This sector includes mortgage companies, property management companies and REITs
Secure Income REIT sells hospital portfolio for £347m – Secure Income REIT has sold a portfolio of eight private hospitals for £347m. The sale of the Ramsay Health Care-let assets to US specialist healthcare REIT Medical Properties Trust will reduce Secure Income REIT’s LTV to 33.5%. The deal will increase EPRA NAV per share by an estimated […]
Unite posts strong earnings and dividend growth – Student accommodation specialist Unite Group, which is in the middle of a £1.4bn acquisition of Liberty Living, posted earnings growth of 16% in its half-year report, boosting its dividend by 8%. EPRA earnings rose to £61.2m in the first half of 2019, compared to £52.9m in H1 2018. […]
In QuotedData’s other news 23 July 2019: Yesterday’s mystery about who bought Woodford’s stake in Crystal Amber has been cleared up. Discount-driven investor, 1607 Capital Partners, announced that they now have a 10.34% stake in the company. The trades were done at 190p, a 23.7% discount to NAV and 3p below the market bid price at […]
Schroder REIT updates on performance – Schroder Real Estate Investment Trust has reported a marginal drop in NAV in the quarter to 30 June 2019. The unaudited NAV was £355.7m or 68.6 pence per share (pps), a decrease of 0.15% per share compared with the NAV at the end of March. It did, however, report a […]
Yew Grove REIT buys three industrial properties – Yew Grove REIT has exchanged contracts on a portfolio of three industrial buildings at the IDA Business and Technology Park, Garrycastle, Athlone. The purchase price was EUR13 million, which represents a net initial yield of 7.6 per cent. after accounting for purchase costs, and a potential reversionary yield […]
In QuotedData’s other news 22 July 2019: LXI REIT has agreed a new £100m revolving credit facility, provided by Lloyds Bank plc at 1.55% per annum over LIBOR. This complements the company’s existing 10-year, 12-year and 15-year term loan facilities with Scottish Widows. The new facility has an initial term of three years, which may be extended by […]
Target Healthcare REIT sells two care homes – Target Healthcare has completed the sale of two care homes in Surrey and Essex, the price has not been disclosed. The company received offers for the homes at a combined price greater than 5% above the 31 March 2019 book value. These disposals represent less than 3% of the […]
Primary Healthcare buys Meath health centre – Primary Health Properties has completed the acquisition of The Meath Primary Healthcare Centre, Dublin 8, a standing let primary care centre in the Republic of Ireland. The company announced it was planning to make this acquisition in March. Primary Health Properties ICAV, an Irish investment vehicle wholly owned by […]
Warehouse REIT growing its portfolio – Warehouse REIT (WHR) is busy expanding its portfolio; after raising £120m in April, the company has deployed a small chunk of the proceeds to acquire a warehouse property in Chorley, Lancashire for £3.60m and an industrial warehouse premises in Doncaster, South Yorkshire for £1.68m (extending its current holding at […]
In QuotedData’s other news 12 July 2019 FastForward Innovations has swapped its stake in Intensity Therapeutics for shares in Portage Biotech, a Canadian listed company part-owned by Jim Mellon (a director of FastForward). Portage has no revenue but the value of the Portage shares FastForward is getting implies a small uplift in FastForward’s NAV. Aberdeen Standard […]
In QuotedData’s other news 11 July 2019 Gresham House Energy Storage is placing more shares today at 105p (a discount from the share price of 109.5p but at a premium to NAV. The placing is only open to institutional investors. We also have results from Invesco Asia and the sharp drop in Chelverton UK Dividend’s share […]
In QuotedData’s other news 10 July 2019 One of the smallest listed investment companies, SVM UK Emerging, published results for the year ended 31 March 2019. It underperformed its benchmark, returning -1.8% in NAV terms and -6.7% in share price terms against a 2.8% return for the IA UK All Companies sector average [no we don’t […]
In QuotedData’s other news 9 July 2019: Greencoat UK Wind (UKW) announced that Daniel Badger had tendered his resignation as non-executive director of the company with effect from 31 July 219. He has been on the board since 2013. We note that UKW recently raised £375mn as part of its share issuance programme; Ahead of announcing […]
Intu Properties and Cale Street complete Derby JV– The shopping centre-focused real estate company, Intu Properties (INTU), and Cale Street Investments (Cale), an investment firm backed by the Kuwait Investment Office, the London office of the Kuwait Investment Authority, announced on 18 April 2019 that they were forming a joint venture that will own the […]
Real Estate Investors benefitting from vibrant midlands economy – The multi-sector midlands-focused property company, Real Estate Investors (RLE), has reported results covering the first-half period to 30 June 2019. RLE has a 1.53mn square foot commercial property portfolio across the region (Birmingham is the main portfolio city). The portfolio was 96.2% occupied over the period […]
