This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 12 May 2021 – Schroder Income Growth’s (SCF’s) reported interim results to 28 February 2021, with the NAV returning 16.1% (compared to 12.0% delivered by the FTSE all-share index.). SCF’s share price outperformed the NAV, with a total return of 19.6%. Law Debenture (LWDB) announced yesterday evening that further to the recent announcement regarding the issuance […]
Civitas Social Housing has increased its dividend target for full year 2022 by 2.8% after posting another increase in net asset value (NAV). The group said in a trading update that it is targeting a dividend of 5.55 pence per share for the financial year ending 31 March 202, which represents an increase of 2.8% to the 2021 […]
In QuotedData’s morning briefing 11 May 2021: CVC Credit Partners European Opportunities has announced the results of its latest tender offer – 5,926,910 Euro shares and 8,710,330 Sterling shares were tendered – the tender prices are €0.9932 and £1.0521. These should be settled in full. Riverstone Energy successfully completed its last buy back programme – repurchasing […]
In QuotedData’s morning briefing 10 May 2021 – From last Friday: we had interim results from Finsbury Growth & Income (FGT) to 31 March 2021, including a 2.2% total NAV return and a 3.7% return to shareholders. Performance was below the benchmark FTSE all-share index return of 18.5%. However, manager, Nick Train noted that “when you look […]
QuotedData’s weekly news show 7 May 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Biotech & Biden Sherbone Investors selling its’ stake in Barclays John Laing in talks with KKR about a […]
As predicted, merger and acquisition (M&A) activity has taken off in the listed property sector in 2021. Friday’s announcement that St Modwen Properties (SMP) had received an unsolicited approach from US private equity giant Blackstone regarding a possible cash offer of £1.2bn for the company feels a bit different to recent M&A news. This week […]
St Modwen Properties has received a proposal from US private equity giant Blackstone regarding a £1.2bn offer for the company. The board of St Modwen said it was minded to unanimously recommend the offer, which is at a huge premium to its share price and net asset value. The possible cash offer of 542 pence is a […]
Standard Life Investment Property Income Trust (SLI) reported a 4.0% increased in net asset value (NAV) in the first quarter of 2021. The group, which owns a diverse portfolio of property assets heavily weighted to the industrial and logistics sector, said NAV at 31 March 2021 was 85.3p (Dec 2020: 82.0p) resulting in a NAV […]
In QuotedData’s morning briefing 6 May 2021: Schroder UK Public Private says that Oxford Nanopore Technologies has raised £195m in new capital including £125m from some new investors – Temasek, Wellington Management, M&G Investments and Nikon. In addition, existing shareholders invested £70m. The valuation in the NAV as at 31 December 2020 was based on the […]
UK Commercial Property REIT has increased its dividend by 40% due to the improved economic outlook for the UK. The group, which reported a 1.5% jump in its net asset value in the first quarter of 2021, said it will increase the quarterly dividend payable to 0.644p per share. This is still 30% down on the […]
Alternative Income REIT has upped its dividend following continued strong rent collection. The group, which owns a diverse property portfolio worth £108.7m, has increased its quarterly dividend to 1.25p per share, from 1.00p in the quarter ending December 2020. This increase followed rent collection since the start of the pandemic of 97.2%, with deferrals agreed […]
In QuotedData’s morning briefing 5 May 2021 – JLEN Environmental Assets (JLEN) announced a proposed placing for up to approximately 54.7m new ordinary shares. The shares are not being offered at a fixed price, but at a placing price per share, which will be determined by the bookbuild. The placing price will be agreed between […]
Custodian REIT has said it will increase its target dividend after reporting rent collection rates of 89% for the year to 31 March 2021. The group paid a dividend of 4.5p in the year, which was down on the 6.65p it paid for the year to March 2020 reflecting the decreases in rent collection rate and […]
LXi REIT has acquired an Aldi foodstore and a Dobbies garden centre for a total of £24m, as it continues to build its long-income portfolio. The acquisitions, which were acquired off-market, have an average net initial yield of 5.45%, a long average unexpired lease term to first break of 29 years and 100% of the income […]
In QuotedData’s morning briefing 4 May 2021: Syncona (SYNC) has provided an update on investee company Gyroscope Therapeutics’ proposed IPO in the US. SYNC says that Gyroscope has filed an amended registration statement on Form F-1 with the US SEC, which relates to a proposed IPO in the US of its American Depositary Shares (ADS), with […]
