Home REIT, the homeless accommodation investor, has fully invested the proceeds of its £240m initial public offering after the acquisition of 11 portfolios for £48.1m. The group, which launched in October 2020, now has a portfolio of 572 homeless accommodation properties that represent an average net initial acquisition yield of 5.83%. Significant remaining resources are […]
Ashoka India Equity (AIE) performed well over its interim results to 31 December 2020, with the share price and NAV delivering total returns of 39.1% and 28.6%. This compares with the benchmark MSCI India IMI index’s 27.1% return. Returns led by Infosys and Coforge while Bharti Airtel detracts Infosys, which had an ending weight in the portfolio of 7.5% at the […]
In QuotedData’s morning briefing 8 March 2021 – Gore Street Energy Storage Fund (GSF) announced that strong operational performance has led to further significant growth in its NAV. As at 31 December 2020, the estimated unaudited NAV represented a 2.4% increase over the previous quarter. Post period end, the company has made further progress in the commissioning of […]
QuotedData’s weekly news show 5 March 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: City Merchants High Yield/Invesco Enhanced Income merger Apax Global Alpha results Gore Street Energy Storage update Strategic Equity […]
If you listened into this week’s interview with Nick Brind, one of the managers of Polar Capital Global Financials Trust, you will have heard how rising long-term interest rates are helping to drive a recovery in the financials sector, particularly for banks. Long-term interest rates are climbing in part because investors are expecting that inflation […]
University students have been having a hell of a time of it during COVID. After the debacle of last September when they were encouraged to attend classes and take up accommodation only to then be effectively locked up while the virus ravaged through campuses, they have not just missed out on university life but have been expected […]
Helical has let an 88,500 sq ft office in Farringdon to TikTok. The social media giant has leased the whole of the Kaleidoscope building, which sits above the Farringdon East Crossrail Station, for a 15 year term with a tenant option to break at year 10. Comprising ground and five upper floors, Kaleidoscope was the first […]
The board of Drum Income Plus REIT has undertaken a strategic review into the company that it said could result in it selling off all its assets. The group, which was launched in 2015, has persistently traded at a significant discount to net asset value (NAV) having not reached a scale that makes its shares […]
BlackRock World Mining Trust (BRWM) has its annual results for the year ended 31 December 2020, during which the managers say they were delighted with the portfolio’s performance. During the year, BRWM provided NAV and share price total returns of +31.8%1 and +46.7%1 respectively. In comparison, BRWM says that its reference index, the MSCI ACWI Metals […]
Murray International (MYI) has announced its annual results for the year ended 31 December 2020, during which the overwhelming impact on its performance was the loss of 610 basis points due to stock selection, in what its chairman Kevin Carter (pictured), describes as an “an extraordinary chapter in the history of the world and financial […]
SDCL Energy Efficiency Income Trust (SEIT) has announced that it has signed framework agreements with two preferred development partners providing it with the right to invest in a series of energy efficiency assets in the UK and the United States. SEIT says that such framework agreements, with established developers and partners, can generate valuable organic […]
In QuotedData’s morning briefing 5 March 2021: The Renewables Infrastructure Group Limited (TRIG) has announced the publication of a prospectus and circular to put in place a new 12 month share issuance programme in respect of up to 600 million new shares. TRIG has also announced an Initial Issue, which will comprise the Initial Open Offer, […]
Strategic Equity Capital has substantial support for continuation – Strategic Equity Capital has published a circular convening a meeting on 30 March 2021. The meeting is to satisfy the requisition by two shareholders. At the meeting, shareholders will be asked whether they want to support the continuation of the trust. Strategic Equity Capital holds these […]
Alliance Trust celebrates 54 years of rising dividends – Alliance Trust has published results for the year ended 31 December 2020. Over the year, the share price increased to a near record high and the return to shareholders was 9.4%. In an volatile year, the net asset value total return of 8.5% lagged the 12.7% return on the […]
Supermarket Income plans fundraise as it picks up Tesco from Ediston – Ediston Property Investment Company (EPIC) has sold a Tesco Superstore, which forms part of Prestatyn Shopping Park, to Supermarket Income REIT. The sale price was £26.5m, which is equivalent to a net initial yield of 5.3%, in line with the property’s valuation as […]
