefty discounts in the alternative assets space, including property, own 3.21% of SHED’s voting rights. It would appear that the […]
-
07 Mar 2025 4 min read
Beleaguered investment companies have a mountain to climb
The Association of Investment Companies held its annual Directors’ Conference on 6 March 2025. If you were imagining scenes of champagne sipping and back slapping, it could not be further from the truth. Directors take their jobs seriously and they know that there is a mountain to climb to stem outflows, narrow discounts, and fend […]
-
2 min read
Urban Logistics REIT to internalise manager
Urban Logistics REIT’s board has agreed an internalisation proposal with the principals of Logistics Asset Management (LAM), its investment adviser, to be effected via the acquisition by the company of the management vehicle. The initial consideration will be £6.8m to be paid in shares, with added payments that will vest over time depending on the […]
-
13 Feb 2025 2 min read
Urban Logistics REIT makes significant letting headway
In a lettings update, Urban Logistics REIT has announced that it completed new lettings on five units, totalling 301,000 sq ft of space and £3.0m of annual rent, since 30 September 2024. Two of the lettings were on assets acquired in September 2024 for a total new headline rent of £1.3m per annum and a […]
-
31 Jan 2025 4 min read
REITs on the cheap
With REITs and property companies having been heavily discounted by the market over the past two-and-a-half years, and with share prices moving inversely in eerily close tandem with gilt yields – the sharks are no longer just circling; they are taking huge chunks out of the sector. Seven REITs and property companies were lost to […]
-
27 Dec 2024 5 min read
QuotedData’s review of the year 2024
This is the last of our weekly emails for 2024. We hope that you have been finding them useful. 2024 has been a year of setbacks and shrinkage for the UK investment companies industry, topped by the cynical and self-serving attack on seven trusts by US corporate raider Saba Capital (there will be much more […]
-
26 Nov 2024 3 min read
QuotedData’s morning briefing 26 November 2024 – LMP, SREI, HLCL, SHED, SSIT, VIP, AUGM
In QuotedData’s morning briefing 26 November 2024: LondonMetric Property (LMP) reported a 2.1% uplift in EPRA net tangible assets (NTA) to 195.7p per share over the six months to 30 September 2024. The company’s portfolio of predominantly urban logistics and long-income assets was up 1.1% to £6.2bn. Net rental income increased 154% to £193.1m, while […]
-
07 Nov 2024 2 min read
Urban Logistics REIT step closer to full dividend cover
Urban Logistics REIT (SHED) has taken a step closer to full dividend cover, as adjusted earnings jumped 3.2% in the six months to 30 September 2024 (click here to read our analysis of the results). Adjusted earnings per share for the period were 3.57p (7.14p on an annualised basis), bringing coverage of its 7.6p annual […]
-
17 Sep 2024 3 min read
Urban Logistics REIT refinances debt and buys four assets
Urban Logistics REIT has refinanced £151m of debt and deployed some of the proceeds into the acquisition of four assets. The company has refinanced its existing £100m term loan and £51m revolving credit facility (which was due to mature in August 2025) with a £140m term loan and a £50 million revolving credit facility. The […]
-
13 Sep 2024 4 min read
Real estate’s Rocky moment?
Having taken a combination of macroeconomic blows over the last few years that sent the real estate market to the canvas, the sector appears set to stage a recovery. In true Rocky style, property seems to have beaten the 10 count and is back in the fight. There is always the threat of a knockout […]
-
02 Aug 2024 3 min read
The first cut is the deepest
At last! The Bank of England’s first cut in interest rates has finally come, marked by a collective sigh of relief for many downtrodden sectors such as property. It may be just a 0.25% cut and a succession of quickfire cuts seem highly unlikely, but it signals a turning point that should bring confidence to […]
-
20 Jun 2024 2 min read
Urban Logistics REIT focused on dividend cover after posting solid results
Urban Logistics REIT reported a slight drop in EPRA net tangible assets (NTA) of 1.3% to 160.27p in annual results to 31 March 2024. The value of the company’s portfolio of mid-box urban logistics assets was stable over the 12 months falling just 0.3% on a like-for-like basis to £1.1bn. Net rental income was up […]
-
12 Jun 2024 2 min read
QuotedData’s morning briefing 12 June 2024 – SOR, GPE, SHED, DGI9, BCPT
In QuotedData’s morning briefing 12 June 2024: Special Opportunities REIT (SOR) has pulled its proposed IPO after falling short of its target fundraise. The company had targeted a £500m raise to acquire commercial property at distressed prices. It had lined up three cornerstone investors for up to £114m, but still fell short of its minimum […]
