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, […]
Grit Real Estate Income Group, the pan-African real estate company, has suspended payment of its dividend for four weeks. The company said the interim dividend of US$5.25 cents per share will now be paid on 30 April 2020 and was postponed due to delays with central bank processes and moving cash balances to Mauritius, where it is […]
Primary Health Properties (PHP) has reaffirmed its dividend policy with its business less impacted by covid-19. The company, which owns primary healthcare facilities in the UK and Ireland, said 90% of its contracted rent is either paid directly or indirectly by the UK and Irish governments, with the balance mainly coming from pharmacies attached to its properties. […]
Office developer Helical has placed its dividend distribution under review during the coronavirus pandemic. The group said it collected 84% of the £6.7m total rent due in the first quarter of 2020, with 9% more to be paid in instalments over the next three months. It also collected 90% of its service charge payments in […]
BB Healthcare (BBH) announced the appointment of Bellevue Asset Management (Bellevue UK) as its new manager, in a move that had been put forward in BBH’s IPO prospectus dated 5 November 2016. Bellevue had been hitherto delegated management of the trust by Mirabella Fund Services (Mirabella). it was intended that Bellevue would eventually take over management of BBH’s portfolio, […]
Gore Street Energy Storage (GSF) announced 1.) the completion of construction of one of its many international projects, 2:) what it says has been a limited impact of covid-19 on operations and 3.) confirmation of its commitment to the annual dividend. Further Operational Asset Lower Road, a 10MW capacity front of the meter project in Essex […]
In QuotedData’s morning briefing 1 April 2020 – It has now been confirmed that the UK’s largest banks are suspending dividend payments. Separate statements from Lloyds, RBS, Barclays, HSBC, Santander and Standard Chartered last night noted that they would not proceed with paying out dividends for 2019, nor engage in share buybacks. We published an update […]
Empiric Student Property has suspended payment of its dividend to cover an expected hit on income due to the coronavirus pandemic. The group said in a worst case scenario it could lose up to £21m of revenue this academic year, as it allows students to exit their rental agreements early due to the enforced lockdown. […]
Regional REIT has confirmed that its dividend for Q4 2019 will be paid to shareholders. The group, which owns a portfolio of predominantly office properties in regional locations in the UK, will pay shareholders 2.55 pence per share on the 9 April 2020. In a trading update, the company said it had collected most of […]
Polar Capital Global Financials update “Today the banking sector is significantly better capitalised than it was in the years leading to the global financial crisis and regularly stress tested by its regulators to ensure it can withstand significant shocks. Furthermore, the recent extraordinary steps that central banks and governments worldwide have announced will significantly dampen […]
In QuotedData’s morning briefing for 31 March 2020: Banks turn off dividend tap? – The Financial Times has a story that the Prudential Regulation Authority will soon force UK banks to suspend their dividend payments. This would knock a big hole in the income of some UK equity income funds. This follows a similar move […]
Retail landlord Hammerson collected just 37% of its rent in the latest quarter but has vowed to help retailers through the covid-19 pandemic. The group, which owns shopping centres in the UK and France as well as outlet centres across Europe, has also suspended its final dividend of 14.8p per share in order to preserve […]
Macau Property Opportunities (MPO) released the following update on the impact of covid-19: “On 20 February, the Macau government lifted its 15-day suspension of casino operations. Whilst casino activity has resumed, tight immigration restrictions remain in force, which continue to impact the market. Visitor arrivals to Macau have declined by 57% year on year (YoY) […]
Fair Oaks Income (FAIR) announced that in light of the ongoing uncertainty in economies and markets caused by covid-19, the board has resolved to suspend the declaration of dividend payments: “The board and the manager recognise the importance of dividends for shareholders but believe that suspension is the appropriate reaction to the unprecedented circumstances. In […]
European Assets (EAT) has announced an amendment to the basis of calculation of its management fee payable to BMO Investment Business Limited (the manager). Previously, the manager received a fee equal to 0.8% per annum of the value of funds under management (calculated as the value of total assets less current liabilities (excluding borrowings) at the […]
Hipgnosis Songs (SONG) has acquired the music catalogue of songwriters hall of fame and rock and roll hall of fame inductee Richie Sambora. SONG describes Richie as a legendary guitarist, singer, songwriter and producer, most notably known as the lead guitarist and co-writer of the American rock band Bon Jovi. Richie Sambora, with Bon Jovi, […]
EasyJet has grounded its entire fleet on a morning that has also seen the price of crude oil fall below $20 (an 18-year low). Jupiter UK Growth (JUKG) reported interim results to 31 December 2019, with the total return NAV increasing by 7.8%. The focus is of course on covid-19. Chairman, Tom Bartlam, said: “In […]
In a surprise move, Strategic Equity Capital (SEC) has sacked its investment manager and shifted its management contract to Gresham House, the fast-growing investment boutique. Gresham House already manages a trust that looks similar to SEC – Gresham House Strategic. Both funds size up potential investments the way a private equity firm would. They try […]
The extent of the disruption caused by the covid-19 pandemic is starting to really bite for property landlords. Unsurprisingly, the retail sector (including leisure and food and beverage) is being hardest hit due to the enforced shutdown of all non-essential shops. A host of big named retailers, such as Primark and Burger King, have said […]
U and I Group, the specialist regeneration developer and investor, has sold three retail assets for a combined £22.4m. It has sold Crown Glass Shopping Centre in Nailsea for £11.15m; two units at The Killingworth Centre in Newcastle for £7.5m; and 89-107 Queen Street in Cardiff for £3.75m. The combined assets were sold marginally below their […]
GCP Student Living has said it intends to pay its third interim dividend but expects “materially reduced revenues” for the final term of the current academic year. The UK REIT said it has received around 74% of all budgeted revenues due to it this academic year but added that the closure of universities due to […]
Chenavari Investment Managers, the manager of Chenavari Toro (Toro) has provided an update, on its website, on its response to the outbreak of covid-19. A link to the full article is provided below. However, we are providing some key takeaways here: Volatility and dispersion are expected to continue for some time. The manager’s “fundamental long/short […]
Foresight Solar (FSFL) has provided an update to investors on its response to the covid-19 outbreak. The takeaweays are: in FY20 there has been no operational disruption linked to covid-19; The Company has conducted a full review of all key service providers. It has confidence in the resilience of their business continuity plans. Foresight has […]
Supermarket Income REIT (SUPR) has provided an update to the market in which it: reaffirms its commitment to pay its third quarterly dividend; confirms it received 100% of the expected rent for the quarter ended March 2020; announces positive results from two rent reviews; and provides a general update in regards to the impact of […]
