SEGRO has acquired three fully leased logistics warehouses in The Netherlands for €222m. Undertaken via three separate transactions the assets build on SEGRO’s scale in a region, which acts as a key logistics hub for Continental Europe as well as the Dutch domestic market. They total 172,300 sqm of additional space and are in-line with […]
Target Healthcare REIT has completed the disposal of four UK care homes for £44.5m at a modest premium to the book value at 31 March 2024. The sales price reflects a net initial yield of 5.64%. Proceeds from the disposal, which represented 326 beds and 4.6% of the group’s overall portfolio value, will enable a […]
Regional REIT has announced a capital raising of £110.5m through a fully underwritten placing. The company has also announced a 1 for 10 share consolidation. The capital raising, which is being underwritten by Bridgemere Investments, will enable the company to fully repay a £50m retail bond that is due to mature in August. The remainder […]
SDCL Energy Efficiency Income Trust (SEIT) has published its annual results for the year ended 31 March 2024, during which its NAV has fallen to 90.5p per share as at 31 March 2024 from 101.5p a year prior. This includes a reduction of 11p from a 90bps increase in weighted average unlevered discount rate during […]
Harworth Group has sold a parcel of land near Leeds to Microsoft for £106.6m for the development of a hyperscale data centre. The 48 acres of land at Harworth’s Skelton Grange site will be sold in two phases. The first plot, which comprises 27 acres, will be sold for £52.9m with completion expected in the […]
In QuotedData’s morning briefing 27 June 2024: Harmony Energy Income (HEIT) announced its interim results for the six-month period ended 30 April 2024. The NAV total return over the period was 14.89%, while shares fell 57%. Schroder British Opportunities (SBO) announced the appointment of Justin Ward and Jemma Bruton as independent non-executive directors of the […]
Alliance Trust (ATST) and Witan Investment Trust (WTAN) have announced that the two companies will combine to form Alliance Witan. Under the new deal, Witan’s assets will be rolled into Alliance Trust in exchange for the issue of new ordinary shares in the newly-named Alliance Witan. Specifics of the deal include: Alliance Trust’s investment strategy, […]
The Global Smaller Companies Trust (GSCT) announced its annual results for the year ended 30 April 2024. The company delivered a NAV total return of 9.0% (2023: -2.9%) versus 11.3% for the benchmark (2023: -2.1%). The share price total return was 12.7% (2023: -6.2%). The company also announced a 22.2% increase in its dividend, the […]
Sequoia Economic Infrastructure (SEQI) has announced its annual results for the year ended 31 March 2024. The company delivered a NAV total return of 8.1% for the year, in excess of target return of 7-8%. Total dividends were 6.875p per ordinary share, in line with the target of a 10% increase. The share price total […]
Bankers (BNKR) has announced its interim results for the half year ended 30 April 2024. The trust delivered a strong NAV total return over the six months of 17.5% (2023: 8.1%) and a share price total return of 21.5% (2023: 5.4%), both returns outperforming the benchmark index return of 16.6% (2023: 3.5%). The company’s Japanese […]
In QuotedData’s morning briefing 26 June 2024: Apax Global Alpha (APAX) announced several updates including the retirement of Tim Breedon from the board and the commencement of a previously announced buyback programme which allows the company repurchase to up to 14.99% of its issued share capital. We also have: Interim results from Bankers including moves […]
JPMorgan Global Core Real Assets (JARA) announced its annual results for the year ended 29th February 2024. The company saw a NAV total return of -4.4%, whilst shareholder total return was -20.9% due to a widening of the share price discount to NAV. Underlying asset performance in local currency was +0.3%. Real Estate was the main […]
Augmentum Fintech (AUGM) announced its annual results for the year ended 31 March 2024. The company saw a NAV total return of 5.4% which was driven by net investment return for the year and impact of share buybacks. The share price total return was up 3.6%. The company noted that several of its portfolio companies […]
In QuotedData’s morning briefing 25 June 2024: Foresight Sustainable Forestry (FSF) announced its interim results for the six months to 31 March 2024. The company recorded a profit for the period of £6.6m, while delivering a NAV per share return of 3.9% since 30 September 2023. The key drivers of the uplift were the upwards […]
