BMO Capital and Income Investment Trust has announced results for the year ended 30 September 2020. It underperformed its benchmark by 4.4% (NAV return of -21.0% versus -16.6% for the All-Share Index). The return to shareholders was -20.3%. The dividend has been increased by 0.9% to 11.5p, extending an broken chain of annual dividend increases to […]
Nippon Active Value targets Sakai Ovex – Nippon Active Value Fund owns a 5%+ stake in Sakai Ovex (no. 3408, listed on the first section of the Tokyo Stock Exchange). Today, the fund’s manager (Rising Sun Management) has sent a proposal to Sakai Ovex Co proposing that its board consider a management buyout of the whole company. This […]
In QuotedData’s morning briefing 26 November 2020: JLEN Environmental Assets Group’s half year results show a small drop in NAV from 97.5p to 96.1p, driven by falling power and gas price estimates. Dividends are on target, however and these are covered by cash generated from operations. Montanaro UK Smaller’s interim results show it lagging its Numis […]
London office developer and landlord Helical has posted a 3.2% fall in net asset value (NAV) for the six months to the end of September. NAV for the half-year came in at £579.2m, compared to £598.7m at the end of March, with EPRA net tangible asset per share down 3.6% to 505p (March 2020: 524p). […]
In QuotedData’s morning briefing 25 November 2020: Gresham House Energy Storage has successfully raised gross proceeds of £120m through the issue of 114,285,714 shares at 105p. The issue was oversubscribed. The money will enable the company to finance up to six new near-term acquisitions totalling 245MW. RDL Realisation says that it intends for the company to become […]
Countrywide shareholders opposed to Alchemy fundraise – On 22 October 2020, Countrywide announced a proposed recapitalisation that included an equity raising of approximately £90m fully underwritten by Alchemy Partners. However, discussions with shareholders have indicated insufficient support for this proposal in its current form, but also a recognition of the need for new capital and a […]
Troy Income confirms dividend cut – Troy Income & Growth Trust says that for the year to 30 September 2020 its NAV return was -9.1% and its share price return -11.6%. At the start of the period the shares were standing at a premium to NAV of +1.1%. A year later the share price had moved to a […]
In QuotedData’s morning briefing 24 November 2020: Gore Street Energy Storage says its Drumkee project, a 50MW installed capacity project located in Northern Ireland, has been energised on schedule. Drumkee is now the largest energy storage project in Ireland. Mullavilly, Gore Street’s second 50MW Northern Irish project, is expected to be energised in December. Both Drumkee and […]
LXI REIT has reported a 2.9% fall in EPRA net tangible assets (NTA) in half-year results, as the value of its hotel and leisure portfolio took a hit during the pandemic. The company, which specialises in inflation-protected long income real estate, posted an EPRA NTA of 120.8p at 30 September 2020, compared to 124.3p at […]
Sirius Real Estate, the operator of business parks in Germany, has posted a 5% increase in net asset value (NAV) in half-year results to the end of September. The growth in NAV per share to 81.18c (March 2020: 77.35c) was mainly driven by a 4.3% uptick in the value of its portfolio to €1,229.7m. Sirius […]
Harworth Group has acquired an industrial park in Merseyside for £26m, as it continues to grow its exposure to the sector. The developer and investor has bought Saturn Park in Knowsley at a net initial yield of 7.7%. Located on a 35.2-acre site, Saturn Park comprises 416,000 sq. ft of modern warehouse space across three units […]
Schroder BSC Social Impact Trust announces float – Schroder BSC Social Impact Trust intends to launch an initial public offering (IPO) and to admit its shares on the premium segment of the Official List of the Financial Conduct Authority and to trading on the main market of the London Stock Exchange. The company is targeting an […]
Macau Property Opportunities rejigs management fee – COVID-19 is delaying the realisation of the company’s assets. Macau Property Opportunities has been in realisation mode since 2016. During 2020 the manager has achieved asset disposals of the two remaining individual units in One Central Residences and two further residential units and a car park space in the […]
KKV Secured Loan issue valuation update – following an reappraisal of the whole portfolio, assisted by the review of certain assets undertaken by KPMG, the net asset value as at 30 June 2020 is currently expected to be £128.8m (36.2p per share) for the ordinary shares and £94.7m (68.2p per share) on the C shares. However, […]
Greencoat invests in Humber Gateway – Greencoat UK Wind has agreed to acquire a 49% stake in the Humber Gateway offshore wind farm from RWE, in partnership with a number of pension funds investing through a fund also managed by Greencoat Capital. Greencoat UK Wind will acquire a net 38% stake in the wind farm for […]