-
17 Apr 2024 2 min read
Leasing market back as Urban Logistics REIT reports 23% uplifts in rents
Urban Logistics REIT reported an average rental uplift of 23% on leases signed in the first quarter of this year as occupational activity returns. The company completed three new lettings (including one at a vacant asset) and three rent reviews in the period, covering 374,000 sq ft of space. This totalled £1.3m in new annualised […]
-
20 Mar 2024 1 min read
Urban Logistics REIT pulls out of merger talks
Urban Logistics REIT has announced that it will not proceed with an offer for abrdn Property Income Trust. The company had made a merger proposal to the company’s board in February, rivalling a merger bid by Custodian Property Income REIT, and in March set out the terms of an alternative proposal that would see it […]
-
18 Mar 2024 2 min read
Urban Logistics REIT details new proposal for abrdn Property Income
Urban Logistics REIT has outlined details of an alternative proposal for abrdn Property Income Trust (API), that it says provides a better deal for API shareholders than the current Custodian Property Income REIT (CREI) bid. The proposal involves the acquisition by Urban Logistics of API’s logistics and retail warehouse assets (portfolio 1 – 66% of […]
-
14 Mar 2024 3 min read
abrdn Property Income board rejects SHED offer
The board of abrdn Property Income Trust (API) has said it would not recommend the Urban Logistics REIT (SHED) proposed bid or new proposal (see details below) for the company on the current terms, reaffirming its recommendation of the Custodian Property Income REIT (CREI) bid. SHED has until the close of play on Friday (15 […]
-
23 Feb 2024 1 min read
QuotedData’s weekly news show 23rd February 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, Richard Williams covered the week’s top stories: • Hipgnosis Songs • JPMorgan Global Growth and Income • Urban Logistics / abrdn Property Income This week’s interview was with Gurpreet Gujral from Atrato Onsite Energy […]
-
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 […]
-
20 Feb 2024 2 min read
Bidding war for abrdn Property Income with Urban Logistics REIT entering the fray
Urban Logistics REIT (SHED) has approached the board of abrdn Property Income Trust (API) regarding an indicative share-for-share offer for the company. The indicative offer exchange ratio is 0.469 SHED shares for each API share (and was reached on the basis that both companies will pay existing shareholders dividends due for the final quarter of […]
-
17 Jan 2024 2 min read
QuotedData’s morning briefing 17 January 2024 – RICA, ACRM, APEO, SHED, PRSR
In QuotedData’s morning briefing 17 January 2024: Ruffer Investment Company (RICA) has provided an update for the six months to December 31 2023. The NAV total return was 0.6% and the share price total return was 0.3%. For the calendar year this was -6.2% and the share price total return was -10.6%. The managers note […]
-
17 Nov 2023 3 min read
QD view – Positive inflation data to reignite real estate sector
The real estate sector got a boost from the lower-than-expected UK inflation figure that was released on Wednesday, which followed a similarly positive update on inflation in the US. The share prices of the London listed property stocks that we track (67 companies in total) were up 2.6% this week on average. November has been […]
-
09 Nov 2023 2 min read
QuotedData’s morning briefing 9 November 2023 – MUT, JZCP, HOT, DGN, AEI, HOME, RGL, SHED
In QuotedData’s morning briefing 9 November 2023: Murray Income says it will pay three interim dividends of 9.5p in December, March 2024 and June 2024. Up from 8.25p for the previous financial year. The directors are trying to rebalance the trust’s quarterly dividends in order to accelerate payments to shareholders. As a result, the board […]
-
24 Jul 2023 2 min read
QuotedData’s morning briefing 24 July 2023
In QuotedData’s morning briefing 24 July 2023: Alliance Trust (ATST) has added a new stock picker to its roster, bringing the total to 10. ATST’s investment manager Willis Towers Watson has appointed Dalton Investments, a value-focused Japanese specialist, which will receive 4% of ATST’s capital. Craig Baker, chairman of WTW’s investment committee, said: “Following extensive […]
-
30 Jun 2023 1 min read
New operator takes over Tuffnells leases at Urban Logistics REIT sites
DX Group Plc has reached an agreement with the administrator of Tuffnells over the running of its UK logistics sites. Urban Logistics REIT (SHED) has 12 sites let to Tuffnells, which fell into administration earlier this month. Nine of the 12 leases, which in total account for 3.3% of SHED’s income, will eventually be transferred […]
