Picton Property delivered strong income and valuation growth in annual results, with NAV up 4.2% to 100p per share and EPRA earnings up 5% to 4.2p. The company’s portfolio increased in value by 3.8% on a like-for-like basis to £723m, while contracted rent was up 3.0% over the year to 31 March 2025. Income growth […]
STS Global Income & Growth has published results covering the 12 month period ended 31 March 2025, and they are good. The NAV and share price return were both 10.9% over the period which compares to a return on the Lipper Global – Equity Global Income Index of 4.5%. The total dividend for the year […]
British Land expects its development pipeline to be the catalyst for growth over the next few years as a pinch in real estate supply takes effect. In annual results released today, the company said its central London office campus portfolio, which includes Broadgate in the City, was at an inflection point with valuations in the […]
Scottish Mortgage has announced results for the 12 months ended 31 March 2025. Over the period, it generated a NAV return of 11.2% and a share price return of 6.0%, which despite the implied discount widening, are both ahead of the 5.5% return delivered by the All-World Index. The statement stresses the importance of looking […]
In QuotedData’s morning briefing 22 May 2025: We also have: Did you miss from yesterday?
The Edinburgh Investment Trust (EDIN) has released its annual financial report for the year ended 31 March 2025, during which its net asset value (NAV) rose by 8.3% on a total return basis, underperforming its All-Share Index benchmark, which EDIN says increased by 10.5%. The share price advanced 11.3%, closing the year at 740p, reflecting […]
Apax Global Alpha (AGA) has announced that it expects to invest approximately €25m on a look-through basis into the Treasury and Capital Markets (TCM) division of Finastra, following the acquisition of the business by the Apax XI Fund. The transaction, announced by Apax XI on 19 May 2025, will see the carve-out and rebranding of […]
Third Point Investors (TPOU) has announced an all-share deal to acquire Malibu Life Reinsurance SPC (Malibu), marking a significant strategic pivot towards becoming what it describes a fast-growing, fully capitalised reinsurance operating company listed in London. The proposed acquisition – structured on a “NAV for NAV” basis – will see TPOU issue new ordinary shares […]
Hammerson has increased its ownership of north London shopping centre Brent Cross, with a £186m acquisition of abrdn UK Shopping Centre Trust (SCUT) stake. It has bought 95% of the units in SCUT, which holds the 59% of Brent Cross not already held by Hammerson, at a 16% discount to book value as at 31 […]
Two London offices developers announced annual results today that reflect a changing in fortunes for the much-maligned sector. Great Portland Estates (GPE) posted a 3.6% uplift in the value of its portfolio to £2.9bn, with the offices portion up 4.3%. This contributed to a 4.4% increase in EPRA net tangible assets (NTA) to 494p over […]
HICL Infrastructure (HICL) has announced its annual results for the year ended 31 March 2025, delivering robust operational performance despite macroeconomic headwinds and continued pressure on its share price. However, HICL’s net asset value (NAV) per share declined by 3.2% over the year to 153.1p (from 158.2p), largely due to a 40bps rise in the […]
In QuotedData’s morning briefing 21 May 2025: We also have: Stories you may have missed from yesterday:
Merger and acquisition (M&A) activity has boosted rents, earnings and dividend growth at LondonMetric, as it delivers an impressive set of annual results. Net rental income increased 123% to £390.6m in the 12 months to 31 March 2025, with EPRA earnings up 120% to £268.0m (up 20.7% on a per share basis to 13.1p), following […]
Caledonia Investments has announced results for the 12 month period ended 31 March 2025. The NAV return for the year was 3.3% but, as the discount narrowed from 39% to 35%, the return to shareholders was 10.2%. The discount today is 30.2% [it could and should, in my view, continue to narrow]. The NAV return […]
Riverstone Energy’s board has been talking to its manager about the strategic direction of the company. They have agreed that it is time to wind-down the company – sell the assets and return the proceeds to shareholders. Shareholders will need to approve the idea. To get that done, the company will soon be publishing a […]
Karl Sternberg will succeed Jean Matterson as chairman of Capital Gearing Trust (CGT). Karl was a founding partner of institutional asset manager Oxford Investment Partners, which was acquired by Towers Watson in 2013. Prior to that, he held a number of positions at Morgan Grenfell/Deutsche Asset Management between 1992 and 2004 including chief investment officer […]
In QuotedData’s morning briefing 20 May 2025: We also have: Did you miss from yesterday?
JPMorgan Indian Investment Trust (JII) has announced a package of proposals aimed at tackling persistent underperformance and a stubborn share price discount, following the conclusion of its strategic review and shareholder consultation. JII’s board says it remains committed to the existing quality-growth investment strategy, led by managers Amit Mehta and Sandip Patodia, and has ruled […]
In QuotedData’s morning briefing 19 May 2025: We also have: Stories you may have missed from Friday
Primary Health Properties (PHP) has made a counter bid for Assura that values the company at £1.68bn. The shares and cash offer would see Assura shareholders receive 0.3769 new PHP shares and 12.5 pence in cash. This includes the already paid quarterly dividend of 0.84p (paid on 9 April 2025) and the quarterly dividend of […]
Equity markets have been on a rollercoaster ride thus far in 2025, largely thanks to one man: President Donald Trump, and his somewhat idiosyncratic views on tariffs and trade. The best measure of this is the CBOE Volatility Index, or VIX, which represents investors’ expectation of volatility over the coming 30 days. Having been below […]
Land Securities delivered positive annual results with EPRA net tangible assets (NTA) increasing 1.7% over the 12 months to 31 March 2025, as real estate values returned to growth. The valuation of its portfolio was up 1.1% and is now worth £10.9bn. This reflected a return on equity of 6.4% and contributed to an EPRA […]
In QuotedData’s morning briefing 16 May 2025: We also have: Did you miss from yesterday?
NextEnergy Solar Fund says its board has approved a maintained dividend target of 8.43p per share for the financial year ending 31 March 2026. This is forecast to be covered in a range of 1.1x – 1.3x by earnings post-debt amortisation and the company can be reasonably comfortable making this prediction because there is a […]
In QuotedData’s morning briefing 15 May 2025: We also have: Did you miss from yesterday?
HydrogenOne Capital Growth (HGEN) has published its first quarter 2025 NAV and portfolio update, while its manager has published its latest “Hydrogen Handbook” – its annual hydrogen sector review. In its quarterly update, HGEN has reported a net asset value per share of 89.28p as at 31 March 2025, broadly unchanged from 90.39p at the […]
As promised, Polar Capital Global Financials Trust (PCFT) has launched a tender offer of up to 100% of its issued share capital (excluding treasury shares), offering investors an opportunity to fully exit at a price close to NAV. The proposal, which follows through on a commitment in the trust’s articles of association, is conditional on […]
Schroder Income Growth Fund (SCF) has published its half-year results to 28 February 2025, reporting a NAV total return of 2.9%, trailing its All-Share Index benchmark, which it says returned 5.2%. While performance lagged over the period, the board has unveiled a series of proactive steps aimed squarely at improving shareholder outcomes – including material […]
In QuotedData’s morning briefing 14 May 2025: We also have: Stories you may have missed from yesterday
Greencoat Renewables says that it has sold six Irish onshore wind assets for €156m. The 115.7MW disposal will translate into up-front consideration of €139m and €17m in non-contingent deferred consideration over 2026 and 2027. The proceeds will be used to reduce the company’s revolving credit facility. Gearing levels will be reduced from 54% reported at […]
