Urban & Civic saw its EPRA net asset value (NAV) jump 9.6% in full year results after successfully progressing residential sites through the planning system. EPRA NAV rose from £481.2m a year ago to £527.5m with the revaluation of its Waterbeach site, where the company gained outline consent for 6,500 homes earlier this year, contributing £24.6m […]
St Modwen has sold a chunk of its non-core retail portfolio for a total of £34m, as it continues to shift its focus to the industrial sector. The sales, in Doncaster, Crosby and Kirkby, were sold at a discount of 9% compared to the May 2019 book value of the three assets. The disposals follow […]
In QuotedData’s other news 28 November 2019 Tritax EuroBox is to spend €30m extending its Barcelona warehouse by 88,000 sqm. Building starts in 2021 for completion in 2023. The warehouse is let entirely to Mango (the fashion retailer) and was already by far the largest asset in EBOX’s portfolio. This is a big bet on one […]
European Trust results show why it moved manager – European Trust, which recently appointed Baillie Gifford as its manager, has just published results covering the year ended 30 September 2019. They make for grim reading – over the period the trust returned -4.6% in NAV terms and -7.6% in share price terms. This compares to […]
JZ Capital focused on debt reduction – JZ Capital Partners has now published its interim results, covering the six months ended 31 August 2019. The results had been delayed while the board secured a new valuation of its property portfolio. The company warned that it might have to take $50m-$150m off the valuation of its […]
In QuotedData’s other news 27 November 2019 Leaf Clean Energy (LEAF) is to hold an extraordinary general meeting on December 17 2019 as its board has concluded that it is no longer necessary for the shares to be admitted to trading on AIM and is therefore proposing the cancellation. Following the recent return of £21.5m to […]
Highlights from Sequoia Economic Infrastructure’s interim results – Sequoia Economic Infrastructure’s (SEQI) focus is in economic infrastructure, which includes transportation, utility, power, telecommunication, renewable and other related sectors that exhibit infrastructure characteristics and typically have demand exposure. Sequoia believes that lending into these sectors is more attractive than lending into availability-based PFI/PPP projects, which are often hotly […]
LondonMetric has reported a 16.6% uplift in net rental income to £54.9m in half year results following the acquisition of A&J Mucklow in the period. The company, which saw net asset value (NAV) remain flat at 174.9p per share, said the acquisition has significantly increased its portfolio weighting to the urban logistics sub-sector that has […]
Merian Chrysalis nearly 70% invested after follow-on investments – Growth capital company Merian Chrysalis (MERI) has announced a follow-on investment of £12.2m in Embark Group (Embark), to accelerate execution of Embark’s growth plans, including the acquisition of the Zurich platform (Zurich). The transaction includes an £8m equity investment and £4.2m convertible loan note (CLA). MERI says that subject […]
Stock selection drives Aberdeen New India interim period outperformance – Over Aberdeen New India’s (ANII) interim period to 30 September 2019, the company’s NAV rose by 6.1%, ahead of the benchmark MSCI India Index’s return of 0.8%. Performance was driven primarily by stock selection amid persistent financial sector woes. FIscal stimulus improving sentiment ANII noted: […]
Ireland-focused Greencoat Renewables adds 14.0MW wind farm – Greencoat Renewables (GRP), the Irish renewable infrastructure company, has acquired Beam Hill Wind Farm, a 14.0MW wind farm situated in County Donegal for a consideration of €10.5m. This brings Greencoat Renewables’ portfolio of operational wind assets to 461MW. The wind farm consists of 8 Vestas V66 turbines that […]
Commentary from Fidelity China Special Situations interim results – Fidelity China Special Situations (FCSS) has reported half-year results to 30 September 2019, with total return NAV and the share price performance of (5.9%) and (6.0%). What follows are exerts from manager, Dale Nicholls, report to investors. Li Ning shines while Tencent continues to drag on performance […]
In QuotedData’s other news 26 November 2019 – Schroder Real Estate (SREI) reported half-year results to 30 September 2019, with its real estate portfolio posting a total return of +2.5% over the period versus +1.0% by the MSCI/IPD Benchmark Index. There were £45 million of disposals during and post the period end. The company added that […]
Gresham House Strategic’s discount narrows over interim period – The UK smaller companies-focused, private equity style fund, Gresham House Strategic (GHS), published interim results covering the six months to 30 September 2019, this morning. NAV total return of +0.3% vs +0.2% by the FTSE small cap index (total return basis). GHS say the NAV was […]
Polar Capital Global Financials to explore continuing vehicle as fixed-life end date nears – Polar Capital Global Financials (PCFT) announced that in light of the backstop date of 31 May 2020 by which PCFT is due to be placed into liquidation in accordance with its articles of association, the company’s board is in the process of considering […]
