Target buys Nottingham care home – Target Healthcare has completed the acquisition of a property in the city of Nottingham for approximately £7.6 million, including transaction costs, through a sale and leaseback. Constructed in 2013, Acorn House comprises 64 bedrooms, each with full en suite wetroom facilities, over three floors. It is close to the centre […]
Symphony’s MINT sells three hotels – Symphony International Holdings says that Minor International Pcl (“MINT”), Symphony’s largest investment, has entered into agreements to sell and leaseback three hotel properties in Lisbon, Portugal to Invesco Real Estate. The gross selling price for the properties is €313 million. The deal has generated a €62 million gain for MINT. […]
Gabelli Value Plus expecting a return to form for value investing – The US equities focused investor, Gabelli Value Plus (GVP), has reported annual results to 31 March 2019. A total returns summary is shown below: NAV total returns of +6.9% (-6.5% in 2018) Compared to S&P 500 total returns of +18.2% (+2.0% in 2018) […]
Syncona sells Blue Earth Diagnostics to Bracco Imaging – Syncona has reached an agreement to sell Blue Earth Diagnostics to Bracco Imaging, a global leader in diagnostic imaging for $450 million (GBP354.3 million) plus closing adjustment estimated at $25 million (GBP19.7 million). The sale delivers a 10.0x multiple, including prior distributions, on invested capital for Syncona […]
SDCL Energy Efficiency Income reports inaugural results – SDCL Energy Efficiency Income (SEIT) is one of the newer investment trusts having listed in December 2018, raising £100m. It has this morning released its inaugural set of annual results, covering the period to 31 March 2019. The market for energy efficiency is rampant globally, which has […]
Gresham House Strategic continues to see value in UK – The UK smaller companies, focused private equity style, fund, Gresham House Strategic (GHS), published its audited financial results for the year to 31 March 2019, this morning. We covered the leading return figures when the unaudited results were released in April (click here to access) […]
BlackRock Income and Growth reports H1 results with shares up 10.5% – BlackRock Income and Growth (BRIG) reported half-year results covering the period to 30 April 2019 with NAV total returns up 7.3% and the shares up 10.5% over the period. BRIG’s position in John Laing Group, the global infrastructure investor, performed particularly well, re-iterating […]
Miton UK MicroCap (MINI) has an annual redemption facility through which shareholders are entitled to request the redemption of all or part of their holding. The trust announced on 3 June 2019 that it received valid redemption requests for 14,317,907 ordinary shares for the 28 June 2019 redemption point (representing 9.4% of the issued share […]
AbbVie to buy Allergan in a $63bn deal US pharma giant AbbVie is to acquire the US-based, but Irish-domiciled speciality pharma Allergan, in a cash-and-share deal with an equity value of $63bn. he transaction is designed to expand and diversify AbbVie’s revenue base into new therapeutic areas, including what is termed medical aesthetics – Allergan […]
Standard Life Investments Property Income re-lets Bourne House – At Bourne House in Staines (a 26,300sqft office) the company took a surrender of the lease on the whole from the existing tenant, Ricoh, which had indicated it wanted to downsize, and which had a break in 2021. Simultaneously the property has been re-let on a new […]
In QuotedData’s other news – 25 June 2019 Supermarket Income REIT (SUPR) has announce a 12-month extension of the maturity date of its £100 million Revolving Credit Facility with HSBC from 30 August 2020 to 30 August 2021. SUPR says that the original terms of the facility are unchanged, and the facility contains one further […]
Real Estate Credit Investments (RECI) has announced its annual results for the year ended 31 March 2019. The company has reported an increased year end NAV of £1.65 per Share, which it says builds upon the consistency of the previous four years. During the year, RECI provided total dividends of 12.0p per Share and […]
Sequoia Economic Infrastructure Income Fund (SEQI) has announced that, further to its announcement on 3 June 2019 that it was seeking to raise gross proceeds of £216 million by way of an Open Offer, Placing and Offer for Subscription, the Issue has been significantly oversubscribed. SEQI’s board say that investor demand for the Issue has […]
LXi REIT has announced that, following the completion of its £200m equity fundraising that was announced on 13 June, it has completed a number of acquisitions for a combined total investment of approximately £135 million. The company says that this reflects a weighted average net initial acquisition yield of 5.7% (net of acquisition costs). The […]
QuotedData attends Civitas annual results – Civitas Social Housing (CSH) presented its annual results, to 31 March 2019, at an analyst briefing earlier this morning. The company says the portfolio has been independently judged to have produced £114m worth of social value to date, including £59m annual direct savings to the taxpayer. We will discuss […]
