BBGI Global Infrastructure announces new dividend target alongside lacklustre results – BBGI Global Infrastructure (BBGI) has released its interim results for the six months to 30 June 2021. During the period, its NAV per share remained flat with its NAV stable at 137.8 pence per share. The company reiterated that it has delivered a total […]
In QuotedData’s morning briefing 27 August 2021: Primary Health Properties (PHP) has acquired the Townside Primary Care Centre and adjacent office building in Bury, Lancashire for a total consideration of £40m. The Townside Primary Care Centre is a substantial purpose-built primary care hub fully let to NHS Property Services and a pharmacy. The office accommodation is also fully […]
Greencoat Renewables calls EGM to consider new investment policy – Greencoat Renewables (GRP) has called an extraordinary general meeting, to be held next month, to consider proposed amendments to its investment policy. The amendments include adding Spain and Portugal to its definition of ‘other relevant countries’ and to clarify that investments in assets under construction or […]
British Land shares update on new strategy – British Land (BLND) has today published an update on its strategic progress, after first announcing its new business model and strategy in May 2021. Since highlighting its plans to “more actively focus capital on competitive strengths in development, active management and repositioning assets [by] investing behind campuses […]
In QuotedData’s morning briefing 26 August 2021: Stenprop (STP) has acquired Whitacre Industrial Park in Huddersfield and a portfolio of five MLI estates (the Duke Portfolio) across the UK, for a total consideration of £15.m. The combined purchase price reflects a net initial yield of 7.2% and a capital value of £64 per sq ft. Following these […]
AVI requisitions Third Point Investors to address ‘entrenched trading discount’ – Asset Value Investors (AVI), which manages AVI Global, along with three other shareholders in Third Point Investors (TPIL) have requisitioned the TPIL board to consider steps and actions to address its discount, as revealed in a letter published today. The key shareholders collectively own more […]
Ediston Property Investment Company has acquired Springkerse Retail Park, Stirling, for £21.85m, reflecting a net initial yield of 9.54%. The group has bought the 162,593 sq ft retail park from the proceeds of its sale of a Tesco supermarket, with the net operating income from the new acquisition 35% higher than the rent received from Tesco, […]
In QuotedData’s morning briefing 25 August 2021: Pershing Square Holdings (PSH) has released its half-year report for the six months to 30 June. During the period under review, it returned 7.3% in NAV terms and 4.7% in share price terms, behind its S&P 500 benchmark return of 15.2%. The discount currently stands at c. 25%, to […]
Blue Planet appears to be in dispute with big shareholder Minnow global trust Blue Planet, which has a market cap of about £13.6m, appears to be in dispute with one of its largest shareholders – Philip J Milton & Company. Since the arguments appear to be convoluted, we are reproducing the Blue Planet board’s statement […]
In QuotedData’s morning briefing 24 August 2021: Invesco Bond Income Plus has published its first set of accounts since it was created from the merger of City Merchants High Yield and Invesco Enhanced Income. Over the first half of 2021, it returned 4.3% in NAV terms and 3.3% in share price terms. The half-year dividend was […]
With innovative management teams and breakthrough-inspiring cultures, Moderna and Illumina have the technology and vision to progress a new era of healthcare. “It’s not just about the technology, it’s that in combination with the right people driving it: it takes revolutionary thinkers with an innovative mindset to see their vision through and make this progress […]
Shaftesbury, which owns a 16-acre portfolio in London’s West End, has reported a significant reduction in vacancy in a trading update as footfall and trading recover. The group said vacant available-to-let space across its portfolio of retail, hospitality, leisure and offices was down to 4.6% at 31 July (from 8.4% at 31 March). This decreased […]
In QuotedData’s morning briefing 23 August 2021: NewRiver REIT (NRR) has completed the sale of Hawthorn Leisure REIT, which held NRR’s entire community pub business, to AT Brady Bidco for £222m. There may be a further £4m, relating to a pending insurance claim, to be received by Hawthorn following the date of completion. Net proceeds (£216m) are expected […]
A trip to Mars may not be high on the average person’s to-do list, but Scottish Mortgage is prepared to embrace the radical thinkers and their companies striving to get us there. Civilisation on Mars might seem far-fetched. For Scottish Mortgage, however, we believe we must embrace seemingly unreasonable propositions to discover the most extraordinary […]
QuotedData’s weekly news show 20 August 2021 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: Apax Global Alpha Electra Pershing Square Watch it again here This week’s interview was with Abby Glennie from Aberdeen […]
