This sector includes mortgage companies, property management companies and REITs
In QuotedData’s other news 19 June 2019 Summit Properties has sold an office building in Germany for €225m, 7.9% above its €208.6m valuation as at 31 December 2018. The property’s annual rental income as of 31 December 2018 totaled €4.62m, reflecting a rental yield of 2.1%. Regional REIT announced a number of new lettings, reporting 11.6% higher […]
Picton issue flops – Picton Property Income’s placing, which was announced on 12 June and trailed in its results announcement, has failed to raise its target. The company said it had identified important asset management initiatives “20 separate asset management initiatives… with total costs of approximately GBP15 million“, which it wanted to progress further over the short […]
In QuotedData’s other news 18 June 2019 Primary Healthcare Properties is launching a £150m convertible bond issue and using the money to repay its £75m, 5.375% senior unsecured bonds due 2019. The new convertibles will mature in July 2025, issued at par and are expected to carry a coupon of between 2.625% and 3.125% per annum payable […]
Aberdeen Standard European Logistics buys Dutch warehouse – Aberdeen Standard European Logistics Income has signed an agreement to acquire a freehold logistics warehouse in ‘s-Heerenberg, The Netherlands, for a net value of EUR24.0 million providing an expected net initial yield of 5.0%. The transaction is expected to close in July 2019. This is a freehold facility providing […]
In QuotedData’s other news 17 June 2019, Tritax Big Box REIT has entered into a new £200m unsecured revolving credit facility at a margin of 1.1% over LIBOR. The facility has a five-year life but can be extended for two more years. We also have an update on Leaf Clean Energy‘s court case
Alpha Real Trust announces tender alongside results – Over the year to 31 March 2019, Aplha Real Trust’s NAV rose from 172.9p to 204.3p. The quarterly dividend has been upped to 0.8p from 0.6p. The company sold its Frankfurt data centre site for EUR44.8 million and the Monk Bridge, Leeds Private Rented Sector residential site […]
In QuotedData’s other news 14 June 2019: Utilico Emerging Markets has published its annual report covering the year ended 31 March 2019. In a year where the MSCI Emerging Index delivered a zero return, the trust at least managed some positive performance, generating an NAV return of 3.5%. Shareholders also benefited from a narrowing discount. The […]
Tritax EuroBox buys a logistics facility near Frankfurt – Tritax EuroBox has bought a prime, modern logistics facility near Frankfurt in Germany for a total consideration of EUR50.6 million, reflecting a net initial yield of 4.75%. This is a new, well specified, purpose-built facility has a gross internal area of c.43,000 sqm, an eaves height of […]
In QuotedData’s other news 13 June 2019 – Augmentum Fintech made follow on investments totalling £8.5m in three of its portfolio companies – Tide, Monese and Duedil. BBGI has topped up its investment in the A1/A6 road project in the Netherlands. The project was part of the Schiphol-Amsterdam-Almere expansion and involved the reconstruction and widening of a […]
In QuotedData’s other news 12 June 2019 – Picton Property Income plans to raise money via a placing of shares at 94.5p, a discount of 2.4% to the closing share price on 11 June 2019 and a premium of 1.9% to the last reported EPRA NAV as at 31 March 2019 of 92.7p. The money will be used […]
In QuotedData’s other news 11 June 2019: Shaftesbury says it has now been served with legal proceedings issued by companies controlled by Mr Samuel Tak Lee. The proceedings concern allegations and claims relating to the December 2017 placing of shares by Shaftesbury. They seek to challenge both the rationale for the placing and the way in which […]
In QuotedData’s other news 10 June 2019: JPMorgan European announced results for the year ended 31 March 2019 on Friday. The returns on the Growth (JETG) and Income (JETI) NAV were -2.3% and +1.4% respectively and, as discounts widened, shareholders saw returns of -7.9% and -4.9% respectively. The MSCI Europe ex UK index returned +2.2%. The dividend […]
Impact Healthcare REIT buys three care homes – Impact Healthcare REIT has recently exchanged contracts on three purchases for a total initial investment of GBP20.2 million, plus transaction costs. Once completed, these acquisitions, plus the acquisition of four homes from Maria Mallaband Countrywide Group announced on 2 May 2019 and rent increases achieved so far in […]
