Real Estate News
This sector includes mortgage companies, property management companies and REITs
This sector includes mortgage companies, property management companies and REITs
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew and Richard Williams covered the week’s top stories: Jupiter Green (0:25) Hammerson (6:37) Unite (11:20) This week’s interview was with Henry Butt from AEW UK REIT – watch it again here.
In QuotedData’s morning briefing 26 July 2024: Law Debenture (LWDB) has published its interim results for the six months ended 30 June 2024, during which it provided an NAV total return (with debt and Independent Professional Services (IPS) business at fair value) of 9.7%, and share price total return of 7.7%, both outperforming its All-Share […]
In QuotedData’s morning briefing 25 July 2024: JPMorgan European Discovery (JEDT) has announced a timetable for the first of the tenders that were announced on 20 June. There will be a meeting on 2 September to approve the tender. Forms will need to be in by 3 September, the result of the tender will be […]
In QuotedData’s morning briefing 24 July 2024: Greencoat UK Wind (UKW) announced its interim report for the six months to 30 June 2024. The company saw a NAV total return of -2.9% and a share price total return of -4%. The company declared total dividends of 5 pence per share with respect to the period […]
Unite Group has raised £450m in a placing, with the proceeds earmarked for a number of student accommodation acquisitions and development projects. A total of 49,686,114 new ordinary shares were placed, raising gross proceeds of approximately £447m. Shares were issued at a price of 900 pence, representing a discount of 2.6% to the closing price […]
In QuotedData’s morning briefing 23 July 2024: Digital 9 Infrastructure (DGI9) announced the appointment of Mr Philip Braun as an independent non-executive director of the company with effect from 22 July 2024. Further to the company’s announcement on 12 June 2024 and following Mr Philip Braun’s appointment to the board of DGI9, Mr Aaron Le […]
Hammerson has sold its retail outlets business Value Retail for £1.5bn, generating cash proceeds of £600m. The disposal of the stake in Value Retail, which holds nine outlet centres across the world including Bicester Village, was at a price that represented an exit cash yield of 3.4% and crystallised a 10-year IRR of 13%. It was, […]
In QuotedData’s morning briefing 22 July 2024: CQS Natural Resources Growth and Income (CYN) has declared its fourth interim dividend of 1.82p per share for the year ended 30 June 2024 (2023: 1.82 pence per share). It has also declared an additional special interim dividend of 1.00p per share, reflecting the fact that underlying core […]
Baroness Sharon Bowles has secured the chance to present a private members’ bill – the Listed Investment Companies (Classification etc) Bill [HL] – in the ballot to chose the first 25 private members’ bills to be considered by the House of Lords in this new parliament. The introduction of the bill is scheduled for Thursday […]
In QuotedData’s morning briefing 19 July 2024: Following an announcement on 22 May 2024 that it intended to offer its shareholders an “elective return of capital” for up to 10% of its issued share capital, Invesco Perpetual UK Smaller Companies (IPU) has now published a circular in relation to the provision of an elective Special […]
In QuotedData’s morning briefing 18 July 2024: Odyssean Investment Trust (OIT) raised £11.4m from its placing and retail offer (the latter made through Winterflood’s WRAP platform). 6,542,159 new shares will be issued at 174p each (NAV plus 1%), 361,041 of those were to the retail offer. [This isn’t too bad in the current environment, although, […]
In QuotedData’s morning briefing 17 July 2024: Tufton Oceanic Assets (SHIP) will return about US$31.5m by way of a compulsory redemption of up to 20,328,259 shares at US$1.550 per share (the as at 30 June 2024). The record date (when you have to be on the register to participate) is 14 August 2024. To illustrate, […]
The board of Home REIT has proposed a managed wind down of the company after failing to secure a refinancing of its debt facility. That loan facility with Scottish Widows, which totals £114.6m, will need to be repaid by the end of the year – all the while incurring a charge on the outstanding amount […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: Chrysalis (0:22) Schroder British Opportunities (0:39) Molten Ventures (0:51) Edinburgh Worldwide (1:05) Odyssean (6:08) Sirius Real Estate (9:25) This week’s interview was with Kenneth MacKenzie from Target Fund Managers – watch it again here.
