Real Estate Investors, the REIT focused on the Midlands, saw revenues increase 6.4% in 2019. The company reported revenue of £16.6m in full year results, up from £15.6m in 2018. Underlying profit before tax was also up, by 11.1%, to £8.0m. The group’s portfolio, which is valued at £228.9m, produces an annualised rental income of […]

Company update from Amedeo Air Four Plus (AA4): “Further to the announcement on 12 March 2020, the board notes the news that almost all airlines globally have been severely impacted by the reduction in passenger traffic as a result of covid-19 and understands that many Governments, banks and lessors have received approaches from these airlines […]

US Solar (USF) has released maiden annual results. The company launched last April with a $200m raise, primarily from UK institutional investors. Highlights to 31 December •   Strong progress since IPO with three US solar project or portfolio acquisitions announced; •   Acquisition one: 128 MWDC in-construction solar project in Milford, Utah, with a 25 year power […]

Tritax Big Box REIT reported a 7.7% increase in operating profit in 2019. The group, which owns a portfolio of ‘big box’ logistics warehouses in the UK, said profit for the year ended 31 December 2019 was £122.5m compared to £113.7m in 2018. It also said its contracted annual rent roll was up 3.4% to […]

Infrastructure India (IIP) has released the following update with respect to its largest holding, Distribution Logistics Infrastructure Limited (DLI), and covid-19. “During the first quarter of the calendar year, DLI performed well, with increased revenue and lower quarter on quarter costs and timely project completion. Construction at Nagpur, including a private freight terminal and additional warehousing, […]

Globalworth Real Estate Investments (GWI), a leading office investor in Central and Eastern Europe, announced changes to the company’s board and an update regarding the COVID-19 outbreak.  Board changes Ioannis Papalekas, the founder, is stepping down from the board with immediate effect but will remain as CEO of the company. Dimitris Raptis, the current chief investment […]

Estate agency group LSL Property Services has pulled out of negotiations to buy fellow estate agent Countrywide. It was announced last month that the two companies were in discussions about an all-share merger, but LSL today said talks were off. The £500m tie-up would have brought together two of Britain’s biggest listed estate agents. LSL […]

Global sector company, F&C (FRCL), has reported its annual results to 31 December 2019. The company’s growth and income mandate is carried out through investments in public market, unquoted investments and private equity. With a market cap above £3bn, it is among the largest closed-end investment companies and was the first investment trust to launch, […]

JZ Capital Partners (JZCP) has said that in light of the covid-19 outbreak, the previously announced US secondary sale has been delayed. Whilst the duration and impact of COVID-19 is uncertain at this time, the company remains committed to its strategy of realising value from its investment portfolio including via the secondary sale, and to […]

CVC Credit Partners European Opportunities (CCPE/CCPG) has released this update: “Following our 2nd March note addressing the initial impact of the Coronavirus outbreak, global credit markets have continued to experience significant volatility in the past weeks, driven by (i) the continued expansion of the coronavirus epidemic on a global scale, and (ii) the break-up of […]

In light of cov-19, it has been announced this afternoon that Master Investor, the UKs largest private investor show, has been moved to Saturday 5 December 2020. The event was originally scheduled for Saturday  28 March 2020. Click on the following link for more information: https://quoteddata.com/events/master-investor-uks-largest-private-investor-show/  

From time-to-time, QuotedData’s analysts meet a wide range of companies that aren’t clients of our sponsored research service. We figure it makes sense to share some of our thoughts on these companies with you. Here are some observations from a recent capital markets day hosted by Augmentum Fintech (AUGM), at Plaisterers’ Hall, One London Wall. AUGM […]

US Solar (USF) announced it has closed the acquisition of 100% of the cash equity interests in a portfolio of twenty-two operating utility-scale solar power projects totalling approximately 177MWDC in North Carolina, Oregon, and California. USF announced signing of the binding transaction on 29 January 2020 with closing subject to customary conditions and consents which have now […]

Part of the European smaller companies sector, European Assets (EAT) has released its annual results to end-December 2019. In sterling terms, the share price and NAV total returns came in at 25.7% and 19.8%, with stock selection driving performance (sector allocation detracted slightly). The best performance came from ASM International, the Dutch listed semiconductor equipment supplier, […]

Aberdeen Smaller Companies (ASCI), which invests in UK smaller companies, has reported annual results to 31 December 2019. The company’s performance in NAV and share price terms, as well as that of its benchmark, is shown below: NAV total return FTSE Small Cap ex Inv Trust Index total return Share price total return 2019: +34.4% […]

JPEL Private Equity (JPEL) announced a partial sale in JPEL’s 2nd largest portfolio company, a tax advisory services company. At 31 December 2019, the company represented 18.7% of JPEL’s private equity portfolio value. The partial realisation results in an investment return of approximately 4.39x and an IRR of approximately 33% for JPEL.  As part of the transaction, JPEL […]

Secure Income REIT reported a 7.6% increase in net asset value (NAV) in 2019. The group, which owns a £2.1bn portfolio of long-let property, said NAV per share grew to 431.1p in 2019 as the like-for-like value of the company’s portfolio rose by 4%. The growth helped Secure Income REIT deliver a total shareholder return […]

Intu Properties has warned it could go under after reporting a £2bn loss in 2019. The shopping centre owner said the spate of retailer failings had resulted in the value of its properties falling almost £2bn (or 22.3%) to £6.6bn. Intu’s debt totals £4.5bn, giving it an unhealthily high loan-to-value ratio of 67.8%. Chief executive […]

Alcentra European Floating to wind up – The board of Alcentra European Floating Rate Income Fund says that, following  its March 2020 tender offer, it has conducted a comprehensive review of the outlook for the company. This review, conducted in consultation with the investment manager and broker, has been undertaken in tandem with extensive shareholder […]

2019 was a fantastic year for Oakley shareholders – a 25% return on NAV translated into a 56% return to shareholders as the discount narrowed significantly. The underlying portfolio companies generated EBITDA growth of 30% and the earnings growth helped push valuations higher. Two exits were made – WebPros was the major driver – we […]

Primary Health funding new doctor’s surgery in Epsom – Primary Health Properties has contracted with a developer to fund the fitting out of a doctors’ surgery within a modern residential development in the centre of Epsom, Surrey. The company will acquire the long leasehold interest of the property on completion of the work for a total […]

Good year for Witan – Global investment trust, Witan reported a return of 21.3% on its NAV for 2019, 1% ahead of its benchmark. Shareholders did slightly better than that, with returns of 22.1% as the discount narrowed from 1.3% to 0.7%. The dividend was upped by 13.8% to 5.35p (doubling in a decade). Returns […]

Symphony still in tune – Symphony International delivered a 5.8% return on its NAV over 2019 (in US dollar terms). It paid a dividend of 3.5 cents. $90.7m was deployed in new investments. Symphony’s new investments include interests in two established businesses; Indo Trans Logistics, the largest independent integrated logistics company in Vietnam and ASG Hospital, […]

Countrywide, the estate agency group, has announced that the proposed sale of its commercial property arm, Lambert Smith Hampton (LSH), has fallen out of bed. The company had agreed a deal with John Bengt Moeller to sell the business for £38m in November last year but said Moeller “failed to complete the transaction in accordance with […]

EP Global Opportunities runs for the exit. Responding to the covid-19 outbreak, the manager of EP Global Opportunities had raised its cash level to 18% of the trust at the end of February (up from 8% at the end of January). The managers had this to say “we are finding it very difficult to identify […]