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Real Estate News

This sector includes mortgage companies, property management companies and REITs

29 Jan 2024
QuotedData's morning briefing

QuotedData’s morning briefing 29 January 2024 – BOOK, GCP, DORE, LMS, BBOX

In QuotedData’s morning briefing 29 January 2024: Literacy Capital (BOOK) has provided a quarterly trading update and NAV announcement for the fourth quarter of 2023. Over the period BOOK saw a NAV uplift of $4.6m, or 7.7p per share, equal to a quarterly return of 1.6%. Its total NAV for the end of 2023 was […]

25 Jan 2024
bundles of newspapers tied up with string

QuotedData’s morning briefing 25 January 2024 – IAT, CORD, GRIT, GABI, AEWU, WKP

In QuotedData’s morning briefing 25 January 2024: Invesco Asia (IAT) says that from 1 May 2024, its two co-portfolio managers will swap roles, with Fiona Yang taking the lead from Ian Hargreaves, but will both continue to work very closely together on the portfolio. The directors say that they have been impressed by Fiona’s contribution […]

24 Jan 2024

QuotedData’s morning briefing 24 January 2024 – HOME

In QuotedData’s morning briefing 24 January 2024: Home REIT (HOME) has sold a further 103 properties at auction for £6.6m as the manager attempts to stabilise the portfolio. The sales price was 8.4% below the August 2023 valuation [there was no mention on the discount to acquisition cost (as has been the case in previous […]

23 Jan 2024

QuotedData’s morning briefing 23 January 2024 – USA, GPE

In QuotedData’s morning briefing 23 January 2024: Baillie Gifford US Growth Trust (USA) announced an update for the six months to November 30, 2023. The company’s share price and NAV  returned 12.3% and 4.1% respectively. This compares with a total return of 7.9% for the benchmark US index. Since launch on 23 March 2018, to […]

22 Jan 2024

QuotedData’s morning briefing 22 January 2024 – HGT, CREI, WHR

In QuotedData’s morning briefing 22 January 2024: HgCapital Trust (HGT) has announced that it has sold its entire stake in Argus Media, a leading independent provider of intelligence to the global energy and commodity markets. HGT will sell its shareholding to Argus’s current CEO Adrian Binks, and General Atlantic, a major minority shareholder. The transaction […]

19 Jan 2024

QuotedData’s weekly news show 19th January 2024

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: • Bankers (0:29) • Hipgnosis Songs (7:08) • API/CREI merger (8:52) This week’s interview was with Purvi Sapre from SDCL Energy Efficiency Income Trust – […]

19 Jan 2024

QD view – the REIT entry point

The start of a new year often brings optimism and that was certainly the case in the real estate sector as inflation around the world continued its downward trajectory, raising the prospect of interest rate cuts this year. That optimism, which had seen share prices among the UK listed property companies jump 15.5% over the […]

19 Jan 2024

Custodian Property Income REIT to merge with abrdn Property Income Trust

The boards of Custodian Property Income REIT (CREI) and abrdn Property Income Trust (API) have agreed to a merger of the two companies.  CREI will acquire the entire issued and to be issued share capital of API, with each API share receiving 0.78 new CREI shares The exchange ratio is based on the unaudited EPRA Net […]

18 Jan 2024

Home REIT replaces chairman

The chairman of scandal-hit Home REIT, Lynne Fennah, has been replaced by Big Yellow Group director Michael O’Donnell. Fennah will remain on the board as a non-executive director for “continuity”. The remaining directors of Home REIT’s board will all step down when the company publishes its financial results (still no date for this). Fennah and […]

18 Jan 2024

QuotedData’s morning briefing 18 January 2024 – ORIT, ARR, NRR

In QuotedData’s morning briefing 18 January 2024: Octopus Renewables Infrastructure Trust (ORIT) is targeting a total dividend of 6.02p for the current calendar year, up 4% from 2023’s 5.79p. The increase matches UK inflation as measured by CPI, making it three years in a row that it has increased dividends by UK inflation [although the […]