QuotedData’s weekly news show 30 April 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, Shonil Chande covered the week’s top stories: Taylor Maritime – targeting a 250m IPO raise AVI plans to remove Symphony International’s board Dunedin Income Growth […]
After last week’s news that several property landlords, including AEW UK REIT, had successfully sued some of its tenants for rent arrears that had amassed during the COVID pandemic, two of property’s big boys – Land Securities and British Land – have set up plans for a more amicable solution to the rent conundrum. The […]
Standard Life Investments Property Income Trust (SLI) has posted full year results for 2020. The highlights are: Net asset value (NAV) per share 82.0p (Dec 19: 89.9p), down 8.8% as valuations came under pressure, particularly in the first half of the year, due to COVID-19. NAV total return of -4.6% EPRA earnings per share 4.1p Dividends […]
Stenprop, the UK multi-let industrial (MLI) property company, recorded a record quarter for leasing in the first quarter of 2021. The group completed 50 new lettings in the period (39 previous quarter) and 33 renewals (18 previously) worth £1.54m of annual rent. New lettings were at a 24% average uplift on the previous passing rent, while […]
Aberdeen European Logistics Income (ASLI) has reported stellar results for 2020 in which it posted a 13.6% net asset value (NAV) total return. The group, which owns a portfolio of 15 logistics assets in continental Europe, said NAV increased 8.1% to €1.20 (31 Dec 19: €1.11). This was primarily driven by yield compression as investor […]
In QuotedData’s morning briefing 29 April 2021: Globalworth’s board said holders of 39.8% of its shares – Growthpoint Properties Limited, The European Bank for Reconstruction and Development and Oak Hill Advisors – have all now rejected the offer as being too low. These holders represent 82.0% of the Globalworth shareholders to whom the offer would be made. [We’ll […]
In QuotedData’s morning briefing 28 April 2021 – Vietnam Enterprise (VEIL) delivered a 22.8% total NAV return over its financial year to 31 December 2020. This represented a 5.4% outperformance of its benchmark. Performance was led by its exposure to the banking sector, notably Asia Commericial Bank. Vietnam Prosperity Bank and Techcombank also notably contributed […]
Target Healthcare REIT has posted a 2.5% net asset value (NAV) total return for the first quarter of 2021. The care home investor said EPRA NAV per share was up 0.8% to 109.1 pence in the quarter to 31 March 2021. Including payment of a dividend of 1.68 pence during the period, the NAV total […]
BMO Real Estate Investments has reported a rent collection rate for the year to 31 March 2021 of 94.7%, while its net asset value (NAV) notched up 1% in the first quarter of 2021. The group, which owns a diverse portfolio heavily weighted to the industrial sector, said collection for the current quarter (to the […]
In QuotedData’s morning briefing 27 April 2021: Civitas (CSH) has completed the purchase of 15 supported care and living facilities in South Wales for £10.9m. The portfolio provides 51 beds and long-term support for individuals with learning disabilities and mental health care needs along with dedicated facilities to develop and enhance independent living skills, such as […]
In QuotedData’s morning briefing 26 April 2021 – International Biotechnology Trust’s (IBT’s) interim results to 28 February 2021 saw the NAV per share return 6.9%. On the management side, Carl Harald Janson decided to step back from his role as lead manager (he will remain involved with IBT as a senior advisor) and Kate Bingham was welcomed back […]
REIT investors will be breathing a huge sigh of relief following a series of High Court judgments on rent arrears that fell in favour of landlords this week. AEW UK REIT (AEWU) was one of three landlords that successfully sued tenants for unpaid rent. In its case two tenants – Sports Direct and Mecca Bingo […]
QuotedData’s weekly news show 23 April 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Acorn Income Fund update Gore Street Energy Storage raise of 135m Schiehallion raise of 700m for C share […]
AEW UK REIT (AEWU) has successfully taken out legal action against two well-funded national tenants – Sports Direct and Mecca Bingo – to recover rent that it had refused to pay during the pandemic. The result of the legal proceedings is a huge moment for the property sector, which has been dogged by unpaid rent. […]
In QuotedData’s morning briefing 22 April 2021: Hammerson (HMSO) has further reduced its debt having exchanged unconditional contracts on the portfolio sale of its seven retail park assets to Brookfield for £330m cash proceeds. This represents an 8% discount to the 31 December 2020 book value of £357m and an 8.6% net initial yield. This transaction […]
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