Alternative Income REIT has collected 91.4% of rent for the COVID affected final nine months of 2020. It said payment plans were in place on the remaining 8.6%. For the first quarter of 2021, it has collected 80.4% of quarterly billed rent and has agreed or is in the process of agreeing rent concessions with […]
UK Commercial Property REIT has posted a 3.2% increase in net asset value (NAV) in the quarter to the end of December 2020. The group, which owns a diverse portfolio of property weighted to the industrial sector, saw the value of its portfolio rise 2.9% on a like-for-like basis in the period to £1.21bn. Together […]
JLEN buys Codford Biogas – JLEN Environmental Assets is buying an electrical exporting food waste anaerobic digestion plant. The deal involved the purchase of a 100% equity stake in Codford Biogas Limited. This is the holding company for the Codford anaerobic digestion plant in Wiltshire. The plant is permitted to process 100,000 tonnes of food waste each year. […]
EPE Special Opps updates on profitable year – EPE Special Opportunities has taken the unusual step of making a trading statement on its performance for the year ended 31 January 2021. Audited accounts covering the same period will be published, probably in a couple of months. [The trust might be keen to explain its run of […]
In QuotedData’s morning briefing 4 February 2021: SDCL Energy Efficiency Income Trust have announced a £100m placing (94.3m shares at 106p). The price is a 3.9% premium to the end September NAV and a 1.4% discount to last night’s closing price. The money would go into commercial and industrial solar projects across the United States in […]
Standard Life Investments Property Income Trust has reported a 4.1% increase in net asset value (NAV) in the quarter to the end of December 2020. NAV total return for the period (including the payment of dividends) was 5.0%. The increase in NAV, to 82.0p per share from 78.8p in September 2020, was primarily down to […]
Great Point Entertainment Income (FILM) announced its intention to launch an IPO on the specialist fund segment of the LSE, for a target issue of 200m ordinary shares at an initial issue price of £1.00 per ordinary share. The prospectus is expected to be published on or around 11 February 2021. FILM will provide project […]
In QuotedData’s morning briefing 3 February 2021 – Chenavari Toro Income (TORO) reported annual results to 30 September 2020, with the total return NAV coming in at -11.2%. The share price total return was -15.2%. TORO’s chairman, Frederic Hervouet, noted that “TORO’s base case was assuming a second wave of defaults in H1 2021 with the annualised […]
QuotedData will be hosting a Round the World webinar series each Wednesday in February. Each weekly event will include 3 – 4 managers focused on a specific region of the world who will present their companies and answer your questions. It starts tomorrow with the following line up. Week 1 – 3rd February – Europe, including managers […]
AIM-listed self-storage company Lok’nStore has said its development pipeline will add 33.1% to the lettable area of its portfolio. The company gave an update on its new store development pipeline which comprises: The exchange of contracts to purchase a new 56,000 sq ft store in Staines that is due to open in 2022; The purchase […]
LondonMetric Property has acquired £21.9m of convenience service stations across three separate transactions reflecting a blended net initial yield of 5.1%. The seven assets have a weight average unexpired lease term (WAULT) of 18 years and all benefit from contractual rental uplifts. The transactions comprise four Co-op convenience service stations in Basingstoke, Dagenham and South […]
Care home investor Target Healthcare REIT has posted a net asset value (NAV) total return for the quarter to the end of December 2020 of 1.8%. The group’s EPRA NAV notched up 0.2% in the period to 108.2p per share, reflecting a 0.8% increase in the value of its portfolio to £647.7m. It paid an […]
Civitas Social Housing has agreed a new debt facility that will allow it to grow its portfolio. The group made the announcement with its quarterly net asset value (NAV) update today, but said the terms of the facility would be revealed shortly. It added: “Following completion of certain formalities and on drawdown the company expects […]
Round Hill Music proceeds with pipeline purchase – in Round Hill Music Royalty Fund’s prospectus, it identified a portfolio of catalogues – the Pipeline Investments. These comprise the existing assets of Round Hill Fund One, a private fund whose investments are managed by Round Hill. The Pipeline Investments were independently valued with an aggregate valuation of […]
In QuotedData’s morning briefing 2 February 2021: BlackRock World Mining has revalued its investment in OZ Minerals Brazilian Royalty from $23.6m to $30.1m, adding 2.7p to its NAV. BlackRock Throgmorton Trust has appointed Merryn Somerset Webb as a non-executive director with effect from 24 March 2021. Merryn is the editor-in-chief of MoneyWeek, the UK personal finance magazine […]