In QuotedData’s morning briefing 23 November 2020: US Solar Fund says that all 41 projects in its portfolio, totaling 443MWDC, are now fully operating and generating revenue. The final project, the 128MWDC Milford plant in Utah, reached the commercial operations date under its power purchase agreement (PPA) on 19 November, on-time and under-budget – saving $4m […]
Commercial property valuation has been a bone of contention for years. It is generally accepted that valuers are slow to react to changes in the sector. Just look at the recent history of retail valuations. Despite clear evidence that rents were falling due to the impact on retailer demand for space caused by a boom […]
QuotedData’s weekly news show 20 November 2020 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: BlackRock Throgmorton’s fundraise Montanaro European’s excellent results UK Mortgage’s plan for the future Watch it again here We’ll be […]
Over the next few weeks, QuotedData is hosting a series of webinars focused on ESG – environmental, social and governance – aspects of investing that are increasingly important to investors. The first of these, on 24 November, will look at the ‘E’ in ESG. The main thrust of the debate around tackling the environmental issues […]
Urban&Civic has announced its annual results for the year ended 30 September 2020, which includes commentary on the previously announced recommended offer from Wellcome Trust that the board describes as a persuasive outcome for all stakeholders. It says that the all cash offer of 345p per share is above up to date EPRA NAV and […]
Unite Group has announced that it has acquired an 800-bed development site in Paddington, central London on a subject to planning basis. It has also provided an update on check-in performance for the 2020/21 academic year. Paddington development site acquired from Travis Perkins Unite has exchanged contracts to acquire a new 800-bed development site in […]
JPMorgan Elect (JPE) has released its annual results for the year ended 31 August 2020. The trust manages a number of different pools and shareholders have the option to switch between these periodically. Key highlights from the report are provided below, as well as the investment manager’s reports for all of the individual share classes. […]
Montanaro European Smaller Companies Trust (MTE) has announced its interim results for the six months ended 30 September 2020, during which it has posted a stellar recovery post the COVID-19 market rout. During the period, MTE’s NAV per share rose by 49.9% to 1,434.6p per share, thus outperforming its benchmark, the MSCI Europe SmallCap (ex […]
Schroder Income Growth (SCF) has announced its annual results for the year ended 31 August 2020, during which it provided modest NAV underperformance of its All-Share benchmark. Over the twelve months, SCF provided an NAV total return of -13.2% and a share price total return of -7.0% (during the year, the share price’s discount to […]
In QuotedData’s morning briefing 20 November 2020: Edinburgh Investment Trust (now managed by Majedie Asset Management) published its interim results for the six months ended 30 September 2020. During the period the trust has provided an NAV total return of 7.8% and a share price total return of 5.7%. In comparison, it says that the All-Share […]
LondonMetric Property has delivered strong half-year results in which net tangible assets (NTA) jumped 3%. The company saw the value of its portfolio, which comprises industrial and logistics and long-income assets, increased by 2.3% to £2.4bn. As a result, EPRA NTA for 30 September 2020 was 175.5p, compared to 170.3p in March 2020. Net rental income […]
Syncona founds Purespring Therapeutics with a £45.0 million Series A financing commitment. Syncona will have an 84% stake in the business. Purespring Therapeutics is one of the first AAV gene therapy companies focused on the kidney. It has been founded around the work of Professor Moin Saleem, Professor of Paediatric Renal Medicine at the University of Bristol, […]
Hg invests in Septeo – Hg has announced an investment in The Septeo Group, a European leader in LegalTech. Hg will invest alongside founders Philippe Rivière, Jean-Luc Boixel, Hugues Galambrun and the management team, which will continue to be led by Hugues Galambrun. The terms of the transaction were not disclosed and closing of the transaction […]
In QuotedData’s morning briefing 19 November 2020: International Biotechnology reports that an uplift in the value of its stake in SV Fund VI has added $4.8m (£4.0m) or 9.1p per share to its NAV. Octopus Renewables Infrastructure Trust has secured a committed £150m revolving credit facility (RCF) from a group of five lenders. The RCF, provided […]
AEW UK REIT reported share price total return for the six months to the end of September of 16.1%. The group, which owns a diverse property portfolio, posted a net asset value of 92.73p per share (down slightly from 93.13p on March 2020). It paid dividends during the period of 4p per share, meaning its […]
