This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 8 February 2024: Digital 9’s (DGI9) sale of Verne Global may take longer than expected to close as the Icelandic anti-trust authority wants to look at the transaction. The company warns that this could add between 90 and 135 days to the wait for the final sign off of the deal. […]
In QuotedData’s morning briefing 7 February 2024: UK Commercial Property REIT (UKCM) posted a 2.5% fall in NAV to 78.7p per share in the quarter to 31 December 2023. The group’s portfolio value dropped 2.1% in the period to £1.25bn. On the operational side, the company grew earnings 6.3% over 2023 to 3.35p per share. […]
In QuotedData’s morning briefing 1 February 2024: CVC Income & Growth (CVCE / CVCG) is holding a tender offer in March. As part of this it is offering shareholders the chance to sell their shares on to third parties rather than wait for the tender. The broker Winterflood will try to sell the shares but […]
In QuotedData’s morning briefing 31 January 2024: Henderson Smaller Companies Investment Trust (HSL) announced its results for the half year ended 30 November 2023. NAV total return fell by 7.7% during the six month period, while the benchmark Numis Smaller Companies ex-Investment Companies Index was almost flat, and the AIC UK Smaller Companies sector average […]
In QuotedData’s morning briefing 30 January 2024: Greencoat UK Wind (UKW) announced the appointment of Abigail Rotheroe as a non-executive director of the company. Her appointment will be effective from 1 March 2024. Abigail is a CFA Charterholder and brings over 20 years’ experience in the investment industry. She is the former investment director of […]
Grit Real Estate Income Group, the pan-African real estate company, has subscribed to its share of a $100m capital call from its development subsidiary GREA (Gateway Real Estate Africa), which will use the funds to construct US Embassy-let diplomatic housing and other real estate. To fund the $51.5m capital call, the company sold its interest […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 – […]
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 […]
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 […]
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 […]
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 […]
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 […]
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.
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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