-
22 Jun 2023 2 min read
Urban Logistics REIT posts strong operational results despite valuation fall
Urban Logistics REIT has reported a strong operational performance in annual results to 31 March 2023, with net rental income up 45%. However, EPRA net tangible assets (NTA) was down 14.0% to 162.44p, reflecting the outward movement in investment yields in the real estate sector in the high interest rate environment. The group’s portfolio was […]
-
09 May 2023 3 min read
QuotedData’s morning briefing 9 May 2023
RTW Venture Fund Limited (RTW) provided an update for one of its portfolio companies, Acelyrin which announced an up-sized $540 million initial public offering and admission to trade on the Nasdaq Global Market under ticker “SLRN”. Acelyrin is a late-stage clinical biopharma company focused on accelerating the development and delivery of transformative medicines in immunology. […]
-
17 Feb 2023 2 min read
QD view – Nadir point close for property values
The headline numbers reported by real estate investment trusts (REITs) make for scary reading. NAV down 13.9% at AEW UK REIT in the final quarter of 2022, 21.5% at UK Commercial Property REIT, and several others posting similar declines. These falls (and more) were widely anticipated and priced into most companies late last year at […]
-
23 Jan 2023 2 min read
Urban Logistics acquires five assets for £48m
Urban Logistics REIT has acquired five new assets for a total of £48m at a net initial yield of 6.0%. It has bought a portfolio of four assets for £39.5m at blended 6.1% net initial yield. All of the assets in the portfolio are immediately income producing but with short or medium term asset management […]
-
11 Nov 2022 2 min read
QuotedData’s morning briefing 11 November 2022
In QuotedData’s morning briefing 11 November 2022: Capital Gearing Trust (CGT) has announced its interim results for the six months ended 30 September 2022. At the half-year end, CGT’s net asset value per share was 4,798.4p, compared to 5,025.1p at 31 March 2022. This represents an NAV total return of -3.5% over the previous six […]
-
21 Oct 2022 2 min read
QD view – has logistics been oversold?
They say a week is a long time in politics, try a day. Wednesday was a breathtakingly embarrassing day for the government, with the calamitous Liz Truss finally falling on her sword of uncosted tax cuts on Thursday. This will mean that the UK will have its third prime minister in less than two months […]
-
26 Aug 2022 1 min read
QuotedData’s weekly news show 26th August 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, Matthew Read covered the week’s top stories: Urban logistics REIT Rockwood Strategic Digital 9 Infrastructure This week’s interview was with Nick Brind of Polar Capital Global Financials Trust– watch it again here.
-
25 Aug 2022 2 min read
Urban Logistics acquires five assets with significant value creation potential
Urban Logistics (SHED) has announced that it has acquired five assets, worth £90m with significant potential for further value creation through active asset management. The five properties have net initial yields (NIY) ranging from 4.2% to 6.5%, or 4.5% on a blended basis. Four of the properties are income-producing and one property is vacant. Brent […]
-
05 Aug 2022 2 min read
QD view – The logistics paradox
The logistics sector is in a curious place right now. Comments from Amazon (the market leader in occupier take-up of logistics space over the last few years) about slowing the pace of its warehouse expansion have freaked the market. Meanwhile interest rate rises will almost certainly see investment yields erode as the cost of capital […]
-
24 Jun 2022 1 min read
QuotedData’s weekly news show 24th June 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: • Triple Point Energy Efficiency • Trian 1 • Urban Logistics This week’s interview was with Pedro Gonzalez de Cosio, manager of […]
-
23 Jun 2022 2 min read
Urban Logistics REIT doubles in size in transformational year
Urban Logistics REIT doubles size of portfolio in “transformational year” and reports a 23.9% uplift in NAV. The group, which raised £358m of equity, moved to the main market and was included in the FTSE 250 index in the 12 months to 31 March 2022, said its portfolio of mid-box urban warehouses was now valued […]
-
25 Apr 2022 1 min read
Urban Logistics REIT deploys further £45m
Urban Logistics REIT has bought a further £45m of assets as it continues to deploy the funds of its December 2021 fundraise. The company has acquired the East Midlands Logistics Hub for £40.7m at a net inital yield of 6.8%. The property consists of a 72-acre site with four logistics units totalling more than 670,000 […]
-
28 Mar 2022 2 min read
Urban Logistics REIT deploys £72m on new acquisitions