Portfolio update from NB Distressed Debt – NB Distressed Debt (NBDD) has provided a portfolio update this morning; the company’s portfolio is invested across distressed, stressed and special situations investments, with a focus on senior debt backed by hard assets.On 13 June 2013, assets attributable to the company’s ordinary shares were placed into a harvest period. Since then, […]
In QuotedData’s other news 25 November 2019 – Templeton Emerging Markets (TEM) reported half-year results to 30 September 2019 with NAV and the shares increasing by +6.3% +4.4% in total return terms, respectively. This compared with +2.2% from the MSCI Emerging Markets Index. Chairman, Paul Manduca, noted: “Given the current political background, equity markets are likely […]
Intu Properties continues disposals programme – Intu Properties (INTU) has sold Sprucefield Retail Park to NewRiver REIT for £40m, in line with its June 2019 valuation. Sprucefield Retail Park is located in Lisburn, Northern Ireland and comprises of 231,000 sq ft of retail space in five units, anchored by Sainsburys and B&Q. Intu has a portfolio of […]
Civitas Social Housing appoints Alison Hadden to its board – The board of Civitas Social Housing (CSH) has announced the appointment of Alison Hadden as an independent non-executive director of the company. CSH note that Alison brings a depth of experience within social housing and local government, having started her career at Dudley Metropolitan Borough […]
In QuotedData’s other news 22 November 2019 – BMO Private Equity (BPET) announced results for the third quarter period to 30 September 2019. The company delivered an NAV total return of 1.7 per cent (share price total return was 3.4%) while outstanding undrawn commitments were £124.1m with around £17.5m of these to funds where the investment […]
HICL Infrastructure targets £100m in new raise – HICL Infrastructure PLC, the parent company of HICL Infrastructure (HICL), has announced a proposal to raise additional equity capital through the issue of new ordinary shares, with a target size of £100m. The net proceeds of the Issue will be applied in addressing the company’s net funding […]
JLEN Environmental scope for further diversification – at 30 September 2019, JLEN Environmental’s NAV stood at 104.7p per share, unchanged from the value at the end of March. Within the portfolio, things seem to be on the right track but positive developments were offset by lower energy price forecasts. The dividend target has been met, […]
Greencoat Renewables targets EUR100m with launch of initial placing – Greencoat Renewables (GRP), the Ireland-focused renewable infrastructure company, is looking to raise approximately EUR100m through an initial placing to provide the company with greater financial capacity to continue to take advantage of an active secondary market for wind assets in Ireland and to pursue identified opportunities […]
In QuotedData’s other news 21 November 2019 – Marble Point Loan Financing (MPLF) closed a credit agreement with City National Bank establishing a revolving credit facility of up to US$12.5m on 20 November 2019. The facility will provide the company with flexible capital for acquiring investments in accordance with its investment objective and strategy and for […]
Montanaro European Smaller Companies delivers strong interim results – Montanaro European Smaller Companies has reported results covering the six months ended 30 September 2019. Over the period, the NAV rose by 8.2% to 1,094.1p per share, outperforming its benchmark MSCI Europe SmallCap ex UK index in the process, which rose by 4.7%. MTE’s discount narrowed from 12% to […]
Residential Secure Income reports annuals, 18% NAV total return since admission – Residential Secure Income (RESI), which invests in affordable shared ownership, retirement and local authority housing, has announced its annual results for the 12 months to 30 September 2019. Financial highlights IFRS NAV total return of 8.0p per share for the period; 3.9%, or £8.7m, uplift […]
Perpetual disappointment calls for new initiatives – The interim statement covering the six months ended 30 September 2019 for Perpetual Income & Growth marks another period of poor performance for the trust. Over the period, it returned -1.2% in NAV terms and -1.0% in share price terms, against +4.6% for the All-Share Index. One bit […]
In QuotedData’s other news 20 November 2019 Hansteen has bought seven multi-let industrial estates on the Newton Aycliffe industrial park in County Durham for £12m. The portfolio comprises 53 units totalling 341,620 sq ft, with individual units ranging in size from 820 sq ft to 32,648 sq ft. The contracted rental income is GBP1,094,000 a year (GBP3.55 […]
Partial collapse at Hadrian’s Wall – on 2 October 2019, Hadrian’s Wall Secured Investments acknowledged that it was experiencing problems with its loans to Biomass Premium Fuels Limited and Biomass Optimum Fuels Limited. Biomass Premium Fuels has been trying to agree a joint venture or partnership with another party. Unfortunately, after exploring a number of […]
Grit Real Estate investing more in Botswana – Grit Real Estate Income is buying an additional 22.75% stake in Botswanan real estate company, Letlole La Rona Limited for US$ 13.8m (to be settled by issuing new ordinary shares in Grit). The vendor is Botswana Development Corporation Limited, a development finance institution founded in 1970, with the […]
