This sector includes mortgage companies, property management companies and REITs
Great Portland Estates (GPOR) has published a trading update and summary on the impact of COVID-19 on the business to date. Summaries of the key takeaways are provided below. COVID-19 update GPOR is supporting our occupiers, particularly in the retail, hospitality and leisure sectors, through agreeing on a case by case basis the payment of […]
Ceiba Investments (CBA) has provided an update to the market in light of the COVID-19 pandemic. It says that, in the first two months of the current financial year, there was no material COVID-19 impact on its operations, trading and investments. However, as of March 2020 hotel reservations for the year started to be affected by […]
U and I Group, the specialist regeneration developer and investor, has exchanged contracts to sell its stake in Harwell Campus for £41.74m. It has sold the science and technology campus in Oxfordshire to Brookfield Capital Partners for an initial cash payment of £28m, plus deferred payments of £13.74m. The deal delivers development and trading gains to U […]
LondonMetric Property has provided a covid-19 update in which it has confirmed it will pay its third quarter dividend. The group, which owns a portfolio of mainly logistics assets, said it had collected 85% of its rent for the quarter as at 1 April 2020. It added that 7% is expected to be received shortly and […]
Self-storage owner Safestore has said it will pay its final dividend, with its stores fully operational. The company’s self-storage units are exempt from shutdown as they provide support to small business customers and companies engaged in key supply chains including healthcare, food industry suppliers and infrastructure support. Key trading performance indicators have seen relatively limited impact, the […]
Industrial and logistics giant SEGRO will pay its final dividend, the company confirmed today. The group said it was in a strong position financially and has collected 71% of the rent due for the first quarter of the year. It is in discussion with tenants representing 25% of total headline rent regarding appropriate relief, primarily through […]
In QuotedData’s morning briefing 2 April 2020 JZ Capital makes probably the least useful announcement we have seen to date on COVID-19 – highlights include “At this time, given the general levels of uncertainty, it is difficult to accurately gauge the potential impact of the COVID-19 outbreak on the company. However, the outbreak is currently having […]
Grit Real Estate Income Group, the pan-African real estate company, has suspended payment of its dividend for four weeks. The company said the interim dividend of US$5.25 cents per share will now be paid on 30 April 2020 and was postponed due to delays with central bank processes and moving cash balances to Mauritius, where it is […]
Primary Health Properties (PHP) has reaffirmed its dividend policy with its business less impacted by covid-19. The company, which owns primary healthcare facilities in the UK and Ireland, said 90% of its contracted rent is either paid directly or indirectly by the UK and Irish governments, with the balance mainly coming from pharmacies attached to its properties. […]
Office developer Helical has placed its dividend distribution under review during the coronavirus pandemic. The group said it collected 84% of the £6.7m total rent due in the first quarter of 2020, with 9% more to be paid in instalments over the next three months. It also collected 90% of its service charge payments in […]
In QuotedData’s morning briefing 1 April 2020 – It has now been confirmed that the UK’s largest banks are suspending dividend payments. Separate statements from Lloyds, RBS, Barclays, HSBC, Santander and Standard Chartered last night noted that they would not proceed with paying out dividends for 2019, nor engage in share buybacks. We published an update […]
Empiric Student Property has suspended payment of its dividend to cover an expected hit on income due to the coronavirus pandemic. The group said in a worst case scenario it could lose up to £21m of revenue this academic year, as it allows students to exit their rental agreements early due to the enforced lockdown. […]
Regional REIT has confirmed that its dividend for Q4 2019 will be paid to shareholders. The group, which owns a portfolio of predominantly office properties in regional locations in the UK, will pay shareholders 2.55 pence per share on the 9 April 2020. In a trading update, the company said it had collected most of […]
In QuotedData’s morning briefing for 31 March 2020: Banks turn off dividend tap? – The Financial Times has a story that the Prudential Regulation Authority will soon force UK banks to suspend their dividend payments. This would knock a big hole in the income of some UK equity income funds. This follows a similar move […]
Retail landlord Hammerson collected just 37% of its rent in the latest quarter but has vowed to help retailers through the covid-19 pandemic. The group, which owns shopping centres in the UK and France as well as outlet centres across Europe, has also suspended its final dividend of 14.8p per share in order to preserve […]