Urban Logistics REIT (SHED) has acquired four new assets for £72m, including its first central London property, at a blended net initial yield (NIY) of 4.6%. The group said all the assets are income producing and benefit from strong covenants, but also come with significant asset management potential. Following these transactions, the company has deployed […]
-
20 Dec 2021 2 min read
Urban Logistics REIT purchases four assets
Urban Logistics REIT has bought four assets for £28.6m, as it begins to deploy the proceeds from its recent £250m equity raise. The acquisition price reflects an average net initial yield (NIY) of 5.82%. Three of the assets are income producing, while the fourth is a forward funding development project. The assets Elland Road, Leicester […]
-
15 Nov 2021 1 min read
Urban Logistics REIT back for more money
Urban Logistics REIT has announced an Initial Placing, Offer for Subscription and Intermediaries Offer targeting gross proceeds of £200m at a price of 170 pence per share. Having fully deployed or committed £134m of capital following the company’s £108m July fundraising, the manager has identified a further pipeline of high quality, last mile logistics assets, […]
-
11 Nov 2021 2 min read
Boom in last mile boosts Urban Logistics REIT
Urban Logistics REIT has posted a 7.9% increase in EPRA net tangible assets (NTA) in interim results, boosted by strong demand for last mile logistics facilities. In the six months to September 2021, the group’s EPRA NTA leapt from 152.33p to 164.30p per share. This was mainly due to portfolio like-for-like valuation growth of 11.3% […]
-
05 Nov 2021 1 min read
Urban Logistics REIT’s spending spree continues
Urban Logistics REIT has acquired three assets for a total of £29.0m at a blended net initial yield (NIY) of 6.7%, as it continues deployment of its recent equity raise. The assets include two income producing assets providing immediate additional revenue and the forward funding of a development project. As a result Urban Logistics has […]
-
29 Oct 2021 1 min read
QuotedData’s weekly news show 29 October 2021
QuotedData’s weekly news show 29 October 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, Jayna Rana and Richard Williams covered the week’s top stories: EP Global Opportunities Atrato Onsite Energy Urban Logistics REIT This week’s interview was with Richard […]
-
25 Oct 2021 2 min read
Urban Logistics REIT plans main market move
Urban Logistics REIT has announced plans to move to the premium segment of the main market of the London Stock Exchange. The directors said they believed that the market capitalisation of the company (£550m) now justifies the move and that it would provide the most appropriate market listing for the continuing growth of the company. […]
-
20 Oct 2021 1 min read
Urban Logistics REIT splashes £15m on two more assets
Urban Logistics REIT has acquired two assets for £15.1m at a 6.0% net initial yield (NIY). The assets include one income producing asset providing immediate additional revenue, and a forward funding development project. Around £50m of further investments are in advanced stages of contractual progress and are expected to be completed in the near term […]
-
22 Sep 2021 2 min read
Urban Logistics REIT gets to work after capital raise
Urban Logistics REIT has deployed £88m of the £109m it raised in July in six off-market transactions. The blended net initial yield (NIY) was 5.4% and is made up of a combination of income producing assets and forward funding commitments. Separately a further £15m was deployed before this equity raise, in three transactions. The manager […]
-
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 […]
-
09 Jul 2021 1 min read
Urban Logistics REIT raises £108.3m
Urban Logistics REIT has raised £108.3m in an equity raise. The group said the placing was materially oversubscribed above the £108m target and a scaling back exercise was carried out. A total of 65,870,766 placing shares (£102.1m) in the company have been conditionally placed at an issue price of 155 pence per share. Additionally, a total […]
-
02 Jul 2021 1 min read
QuotedData’s weekly news show 2 July 2021
QuotedData’s weekly news show 2 July 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, James Carthew and Jayna Rana covered the week’s top stories: Bluefield Solar Income Fund plan to buy 109 wind turbines Genesis Emerging Markets – Fidelity […]
-
30 Jun 2021 2 min read
Urban Logistics is fundraising
Urban Logistics is fundraising – Urban Logistics’ existing funds are fully invested or committed and the company has a strong pipeline of attractive off-market opportunities with a weighted average net initial yield of about 6.1% and average rent per square foot of about £5.40. On 9 June 2021 Urban Logistics said that its board aspires to […]
-
18 Jun 2021 2 min read
QD view – Is property still a good hedge against inflation?
