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Real Estate News

This sector includes mortgage companies, property management companies and REITs

26 Feb 2024

QuotedData’s morning briefing 26 February 2024 – SONG, HMSO, AERI

In QuotedData’s morning briefing 26 February 2024: Hipgnosis Songs Fund (SONG) has confirmed that following its previous announcement on 19 February, Mr Mercuriadis and the Investment Adviser have refused to indemnify the trust against liabilities which may arise from his alleged misconduct. SONG now intends to bring a Part 20 Claim in the High Court […]

23 Feb 2024
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

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 […]

23 Feb 2024

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 […]

22 Feb 2024

QuotedData’s morning briefing 22 February 2024 – API, EBOX, ASLI

In QuotedData’s morning briefing 22 February 2024: Both abrdn Property Income Trust (API) and Custodian Property Income REIT (CREI) have adjourned their shareholder meetings to vote on the merger offer from CREI due to this week’s indicative offer for API by Urban Logistics REIT (SHED). API’s board said that it was assessing the possible offer […]

20 Feb 2024

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 […]

19 Feb 2024

QuotedData’s morning briefing 19 February 2024 – UTG

In QuotedData’s morning briefing on 19 February 2024: Unite Students (UTG) has entered into a joint venture framework agreement with Newcastle University for the development of 2,000 new student beds. The scheme will replace an existing student accommodation building at the university’s Castle Leazes site in Newcastle. The Castle Leazes site currently provides 1,250 beds […]

16 Feb 2024

QuotedData’s weekly news show 16th February 2024

Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Brunner (0:38) • Tritax Big Box REIT & UK Commercial Property (9:19) This week’s interview was with Richard Hulf from HydrogenOne Capital – watch it again […]

16 Feb 2024

SEGRO capturing strong rental growth

SEGRO reported rental growth across its portfolio of 6.5% during 2023, as occupier demand for logistics space remained strong. Net rental income grew 12.5% to £587m, including new developments and the rental growth within its existing portfolio. This was achieved in the backdrop of falling property values in the high interest rate environment. The group’s […]

16 Feb 2024

QuotedData’s morning briefing 16 February 2024 – CHIU, INPP

In QuotedData’s morning briefing 16 February 2024: CT UK High Income Trust has decided to cancel the listing of its units (CHIU). Until now, investors had been able to hold and trade in units in the fund that were comprised of three ordinary shares and 1 B share. Now, the units are being discontinued and […]

15 Feb 2024

QuotedData’s morning briefing 15 February 2024 – RKW, IVPG, IVPE, IVPM, IVPB, HOME

In QuotedData’s morning briefing 15 February 2024 Invesco Select (IVPG / IVPE / IVPM / IVPB) has published a circular in connection with its plan to merge its share classes into the global equity income pool. Nothing seems to have changed from the original proposal. Holders of the managed liquidity and balanced risk classes can […]

14 Feb 2024

Balanced Commercial Property Trust sells largest office holding

Balanced Commercial Property Trust has sold its largest office holding as it continues to reduce its exposure to the challenged UK offices sector and rebalance its portfolio. Contracts have exchanged for the sale of the Leonardo Building in Crawley, a 110,000 sq ft out-of-town business park office, for a price of £26.1m. This represents a […]

13 Feb 2024

FCA launches investigation into Home REIT

The Financial Conduct Authority (FCA) has launched an investigation into scandal-hit Home REIT. Trading in shares of the company has been suspended since January 2023 after allegations of serious wrongdoing by its manager Alvarium surfaced in a short-seller report in November 2022. The allegations in the short-seller report led to a delay in the publishing […]

13 Feb 2024

Life Science REIT lets up Oxford Technology Park building

Life Science REIT has fully let Building 5 at Oxford Technology Park (OTP), covering 57,000 sq ft to WAE Technologies Limited. The technology and engineering services provider, which delivers innovative solutions to a range of sectors including green energy, medical engineering and automotive, has signed a 10-year lease and will pay an annual rent of […]

12 Feb 2024

Tritax Big Box REIT in merger talks with UK Commercial Property REIT

A possible £3.9bn merger of Tritax Big Box REIT (BBOX) and UK Commercial Property REIT (UKCM) was announced this morning – although UKCM’s chairman has yet to support the deal. BBOX announced that both boards, excluding UKCM chairman Peter Pereira Gray, had “reached agreement on the key terms of a possible all-share offer” for the […]

12 Feb 2024

QuotedData’s morning briefing 12 February 2024 – WHR, SRE, RTW

In QuotedData’s morning briefing 12 February 2024: Warehouse REIT (WHR) has sold two assets in separate transactions for a total of £13.4m. The combined price is 3.7% ahead of the September 2023 book value and reflects an average net initial yield of 5.3%. The sales comprise Warrington South Industrial Estate, a 106,000 sq ft single-let […]

08 Feb 2024

QuotedData’s morning briefing 8 February 2024 – DGI9, BIPS, APAX, SYNC, HEIT, SHIP, AIRE, HLCL

In QuotedData’s morning briefing 8 February 2024: Digital 9’s (DGI9) sale of Verne Global may take longer than expected to close as the Icelandic anti-trust authority wants to look at the transaction. The company warns that this could add between 90 and 135 days to the wait for the final sign off of the deal. […]

