This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 11 November 2020 – Gabelli Value Plus+ (GVP) published a circular in connection with the notice requisitioning a general meeting of the company from Associated Capital Group. On 22 October, GVP received a notice from ACG requisitioning a general meeting of the company. GVP’s board says that it does not consider that the package of measures […]
Urban Logistics REIT has acquired a logistics site for £34.3m as it continues to deploy the proceeds of its recent equity raise. The company has bought the site in Hoddesdon, Hertfordshire, at a net initial yield of 5.4%. The 12-acre site comprises five units, three of which are let to Müller UK & Ireland Group, a […]
AEW UK REIT has acquired a multi-let industrial estate, which increases its exposure to the sector to 54.3%. The company has bought Westlands Distribution Park in Weston Super Mare for £5.4m, using the proceeds from the sale of its largest asset earlier this year. The purchase price reflects a net initial yield of 6.4%, which […]
Land Securities has reported an £835m loss for the six months to the end of September 2020 as the value of its property portfolio tumbles £945m (7.7%) to £11.8bn. The company’s EPRA net tangible assets (the new metric that replaces EPRA NAV) was down 9.5% to 1,079p. Adjusted diluted earnings was down 49% to 15.5p […]
Countrywide gets 250p approach – Countrywide has received an indicative approach from Connells Limited to acquire the entire issued and to be issued share capital of the Company, in cash, at a price of 250 pence per Countrywide share. The approach is at an early stage and Connells Limited has indicated that any offer is conditional […]
In QuotedData’s morning briefing 10 November 2020 – ICG Enterprise (ICGT) announced the appointment of David Warnock as a non-executive director with effect from 1 December 2020. David co-founded the investment firm of Aberforth Partners and was a partner for 19 years until his retirement from that firm in 2008. The announcement also notes that […]
Schroder REIT has provided a trading update in which it has stated it has collected 84% of rent for the quarter so far. The company, which owns a diverse portfolio of property assets in the UK, said the collection rate was ahead of the equivalent date in the previous quarter. The breakdown between sectors is 93% […]
Urban Logistics REIT has bought five logistics assets for £33.1m just weeks after raising more than £90m in a fundraising. The deals were all conducted off-market at a blended net initial yield of 6.4%. The assets Ripon The group has acquired a 43,881 sq ft distribution unit in Ripon for £2.9m in a sale-and-leaseback deal […]
In QuotedData’s morning briefing 9 November 2020 – Tufton Oceanic Assets (SHIP) has agreed to divest one Suezmax Tanker for $19m. The divestment will reduce the company’s fleet from nineteen to eighteen vessels. SHIP says that the realised yield and internal rate of return (IRR) will greatly exceed the targets expressed in its prospectus. This will be the […]
QuotedData’s weekly news show 6 November 2020 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: Riverstone Energy triggering a discontinuation vote ICG Longbow recommending an orderly realisation of its assets Wellcome Trust bidding […]
Civitas Social Housing has announced its net asset value as at 30 September 2020, made a dividend declaration and has provided a trading and market update. The key highlights from the announcement are as follows: Strong financial and operational performance in line with expectations IFRS NAV per share 108.01p (30 June 2020: 107.92p) Rents received […]
RDI REIT targets full exit from retail assets – RDI REIT says that, for the year ended 31 August 2020, its EPRA NAV fell by 18.3% from 185.5p to 151.5p and its earnings per share almost halved from 13p to 6.9p. The dividend was cut in half – to 5p from 10p. Highlights for the year […]
In QuotedData’s morning briefing 5 November 2020, as it looks as though Joe Biden is on his way to the White House: JPMorgan Emerging Markets reminds us that, if shareholders approve at today’s AGM, its shares will be split on a 10 for one basis from tomorrow morning. Shareholders should note that this should not change […]
In QuotedData’s morning briefing 4 November 2020 – It has been a quiet morning of news so far, with all eyes on the US election. Value and Income (VIN) has received notice from OLIM Limited, the investment manager responsible for the management of VIN’s equity portfolio, of its intention to terminate the investment management agreement. The […]
Regional REIT buys Cardiff office – Regional REIT has completed the acquisition of a modern Grade A flagship office building in Cardiff for £8.4m.The four-floor, 61,641 sq. ft. building is set in a 6.0 acre site with some 200 dedicated car parking spaces and is located in Global Reach, Cardiff. They say that it benefits from […]