Real estate has historically been a good hedge against inflation and, with the consumer prices index (CPI) rising to 2.1% in May heightening fears that stagflation could be round the corner, investors may be keen to double down on their real estate investment trust (REIT) exposure. However, traditional real estate market drivers are not at […]
-
11 Jun 2021 2 min read
QD view – not all industrial is equal
The industrial and logistics sector has been the standout property performing for some time now and particularly during the pandemic, where accelerated online retailing trends and new supply-chain resilience requirements has significantly boosted demand. However, contrasting views on the future growth prospects of one of the sub-sectors, multi-let industrial, was borne out this week in […]
-
09 Jun 2021 2 min read
Urban Logistics REIT reports stellar results
Urban Logistics REIT has reported a stellar set of annual results in which EPRA net tangible assets (NTA) increased 10.5%. The uplift, to 152.33p per share at 31 March 2021 from 137.89p the previous year, reflected a jump in the value of its properties (by 13.2%) as the logistics sector continued its strong ascent. Total accounting […]
-
07 May 2021 2 min read
QD view – Spotlight on logistics development
As predicted, merger and acquisition (M&A) activity has taken off in the listed property sector in 2021. Friday’s announcement that St Modwen Properties (SMP) had received an unsolicited approach from US private equity giant Blackstone regarding a possible cash offer of £1.2bn for the company feels a bit different to recent M&A news. This week […]
-
07 Apr 2021 1 min read
QuotedData’s morning briefing 7 April 2021
In QuotedData’s morning briefing 7 April 2021 – Urban Logistics REIT (SHED) has bought two assets for a total of £21.7m at a 6.14% net initial yield. The assets are in Warrington and Edinburgh. SHED also provided an update on its rent collection, noting that it collected 99% of rent due for the quarter to June. […]
-
26 Mar 2021 1 min read
Urban Logistics REIT sells five assets at huge valuation uplift
Urban Logistics REIT (SHED) has exchanged contracts to sell five assets as part of a portfolio for £30m, reflecting a yield of 4.8%. The sale is in line with SHED’s stated strategy of active portfolio management and value optimisation and represents a 35.4% uplift on the 30 September 2020 book values. The proceeds will be reinvested […]
-
19 Mar 2021 3 min read
QD view – property one year on from lockdown
Tuesday next week will mark a year to the day that Boris Johnson announced the UK would go into full lockdown in a bid to curb the COVID-19 pandemic. It seems unbelievable that a year later we are still in a lockdown. The successive lockdowns have hugely impacted the property sector – mainly negatively (as […]
-
15 Mar 2021 2 min read
QuotedData’s morning briefing 15 March 2021
In QuotedData’s morning briefing 15 March 2021 – International Biotechnology Trust’s (IBT’s) board and its manager, SV Health Investors, announced that Carl Harald Janson has decided to step back from his role as lead manager after seven at the helm. Lead responsibility for portfolio management will transition to Ailsa Craig and Marek Poszepczynski and the board […]
-
03 Mar 2021 2 min read
Urban Logistics REIT to forward fund speculative development
Urban Logistics REIT has forward funded on a speculative basis the development of five assets in the East Midlands for £23m. The group has exchanged contracts with developer Wilson Bowden Developments, conditional on receipt of planning permission, to finance the construction of two sites in Nottingham and Leicester. The development yield on cost of 6.12% […]
-
19 Feb 2021 2 min read
Urban Logistics REIT announces six logistics acquisitions for £28m
Urban Logistics REIT (SHED) has announced the acquisition of six logistics assets for a total consideration of £27.8 million at a net initial yield of 6.87%. The acquisitions include the Kinaxia portfolio (four logistics assets purchased from Kinaxia Logistics), a logistics asset in Leigh and a logistics asset in Rotherham. The Kinaxia Portfolio On 17 […]
-
15 Jan 2021 2 min read
QD view – Don’t discount the property generalists
A host of rent collection figures for the first quarter of 2021 have been announced by property companies and, once again, it is the logistics-focused companies leading the way. It is not that surprising given the well-documented rise in online retailing and the positive impact on demand for logistics space, but it does underline the strength of […]
-
1 min read
Urban Logistics REIT acquires site in Wirral for £16.3m
Urban Logistics REIT has acquired a logistics site in the Wirral for £16.3m and announced rent collection for the first quarter of 2021 was 99%. The group has bought the 169,963 sq ft property in Bromborough at a net initial yield of 5.0% as it continues to deploy the proceeds of its recent fund raise. […]
-
08 Jan 2021 2 min read
QD view – Watch property go in 2021
Forced closures, withheld rent and suspended dividends, the real estate sector had a tumultuous 2020. There were, however, some property sectors and companies that performed well during the year. So, what can be gleaned from looking at the performance of individual property companies during an unprecedented year of disruption, especially as we enter a third […]
-
16 Dec 2020 2 min read
Urban Logistics buys three assets
Urban Logistics buys three assets – Urban Logistics has bought three logistics assets in Huntingdon, Northampton and Fareham. The total cost was £22.9m which was funded from the company’s recent fundraising. Richard Moffitt, chief executive, commented: “These logistics assets are well located in the Midlands and South East for delivering essential goods the “last mile” to customers and […]
-
27 Nov 2020 2 min read
QD view – Black Friday boon for logistics