In QuotedData’s morning briefing 4 March 2021: International Public Partnerships (INPP) has renewed its corporate debt facility for a further three years to March 2024. The new facility has the same overall £400m capacity but is structured more efficiently as £250m on a fully committed basis together with a flexible ‘accordion’ component which will allow for […]
Civitas Social Housing has secured Investment Grade credit rating with Fitch Ratings. It has been rated High Credit Quality rating of “A” (senior secured) and a Long-Term IDR (Issuer Default Rating) of “A-” with a stable outlook. The rating will allow Civitas to grow its debt funding strategy and gives it access the broader bond […]
Urban Logistics REIT has forward funded on a speculative basis the development of five assets in the East Midlands for £23m. The group has exchanged contracts with developer Wilson Bowden Developments, conditional on receipt of planning permission, to finance the construction of two sites in Nottingham and Leicester. The development yield on cost of 6.12% […]
Premier Miton Global Renewables (PMGR), formerly Premier Global Infrastructure, announced annual results covering the period to 31 December 2020. The total assets total return, measuring the return on the portfolio including all income and costs, (including the costs associated with the ZDP refinancing of £0.41 million), was 16.5%. PMGR said that this performance was well ahead of […]
JLEN Environmental Assets (JLEN) announced the acquisition of a 100% equity stake in Gigabox South Road (GSR). GSR holds the development rights to construct the West Gourdie project, a 50MW lithium-ion battery energy storage plant-based in Dundee. The acquisition will see JLEN invest up to £21.2m over the next 12-15 months. JLEN notes that the West Gourdie […]
In QuotedData’s morning briefing 3 March 2021 – Sequoia Economic Infrastructure Income (SEQI), the specialist investor in economic infrastructure debt, raised £110m in a placing. A total of 104,513,064 new ordinary shares will be issued at a price of 105.25 pence per share. Steve Cook, head of portfolio management at Sequoia Investment Management Company (SEQI’s manager), said: “We […]
Sirius Real Estate, the German business park owner, has completed the acquisition of a 8,800 sqm mixed-use business park in Fellbach, near Stuttgart, for €9.2m, reflecting an EPRA net initial yield of 6.0%. The asset is located adjacent to a business park already owned by Sirius, with the acquisition creating an enlarged business park comprising over 36,000 […]
Warehouse REIT, the multi-let industrial specialist, has acquired an asset at Glasgow Airport Business Park for £5.3m, reflecting a net initial yield of 6.3%. The asset, which comprises three units totalling 55,600 sq ft, is occupied by two global transport companies and a craft beer distributor. It generates an annual income of £357,000, equating to […]
Strategic Equity Capital pins its hopes on strategy shift – Strategic Equity Capital reports, on a total return basis, an 18.1% increase in its NAV and 19.3% increase in its share price over the second half of 2020. These numbers lag the 28.5% return posted by the FTSE Small Cap Index, the manager attributes this to […]
Sunny days for Bluefield – Bluefield Solar’s interim results for the six months ended 31 December continue on a positive note. Highlights are: Shareholders approved an expansion of the company’s remit to include investment outside of solar infrastructure assets, notably wind and energy storage. Shareholders also approved an update to the dividend policy. Bluefield completed […]
RIT Capital shrugs off effects of virus – RIT Capital Partners results for the year ended 31 December 2020 show an NAV total return of 16.4% for the year, which compares to 12.7% for the MSCI All Countries World Index and 4.2% for the company’s performance objective of inflation (as measured by the RPI) plus 3% […]
Apax Global Alpha’s results for the year ended 31 December 2020 show the company generating a return of 14.8% on NAV, as the NAV hit €2.45 (219p) at the year end and the company declared dividends totalling 10.15p for the year. The private equity portfolio generated a return of 25.4% in euros (the currency that […]
In QuotedData’s morning briefing 2 March 2021: Syncona (SYNC) notes that Achilles Therapeutics, a clinical-stage biopharmaceutical company developing precision T cell therapies to treat solid tumours, announced it has filed a registration statement in relation to a proposed IPO. Syncona owns 44% of Achilles which it values at £72.4m. RTW Venture Fund (RTW) participated in a Series […]
Greencoat Renewables (GRP) reported final results for the year to 31 December 2020, with key highlights from the year including the following: 2020 Generation increased by 22% to 1,404GWh, 3 per cent below budget. (2019: 1,154GWh) 2020 Net cash generation increased by 36% to €66.4 million (2019: €48.7million) Dividend cover for 2020 of 1.7x Increased the portfolio […]
NextEnergy Solar (NESF) announced the acquisition of the UK based Camden solar photovoltaic portfolio comprising two projects totalling 100MWp for a total consideration of c.£64.3m. The portfolio has a 15-year power purchase agreement (PPA) in place covering c.75% of the electricity to be generated over the life of the PPA. The PPA counterparty is AB InBev, the world’s largest […]
