This sector includes mortgage companies, property management companies and REITs
Travelodge updates from LXI and Secure Income Following on from our earlier stories, LXI REIT says it owns 12 hotels let or pre-let to Travelodge, representing 10% of the annual contracted rents, including contracted rents under agreements for lease. Two of these hotels are under construction and benefit from cash-backed developer licence fees and a further […]
In QuotedData’s morning briefing 4 June 2020: Securities Trust of Scotland served notice on Martin Currie after it found out that Mark Whitehead (the portfolio manager) had resigned from Martin Currie – he leaves on 1 December 2020. “The board will be undertaking a review of its management arrangements, which process will include Martin Currie, and […]
London office developer Helical has seen the value of its portfolio jump 5.9% in the year to 31 March 2020. Despite the uncertainty caused by covid-19, the group’s property portfolio has increased in value to £949.3m on a see-through basis. This has resulted in its EPRA net asset value (NAV) increasing 6.0% during the year to […]
Travelodge has today launched a CVA that will allow it to temporarily slash rents. The launch of the CVA (company voluntary arrangement – an insolvency process used by businesses to shed unprofitable leases and cut rents) follows an ongoing dispute between the budget hotel operator and some of its landlords. Unlike most CVAs, Travelodge will not […]
Grit Real Estate Income Group, the pan-African income real estate company, has revised its dividend guidance for the year due to covid-19. The company, which owns 47 assets across Africa that are predominantly US dollar or euro denominated long-term leases, is targeting a full-year dividend of at least US$8.75 cents per share (cps), which equates to […]
LondonMetric Property has made two acquisitions totalling £11.6m following its £120m equity raise last month. The company has bought five roadside service centres in a sale-and-leaseback deal with Kwik Fit. The assets were bought for £9.6m and are located in Barnet, Whetstone, Hounslow, Hammersmith and Slough. LondonMetric said each had a strong underlying residual value supported by […]
Town Centre Securities (TCS) has announced it will pay an interim dividend for the six months to the end of December 2019, but has put future payments under review. The company, which owns a portfolio of retail, leisure and car parks, has said it will pay the previously announced 3.25p dividend in June, but its final […]
Gresham House Energy Storage (GRID) is assessing options to raise debt finance, to fund the acquisition of new battery storage projects. GRID’s previously communicated plans include commissioning a further 190MW of battery storage in 2020, increasing total capacity to 364MW by the end of this year. Civitas Social Housing (CSH), the London-listed REIT dedicated to investing […]
Warehouse REIT is considering an equity fundraise to capitalise on a pipeline of acquisitions as its portfolio proves resilient against covid-19. The group said it was engaging with existing and potential new investors ahead of a potential equity raise, after aborting a fundraise in March as the pandemic took hold. However, the company said it was well placed […]
In QuotedData’s morning briefing 2 June 2020: Witan has published an analysis of its performance in 2020. “In broad terms, our 12% underperformance has been due mainly to the underperformance of our underlying portfolio (9%), exacerbated by being geared into a market fall (2%), with an additional 1% being the cost of the early repayment of […]
German business parks owner Sirius Real Estate posted an 8.9% increase in net asset value (NAV) in the year to the end of March 2020. The company said NAV per share increased to 77.35 euro cents (2019: 71.01c), with EPRA NAV per share of 80.62 euro cents (2019: 74.82c). The increase in NAV reflects a like-for-like […]
Capital & Counties has agreed to acquire a 26.3% shareholding in rival West End landlord Shaftesbury for £436m. The group will pay 540p per share for the 80.7 million shares from Hong Kong billionaire Samuel Tak Lee. It represents a discount of 13.9% to the closing Shaftesbury share price on 29 May 2020. The price is […]
Capital & Counties this week confirmed it was in talks to buy a 26.3% stake in rival West End landlord Shaftesbury in what would be the first steps in a long-mooted merger of the two groups. Capco, which owns huge swathes of Covent Garden, is in discussions to buy Hong Kong billionaire Samuel Tak Lee’s […]
Urban Logistics REIT saw the value of its portfolio rise 4.6% on a like-for-like basis in the year to the end of March, as the sub-sector continues to perform strongly despite the impact of covid-19. The company reported a flat net asset value (NAV), of 137.9p per share, taking into account a £136m fundraise in […]
West End property landlord Capital & Counties (Capco) is in talks to acquire a 26.3% stake in rival Shaftesbury, potentially paving the way for a multi-billion pound takeover. Capco, which owns a vast chunk of Covent Garden, confirmed it was in discussions to buy the stake from Hong Kong billionaire Samuel Tak Lee following a […]
