London office developer Derwent London has confirmed its final dividend. The group will make a final dividend payment of 51.45p on 5 June 2020. Derwent said it had so far received 73% of rents due on the quarter day, with another 6% now being received on a monthly basis in May and June. Therefore, at […]
Tritax Big Box REIT has withdrawn its dividend target for 2020 in light of the covid-19 pandemic. The company has collected the majority of its advanced quarterly rent that was due on 1 April 2020 (86%, with a further 10% expected to be paid by the end of May 2020). Around 50% of Tritax Big […]
Fidelity Japan (FJV) has released annual results to 31 December 2019. The company delivered an NAV total return of +36.6%, more than double its reference Index which returned +14.6%%, and the share price total return was +39.4%. Review from chairman David Robins “Holdings in mid to large cap growth stocks were the primary source of […]
NextEnergy Solar (NESF) has released an operational update with respect to its performance over the financial year-end period to 31 March 2020. For the current financial year ending 31 March 2021, NESF says that around 61% of revenues in the UK will be derived from regulated revenues (renewable obligation certificates and others), and approximately 39% […]
Marble Point Loan Financing (MPLF) invests in US loans directly and indirectly through investments in collateralised loan obligation (CLO) equity and debt securities issued by Marble Point CLOs and Marble Point loan acquisition facilities. The company released the following update this morning: “As detailed in the company’s previous monthly reports, the quarterly cash distributions from its portfolio […]
Shareholders have voted to extend Polar Capital Global Financials’s (PCFT’s) life indefinitely. following a general meeting held yesterday (7 April 2020). Results of the general meeting and tender offer “Subsequent to the company’s shareholder circular of 12 March 2020, in which proposals were put forward for the provision of a tender offer to shareholders together […]
Greencoat UK Wind (UKW) said that to-date, there has been no material impact on the company’s day-to-day operations or performance. Aberdeen Standard Asia Focus (AAS) released interim results to 31 January 2020 ( Total return performance in NAV and share price terms was (8.3%) and (6.2%), compared to the MSCI Asia (ex-Japan) smaller companies index […]
Workspace Group, one of London’s leading providers of flexible office space, collected around 50% of rents for the quarter. The group said it expects a significantly lower level of cash rental income in the short term, as its 3,000 business tenants battle against the impact of the coronavirus pandemic. Workspace said it had received a “large […]
In QuotedData’s morning briefing 7 April 2020 At 16:42 yesterday, Assura announced plans to issue up to 240,207,920 shares to fund the purchase of additional medical centres. £2.5m would be donated to the Assura Community Fund, to support local communities in areas where it has assets, most would go to finance investments – it had a […]
Schroder Real Estate Investment Trust has postponed payment of its dividend due to the impact of covid-19. The group said it intends to pay the postponed dividend, which was due to be paid in June 2020, in part or whole at a later stage. As at 3 April 2020, the company had received payments reflecting 63% […]
LXI REIT has confirmed payment of its final dividend despite taking a hit on income due to the covid-19 pandemic. The company, which owns a portfolio of inflation-protected long-let property, said it expects to approve the payment of the company’s final quarterly dividend for the year ended 31 March 2020, at the rate of 1.4375 pence […]
Impact Healthcare REIT (IHR) has provided a trading update in light of covid-19. The company has also signed a new revolving credit facility worth £50m with HSBC IHR said that as at 3 April 2020, it had received 100% of the rent due in respect of the forthcoming period from its tenants who operate care […]
Secure Income REIT (SIR) provided the following update: “The evolving impact of covid-19 and the responses to it, including the UK wide ‘lockdown’, undoubtedly present challenges to a great many businesses across the globe. At this time of uncertainty, our priorities are to keep our team safe, maintain close relationships with our tenants and to […]
The UK smaller companies-focused, private equity style fund, Gresham House Strategic (GHS) has provided an update on its financial performance over its year-ending period to 31 March 2020. GHS’s board and manager believes portfolio is well positioned in the present difficult environment. They say this reflected in their decision to retain their commitment to raise […]
Amedeo Air Four Plus (AA4) noted that further to its announcement of 17 March 2020 (we covered this here), its board confirms that discussions are continuing between the company’s manager and Thai Airways (Thai), in respect of its ongoing lease obligations to the company, and with the lending banks providing debt financing in respect of the four […]