Warehouse REIT has announced the acquisition of a retail park for £38.6m, and also reported an uplift in NAV in annual results. The company, which specialises in multi-let warehousing, has ventured away from its core investment strategy with the purchase of phase 2 of Ventura Retail Park, a 13-unit scheme in Tamworth, close to Birmingham. […]
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. On Friday’s weekly show, James Carthew covered last week’s top stories: • Home REIT • NextEnergy Solar Fund We hosted a panel discussion between Nick Greenwood from MIGO Opportunities, Peter Hewitt from Columbia Threadneedle & Ben Ritchie from […]
Triple Point Energy Transition (TENT) has released its annual results for the 12 months ending 31 March 2024, following the decision on 22 March 2024 to implement an orderly wind-down of the trust, given it was trading at a persistent discount to NAV and was unable to grow the trust further. Over the 12 months […]
Warehouse REIT has completed the sale of £57.5m of single-let assets in three separate transactions. The combined sales price is in line with the 31 March 2024 valuation and represents a net yield on passing rent of 5.8%. The sales bring total proceeds raised since the company announced its deleveraging plan in November 2022 to […]
The board of Schroder Japan Trust (SJG) has announced a new enhanced dividend and discount management measures, after holding conversations with shareholders. Dividend: The board would now like to adopt an enhanced dividend policy to pay out 4% of average net asset value in each financial year. Further details will be provided in the next […]
In QuotedData’s morning briefing 24 June 2024: Patria Private Equity Trust (PPET), formerly abrdn Private Equity Opportunities, has released its half yearly report, providing an update to its NAV performance. PPET has generated a NAV total return of 2.0% for the six months to 31 March 2024, with a current NAV of £1.2m. This equates […]
Prompted by a decent set of results this week, I thought I’d take a look at JPMorgan European Discovery Trust (JEDT). This fund, which used to be known as JPMorgan European Smaller Companies, was beset by poor performance for a number of years. Investors shied away from it as a result, and it tended to […]
JPMorgan Japan Small Cap Growth and Income (JSGI) reported annual results for the 12 months ending 31 March 2024. JSGI reported a NAV total return of 5.0% and share price total return of 2.3% for the year, underperforming its benchmark MSCI Japan Small Cap Net Return Index which returned +12.0%. The managers’ focus on […]
Worsley Investors (WINV) reported its annual results for its financial year ending 31 March 2024. NAV per share decreased slightly by 1.07% to 43.45p with total assets decreasing marginally from £15.23m to £15.09m. Its share price declined 11.43% to 24.80p, increasing the discount to NAV to 42.92%. Its NAV significantly underperformed the FTSE All Share, which was up 8.43%. […]
The Montanaro European Smaller Companies Trust (MTE) reported its annual results for the 12 months ending 31 March 2024. MTE reported a NAV total return of 4.9%, slightly underperforming its benchmark, the MSCI Europe (ex-UK) Small Cap Index, which returned 5.9%. MTE’s share price total return was 4.3%. The board highlights the longer-term track record […]
JLEN Environmental Assets (JLEN) reported its annual results for the 12 months ending 31 March 2024. It was a challenging year, with NAV per share declining 7.7% to 113.6p. The portfolio value decreased slightly to £891.9m from £898.5m the previous year. JLEN also reported a negative share price total return of -15.4%, due to a […]
NewRiver REIT’s annual results show that its turnaround strategy is paying off and the retail property market is returning to growth. The company reported a 5.0% drop in EPRA net tangible assets (NTA) to 115p in the year to 31 March 2024, which was mainly due to a modest decline in portfolio valuation of 2.3% […]
In QuotedData’s morning briefing 21 June 2024: Home REIT (HOME) has sold a further 133 properties at auction, this time for £11.36m in total. These were 7.8% below the draft August 2023 valuations. Since August 2023, the company has completed on the sale of 774 properties and exchanged on a further 205 properties, for gross […]
Alongside its results, the trust has announced plans for a 15% tender offer. JPMorgan European Discovery says that over the year to 31st March 2024 its total return on net assets was 6.8%, outperforming the benchmark (MSCI Europe (ex UK) Small Cap Index) which returned 5.9%. The total return to shareholders was 13.0%, as the […]
Cordiant Digital Infrastructure’s results to end March 2024 show an improvement in its NAV to 120.1p, contributing to an NAV return for the period of 9.3% (that would have been 11% but for adverse foreign exchange movements), and an increase in the dividend to 4.2p (up 5%), offset by a widening discount – from 28.3% […]
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 […]