In QuotedData’s morning briefing 29 May 2020: The balance between re-opening economies around the world and minimising new cases of covid-19 is delicate. South Korea has closed schools, just a day after re-opening, after recording its highest total of new cases in two-months, yesterday. Templeton Emerging (TEM) has received a tax windfall from HMRC. £26.5m or […]
In QuotedData’s morning briefing 28 May 2020: Aberdeen Standard European Logistics Income (ASLI) posted a NAV total return of 8.6% in 2019 it reported today in full year results. IFRS earnings per share for the year was 9.6 euro cents, covering a dividend of 5.75 euro cents. Earlier this week ASLI made a NAV announcement for […]
British Land has reported a 10.1% drop in the value of its property property as the covid-19 pandemic takes its toll on the group’s retail portfolio. For the year ending 31 March 2020, British Land’s portfolio valuation plummeted by £1.2bn, from £12.3bn to £11.1bn. The FTSE 100 REIT said that the drop was driven by […]
Hammerson chief executive David Atkins has stepped down from the role. Atkins will remain in position until spring 2021 at the latest, while the board conducts a search for his successor, the company announced today. Hammerson, which owns a portfolio of shopping centres, retail parks and outlet centres across the UK and Europe, has suffered […]
Supermarket Income REIT (SUPR) has acquired a 25.5% stake in a portfolio of Sainsbury’s supermarkets in a joint venture (JV) with British Airways Pension Fund. The JV has acquired the stake in the 26 stores from British Land for £102m. SUPR’s contribution to the JV is £51m, excluding costs, which will be satisfied from its existing […]
Latin America is now the centre of the pandemic. While Brazil has been in the headlines most, there are concerns that Venezuela is particularly unprepared to cope, were cases to escalate. The BBC reports that on a per capita basis, Ecuador is the worst affected country in the region. Flexible investment company, Caledonia (CLDN), reported […]
AEW UK REIT has sold its largest asset for £18.8m. The car park asset at Geddington Road, Corby, was acquired in February 2018 for £12.4m and is fully let to Gefco UK for just over one year. AEW UK said it had not invested any capital expenditure in the asset during its hold period, which has […]
Aberdeen Standard European Logistics Income (ASLI) has posted a 6.1% jump in net asset value (NAV) for the first quarter of 2020. The company, which owns a portfolio of 14 logistics assets across Europe, reported NAV per share of 99.92p (112.7c) at 31 March 2020, up from 94.21p (111.0c) on 31 December 2019. The increase […]
In QuotedData’s morning briefing 26 May 2020, as the lockdown begins to ease: FastForward Innovations says its medicinal cannabis investment, Emmac Life Sciences will manufacture product for a clinical trial as part of a Consortium led by the University of Valencia. The clinical trial in COVID-19 patients will use the T12 molecule to prevent disease progression […]
It was announced today that UK retail sales fell almost 20% in April as strict lockdown measures took hold. In the clothing retail sector, the impact of lockdown was even bleaker. Sales volumes plummeted over 50% when compared to March, which had already fallen by 34.9% on the previous month. With lockdown measures gradually being […]
In QuotedData’s morning briefing 22 May 2020 DP Aircraft has ended up with a 5.02% stake in Norwegian Air Shuttle as part of a debt for equity swap. It could sell some of this in August and October but the whole holding can be sold in December. River and Mercantile UK Micro Cap (RMMC) has released […]
Regional REIT has now collected 93.9% of rent for the current quarter, it announced in a trading update. The group, which owns office and industrial assets in regional UK cities, said the figure was ahead of that collected at the same point last year (92.7%). It said it will pay a dividend of 1.90 pence […]
Assura has reported strong full year results in which net asset value (NAV) increased 1.1%. The company, which owns a portfolio of 576 GP surgeries and medical centres, posted a diluted EPRA NAV per share of 53.9p. The group’s portfolio jumped in value by 8.1% in the year to £2.14bn due to acquisitions. On a […]
In QuotedData’s morning briefing 21 May 2020, as the UK government issues three-year debt with a negative yield: Electra NAV dives to 373p from 548p, hit by fall in value of Hotter Shoes and TGI Fridays. Hotter Shoes is looking to “right size the retail estate” – shut shops – once the lockdown eases. TGI Fridays […]
Great Portland Estates has posted a 1.8% rise in net asset value (NAV) in full year results to the end of March 2020. The central London office developer reported an EPRA NAV per share of 868p. Its portfolio valuation was stable, with a slight decrease of 0.3% to £2,624.1m. The increase in NAV was due to […]
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