17 Jan 2024

QuotedData’s morning briefing 17 January 2024 – RICA, ACRM, APEO, SHED, PRSR

In QuotedData’s morning briefing 17 January 2024: Ruffer Investment Company (RICA) has provided an update for the six months to December 31 2023. The NAV total return was 0.6% and the share price total return was 0.3%. For the calendar year this was -6.2% and the share price total return was -10.6%. The managers note […]

12 Jan 2024

QuotedData’s weekly news update 12th January 2024

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: • Atrato Onsite Energy (0:22) • LXi/LMP merger (9:57) This week’s interview was with Tim Levene from Augmentum – watch it again here.  

12 Jan 2024

Balanced Commercial Property Trust sells trio of offices for £42.8m

Balanced Commercial Property Trust has agreed the sale of three office holdings in a strategic move to reduce its office exposure. The sale comprises two regional out-of-town business park holdings in Edinburgh and Aberdeen and a multi-let asset in London’s West End. The sales have been agreed at an aggregate sale price of £42.8m, representing […]

11 Jan 2024

LXi and LMP agree on merger terms

The boards of LondonMetric and LXi have reached agreement on the terms of a recommended all-share merger. LondonMetric will acquire the entire issued and to be issued ordinary share capital of LXi as the merger is effected by means of a scheme of arrangement under Part 26 of the Companies Act. Each LXi shareholder will […]

11 Jan 2024

QuotedData’s morning briefing 11 January 2024 – SONG, EDIN, BEMO

In QuotedData’s morning briefing 11 January 2024: Hipgnosis (SONG) says that Sylvia Coleman has resigned as independent non-executive director with immediate effect. Robert Naylor (the chairman) thanked her for the help she provided to him and and his fellow new board directors over the last few months, and wished her all the best for success […]

09 Jan 2024

QuotedData’s morning briefing 9 January 2024 – UTG, CREI, HHI, HDIV

In QuotedData’s morning briefing for 9 January 2024: Unite Group (UTG) has released fourth quarter 2023 valuation information on its student accommodation portfolio. The group’s USAF property portfolio (27,922 beds in 71 properties across 19 university towns and cities in the UK) was independently valued at £2,992m at 31 December 2023, a 2.1% increase on […]

08 Jan 2024

QuotedData’s morning briefing for 8 January 2024 – AERI, CORD, SMIF, ICG, CLDN, RTW, LMP, PSDL

In QuotedData’s morning briefing for 8 January 2024: Aquila European Renewables (AERI) has announced that it has entered into a €50m five-year debt facility with ING Bank N.V. Sucursal en España. The facility is secured by AERI’s wholly owned Spanish solar PV portfolio, with the leverage equal to 26%. The pricing of the debt remains […]

05 Jan 2024

QD view – Our analysts’ top picks for 2024

As we begin another year here at QuotedData, we thought we’d have some fun and challenge our analysts to come up with some ideas for investment companies that they like and think could do well over the course of 2024. To keep things interesting, each analyst has been asked to select two ideas – one […]

04 Jan 2024

Letting success for Tritax EuroBox in Sweden

Tritax EuroBox has let the first phase of its two-unit development in Rosersberg, a prime logistics location near Stockholm. The 5,007 sqm letting reduces the company’s portfolio vacancy rate to 4.3%. A new five-year lease has been signed with a leading Scandinavian photovoltaic (PV) company at a rent that is 3% above the estimated rental […]

04 Jan 2024

QuotedData’s morning briefing 4 January 2024 – DGI9, LABS

In QuotedData’s morning briefing 4 January 2024: Digital 9 Infrastructure (DGI9) says that Keith Mansfield has decided to step down as a director with immediate effect. The board has made some changes: Aaron Le Cornu is appointed chair of the Audit Committee and Brett Miller will join the Audit Committee. Brett Miller is appointed chair […]