BMS’s plan to dispose of Otezla puts focus on putative TYK2i class Bristol-Myers Squibb has announced plans to divest the anti-inlammatory drug Otezla (apremilast) – which it would ostensibly obtain in its pending merger with Celgene – seemingly to allay anti-trust concerns over new oral treatments for psoriasis. The move is likely to be of […]
Securities Trust of Scotland (STS) has announced its annual results for the year ended 31 March 2019, in which it outperformed its peers. During the period, STS provided an NAV total return of 11.4% and a share price total return of 9.6%. The trust says that that these are ahead of the peer group median […]
Hipgnosis Songs Fund (SONG) has announced its maiden final results in which it says it has achieved a 6.1% gross yield. Specifically, the results cover the period from 8 June 2018 (SONG’s date of Incorporation) to 31 March 2019. SONG says that, “recognised net revenues from the Portfolio from incorporation on 8 June 2018 to […]
AEW UK REIT (AEWU) has announced its annual results for the year ended 31 March 2019, during which it achieved its target income returns of 8p per share. Dividends were fully covered by EPRA EPS of 8.07 pps. Mark says that this reflects the high yielding nature of the portfolio. . The chairman, Mark Burton, […]
BMO Private Equity Trust (BPET) has announced that it has entered into a new five-year unsecured credit facility agreement with The Royal Bank of Scotland International Limited. The new facility is comprised of a €25 million term loan and a £75 million multi-currency revolving credit facility. It replaces BPET’s previous arrangements with Royal Bank of […]
Further to Regional REIT’s (RGL’s) announcement on 17 May 2019 that it was considering an equity fundraise “to take advantage of its growing near-term pipeline of opportunities”, the company has announced proposals for a £50m fund raising. The proposed fundraise will comprise a Placing, Open Offer, Offer for Subscription and Intermediaries Offer. In summary, RGL […]
New co-manager at Henderson Far East Income – The board of Henderson Far East Income has announced that Sat Duhra will step up to be the co-fund manager on the trust, alongside Mike Kerley (the longstanding manager of the fund). This is happening with immediate effect. Sat and Mike have worked together for the last eight […]
QuotedData feedback on Harbourvest Private Equity meeting From time-to-time, QuotedData’s analysts meet a wide range of companies that aren’t clients for our sponsored research service. We figured it made sense to share some of our thoughts on these companies with you. So, in the first of a series of ad hoc reports, here are some […]
In QuotedData’s other news 21 June 2019 – Adamas Finance Asia will quote its shares in sterling rather than dollars with effect from 24 June. Its board believe that this will make its shares more accessible for UK investors by eliminating their need to consider the prevailing exchange rate between US Dollars and Pounds Sterling when […]
Marwyn NAV leaps on BCA Marketplace bid – BCA Marketplace announced yesterday that its board was aware of media speculation in relation to the company and confirmed that it was in advanced discussions with TDR Capital LLP regarding a possible all cash offer for the company. The board of BCA had received a proposal from investment funds […]
Adamas completed its transformation in 2018 – Adamas Finance Asia, which adopted a new investment strategy in 2017 of investing in income-generating pan-Asian small and medium-sized enterprises, has published results covering the year ended 31 December 2018. Initial progress on transitioning to the new portfolio was slow as it took time to sell-off legacy investments. Over 2018: […]
In QuotedData’s other news 20 June 2019 Pershing Square has announced a $100m share buy-back programme – up to 6m shares will be repurchased and the transactions are expected to enhance NAV (in other words they’ll buy back the shares at a discount to NAV). The NAV at 18 June was $24.63 and the share price […]
JPMorgan Japan Smaller just fails to match benchmark – JPMorgan Japan Smaller Companies has released results for the year ended 31 March 2019. The total return on net assets was -7.9%, compared with -7.3% returned by the benchmark. The total return to ordinary shareholders was -8.9%, reflecting a slight widening of the share price discount to net […]
Manchester & London manager invests £5.3m – Manchester & London Investment Trust has announced that M&M Investment Company Plc (“MMIC”), a company controlled by Mark Sheppard, the owner of M&L Capital Management Limited, the company’s manager, and a controlling shareholder in the company, has today subscribed for 994,575 new shares at 532.9p the price equal […]
Aseana says manager will step down 30 June – Aseana Properties says that Ireka Development Management Sdn Bhd (“IDM”), the current Development Manager of Aseana, will cease to act as the company’s development manager on 30 June 2019. This represents an extension to IDM’s three months’ notice period and is to ensure a smooth handover following […]