It is that time of year again – Black Friday. The US export has quickly become one of the biggest shopping days in the UK. But with shops closed due to lockdown, it will almost entirely take place online this year. It is estimated that £6bn will be spent on Black Friday this year versus […]
-
13 Nov 2020 1 min read
QuotedData’s weekly news show 13 November 2020
QuotedData’s weekly news show 13 November 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, Shonil Chande and Richard Williams covered the week’s top stories: IPO: Round Hill Music IPO Intention to float: VH Global Sustainable Energy Opportunities, and Schroder […]
-
12 Nov 2020 2 min read
QuotedData’s morning briefing 12 November 2020
In QuotedData’s morning briefing 12 November 2020: Further to its announcement on 17 September, Securities Trust of Scotland has provided an update confirming: Troy Asset Management Limited has been formally appointed as the Company’s investment manager James Harries is the named fund manager A discount control mechanism has been introduced that aims to ensure that the […]
-
10 Nov 2020 1 min read
Urban Logistics REIT splashes £34.3m on logistics buy
Urban Logistics REIT has acquired a logistics site for £34.3m as it continues to deploy the proceeds of its recent equity raise. The company has bought the site in Hoddesdon, Hertfordshire, at a net initial yield of 5.4%. The 12-acre site comprises five units, three of which are let to Müller UK & Ireland Group, a […]
-
09 Nov 2020 2 min read
Urban Logistics REIT buys five assets for £33.1m
Urban Logistics REIT has bought five logistics assets for £33.1m just weeks after raising more than £90m in a fundraising. The deals were all conducted off-market at a blended net initial yield of 6.4%. The assets Ripon The group has acquired a 43,881 sq ft distribution unit in Ripon for £2.9m in a sale-and-leaseback deal […]
-
16 Oct 2020 2 min read
QD view – Rent collection nuggets
Fourth quarter rent collection figures have been coming in thick and fast over the past week or so and overall they show a general improvement on collection rates during the COVID-19 pandemic. There are a few nuggets to come from the announcements so far. The first thing to say is that collection rates have improved […]
-
15 Oct 2020 1 min read
QuotedData’s morning briefing 15 October 2020
In QuotedData’s morning briefing 15 October 2020 Polar Capital Global Healthcare has agreed a fee reduction with its manager. The base management fee prior to the revision was 0.85% on the lower of the market capitalisation and adjusted net asset value. The revised fee, which is in place with effect from 1 October 2020, is 0.75% […]
-
08 Oct 2020 3 min read
Real estate companies report growing rent collection figures
A plethora of real estate companies have posted encouraging rent collection figures for the current quarter (payment day for which is typically on or around 29 September). Here we have rounded up the announcements. Urban Logistics REIT Urban Logistics REIT announced it had collected 99% of rent due for the quarter to December, with the remaining 1% […]
-
04 Sep 2020 2 min read
Shed heaven
Urban Logistics REIT (SHED) this week has announced another potential equity raise, having already invested all the proceeds of its £136m placing from March 2020. The news underlines the polarisation we are seeing in the property market, with other sectors such as retail and offices struggling in the face of uncertain futures. As many of […]
-
01 Sep 2020 1 min read
Urban Logistics back for more money
Urban Logistics back for more money – In March 2020 Urban Logistics REIT completed a £136m equity raise, followed by arranging a £151m debt facility (at a reduced all in cost of c.2.66%) replacing the £76m facility previously in place. Since March 2020, Urban Logistics has completed nine acquisitions for a total consideration of £145.7m (6.0% […]
-
11 Aug 2020 2 min read
Urban Logistics secures three properties and a loan
Urban Logistics secures three properties and a loan – Urban Logistics has made three purchases for a total of £36.8m and secured a new £151m loan facility. Colchester On 10 July 2020, Urban Logistics bought Interchange Park, on the A12 / A120 in Essex, for £9.8m. The logistics park has five units with an average […]
-
06 Jul 2020 1 min read
QuotedData’s morning briefing 6 July 2020
Warehouse REIT (WHR) announced that it has received valid applications and commitments for the issue announced on 18 June, raising approximately £153m. Neil Kirton, chairman of WHR, commented: “The result of this equity raise, ahead of our original £100m March target, is a strong endorsement of our strategy. We are extremely grateful to both the new UK […]
-
29 May 2020 1 min read
Urban Logistics REIT posts 4.6% rise in portfolio valuation
Urban Logistics REIT saw the value of its portfolio rise 4.6% on a like-for-like basis in the year to the end of March, as the sub-sector continues to perform strongly despite the impact of covid-19. The company reported a flat net asset value (NAV), of 137.9p per share, taking into account a £136m fundraise in […]
-
30 Apr 2020 1 min read
QuotedData’s morning briefing 30 April 2020
In QuotedData’s morning briefing 30 April 2020, as Shell cuts its dividend for the first time since the Second World War: Yellow Cake has extended its $2m buyback programme to 21 July. $985,868 has been deployed so far – about half. Urban Logistics REIT has spent £47m of the £136m it raised in March buying seven […]
-
08 Apr 2020 2 min read
Urban Logistics acquires £56.1m of assets
Urban Logistics REIT has acquired nine assets and a development site for a total of £56.1m. The deals follow its £136.1 million equity capital raise which completed in March. The acquisitions were made at an average net initial yield of 6.3% and comprise: a portfolio of seven single-let regional distribution warehouses for £31.9m; an NHS distribution centre in […]
-
05 Mar 2020 1 min read
QuotedData’s other news 5 March 2020