Macau Property Opportunities (MPO) released the following update on the impact of covid-19: “On 20 February, the Macau government lifted its 15-day suspension of casino operations. Whilst casino activity has resumed, tight immigration restrictions remain in force, which continue to impact the market. Visitor arrivals to Macau have declined by 57% year on year (YoY) […]
EasyJet has grounded its entire fleet on a morning that has also seen the price of crude oil fall below $20 (an 18-year low). Jupiter UK Growth (JUKG) reported interim results to 31 December 2019, with the total return NAV increasing by 7.8%. The focus is of course on covid-19. Chairman, Tom Bartlam, said: “In […]
The extent of the disruption caused by the covid-19 pandemic is starting to really bite for property landlords. Unsurprisingly, the retail sector (including leisure and food and beverage) is being hardest hit due to the enforced shutdown of all non-essential shops. A host of big named retailers, such as Primark and Burger King, have said […]
U and I Group, the specialist regeneration developer and investor, has sold three retail assets for a combined £22.4m. It has sold Crown Glass Shopping Centre in Nailsea for £11.15m; two units at The Killingworth Centre in Newcastle for £7.5m; and 89-107 Queen Street in Cardiff for £3.75m. The combined assets were sold marginally below their […]
GCP Student Living has said it intends to pay its third interim dividend but expects “materially reduced revenues” for the final term of the current academic year. The UK REIT said it has received around 74% of all budgeted revenues due to it this academic year but added that the closure of universities due to […]
Supermarket Income REIT (SUPR) has provided an update to the market in which it: reaffirms its commitment to pay its third quarterly dividend; confirms it received 100% of the expected rent for the quarter ended March 2020; announces positive results from two rent reviews; and provides a general update in regards to the impact of […]
British Land has suspended its dividend payments and said it was offering smaller shopping centre tenants a three-month rental holiday due to covid-19. The group said larger retailers and leisure tenants would be able to spread payments over the six quarters from September 2020. The company, which owns and develops office and retail property, said […]
Impact Healthcare REIT, which owns a portfolio of care homes in the UK, has provided a covid-19 business update. The group said the number of occupied beds in its portfolio has been stable, with 3,848 beds occupied on 3 January 2020, and 3,886 beds occupied on 20 March 2020. It added that a number of the group’s […]
Self-storage giant Big Yellow Group (BYG) has reported a drop-off in occupancy as a result of covid-19. The company said current like-for-like occupancy across its portfolio is 81.6% across 56,000 customers. In half-year results to the end of September 2019, like-for-like occupancy was 84.1%. The group said it had seen an increase in demand from […]
Intu Properties has said it expects to seek covenant waivers from its lenders as the impact of covid-19 hits its rental income. The group, which owns shopping centres in the UK and Spain, said it had received 29% of its rent for the second quarter when it fell due yesterday (25 March 2020). For the […]
In QuotedData’s morning briefing 26 March 2020: As the excitement of yesterday’s $2trn stimulus gave way to the reality of sharply rising cases in the US and stories of a potential uptick in cases in Japan (where the virus seemed to be under control) markets are falling once again. NB Private Equity has increased its borrowing […]
St Modwen Properties has said it is in a strong position to handle the disruption caused by covid-19. The group has adjourned its AGM, scheduled for 27 March 2020, and therefore payment of its final dividend for 2019 of 5.1 pence per share, which was due to be paid on 3 April 2020, as this requires […]
In QuotedData’s morning briefing 24 March 2020: UK goes into lock down, following a number of other European countries BlackRock Greater European will not hold a tender offer in May 2020, reasoning that the discount was under control ahead of the recent volatility Jupiter US Smaller Companies was beating its benchmark at 31 January 2020 […]
Several property companies have updated the market on the impact of Covid-19 on their business. Here we have rounded up the latest. Yesterday we reported updates from NewRiver REIT, Schroder REIT and Civitas Social Housing. You can read them by clicking the links. QuotedData has also published a piece looking at the likely long-term impact […]
The coronavirus has had a big impact on markets around the world, but the longer-lasting effects have yet to be realised. We have seen people’s day-to-day lives change, from stock-piling essential goods to working from home. Technology has enabled these things to happen, things like home delivery and conferencing call facilities. One of the knock-on […]
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