A consortium formed of Hines and Grupo Lar has announced a voluntary cash tender offer to buy Lar España Real Estate – the Spanish shopping centre and retail park owner. The consideration offered to Lar España’s shareholders consists of €8.10 per share, paid in cash, which implies valuing Lar España’s share capital at €678m. The […]
Balanced Commercial Property Trust has sold two office assets for a total of £41.65m, further reducing its exposure to the sub-sector. The sales of 7 Birchin Lane, in London, and 82 King Street, in Manchester, were sold at a discount to book value (as 31 March 2024) of 7.2%. Following the sales, BCPT’s portfolio exposure […]
In QuotedData’s morning briefing 11 July 2024: Brett Miller has joined the board of Ecofin US Renewables (RNEW) as a non-executive director of the company with immediate effect. Brett, who has wide-ranging investment trust experience, particularly in the restructuring and managed run-off of a number of listed closed end funds across a range of asset […]
Sirius Real Estate has announced a proposed £150m capital raise. The placing of shares at an offer price of 94p is in line with its adjusted NAV at 31 March 2024. The capital raise will enable the company, which owns business parks in Germany and the UK, to execute on its ongoing acquisition strategy. Up to […]
In QuotedData’s morning briefing 10 July 2024: JZ Capital Partners (JZCP) has announced more detail on its planned return of capital to shareholders. The company will hand back about $40m on 25 July 2024 by redeeming 9,803,921 shares at $4.08 per share, equivalent to about 12.65% of investors’ shareholdings. The cash should be received by […]
In QuotedData’s morning briefing 9 July 2024: Schroder BSC Social Impact Trust (SBSI) released its annual impact report. The report demonstrates that the portfolio has positively impacted 400,000 people since inception, provided decent, affordable homes for 35,000 disadvantaged, vulnerable and lower-income people; and delivered £217m in benefits for the public, through savings to government and […]
Unite Group has upped its rental growth forecast for the forthcoming academic year to 7% (from 6%) due to high demand for its student accommodation, and said that the higher education policy remains stable under a Labour government. The company revealed that 94% of rooms were now reserved for the 2024/25 academic year, ahead of […]
At the outset of 2024, we challenged our analysts to come up with some ideas for investment companies that they liked, and thought could do well over the course of this year (click here to read the original article which set out our analysts’ thinking and why they liked the stocks). We also promised to […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, Matthew Read covered the week’s top stories: 0:00 Introduction 2:09 Tritax Eurobox 9:28 Castelnau 13:01 Andrew McHattie 13:22 Major Rises Over the Last Month 15:28 Major Fallers Over the Last Month 15:58 Technology Leading the Way 16:53 Technology Trusts 12-Months 18:17 […]
Ground Rents Income Fund has reported large valuations declines having released delayed full year results to September 2023 and updated to March 2024. Portfolio values fell 20.7% to £81.5m in the six months to 31 March 2024, having fallen 2.7% in the year to 30 September 2023. The decline included a negative valuation adjustment of […]
NewRiver REIT has acquired an asset management business, boosting its capital partnerships business to £1.5bn across a portfolio of 21 shopping centres and 18 retail parks, with 13 different partners. The company has bought Ellandi Management Limited, an asset and development management business focused on UK retail and regeneration, for £5m. The Ellandi business brings […]
In QuotedData’s morning briefing 4 July 2024: Polar Capital Global Financials (PCFT) has published six-month numbers covering the period ended 31 May 2024. The trust beat its benchmark, returning 18.2% in NAV terms and 23.3% in share price terms versus 15.9% for the MSCI All Countries World Financials Index. [We covered many of the reasons […]
in QuotedData’s morning briefing 3 July 2024: Downing Renewables & Infrastructure (DORE) announced that Downing Hydro has pre-qualified its first hydropower plant site for participation in the Frequency Containment Reserve markets (FCR) in Sweden. The FCR markets serve to stabilise the Swedish grid. The initial site pre-qualified is the Gottne hydropower plant. The site is […]
AEW UK REIT has reported a NAV total return of 5.0% for the year to the end of March 2024. NAV fell 2.6% to 102.73p per share due to the impact of higher interest rates on the value of its portfolio. However, dividends of 8p per share over the year brought its total return into […]
In QuotedData’s morning briefing 2 July 2024: JPMorgan Global Growth & Income (JGGI) announced that it intends to pay dividends totalling 22.80 pence per share (5.70 pence per share per quarter) in relation to its financial year commencing 1st July 2024. This is in line with its policy of paying out 4.0% of the company’s […]
Tritax EuroBox has announced that it has received more expressions of interest in buying the company, as the deadline for private equity giant Brookfield is extended. The company revealed that following the announcement of Brookfield’s possible cash offer for the company on 3 June, it was now in discussions with a “number of parties” that […]