PRS REIT updates on progress – PRS REIT has updated the market on the final three months of its financial year ended 30 June 2019, and provided an overview of progress over its first two years. Since launch on 31 May 2017, 1,173 new homes have been delivered, generating a rental income stream of GBP10.7m […]
In QuotedData’s other news 4 July 2019: Ashoka India Equity raised £5m from its issue of stock – it will issue 4,742,972 of its shares at a price of 111.7p. Cambria says that Payserv Africa Limited and Paynet Zimbabwe (Pvt) Ltd have instructed their legal practitioners in Zimbabwe, Titan Law, to commence legal action against the Bankers […]
Unite Group buying Liberty Living – Student accommodation business, Unite Group, is to buy rival, Liberty Living in a £1.4bn deal ( £0.8bn in cash and £0.6bn in shares). The vendor is Liberty Living Holdings Inc., a wholly owned subsidiary of Canada Pension Plan Investment Board. The Liberty Living portfolio comprises 24,021 beds and was independently […]
In QuotedData’s other news 28 June 2019 Origo Partners results to end December 2018 (ancient history now) show its NAV halving from 3.9 cents to 1.8 cents, down to: – (i) write offs of the company’s investments in Celadon, Gobi Coal, Staur Aqua, Fram, Six Waves, and Unipower; (ii) realised losses from the company’s sale of its […]
Target buys Nottingham care home – Target Healthcare has completed the acquisition of a property in the city of Nottingham for approximately £7.6 million, including transaction costs, through a sale and leaseback. Constructed in 2013, Acorn House comprises 64 bedrooms, each with full en suite wetroom facilities, over three floors. It is close to the centre […]
Standard Life Investments Property Income re-lets Bourne House – At Bourne House in Staines (a 26,300sqft office) the company took a surrender of the lease on the whole from the existing tenant, Ricoh, which had indicated it wanted to downsize, and which had a break in 2021. Simultaneously the property has been re-let on a new […]
Real Estate Credit Investments (RECI) has announced its annual results for the year ended 31 March 2019. The company has reported an increased year end NAV of £1.65 per Share, which it says builds upon the consistency of the previous four years. During the year, RECI provided total dividends of 12.0p per Share and […]
LXi REIT has announced that, following the completion of its £200m equity fundraising that was announced on 13 June, it has completed a number of acquisitions for a combined total investment of approximately £135 million. The company says that this reflects a weighted average net initial acquisition yield of 5.7% (net of acquisition costs). The […]
QuotedData attends Civitas annual results – Civitas Social Housing (CSH) presented its annual results, to 31 March 2019, at an analyst briefing earlier this morning. The company says the portfolio has been independently judged to have produced £114m worth of social value to date, including £59m annual direct savings to the taxpayer. We will discuss […]
AEW UK REIT (AEWU) has announced its annual results for the year ended 31 March 2019, during which it achieved its target income returns of 8p per share. Dividends were fully covered by EPRA EPS of 8.07 pps. Mark says that this reflects the high yielding nature of the portfolio. . The chairman, Mark Burton, […]
Further to Regional REIT’s (RGL’s) announcement on 17 May 2019 that it was considering an equity fundraise “to take advantage of its growing near-term pipeline of opportunities”, the company has announced proposals for a £50m fund raising. The proposed fundraise will comprise a Placing, Open Offer, Offer for Subscription and Intermediaries Offer. In summary, RGL […]
In QuotedData’s other news 21 June 2019 – Adamas Finance Asia will quote its shares in sterling rather than dollars with effect from 24 June. Its board believe that this will make its shares more accessible for UK investors by eliminating their need to consider the prevailing exchange rate between US Dollars and Pounds Sterling when […]
In QuotedData’s other news 20 June 2019 Pershing Square has announced a $100m share buy-back programme – up to 6m shares will be repurchased and the transactions are expected to enhance NAV (in other words they’ll buy back the shares at a discount to NAV). The NAV at 18 June was $24.63 and the share price […]
Aseana says manager will step down 30 June – Aseana Properties says that Ireka Development Management Sdn Bhd (“IDM”), the current Development Manager of Aseana, will cease to act as the company’s development manager on 30 June 2019. This represents an extension to IDM’s three months’ notice period and is to ensure a smooth handover following […]
Impact Healthcare REIT buys York care home – Impact Healthcare REIT has acquired Birchlands Nursing Home for a net consideration of GBP3.9 million. The initial rent will be GBP300,000. Birchlands is a purpose-built nursing home located on the outskirts of York with 51 bedrooms. It currently has 100% occupancy and is rated Good by the CQC […]
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