In QuotedData’s other news 5 March 2020 Sirius Real Estate has secured €50m funding through a Schuldschein loan offering a blended interest rate of 1.60%, with an average maturity of 3.7 years. Urban Logistics REIT has topped up the £130m it raised the other day with a further £6.1m from its open offer and offer for subscription. […]
-
15 Feb 2020 1 min read
QuotedData’s other news 15 February 2020
In QuotedData’s other news 15 February 2020 Urban Logistics REIT has raised £130m via a placing of 94,545,455 new shares to investors at 137.5p. This is well in excess of the £100m it was after. It has also left room to raise an additional £12m from investors in the EU. Pre-existing investors have the opportunity to […]
-
14 Feb 2020 1 min read
Urban Logistics REIT raises £130m in placing
Urban Logistics REIT has raised £130m through an over-subscribed placing. The result of the placing was significantly in excess of the target size of £100m. A total of 94.5 million shares in the company have been conditionally placed with new and existing investors at 137.5 pence per share. Urban Logistics REIT executive directors Nigel Rich […]
-
10 Feb 2020 2 min read
Urban Logistics REIT announces plans for £100m placing
Urban Logistics REIT (SHED) says that further to the pipeline update announcement on 6 January 2020 (click here to read more), it is announcing a proposed placing to raise a target issue of £100m and an open offer and offer for subscription to raise up to around £6.7m. Richard Moffitt, director and CEO of the company, […]
-
06 Jan 2020 1 min read
Urban Logistics pipeline worth more than £300m
Urban Logistics REIT (SHED) has provided an update on its pipeline of acquisitions. SHED says that its manager, Pacific Capital Partners Limited, has significant experience in sourcing quality properties off-market with opportunities for significant value creation. It constantly reviews the market for potential investment opportunities and has identified a large pipeline of high-quality logistics properties […]
-
14 Nov 2019 1 min read
Urban Logistics REIT posts 12.4% NAV rise in impressive interim results
Urban Logistics REIT has announced an increase in net asset value (NAV) of 12.4% to 145.2p in interim results today, reaffirming the strength of the industrial sector. The specialist logistics REIT posted a 31.3% jump in net rental income to £5.8m in the six months to the end of September, while EPRA earnings per share […]
-
14 Oct 2019 1 min read
Urban Logistics REIT portfolio value up 3.8% over interim period
Urban Logistics REIT portfolio value up 3.8% over interim period – The Property – UK Commercial sector company, Urban Logistics REIT (SHED), has provided a trading update following the end of its interim period to 30 September 2019. In advance of reporting half-year results on 14 November, SHED has said: Portfolio valuation up 3.8% to […]
-
23 Sep 2019 1 min read
QuotedData’s other news 23 September 2019
In QuotedData’s other news 23 September 2019 Urban Logistics REIT has bought six parcel distribution depots from Connect Group for £9.9m, a 7.0% net initial yield. Plus two DHL warehouse facilities in Sittingbourne and Thatcham bought for £5.3m and a 5.9% yield. Hipgnosis Songs Fund has applied to be listed on the Premium Segment of the […]
-
17 May 2019 1 min read
Urban Logistics REIT disposes of Postley Road site, Bedford
Urban Logistics REIT has announced that it has sold a site located on Postley Road, Bedford for £9.2 million “realising a Total Property Return of 74%”. (The company defines total property return as capital growth plus net rental income plus sale profit expressed as a percentage of the purchase price. It says that it will […]
-
08 Nov 2018 1 min read
Urban Logistics buys site in Bedford
Urban Logistics buys site in Bedford- The site was purchased from 3M Products Limited for total consideration of £17.1 million. The property is located at Hudson Road, Bedford. The land consists of a development site and a building with a total of 20.1 million acres of land. The building is 183,883 sq ft and is […]
Upcoming Events
Videos
In The Press
-
19 Mar 2025 1 min read
Experts split over benefits of internalised management for REITs
Sorin Dojan, Investment Week, 19 March 2025: Internalising management for REITs removes the risk of further complicating cost reporting for investment trusts, but experts warn the advantages of an externally managed vehicle are also taken away. Their caution came after Supermarket Income REIT (SUPR) put forward proposals to internalise its management function, subject to shareholder […]
-
20 Jun 2024 1 min read
Urban Logistics plans gearing increase after robust performance
BY JENNIFER HILL, Citywire Investment Trust Insider, 20 June 2024: Last-mile warehouse investor Urban Logistics (SHED) believes the time is right to increase gearing after what analysts at QuotedData hailed ‘another year of strong operational performance’. Net rental income rose 8.4% in the year to end-March as the mismatch between supply and demand in logistics […]
-
17 Jun 2024 1 min read
As high-tech offices lure staff and top investors… Follow our experts’ guide
By ANNE ASHWORTH, Daily Mail, 15 June 2024: For the past few years, the commercial property sector has been an investment no-go zone, ravaged by higher interest rates, inflation and the pandemic’s impact on shopping and working. The general disquiet was highlighted this week by the cancellation of the stock market launch of Special Opportunities, […]
-
21 Mar 2024 1 min read
Abrdn Property Income chair blasts ‘misleading’ comments in bidding war
By:Elliot Gulliver-Needham, Investment Reporter, City A.M., 21 March 2024: Urban Logistics REIT has backed down from its bidding war over Abrdn Property Income trust after failing to make a formal offer for the real estate investment trust. Less than an hour before the 5pm deadline yesterday set out by the UK takeover code, the trust […]
-
26 Feb 2024 1 min read
Can smaller trusts survive without consolidation?