At QuotedData, we don’t tend to make too much of a fuss about interim reports from investment companies. However, with the summer lull upon us, we have had a closer look than we might otherwise have at some interim statements this week and some interesting things have emerged. Good returns from growth-focused private equity Part […]
August has traditionally been a quiet month for property investment deals, as fund managers recharge their batteries ahead of a customary bumper final quarter of the year. Not this year, seemingly, with several high-profile deals going through in the last couple of weeks. For instance, LondonMetric sold a ‘big box’ warehouse for £102m earlier this week […]
LXi REIT has acquired three long-let property assets for a total of £80m, reflecting an accretive 5.25% average net initial yield, as it deploys the proceeds of its £100m equity raise in July. The three assets – a biotech campus in York, TV studios in Glasgow and a recycling facility in Aberdeen – have a […]
Pershing Square Holdings has published a letter issued by its SPAC, Pershing Square Tontine Holdings (PSTH), in relation to a law suit that has been filed against it that it is operating as an illegal investment company. Rather than copy and paste, we have reproduced the letter in full below. [QD comment: this is a […]
Good start for RWC at Temple Bar – Temple Bar (TMPL) has announced its interim results for the half-year ended 30 June 2021. The first half of 2021 saw TMPL perform extremely well as mispriced Value stocks generally did significantly better than the rest of the UK market. For the six months to 30 June 2021, the […]
In QuotedData’s morning briefing 20 August 2021: EP Global Opportunities (EPG) has announced its interim results for the half-year ended 30 June 2021. At the half-year end, EPG’s NAV was 314.6p, an increase of 2.0% from the 31 December 2020 NAV of 308.4p. After taking account of the final dividend of 6.0p per share that was paid […]
Aberdeen Standard European Logistics Income (ASLI) has reported an uplift in net asset value (NAV) in the quarter to 30 June 2021. The group posted a 1.6% increase in NAV to 123.6 euro cents (2.4% in pound sterling to 106.1p), which reflected a NAV total return of 14.7% in the year to 30 June 2021. […]
Chrysalis backs Tactus Holdings – Chrysalis Investments is making a £40m investment in Tactus Holdings Limited. Tactus is a consumer technology business specialising in gaming, education and entry level computing. It is committed to making technology more accessible to consumers all over the world. Tactus will use the money to accelerate its international buy-and build-strategy, with […]
Apax Global Alpha goes from strength to strength – Apax Global Alpha’s results for the first six months of 2021 are impressive. Highlights are: Total NAV return of 17.4% – driven by returns of 24.5% from the private equity portfolio and 9.8% from the derived investment portfolio (debt and equity positions in companies that Apax […]
In QuotedData’s morning briefing 19 August 2021: Custodian REIT has paid £1.9m to buy a 29,676 sq ft industrial unit on Wester Gourdie Industrial Estate, Dundee, adjacent to the A90. The unit is occupied by Menzies Distribution Limited with an unexpired term to first break or expiry of 5.2 years. The unit has a passing rent of £117,500 […]
Sirius Real Estate, the German business park owner and operator, has acquired four assets and one land parcel for €84.8m. The business parks are located in Oberhausen, Frankfurt, Heiligenhaus and Öhringen and provide over 150,000 sqm of lettable space. In addition, the company has acquired a land parcel adjacent to its existing asset in Neuruppin. […]
Boost for Riverstone Energy’s NAV thanks to ‘stabilised macro environment’ – Riverstone Energy (RSE) has posted its half-year results for the 6 months to 30 June 2021. During the period under review, the company saw an increase in its NAV per share of 50% (in GBP terms) while ending the period with a cash balance […]
In QuotedData’s morning briefing 18 August 2021: Seraphim Space (SSIT) pipeline company, Spire Global, a leading provider of space-based data, has completed its merger via a SPAC with NavSight Holdings. The combined company has been renamed Spire Global Inc and shares have started trading on the New York Stock Exchange under SPIR. As announced at Seraphim […]
Chrysalis backs InfoSum – Chrysalis Investments has made a $65m investment in the US based parent company of InfoSum, as part of its Series B scale-up round. Previous investors in InfoSum include IA Ventures and UpFront Ventures, among others. InfoSum is a data infrastructure business that has built a way for organisations to share data with […]
Electra demerger plan progressing – Electra Private Equity says that its board is confident that the value creation opportunity arising from both the demerger of Electra’s hospitality brands (mainly TGI Fridays) by spinning them off into a new company Hostmore, and the subsequent transition of Electra to AIM as the parent company of Hotter Shoes is […]
