Listed

Listed, when used to describe a UK company, means a company that is listed on the main market of the London Stock Exchange. All listed companies can be described as quoted companies but not all UK quoted companies are listed.

WALE

WALE is an abbreviation of Weighted Average Lease Expiry. It is used by property companies as an indicator of the average remaining life of the leases within their portfolios, taking into account the size. This can be the size of either expected income or space. Therefore large tenants can shift the balance of things, especially […]

PMI

PMI is an acronym of Purchasing Managers’ Index. Senior managers at selected companies fill out a survey each month, recording measures of business output, new orders, employment, costs, selling prices, exports, purchasing activity, supplier performance, backlogs of orders and inventories of both inputs and finished goods. However, the headline measure is a measure of sentiment […]

Premium Segment

The London Stock Exchange operates a premium listing segment where companies are obliged to comply with higher compliance and disclosure requirements than the EU-minimum (imported into UK post Brexit) standards necessary for a standard listed company. The most important distinction between this and a standard listing is that – at admission to this segment – […]

SOCIMI

SOCIMI is an acronym for Sociedades Anónimas Cotizadas de Inversión Inmobiliaria which in English means Listed Real Estate Investment Companies. They are the Spanish equivalent of REITs.

SPAC

SPAC is an acronym for special purpose acquisition company. These are listed companies with no business of their own but often with substantial cash resources, that are established to take over another business. They can be used as a way of listing an unquoted company.

pre-emption rights

Pre-emption rights give existing shareholders in a company the right to subscribe for their pro rata share of any new shares in that company issued for cash, providing them with protection against inappropriate dilution of their investments. Pre-emption rights are very important. The rules that govern how listed companies behave say that, unless you agree […]

Diluted Net Asset Value or Diluted NAV

Diluted Net Asset Value or Diluted NAV – Diluted NAV per share shows the net assets per common share after assuming the exercise of all outstanding warrants and stock options, and the conversion of convertible bonds, preferred stock, and any security that needs to be taken into consideration. Diluted Net Asset Value or Diluted NAV Click […]

EPRA Earnings per share or EPRA EPS

EPRA Earnings per share or EPRA EPS – EPRA Earnings is a measure of the underlying operating performance of an investment property company excluding fair value gains, investment property disposals and limited other items that are not considered to be part of the core activity of an investment property company. EPRA earnings per share are […]

Estimated Rental Value or ERV

Estimated Rental Value or ERV – ERV is the estimated annual market rental value of lettable space as determined biannually by a property group’s valuers. This will normally be different from the rent being paid. Estimated Rental Value or ERV Subscribe for free equity research on investment trusts, funds and listed companies.

Revolving Credit Facility or RCF

Revolving Credit Facility or RCF – A revolving credit facility is a type of credit that does not have a fixed number of payments, in contrast to fixed term loans. An example of this for members of the public is the credit card. Corporate revolving credit facilities are typically used to provide liquidity for an […]

Glossary

Listed