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Custodian REIT posts positive NAV total return for quarter
Custodian REIT to reduce dividend as rent receipts fall

Custodian REIT has reported a modest 0.5% fall in net asset value (NAV) for the third quarter of 2020 and updated on rent collection. The company, which owns a diversified portfolio of property assets across the UK with a 47% weighting to the industrial sector, posted a NAV per share of 95.2p at 30 September […]

Octopus Renewables Buys French wind project

Octopus Renewables Buys French wind project – Octopus Renewables Infrastructure Trust has completed the acquisition of a 100% interest in the Cerisou wind farm, a construction-ready onshore wind project in the Vienne department of France. The project has been acquired from RES SAS, part of the RES Group, a leading worldwide developer, constructor and manager of […]

Supermarket Income buys Sainsbury’s in Newcastle
Supermarket Income REIT SUPR

Supermarket Income buys Sainsbury’s in Newcastle – Supermarket Income REIT has bought a Sainsbury’s supermarket in Heaton, Newcastle upon Tyne, from the National Farmers Union for £53.1m, reflecting a combined net initial yield of 4.1%. The 11-acre site was originally developed in the 1980s and completely rebuilt in 2011. There is a 68,000 sq ft net sales area […]

QuotedData’s morning briefing 29 October 2020
Henderson International Income held back by US underweight

In QuotedData’s morning briefing 29 October 2020: Henderson International Income, managed by Ben Lofthouse, reported a -3% return on NAV and -5.2% return to shareholders for the year ending 31 August 2020. Both some way behind the trust’s MSCI World (ex UK) Index, which returned +8.1%. The board notes though that higher yielding shares within the index […]

Premier Global Infrastructure updates on name change to Premier Miton Global Renewables Trust
PGIT renewable energy light bulb

Premier Global Infrastructure (PGIT) released a statement noting that “following the consultations with dissenting shareholders, and in order to ensure consistency between the name of the company and its investment policy, and further to reflect the merger of Premier Asset Management Group with Miton Group in November 2019, the company confirms that on 20 October […]

Impact Healthcare REIT posts jump in NAV and updates on COVID
Impact Healthcare continues strong growth

Impact Healthcare REIT, the care homes investor, has reported a 1.8% rise in net asset value (NAV) for the third quarter and confirmed 100% of rents for the year to date have been collected. In a trading update for the quarter ended 30 September 2020, the company said the unaudited NAV per share was 109.06p, compared to 107.17p at […]

NextEnergy Solar says first half generation was 11.1% above budget
NextEnergy Solar adds Cambridgeshire plant to portfolio

In an update statement this morning, NextEnergy Solar (NESF) announced that generation over the first half of its financial year, to 30 September, was 11.1% above budget. Solar irradiation exceeded expectations by 10.8%. NESF reaffirmed its full-year dividend target of 7.05p for the financial year ending 31 March 2021. High Garrett 8.5MWp subsidy-free solar asset energised […]

QuotedData’s morning briefing 28 October 2020

In QuotedData’s morning briefing 28 October 2020 – Apax Global Alpha (APAX) announced that Genius Sports Group, a portfolio company of the Apax IX fund, and dMY Technology Group, a publicly traded special purpose acquisition company (SPAC), have agreed to combine. As a result of the business combination, GSG and dMY II shareholders will exchange their shares for […]

Glenstone looks to acquire 25% stake in Alternative Income REIT

Glenstone Property has announced its intention to acquire 25% of Alternative Income REIT (AIRE). The tender offer of up to 20,125,000 shares at a price of 59.25p represents a premium of 12.9% on the closing price on 26 October 2020, but a 29% discount to the 30 June 2020 net asset value (NAV) per share of […]

Vietnam Opportunity reports solid results

VinaCapital Vietnam Opportunity Fund reports an NAV total return for the year ended 30 June 2020 of -1.5% in US dollar terms but +1.2% in sterling terms and a fall in its share price from $4.34 to $4.07. The VN Index fell by 12.7% over this period. The dividend is being maintained at 5.5 cents. […]

UK Mortgages review progressing
UK Mortgages Limited UKML Hourglass time

UK Mortgages review progressing – For the year ended 30 June 2020, UK Mortgages reports a fall in its asset value, from 82.06p to 80.59p, and a more substantial collapse in its share price, from 73.5p to 49.3p. The NAV total return for the period was 2.7%. The dividend was reduced from 5.625p to 4.5p but was […]

QuotedData’s morning briefing 27 October 2020

In QuotedData’s morning briefing 27 October 2020: Aberdeen Diversified Income and Growth Trust will repurchase £43,904,000 of its 6.25% bonds, equivalent to 73.2% of the total issue. The purchase price of 154.094491% was calculated using a credit spread of 0.80% above the redemption yield on the United Kingdom 6% Treasury Stock due 7 December 2028. So, the […]

Grit Real Estate reports sharp fall in NAV
Grit Real Estate Income Acacia Estate GR1T

Grit Real Estate Income Group, the pan-African real estate company, has reported a big drop in net asset value (NAV) as a result of the impact of COVID-19 on its retail and hospitality properties. The group said its NAV per share for the year to the end of June 2020 would be between US$1.18 and […]

Augmentum Fintech announces placing following strong performance over the year-to-date

Augmentum Fintech (AUGM), one of the year’s best-performing investment companies, announced its intention to conduct a placing to raise gross proceeds of up to approximately £28m at a price of 120p. AUGM says that proceeds of the fundraise are to be used to fund investments selected from the company’s near-term pipeline, which currently contains approximately £120m of […]

QuotedData’s morning briefing 26 October 2020

In QuotedData’s morning briefing 26 October 2020 – Pershing Square (PSH) announced the launch of an offering of up to $500m aggregate principal amount of senior notes with a maturity not later than 2031. The net proceeds are expected to be used for general corporate purposes, including to make investments in Pershing Square Tontine Holdings, […]

QD view – US election, why worry?

