This sector includes mortgage companies, property management companies and REITs
It was refreshing to see news this week of the intention to float of a new real estate investment trust (REIT). Listing a new REIT during the pandemic may have seen a few eyebrows raised among investors, but this one appears to offer investors something different and has strong growth prospects. UK Residential REIT (URES) […]
In QuotedData’s morning briefing 3 June 2021: Round Hill Music Royalty Fund says that Josh Gruss, CEO and chairman of its manager, has opted to receive 2m shares in Round Hill Music Royalty Fund in exchange for his interest in the catalogues that the fund acquired recently. Josh is handing over 950,000 of these to establish […]
QuotedData’s morning briefing 2 June 2021 – The Scottish Investment Trust’s (SCIN’s) board is to undertake a review of the future investment management arrangements of the company. In 2015 SCIN adopted a high conviction, global contrarian investment approach. The board’s view at the time was that a period of at least 5 years would be required to evaluate […]
Sharp falls in retail property hit British Land – Over the year ended 31 March 2021, British Land’s NAV fell by 16.3% to 648p. The full year dividend totalled 15.04p, based on 80% of its earnings per share, pre-COVID the dividend for the year ended 31 March 2019 was 31.0p. Headlines are: Financial performance reflects the […]
In QuotedData’s morning briefing 26 May 2021: AVI Global produced an NAV return of 26.8% and a share price return of 29.1% over the six months ended 31 March 2021. These numbers compare well to the 13.5% return on the trust’s benchmark and help make it one of the best performing funds in its sector over […]
In QuotedData’s morning briefing 25 May 2021 – Lowland (LWI), the UK equity income fund, reported its interim results to 31 March 2021, with a total NAV return of 33.0% coming in well ahead of its benchmark (the FTSE all-share index). LWI’s focus on the industrial and financial sectors, as well as its value bias, drove performance. […]
In what could be the first domino to fall, Aviva decided to wind up its open-ended property fund, more than a year after it suspended dealing in the fund. What does this mean for the future of open-ended property funds? One option that doesn’t end in the liquidation of the fund but still gives investors the chance to exit, is to […]
LondonMetric Property has acquired an urban logistics warehouse in London for £43.8m in a sale-and-leaseback deal. The 115,000 sq ft warehouse in Waltham Cross is let to Reynolds, a national foodservice business, on a new 23-year lease with the benefit of CPI+1 linked rent reviews of between 2% and 4%. The property generates a […]
In QuotedData’s morning briefing 19 May 2021 – Barings Emerging EMEA Opportunities (BEMO) first-half results period to 31 March 2021 saw it complete its transition from a Russia and hydrocarbon-focused Central and Eastern Europe fund to one including the Middle East and North Africa (MENA), and Sub-Saharan Africa regions. Russia is now BEMO’s number two […]
Tritax EuroBox’s dividend has been hiked 13.6%, as it continues to grow its portfolio of logistics assets in continental Europe. The group reported strong half-year results to 31 March 2021 in which dividends declared in the period rose to 2.50 euro cents from 2.20 cents. This was off the back of a jump in earnings – […]
Warehouse REIT has completed the acquisition of Cambridge South Industrial Estate for £20.15m, reflecting a net initial yield of 4.15%. The scheme, which comprises 68,000 sq ft across 13 newly built multi-let industrial units and an adjacent development site, is located on the wider Dales Manor Business Park, just seven miles south of Cambridge city centre, six […]
In QuotedData’s morning briefing 18 May 2021: Syncona highlights results from one of its holdings – Freeline. Its chief executive says they are encouraged by the progress seen in patient identification and screening in its FLT190 Phase 1/2 dose-finding trial for the treatment of Fabry disease; they are advancing their FLT201 programme for the treatment of Gaucher […]
In QuotedData’s morning briefing 17 May 2021 – Baillie Gifford European Growth’s (BGEU’s) interim results to 31 March 2021 brought a total NAV return of 8.7%, which it says compared with a total return of 12.2% for the FTSE Europe ex UK index, in sterling terms. BGEU#s shareholder return over the same period was 11.7%. […]
After months of delays, the debut listing on the world’s first real estate stock exchange took place on Friday (May 14) – but probably not to the fanfare it was hoping for. Mailbox REIT, owner of the Mailbox office complex in Birmingham, was floated on the International Property Securities Exchange (IPSX) after raising £25.85m – […]
The debut listing on the world’s first real estate stock exchange has taken place today. Mailbox REIT, which owns the Mailbox office block in Birmingham, began trading on the International Property Securities Exchange (IPSX) this morning. The company, set up by M7 Real Estate, issued 84,850,000 shares, which have been admitted to trading on the […]
Private rented sector specialist Grainger has reported strong half-year results in which earnings grew 11%. The group, which has a portfolio of 9,109 rental homes in the UK, said rents were up 1.7% in the six months to March 2021, while enquiry levels were up 86% since January. Net rental income was £34.7m, down on the […]
GCP Student Living has posted a 4.5% increase in EPRA net tangible assets (NTA) for the first quarter of 2021. The increase, to 179.07p per share, was mainly down to a 3.5% uplift in the value of its portfolio (mainly focused on London) to £1.06bn. This was due to an uptick in activity in the investment […]
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 […]
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