In QuotedData’s morning briefing 3 November 2020 Finally, Waterfall has made its offer to investors in Alternative Credit Investments (ex P2P/Pollen Street Secured Lending). The bid is at 870p per share in cash plus a 12p dividend. It values the fund at £639.2m. This is a 6.3% discount to NAV. The bid is recommended by ACI’s […]
In QuotedData’s morning briefing 2 November 2020 – Downing Strategic Micro-Cap (DSM) reported interim results for the six months ended 31 August 2020. The NAV increased by 22.5% from the March 2020 low-point, but was down 5.5% over the period, on a per-share basis. Chairman, Hugh Aldous, noted the following: “I said in May that we […]
The COVID induced discounts that some UK real estate investment trusts (REITs) are trading on have been grabbing the attentions of investors for many months now. Private equity giant Brookfield Asset Management took a 7% stake in British Land in May and upped it to 9.2% last month, while KKR has snapped up a chunk […]
QuotedData’s weekly news show 30 October 2020 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: a crossroads for UK Mortgages an unwelcome tender offer for shares in Alternative Income REIT Augmentum raising £28m […]
In QuotedData’s morning briefing 30 October 2020 – Augmentum Fintech (AUGM) successfully completed its placing and retail offer, with demand exceeding the issue size. Admission of the new shares to the LSE is expected on 3 November 2020. Tim Levene, CEO of AUGM’s manager, commented: “The success of this fundraise reflects the growing shift in the move […]
Custodian REIT has reported a modest 0.5% fall in net asset value (NAV) for the third quarter of 2020 and updated on rent collection. The company, which owns a diversified portfolio of property assets across the UK with a 47% weighting to the industrial sector, posted a NAV per share of 95.2p at 30 September […]
Supermarket Income buys Sainsbury’s in Newcastle – Supermarket Income REIT has bought a Sainsbury’s supermarket in Heaton, Newcastle upon Tyne, from the National Farmers Union for £53.1m, reflecting a combined net initial yield of 4.1%. The 11-acre site was originally developed in the 1980s and completely rebuilt in 2011. There is a 68,000 sq ft net sales area […]
In QuotedData’s morning briefing 29 October 2020: Henderson International Income, managed by Ben Lofthouse, reported a -3% return on NAV and -5.2% return to shareholders for the year ending 31 August 2020. Both some way behind the trust’s MSCI World (ex UK) Index, which returned +8.1%. The board notes though that higher yielding shares within the index […]
Impact Healthcare REIT, the care homes investor, has reported a 1.8% rise in net asset value (NAV) for the third quarter and confirmed 100% of rents for the year to date have been collected. In a trading update for the quarter ended 30 September 2020, the company said the unaudited NAV per share was 109.06p, compared to 107.17p at […]
In QuotedData’s morning briefing 28 October 2020 – Apax Global Alpha (APAX) announced that Genius Sports Group, a portfolio company of the Apax IX fund, and dMY Technology Group, a publicly traded special purpose acquisition company (SPAC), have agreed to combine. As a result of the business combination, GSG and dMY II shareholders will exchange their shares for […]
Glenstone Property has announced its intention to acquire 25% of Alternative Income REIT (AIRE). The tender offer of up to 20,125,000 shares at a price of 59.25p represents a premium of 12.9% on the closing price on 26 October 2020, but a 29% discount to the 30 June 2020 net asset value (NAV) per share of […]
In QuotedData’s morning briefing 27 October 2020: Aberdeen Diversified Income and Growth Trust will repurchase £43,904,000 of its 6.25% bonds, equivalent to 73.2% of the total issue. The purchase price of 154.094491% was calculated using a credit spread of 0.80% above the redemption yield on the United Kingdom 6% Treasury Stock due 7 December 2028. So, the […]
Grit Real Estate Income Group, the pan-African real estate company, has reported a big drop in net asset value (NAV) as a result of the impact of COVID-19 on its retail and hospitality properties. The group said its NAV per share for the year to the end of June 2020 would be between US$1.18 and […]
In QuotedData’s morning briefing 26 October 2020 – Pershing Square (PSH) announced the launch of an offering of up to $500m aggregate principal amount of senior notes with a maturity not later than 2031. The net proceeds are expected to be used for general corporate purposes, including to make investments in Pershing Square Tontine Holdings, […]
Mark Allan, the new chief executive of Land Securities, this week set out his strategy for growth at the former goliath of listed property companies. Since taking over the hot seat from Rob Noel in April, Allan has been undertaking a strategic review of the business. That review has concluded with four key pillars for […]
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