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 […]
In QuotedData’s morning briefing 29 January 2021: LondonMetric has appointed a new non-executive director. Kitty Patmore, currently chief financial officer at Harworth Group, has joined the board with immediate effect. She has 15 years of finance, banking and real estate lending experience. Sirius Real Estate said it has collected 98% of rent in 2020, writing off […]
Residential Secure Income has collected 99% of rent for the quarter, a rate that has been unchanged throughout the pandemic. The group said this demonstrated the secure nature of its cashflows from its affordable shared ownership, retirement and local authority housing portfolio, with rents underpinned by pensions, housing welfare, below market rents and shared owner stakes. […]
Tritax Big Box REIT has collected 99% of rent for 2020, it has announced in a quarterly business update. The group said the remaining 1% was subject to deferral arrangements and due to be collected by mid-2021. For the current quarter, the group has so far collected 93%, which it expects to increase to 100% […]
Workspace Group, the flexible office space provider, has reported tenant enquiry levels were 33% down on last year, in a quarterly business update. It said average monthly enquiries in the final quarter of 2020 (the third quarter of its financial year) was 672, versus 1,001 in the same period in 2019. Lettings, however, were at […]
Picton Property has reported a 3% rise in net asset value (NAV) in the quarter to the end of December 2020. The group, which owns a diverse property portfolio weighted towards industrial, said EPRA NAV per share was 95.5p at 31 December 2020, up from 92.7p at 30 September. NAV total return (including dividends paid) […]
Foresight Solar wants battery access – Foresight Solar Fund Limited plan to ask shareholders to approve a change to the company’s investment policy, to allow for up to 10% of the gross asset value (at the time of investment) to be invested into utility scale battery storage system opportunities. The majority of these are currently intended to […]
Riverstone backs Freewire – Riverstone Energy has agreed to invest $10m in FreeWire Technologies, Inc., a leading provider of battery-integrated DC fast chargers (DCFCs) and their associated software. Another Riverstone fund also participated in the transaction, also investing $10 million for a total investment of $20 million from Riverstone affiliated investment vehicles. Based in the San […]
Apax sells Signavio – Apax Global Alpha says that the Apax Digital Fund, which Apax Global Alpha is a limited partner in, has agreed to sell Signavio, a leading provider of business transformation solutions, to SAP. The transaction values Apax Global Alpha’s look through investment in Signavio at approximately €8.7m. This represents an uplift of about 80% […]
In QuotedData’s morning briefing 28 January 2021: VH Global Sustainable Energy Opportunities raised £242.6m from its IPO. Dealings in the ordinary shares will commence at 8.00 a.m. on 2 February 2021. CATCo Reinsurance Opportunities says its unaudited NAVs for the ordinary shares and C shares were $0.2828 and $0.5071 respectively, as at the close of business on […]
BMO Real Estate Investments (BREI) has posted a 3.5% rise in its net asset value (NAV) for the quarter to 31 December 2020. The unaudited NAV was 98.1p per share (30 September 2020 : 94.8p), the increase driven by a 2.4% increase in the value of its property portfolio to £317.8m. With the 0.85p quarterly […]
Real Estate Investors, which owns a portfolio of property in the Midlands, collected 95% of rent in 2020, including agreed deferred payments. For the first quarter of this year it has collected close to 90%, including deferred payments. Portfolio update The group said occupancy on its 53-asset strong portfolio was 91.6% at 31 December 2020 […]
Warehouse REIT has collected 96% of rent for its financial year to the end of March 2021, it announced as part of a trading update. For the current quarter, it has received 95% of rent (including 3% that has been deferred). This, it said, was higher than the equivalent date for the previous three quarters. […]
The direct lending sector fund, KKV Secured Loan (KKVL), formerly SQN Asset Finance Income), reported its annual results for the year-ending period to 30 June 2020. In NAV total return terms, the ordinary shares delivered -56.1% and the C shares -25.0%. The period-ending discounts for the ordinary and C shares were 11.9% and 16.4%. We […]