07 Feb 2024

QuotedData’s morning briefing 7 February 2024 – UKCM, CREI, PSDL

In QuotedData’s morning briefing 7 February 2024: UK Commercial Property REIT (UKCM) posted a 2.5% fall in NAV to 78.7p per share in the quarter to 31 December 2023. The group’s portfolio value dropped 2.1% in the period to £1.25bn. On the operational side, the company grew earnings 6.3% over 2023 to 3.35p per share. […]

01 Feb 2024

QuotedData’s morning briefing 1 February 2024 – CVCE, CVCG, GABI, THRL, API

In QuotedData’s morning briefing 1 February 2024: CVC Income & Growth (CVCE / CVCG) is holding a tender offer in March. As part of this it is offering shareholders the chance to sell their shares on to third parties rather than wait for the tender. The broker Winterflood will try to sell the shares but […]

31 Jan 2024

QuotedData’s morning briefing 31 January 2024 – HSL, RESI

In QuotedData’s morning briefing 31 January 2024: Henderson Smaller Companies Investment Trust (HSL) announced its results for the half year ended 30 November 2023. NAV total return fell by 7.7% during the six month period, while the benchmark Numis Smaller Companies ex-Investment Companies Index was almost flat, and the AIC UK Smaller Companies sector average […]

30 Jan 2024

QuotedData’s morning briefing 30 January 2024 – UKW, RTW, IHR

In QuotedData’s morning briefing 30 January 2024: Greencoat UK Wind (UKW) announced the appointment of Abigail Rotheroe as a non-executive director of the company. Her appointment will be effective from 1 March 2024. Abigail is a CFA Charterholder and brings over 20 years’ experience in the investment industry. She is the former investment director of […]

29 Jan 2024

Grit Real Estate sells assets to fund US Embassy-let diplomatic housing developments

Grit Real Estate Income Group, the pan-African real estate company, has subscribed to its share of a $100m capital call from its development subsidiary GREA (Gateway Real Estate Africa), which will use the funds to construct US Embassy-let diplomatic housing and other real estate. To fund the $51.5m capital call, the company sold its interest […]

29 Jan 2024

QuotedData’s morning briefing 29 January 2024 – BOOK, GCP, DORE, LMS, BBOX

In QuotedData’s morning briefing 29 January 2024: Literacy Capital (BOOK) has provided a quarterly trading update and NAV announcement for the fourth quarter of 2023. Over the period BOOK saw a NAV uplift of $4.6m, or 7.7p per share, equal to a quarterly return of 1.6%. Its total NAV for the end of 2023 was […]

25 Jan 2024

QuotedData’s morning briefing 25 January 2024 – IAT, CORD, GRIT, GABI, AEWU, WKP

In QuotedData’s morning briefing 25 January 2024: Invesco Asia (IAT) says that from 1 May 2024, its two co-portfolio managers will swap roles, with Fiona Yang taking the lead from Ian Hargreaves, but will both continue to work very closely together on the portfolio. The directors say that they have been impressed by Fiona’s contribution […]

24 Jan 2024

QuotedData’s morning briefing 24 January 2024 – HOME

In QuotedData’s morning briefing 24 January 2024: Home REIT (HOME) has sold a further 103 properties at auction for £6.6m as the manager attempts to stabilise the portfolio. The sales price was 8.4% below the August 2023 valuation [there was no mention on the discount to acquisition cost (as has been the case in previous […]

23 Jan 2024

QuotedData’s morning briefing 23 January 2024 – USA, GPE

In QuotedData’s morning briefing 23 January 2024: Baillie Gifford US Growth Trust (USA) announced an update for the six months to November 30, 2023. The company’s share price and NAV  returned 12.3% and 4.1% respectively. This compares with a total return of 7.9% for the benchmark US index. Since launch on 23 March 2018, to […]

22 Jan 2024

QuotedData’s morning briefing 22 January 2024 – HGT, CREI, WHR

In QuotedData’s morning briefing 22 January 2024: HgCapital Trust (HGT) has announced that it has sold its entire stake in Argus Media, a leading independent provider of intelligence to the global energy and commodity markets. HGT will sell its shareholding to Argus’s current CEO Adrian Binks, and General Atlantic, a major minority shareholder. The transaction […]

19 Jan 2024

QuotedData’s weekly news show 19th January 2024

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Bankers (0:29) • Hipgnosis Songs (7:08) • API/CREI merger (8:52) This week’s interview was with Purvi Sapre from SDCL Energy Efficiency Income Trust – […]

19 Jan 2024

QD view – the REIT entry point

The start of a new year often brings optimism and that was certainly the case in the real estate sector as inflation around the world continued its downward trajectory, raising the prospect of interest rate cuts this year. That optimism, which had seen share prices among the UK listed property companies jump 15.5% over the […]

19 Jan 2024

Custodian Property Income REIT to merge with abrdn Property Income Trust

The boards of Custodian Property Income REIT (CREI) and abrdn Property Income Trust (API) have agreed to a merger of the two companies.  CREI will acquire the entire issued and to be issued share capital of API, with each API share receiving 0.78 new CREI shares The exchange ratio is based on the unaudited EPRA Net […]

18 Jan 2024

Home REIT replaces chairman

The chairman of scandal-hit Home REIT, Lynne Fennah, has been replaced by Big Yellow Group director Michael O’Donnell. Fennah will remain on the board as a non-executive director for “continuity”. The remaining directors of Home REIT’s board will all step down when the company publishes its financial results (still no date for this). Fennah and […]

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