This sector includes mortgage companies, property management companies and REITs
As another week of lockdown comes to an end, property companies continue to update the market on the impact on their businesses. The latest slew of rent collection updates reveal that it isn’t just the retail, leisure and hospitality sectors that have been hit. Almost all companies have seen an impact on income (apart from […]
Town Centre Securities (TCS) has provided an update on the impact of covid-19, stating it has collected 71% of its rent for the quarter. For the rent quarters commencing 25 March and 1 April, TCS billed £4.9m of rent and service charge. As at 8 April 2020 it collected £3.5m or 71%, with a further […]
Warehouse REIT has committed to paying its 2020 dividend target. The group paid its third quarter dividend of 1.6p per share on 31 March 2020 and added that it remained committed to meeting its dividend target for the financial year to 31 March 2020 of 6.2p per share. As at 7 April 2020, it collected […]
Custodian REIT said it would reduce its quarterly dividend to a level broadly linked to net rental receipts. It said it intended to make the fourth quarterly interim dividend payment relating to the quarter ending 31 March 2020 of 1.6625p per share on 29 May 2020, reflecting the full collection of rent for that period. But due to a disruption to cash collection in the current quarter, as a […]
Regional REIT has reported a net asset value (NAV) fall of 2.5% in 2019 results and provided a covid-19 update, stating it had received 82% of rent due for the quarter. The group posted an EPRA NAV per share of 112.7p for the year to the end of December 2019, compared to 115.5p in 2018. Adjusted […]
In QuotedData’s morning briefing 9 April 2020: Rating agency, Moodys has placed Hammerson’s credit rating under review. Currently it rates it as Baa1 (the equivalent of BBB+. If the rating falls below Baa3/BBB-, Hammerson’s debt will no longer be classed as investment grade and it could find it more expensive and harder to borrow and to […]
Urban Logistics REIT has acquired nine assets and a development site for a total of £56.1m. The deals follow its £136.1 million equity capital raise which completed in March. The acquisitions were made at an average net initial yield of 6.3% and comprise: a portfolio of seven single-let regional distribution warehouses for £31.9m; an NHS distribution centre in […]
London office developer Derwent London has confirmed its final dividend. The group will make a final dividend payment of 51.45p on 5 June 2020. Derwent said it had so far received 73% of rents due on the quarter day, with another 6% now being received on a monthly basis in May and June. Therefore, at […]
Tritax Big Box REIT has withdrawn its dividend target for 2020 in light of the covid-19 pandemic. The company has collected the majority of its advanced quarterly rent that was due on 1 April 2020 (86%, with a further 10% expected to be paid by the end of May 2020). Around 50% of Tritax Big […]
Greencoat UK Wind (UKW) said that to-date, there has been no material impact on the company’s day-to-day operations or performance. Aberdeen Standard Asia Focus (AAS) released interim results to 31 January 2020 ( Total return performance in NAV and share price terms was (8.3%) and (6.2%), compared to the MSCI Asia (ex-Japan) smaller companies index […]
Workspace Group, one of London’s leading providers of flexible office space, collected around 50% of rents for the quarter. The group said it expects a significantly lower level of cash rental income in the short term, as its 3,000 business tenants battle against the impact of the coronavirus pandemic. Workspace said it had received a “large […]
In QuotedData’s morning briefing 7 April 2020 At 16:42 yesterday, Assura announced plans to issue up to 240,207,920 shares to fund the purchase of additional medical centres. £2.5m would be donated to the Assura Community Fund, to support local communities in areas where it has assets, most would go to finance investments – it had a […]
Schroder Real Estate Investment Trust has postponed payment of its dividend due to the impact of covid-19. The group said it intends to pay the postponed dividend, which was due to be paid in June 2020, in part or whole at a later stage. As at 3 April 2020, the company had received payments reflecting 63% […]
LXI REIT has confirmed payment of its final dividend despite taking a hit on income due to the covid-19 pandemic. The company, which owns a portfolio of inflation-protected long-let property, said it expects to approve the payment of the company’s final quarterly dividend for the year ended 31 March 2020, at the rate of 1.4375 pence […]
Secure Income REIT (SIR) provided the following update: “The evolving impact of covid-19 and the responses to it, including the UK wide ‘lockdown’, undoubtedly present challenges to a great many businesses across the globe. At this time of uncertainty, our priorities are to keep our team safe, maintain close relationships with our tenants and to […]
Financial markets have begun the week on the front foot with equities rallying on signs that the the daily mortality rates in Italy, Spain and France might be peaking. Some governments are believed to be countenancing measures to ease lockdowns as well. Elsewhere, UK Prime Minister, Boris Johnson, was admitted to hospital as a precautionary […]
The effect of the covid-19 enforced lockdown has brought into sharp focus the importance of discretionary and non-discretionary spend in the retail sector. All four specialists retail REITs have now revealed how much rent they collected on rent quarter day and it doesn’t make for good reading. Intu received just 29%, Hammerson 37%, Capital & […]
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 […]
Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.
Due to data protection policies, USA residents can not access our data.
Your content has been curated