03 Jan 2024

QuotedData’s morning briefing 3 January 2024 – IGC

In QuotedData’s morning briefing 3 January 2024: India Capital Growth says that 15,159,876 shares, equivalent to 15.7% of its issued share capital, have been submitted to its annual redemption facility. The redemption price will be annouunced on 8 January 2024. [That is quite a blow for a fund that has delivered a 35% share price […]

22 Dec 2023

QD view – An update on the charges disclosure problem

Back in October, we highlighted some issues facing the investment companies industry related to the rules around cost disclosures – basically, investors have been presented with misleading figures for charges that include the running costs of any underlying funds. That is putting off new investors, encouraging selling by others, and has led to platforms restricting […]

22 Dec 2023

QD – review of the year

This is the last of our weekly emails for 2023. We hope that you have been finding them useful. We will be publishing our annual roundup in January. Ahead of that however, I thought it might be worth pulling out a few of the year’s highs and lows. In January, China’s market shone as hopes […]

21 Dec 2023

QuotedData’s morning briefing 21 December 2023 – HICL, RCOI

In QuotedData’s morning briefing 21 December 2023: HICL Infrastructure is paying £20m for a 3.1% stake in the A63 Motorway concession in France. Completion is expected in early 2024, subject to customary third-party consents. The 40-year toll-road concession covers the design, upgrade, finance, operating and maintenance of a 104km section of the existing A63 between […]

20 Dec 2023

Home REIT valuation report reveals 57.7% drop in value to price paid

A new valuation report on Home REIT’s portfolio has revealed a 57.7% reduction to the price it paid for them of £977.0m. The report conducted by JLL, which was appointed by Home’s new manager AEW, valued the portfolio at £412.9m at 31 August 2023. The majority of the properties have been valued on a vacant […]

20 Dec 2023

QuotedData’s morning briefing 20 December 2023 – INPP, AEIP, API

In QuotedData’s morning briefing 20 December 2023: International Public Partnerships (INPP) announced a series of measures to optimise the company’s portfolio and reallocate capital to improve shareholder returns and address its discount. These include: a transaction involving the realisation of its four OFTO senior debt investments worth c.£200; the full repayment of its corporate debt […]

19 Dec 2023

LondonMetric and LXI REIT in £3.9bn merger talks

LondonMetric Property is in talks with LXi REIT over the possible merger of the two companies. The boards of the two companies are in discussions over the deal that would see LondonMetric acquire the entire issued share capital of LXi. A merger would create a combined company with assets worth £6.4bn and a market capitalisation […]

19 Dec 2023

QuotedData’s morning briefing 19 December 2023 – AIRE, BYG, CTPE, GSF, JGC

In QuotedData’s morning briefing 19 December 2023: Alternative Income REIT (AIRE) has completed the acquisition of a Virgin Active leisure club in Streatham, in South-West London for £5.1m. The price reflects a net initial yield of 9.8% and a discount to replacement cost. The acquisition of the asset redeploys the majority of the net proceeds […]

18 Dec 2023

QuotedData’s morning briefing 18 December 2023 – USF, GABI, JZCP, RC2

In QuotedData’s morning briefing 18 December 2023: US Solar (USF) has announced that six of its Oregon projects have signed new long-term contracts to sell Renewable Energy Certificates (RECs). The REC contracts and revised estimates of future REC prices are expected to increase USF’s NAV by c.$7.6m based on the 30 September NAV ($286.3 million) […]

14 Dec 2023

QuotedData’s morning briefing 14 December 2023 – JZCP, MNKS, AWEM

In QuotedData’s morning briefing 14 December 2023: JZ Capital Partners (JZCP) is getting $62.5m in connection with the sale of Felix Storch from the portfolio of secondary investments that it sold in 2020. It had the right to share in distributions from that fund above an agreed limit. The transaction adds 19 cents to its […]

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