NextEnergy Renewables (NREN) announced its intention to launch an IPO and to seek admission to the premium segment of the LSE main market. NREN is seeking to raise up to £300m at an issue price of £1.00. NREN expects to publish its prospectus in early February. The announcement notes that “NREN is a differentiated renewables investment company […]
Digital 9 Infrastructure today announced its intention to launch an IPO on the specialist fund segment of the main market of the LSE, by way of an initial placing and offer for subscription for a target issue of 400m ordinary shares at an initial issue price of £1.00 per ordinary share. The IPO Prospectus is […]
Gresham House Energy Storage (GRID) has acquired a 35MW battery project located in North Shields, Tyne and Wear and a 10MW battery project located in Essex. This transaction follows GRID’s recent acquisitions of two 50MW projects (Wickham and Thurcroft) and the 25MW Tynemouth project (click here to read more). The acquisition increases GRID’s operational portfolio to 395MW. GRID notes that […]
In QuotedData’s morning briefing 1 February 2021 – BlackRock Income and Growth (BRIG) reported annual results to 31 October 2020. During the year the company’s NAV per share returned -16.7%. At the share price level, the company returned -14.8% over the period. As at 28 January 2021, since the year-end BRIG’s NAV and share price have […]
US biotech giant Biogen – in which the Swiss investor BB Biotech (SIX:BION) holds a stake equivalent to 2.9% of its portfolio value – has seen its stock open up 7% this morning on the back of announcement by the FDA of a three-month delay in the review of the controversial Alzheimer’s therapy aducanumab. The […]
QuotedData’s weekly news show 29 January 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: Standard Life Private Equity Update Riverstone Energy Transformation IPOs – VH Global Sustainable Energy Opportunities and Cordiant Digital […]
Discounts sometimes do weird and wonderful things but one odd situation at the moment is a 6%+ discount on Polar Capital Technology Trust (PCT). An investment in this fund 12 months ago would have made you over 40% on your money. When we published our last note on the trust (in December), it was comfortably […]
Timing is everything in property, and it looks as though Tritax Big Box REIT has got it spot on again with its foray into development. Having launched in 2013, when the logistics sector was seen as the ugly cousin of the glamourous retail sector, the group foresaw the online shopping revolution way before anybody else. It […]
Cordiant Digital Infrastructure has published a prospectus in relation to its initial public offering (IPO). As promised, here is a link to the prospectus, which was published today. As the prospectus makes clear, access to the issue is subject to some geographical restrictions. Make sure you read these. As always, we aren’t recommending that you buy the […]
Impact Healthcare REIT, the care home owner, has increased its dividend target for the year to 31 December 2021 by 1.9% after a strong year. The group said its target dividend for the year is 6.41p per share from 6.29p, in line with the inflation-linked rental uplifts it received in 2020. Net asset value was […]
Schroder REIT has collected 85% of rent billed for the first quarter of the year, the company has announced. The sector breakdown of rent collected so far was: offices 94%, industrial 97% and retail/leisure 54%. The group said it expects to recover a “significant portion” of the outstanding amount. Asset management The company completed the […]
BMO Commercial Property Trust’s net asset value (NAV) has nudged up slightly in the quarter to the end of December 2020. The group posted a 0.5% increase in NAV to 117.5p per share, with its property portfolio up 0.2% in the period to £1,227.9m. The stable valuation was down to the strong performance of its […]
Stenprop has reported a 25% average uplift on new industrial lettings in a trading update for the fourth quarter of 2020. The group said the 39 lettings made during the period and the 18 lease renewals were 25% and 24% ahead of previous passing rents and totalled £1.51m of rent per annum. Like-for-like passing rent […]
CLS Holdings has acquired three offices in Germany for a combined €89.7m. The company has exchanged contracts to buy Hansaallee 299, in Düsseldorf, Storkower Strasse 132, in Berlin, and Wendenstrasse 408 in Hamburg. It has paid a net initial yield of 4.8% for the three properties. Combined, the three offices are 93% occupied by 31 tenants and have […]
Custodian REIT (CREI) has announced the sale of four retail properties at auction. The properties are located in Chester, Scarborough, Bedford and Llandudno, and were all originally acquired within larger portfolios in 2014 and 2015. They have been sold for an aggregate sale price £1.6m, which CREI says is in line with the properties’ most […]