The board of Perpetual Income and Growth (PLI) has announced that it has served Invesco Fund Managers (Invesco) with protective notice of termination, following an extended period of underperformance of the company’s benchmark.The decision will bring to an end Invesco and Mark Barnett’s 20-year tenure managing PLI and represents the loss of Markt’s last remaining investment […]
Financial markets have begun the week on the front foot with equities rallying on signs that the the daily mortality rates in Italy, Spain and France might be peaking. Some governments are believed to be countenancing measures to ease lockdowns as well. Elsewhere, UK Prime Minister, Boris Johnson, was admitted to hospital as a precautionary […]
Oil companies, airlines, travel companies, retailers – I am sure we can all think of examples of businesses that have been hit hard by COVID-19. Many of these businesses weren’t doing particularly well even before the lockdowns began. Default rates on loans to these sectors are set to rocket. Already, a large US shale oil […]
The effect of the covid-19 enforced lockdown has brought into sharp focus the importance of discretionary and non-discretionary spend in the retail sector. All four specialists retail REITs have now revealed how much rent they collected on rent quarter day and it doesn’t make for good reading. Intu received just 29%, Hammerson 37%, Capital & […]
SME Credit Realisation (SCRF) has provided the market with an update of its preliminary assessment of the potential implications of the COVID-19 pandemic. It says that, while it future performance may be adversely affected by COVID-19, it is able to report positive progress in the Company’s winding-down with returns of cash to shareholders of around […]
Great Portland Estates (GPOR) has published a trading update and summary on the impact of COVID-19 on the business to date. Summaries of the key takeaways are provided below. COVID-19 update GPOR is supporting our occupiers, particularly in the retail, hospitality and leisure sectors, through agreeing on a case by case basis the payment of […]
Ceiba Investments (CBA) has provided an update to the market in light of the COVID-19 pandemic. It says that, in the first two months of the current financial year, there was no material COVID-19 impact on its operations, trading and investments. However, as of March 2020 hotel reservations for the year started to be affected by […]
On 23 March 2020, DP Aircraft I (DPA) announced that lease payments due on the 13th of March 2020, from Torskefjorden Leasing Limited (part of the Norwegian group and guaranteed by Norwegian) had not yet been made in respect of either of the two aircraft (LN-LNA and LN-LNB) DPA leases to Norwegian. Further to this […]
In QuotedData’s morning briefing 3 April 2020 Trump tried to talk up the oil price with news of a Saudi/Russia meeting. It seemed to work but Russia denied all knowledge. In light of the COVID-19 restrictions, Hammerson shareholders will no longer be able to attend its AGM on 28 April 2020 and are instead encouraged to […]
U and I Group, the specialist regeneration developer and investor, has exchanged contracts to sell its stake in Harwell Campus for £41.74m. It has sold the science and technology campus in Oxfordshire to Brookfield Capital Partners for an initial cash payment of £28m, plus deferred payments of £13.74m. The deal delivers development and trading gains to U […]
LondonMetric Property has provided a covid-19 update in which it has confirmed it will pay its third quarter dividend. The group, which owns a portfolio of mainly logistics assets, said it had collected 85% of its rent for the quarter as at 1 April 2020. It added that 7% is expected to be received shortly and […]
Self-storage owner Safestore has said it will pay its final dividend, with its stores fully operational. The company’s self-storage units are exempt from shutdown as they provide support to small business customers and companies engaged in key supply chains including healthcare, food industry suppliers and infrastructure support. Key trading performance indicators have seen relatively limited impact, the […]
Industrial and logistics giant SEGRO will pay its final dividend, the company confirmed today. The group said it was in a strong position financially and has collected 71% of the rent due for the first quarter of the year. It is in discussion with tenants representing 25% of total headline rent regarding appropriate relief, primarily through […]
In QuotedData’s morning briefing 2 April 2020 JZ Capital makes probably the least useful announcement we have seen to date on COVID-19 – highlights include “At this time, given the general levels of uncertainty, it is difficult to accurately gauge the potential impact of the COVID-19 outbreak on the company. However, the outbreak is currently having […]
JLEN buys Peacehill anaerobic digestion plant – JLEN has announced an investment in the Peacehill Farm anaerobic digestion (AD) plant for an aggregate amount of £11m. Unusually, the investment takes the form of the provision of a debt facility and an investment to gain a minority equity stake in JLEAG AD Limited, the company which holds, […]
