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BMO Real Estate Investments reports 3.1% drop in NAV

BMO Real Estate Investments has reported a 3.1% fall in its net asset value (NAV) for the quarter to the end of June. The group said the unaudited NAV per share at 30 June 2020 was 96.6 pence (31 March 2020: 99.7 pence). The NAV fall was due to a 2.5% drop in the value […]

Yew Grove REIT expects 98% rent collection

Yew Grove REIT, which owns a diverse portfolio of Irish commercial property assets, expects 98% rent collection this quarter. The company said in a trading update that all of the rent that has been billed has been paid with the exception of: around 1% from a large multi-national that has been delayed due to a […]

Stenprop sells Berlin retail park for €27m
Stenprop sells Berlin retail park for €27m

Stenprop has exchanged contracts to sell a retail park in Berlin for €27m. The disposal of Neucölln Carrée retail park to Union Investment reflects a €3.6m premium to the 31 March 2020 book value and is the latest step in Stenprop’s transition into a fully-focused UK multi-let industrial (MLI) property company. As at 31 March 2020, around […]

Hipgnosis buys catalogue from Red One

Hipgnosis buys catalogue from Red One – Nadir Khayat, a Moroccan/Swedish singer, songwriter, record producer and record executive. Hipgnosis has acquired 100% of RedOne’s Songs and Recorded Music interests including Copyright,  Writer Royalties and Producer Royalties in his catalogue comprising 337 songs. RedOne has co-written or produced songs and albums which have achieved 185 Number 1 […]

QuotedData’s morning briefing 16 July 2020
Aberdeen Frontier Markets - Incentivised to perform

In QuotedData’s morning briefing 16 July 2020: Aberdeen Frontier Markets has published a circular ahead of its planned winding up. If shareholders approve liquidation on 14 August, the shares will stop trading on 18 August. Jupiter Emerging and Frontier Income has redeemed 4,607,803 shares at 88.08p to leave 85,465,171 shares in issue. Tetragon Financial has obtained […]

Gore Street on track for further growth

Gore Street on track for further growth – Gore Street Energy Storage has announced results for the year ended 31 March 2020. The NAV total return for the period was 10.6% and the NAV finished the year at 94.6p. Shareholders saw a total return of 15.2% as the share price rose further than the NAV to […]

HICL is fundraising
HICL Infrastructure HICL

HICL is fundraising – HICL Infrastructure has announced a placing of new shares today. It is looking for enough money to repay its £75m revolving  credit facility. It will issue new shares at 164p. a 5.75% discount to the closing price on 15 July and a 7.7% premium to the last reported NAV, as at […]

Augmentum proves resilient in face of crisis

Augmentum proves resilient in face of crisis – Augmentum Fintech has announced results for the year ended 31 March 2020. Over that period, the NAV increased by 5.9% to 116.1p as the portfolio was written up in value by £12.7m. There is no dividend. The shares collpased to trade at a 41.6% discount in the general […]

JZ Capital Partners calls August EGM to amend investment policy
JZ Capital announces tender offer

On 22 April, JZ Capital Partners (JZCP) announced a proposed change to its investment policy, to which it would make no further investments except in respect of which it has existing obligations or to the extent that investment is applied to provide support to selected existing investments. The intention of the change is to realise the […]

QuotedData’s morning briefing 15 July 2020
GCP Infrastructure Investments

GCP Asset Backed Income (GABI) said that so far, in the current financial year to 31 December, it has received all expected interest and principal on time and in full, while also generating significant fees from early loan repayments. In its outlook, GABI said: “The loan book continues to perform and the dividend remains fully covered. The […]

PRS REIT reports slowdown in completions
PRS REIT completed 256 new rental homes in final quarter of 2019

The PRS REIT, which invests in new-build family homes in the private rented sector (PRS), has reported a slowdown in home completions due to covid-19. During the quarter to the end of June, it completed 135 new rental homes, which was below the prior quarter volume of 330. This was due to an eight week period […]

QuotedData’s morning briefing 14 July 2020

In QuotedData’s morning briefing 14 July 2020: Pollen Street Secured Lending shareholders remain in limbo as the deadline for Waterfall making an offer for the company is extended again. This time until 5pm on 11 August. Standard Life Private Equity’s estimated NAV edged higher in May to 431.2p from 427.7p. 99% of the valuations of […]

Polar Capital Technology beats benchmark in wild year
Polar Capital Technology amends fees

Polar Capital Technology has published results for the year ended 30 April 2020. Over the period, the NAV total return was just ahead of that of the benchmark, +18.6% against +18.1% for the Dow Jones World Technology Index. Shareholders saw the elimination of the discount, however and this lifted their return to +31.0%. Following the […]

Alternative Income REIT expects 84% rent collection rate for Q3

Alternative Income REIT has said it expects to collect at least 84% of rent for the current quarter by September. The group, which owns a diverse portfolio of 19 long-let properties, has provided a breakdown on rent collection in which: 89% of tenants that pay quarterly rents (representing 70.4% of total quarter rent including monthly) […]

QuotedData’s morning briefing 13 July 2020

Ruffer (RICA), the flexible investment sector fund, delivered total NAV and share price returns of 10.1% and 12.4%, respectively, over the year ending period to 30 June. The portfolio’s protective assets led returns through the downturn, with positive contributions over the last six months coming from credit protection (+6.2%), gold (+5.1%), index-linked bonds (+3.9%) and option protection (+3.3%). The equity book was […]

Not everything in Baillie Gifford’s garden is blooming

Not everything in Baillie Gifford’s garden is blooming – Baillie Gifford Japan has struggled to match its benchmark and its peers in recent years Amid the uncertainty that COVID-19 has created, investors have been looking to technology stocks and companies with strong defensible business models, reasoning that these can persevere even in a recession. That has […]

Where are the property bargains?
Where are the property bargains?