Election day is edging closer in the US and the rhetoric is ramping up. We managed to catch up with Dean Orrico, the manager of Middlefield Canadian Income Fund (the subject of last week’s article) in the weekly interview and he reiterated his observation that Biden is likely to win the Presidential election. The more […]

QD view – Will Landsecs return to former glory?

Mark Allan, the new chief executive of Land Securities, this week set out his strategy for growth at the former goliath of listed property companies. Since taking over the hot seat from Rob Noel in April, Allan has been undertaking a strategic review of the business. That review has concluded with four key pillars for […]

QuotedData’s weekly news show 23 October 2020

QuotedData’s weekly news show 23 October 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, James Carthew covered the week’s top stories: A change of direction for Baring Emerging Europe A new manager for Alliance Trust A new meeting requisition […]

CEIBA Investments acquires stake in Cuban logistics development

CEIBA Investments, the Cuban real estate investor, has acquired a 50% stake in a mixed-use industrial park development project in Mariel, Cuba. The initial investment in GBM IT Mariel, the company spearheading the development, will be limited to €1.5m. GBM IT Mariel will develop and operate a mixed use multi-phase industrial park on an undeveloped tract of […]

Another strong year of outperformance for BlackRock Greater Europe

BlackRock Greater Europe (BRGE) has announced its annual results for the year ended 31 August 2020, during which the company has provided a strong year of outperformance. According to BRGE, it provided an NAV total return of 16.9%, outperforming its reference index, the FTSE World Europe ex UK Index, which returned 0.7%, while its share […]

Secure Income REIT to stick with Travelodge
Secure Income REIT SIR

Secure Income REIT will not terminate Travelodge’s lease at its 123 sites (which it had the right to do as part of the terms of the hotel chain’s CVA) after running a sales process of the portfolio and attempting to re-let them. The company will maintain the current arrangements following the recent CVA, whereby the […]

Stenprop posts strong trading update

Stenprop, the UK multi-let industrial property company, has collected 88% of rent since April 2020, it revealed in a trading update. Across its multi-let industrial portfolio (MLI), which makes up 63% of the wider portfolio and will eventually be 100%, the group has so far collected 70% of quarterly rent billed for the final quarter […]

CLS Holdings sells Bismarckallee 18-20, Freiburg for €22.5 million
201023 CLS Bismarckallee 18-20

CLS Holdings (CLS) has announced that it has unconditionally exchanged contracts to sell Bismarckallee 18-20 (pictured) in Freiburg for €22.5 million excluding costs, with completion expected in December 2020. The property was acquired in 2013 and consists of 7,500 sqm (80,729 sq. ft) of office and retail space over nine floors. The building is 85% […]

Death by a thousand cuts – Infrastructure India NAV takes another hit
20201023 IIP - money down the drain

Infrastructure India (IIP) has announced its final results for the year 31 March 2020, during which its NAV has taken another hit. As at 31 March 2020, the IIP’s total net assets were £124.1 million in total and 18.2p per share, from £149.1 million in total and 21.9p per share as at 30 September 2019. […]

QuotedData’s morning briefing 23 October 2020
QuotedData's Morning briefing

In QuotedData’s morning briefing 23 October 2020: Associated Capital Group (AGC), the large Shareholder associated with the manager of Gabelli Value Plus+ Trust, that is also blocking the winding of said trust, has requisitioned GVP’s board to call a general meeting. A link to a copy of the letter is provided below, but the key takeaways […]

Shaftesbury aims to raise £297m in placing
Capco eyes takeover of Shaftesbury

Shaftesbury has announced its intention to raise £297m through a placing to firm up its balance sheet. The company, which owns a 16-acre chunk of London’s West End including Carnaby Street, has been heavily impacted by COVID-19 and the ability of its retail and leisure tenants to pay rent. The issue price of 400p is a […]

Town Centre Securities collects 75% of rents in Q4
Town Centre Securities provides covid-19 update

Town Centre Securities (TOWN), which owns property in Leeds, Manchester, Glasgow and London, has collected 75% of rents for the current quarter and 82% of rents since March 2020. Current quarter Of the £5.2m that TOWN billed for the quarter, it had collected £3.9m or 75%. A further £0.5m or 10% has been agreed to be deferred. […]

AEW UK REIT upbeat despite small NAV hit

AEW UK REIT upbeat despite small NAV hit – over the three months ending 30 September 2020, AEW UK REIT’s NAV fell from 93.37p to 92.73p and its EPRA earnings per share fell from 1.81p in the previous quarter to 1.60p. That still works out as a positive NAV total return figure of 1.46%, however. […]

Ground Rents Income tower cladding fight drags on
Ground Rents Income loses court case

Ground Rents Income tower cladding fight drags on – Ground Rents Income Fund has provided an update regarding the ongoing litigation at Beetham Tower, Manchester. This is a mixed use residential and hotel asset owned by a subsidiary of Ground Rents Income called North West Ground Rents Limited (“NWGR”). The litigation at Beetham Tower relates […]

QuotedData’s morning briefing 22 October 2020
covid-19

In QuotedData’s morning briefing 22 October 2020: BMO Real Estate Investments has reported a 1.9% fall in NAV (from 96.6p to 94.8p) for the quarter ended 30 September and a negative 1.3% NAV total return. As expected, it is having problems collecting rent from retail tenants, which account for 25.9% of the portfolio (with retail warehouses […]

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