Christian Mayes, Portfolio Adviser, 26 FEBRUARY 2024: A range of mergers have been announced in the investment trust space in recent times. Among others, the £2.3bn JP Morgan Global Growth and Income trust announced plans to absorb the £71m JP Morgan Multi-Asset Growth & Income (MATE) in January, while last week saw a bidding war […]
-
31 May 2023 1 min read
Investment trust insider on mergers
Investment trust insider on mergers – The direct lending fund that should be expanding, not shrinking or disappearing Another investment company bites the dust as CT Property Trust (CTPT) becomes the latest to announce it is on the receiving end of a bid. This time, unlike Civitas (CSH) where I continue to think shareholders should […]
-
18 Apr 2023 1 min read
Investment trust insider on discounts
James Carthew: This selloff has gone too far Looking at my portfolio, the past few months have felt a bit frustrating. Investment companies that I am convinced are sound have been derated, sometimes aggressively. Investors seem irrational, perhaps even panicky. Fundamentals are being ignored and sentiment rules all. Fortunately, the bulk of my investments are […]
-
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 […]
-
16 Jan 2023 1 min read
Investment trusts are going cheap in the stockpicker sales
David Brenchley, The Sunday Times, January 15 2023 The January sales are still on but you might find it more profitable to go shopping in the stock market instead. When share prices fall as sharply as they have since mid-2021, investors will inevitably be on the lookout for bargain opportunities. Investment trusts are trading at […]
-
03 Oct 2022 1 min read
As valuations freefall income growth is king for REITs
Richard Williams, Investment Week, 30 September 2022: The sharp interest rate rises expected to follow the collapse in the value of the pound do not bode well for the real estate sector in the UK. Many of the REITs were already trading on large discounts to net asset value (NAV), in part due to the […]
-
22 Nov 2021 2 min read
consider opportunities in retail logistics sheds that feed our online appetites
By ANNE ASHWORTH FOR THE DAILY MAIL 19 November 2021 Black Friday is almost here, and Christmas is only 34 shopping days away. If you want to bring seasonal cheer to your portfolio, you could consider the opportunities in the sprawling retail logistics steel sheds that line motorways and have sprung up close to towns and […]
-
29 Mar 2021 2 min read
Property fund with a growing store of income
URBAN LOGISTICS REAL ESTATE INVESTMENT TRUST: Property fund with a growing store of income By JEFF PRESTRIDGE, FINANCIAL MAIL ON SUNDAY PUBLISHED: 21:51, 27 March 2021 | UPDATED: 13:48, 28 March 2021 Many commercial property investment funds have had a difficult pandemic – as workers have stayed at home, demand for office, retail and industrial space has fallen and some […]
-
08 Mar 2021 1 min read
Is it time to shop for a high street investment bargain?
Is it time to shop for a high street investment bargain? Lockdown rules will ease, while a tax on online sales could hit internet stores By ROSIE MURRAY-WEST, FINANCIAL MAIL ON SUNDAY PUBLISHED: 21:51, 6 March 2021 | UPDATED: 08:47, 7 March 2021 The country’s shuttered stores breathed a sigh of relief last week as the Chancellor announced an extension […]
-
28 May 2020 1 min read
Investment trust insider on warehouses
Investment trust insider on warehouses – James Carthew: a fair wind fills the sails of logistics funds The big question on investors’ minds as they look to a post-pandemic future is which, if any, of the changes forced on us by the lockdown measures will end up being permanent? Thinking about the potentially profound impact on […]