With so many REIT’s having de-rated heavily, sifting out the companies that were swept along in the coronavirus slump and left with unmerited discounts is fraught with danger. We have seen industrial and logistics specialists bounce back strongly due to a lockdown acceleration in the sector’s fundamentals, namely ecommerce penetration rates. However, more generalist companies that […]

Great Portland Estates taps into deposits to collect 69% of rents

Great Portland Estates (GPOR) has collected 69% of rents for the current quarter, and in doing so has tapped into rent deposits. The London office developer said collection figures were at 58% excluding deposits. From its office portfolio it had received 74% and from its associated retail/hospitality units it had collected 28%. The group had […]

Impact Healthcare collects 100% of rents but occupancy falls by 8%

Care home investor Impact Healthcare REIT has collected 100% of rents in advance for the current quarter, but occupancy falls by 8%. As a result of the uninterrupted collection, the company has reaffirmed its intention to pay its second-quarter interim dividend, for the period from 1 April to 30 June, in line with expectations with […]

QuotedData’s morning briefing 10 July 2020

In QuotedData’s morning briefing 10 July 2020: Carador Income Fund has announced the final redemption and de-listing of its redemption pool shares. G GCP Asset Backed Income (GABI) has announced that it has exercised its option to extend its £50m revolving credit with the Royal Bank of Scotland International Limited. The facility will now expire in […]

Aberdeen Emerging Markets backs the right funds

Aberdeen Emerging Markets has announced its interim results for the six months ended 30 April 2020, during which stock selection was positive, showing that the managers backed the right funds. However, the period includes the market collapse following the outbreak of the pandemic in March, followed by a partial recovery in April and, reflecting this, […]

Primary Health Properties reports 7.1% jump in earnings
Primary Health Properties buys medical centres portfolio for £47.1m

Primary Health Properties has reported a 7.1% increase in earnings in a trading update for the six months to the end of June. The company, which owns a portfolio of primary healthcare facilities, said adjusted EPRA earnings per share grew to 3.0p (June 2019: 2.8p). This was off the back of an average uplift of 2.2% per […]

Town Centre Securities collects 68% of reduced rent bill
Town Centre Securities provides covid-19 update

Town Centre Securities has collected 68% of rents billed for the current quarter. Of the £5.2m billed, which is down on the £6.6m it billed the previous quarter, it collected £3.5m. It has also agreed a deferment on £0.6m (11%) of rent. In the previous quarter, it has collected 79% of the £6.6m billed and […]

Workspace collects 65% of rents
Workspace collects 50% of rents and puts dividend under review

Workspace Group has collected 65% of rent due this quarter, it has revealed in a trading update. The London flexible office provider said this compared to 80% at the equivalent time last year. Cash collection for the April to June quarter was now at 75%. Encouragingly, customer enquiries steadily improved during the quarter with 765 […]

QuotedData’s morning briefing 9 July 2020

In QuotedData’s morning briefing 9 July 2020: NewRiver REIT says 81% of retailers in its portfolio are now open for business (81% based on gross rent). Of the rent due on 24 June, 71% has either been collected or had alternative payment terms agreed with occupiers. 1% of rents have been waived. Rents collected for 25 March […]

Atlantis Japan discount widens despite dividend hike
Atlantis Japan has another great year

Atlantis Japan discount widens despite dividend hike – Atlantis Japan Growth Fund has announced results for the year ended 30 April 2020. Over the year, the NAV total return was -3.3%, which compares to a +0.8% return from TOPIX. The discount widened and so investors saw the share price drop by 8.5%. At the 2019 AGM, shareholders […]

SQN Asset Finance Income’s manager says sustainable dividend unlikely to be re-established in the near future
SQN : SQN Asset Finance Income's operational focus supports performance

Leasing sector company, SQN Asset Finance Income (SQN), has released a detailed investment update from its manager, KKV Investment Management (KKV). KKV took on responsibility for the portfolio in June.The update covers SQN’s ordinary and C share classes. ‘Sustainable dividend unlikely to be re-established in the near future’ Some of the high-level highlights made in the report, […]

QuotedData’s morning briefing 8 July 2020

Bluefield Solar Income (BSIF)’s investment advisor, has announced the hiring of Baiju Devani as UK investment director. Baiju joins as part of BSIF’s evolution (click here to read more), bringing with him significant wind expertise.He is joining from from Ingenious, where he was a fund manager within its infrastructure division from August 2013 to December 2019. […]

Hg invests in F24

Hg has entered into an agreement to invest in F24, a pan-European sector leader for emergency notification, crisis & incident management and critical communications, headquartered in Munich, Germany. Hg will invest in a stake currently owned by Armira and co-founder Ralf Meister, and will become the majority shareholder in the business. The executive board, Dr. […]

RDI REIT collects 70.1% of rents in June

RDI REIT has collected 70.1% of rents due in June. This figure reflects both quarterly payments and monthly payments and compares to the 54.0% it collected in the same time post the March quarter due date. The group said it expects the current collection rates to improve or, in certain cases, result in agreements to remove break […]

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