In QuotedData’s other news 7 June 2019: Impact Healthcare REIT (IHR) will join the FTSE EPRA/NAREIT global real estate index on Monday 24 June. Rupert Barclay, non-executive chairman of IHR, believes the inclusion will allow the company to increase its investor base and grow liquidity in the shares. The sub-investment grade focused debt investor, CVC Credit […]
Regional REIT to sell Tokenspire park for £11.1m – Regional REIT (RGL) has reached an agreement to sell Tokenspire Business Park in Beverley for £11.1m. The sale price is 30.6% higher than what RGL paid (£8.5m) and represents a net initial yield of 7%. Tokenspire covers more than 24 acres and consists of 322,211 sq. […]
Custodian REIT statement stresses benefits of diversification – Custodian REIT has published results for the year ended 31 March 2019. Highlights are: EPRA NAV of 107.1p down from 107.3p last year; dividend per share of 6.55p (2018: 6.45p), 110.4% covered by net recurring income; 2020 target dividend per share increased 1.5% to 6.65p; NAV per share total […]
In QuotedData’s other news 6 June 2019: Regional REIT has announced the sale of an office building in Sheffield at a price 25% higher than when it was last valued. Bought in 2016 for £6.3m, Aspect Court, Pond Hill, Sheffield was sold to Sheffield Hallam University for £8.8 million, reflecting a net initial yield of 6.6%. […]
In QuotedData’s other news 5 June 2019: RDI REIT has refinanced its London Serviced Office portfolio with a new GBP75.0 million financing facility provided by Aberdeen Standard Investments for a seven-year term. To be used to refinance two existing facilities maturing in December 2019 and August 2022 Value & Income NAV return for year ended 31 March […]
Workspace hikes dividend by 20% – Workspace Group has published results covering the year ended 31 March 2019. Over the year the EPRA NAV rose by 4.7% to 1086p and its adjusted diluted earnings per share rose to 40.6p from 36.8p. The dividend has been increased by 20% to 32.87p. Other highlights include: Net rental […]
NewRiver REIT sells foodstore for £17.9m – NewRiver REIT (NRR) has announced the sale of a 70,000 square foot Asda foodstore and petrol filling station to a private investor for £17.9m. Located at St Elli Shopping Centre, Llanelli (Wales), the sale represents a net initial yield of 6.9% and a 1% discount to its March […]
Ceiba trading statement reflects Trump bluster – One of the many fights that Trump is picking with the rest of the world is with Cuba, where a gradual warming of relations under Obama has turned decisively frosty. As announced on 29 May 2019, Ceiba’s NAV at 31 March 2019 was US$1.5073 (31 December 2018 audited NAV: […]
Germany office space operator Sirius Real Estate has excellent year – Sirius Real Estate (SRE) is a leading operator of business parks providing conventional and flexible workspaces around Germany. The company has this morning reported annual results covering the period to 31 March 2019. Fourth successive year of double-digit shareholder returns Like-for-like annualised rent roll […]
Tritax gets planning for Kettering logistics park – Tritax Big Box REIT says that outline planning consent has been obtained for up to 2.31 million sq ft of logistics space at Symmetry Park, Kettering. This represents the second new development from the db Symmetry strategic land portfolio acquired by Big Box in February this year. The […]
LondonMetric bids for A&J Mucklow – The boards of directors of LondonMetric and Mucklow have reached agreement on the terms of a recommended offer. LondonMetric will acquire the entire issued and to be issued ordinary share capital of Mucklow by means of a scheme of arrangement under Part 26 of the Companies Act. For each Mucklow […]
Ecofin Global Utilities and Infrastructure interims show an 8.5% return on NAV for the six months ended 31 March 2019. Dividends of 3.23p were declared and the discount has narrowed so that, on 20 May 2019, it stood at 11.3% (still wider than it would like). Hg Capital‘s share split – ten shares in exchange […]
NewRiver REIT results reflect retail downturn – NewRiver REIT has published results for the year ended 31 March 2019. Highlights: EPRA NAV per share fell to 261 pence (March 2018: 292 pence), impacted by portfolio valuation decline of -6.4% EPRA earnings per share fell to 16.6p from 18.6p. Ordinary dividend per share increased by 3% to […]
Picton Property Income wants to be larger – Picton Property Income has released results for the year ended 31 March 2019. Highlights are: Increase in net assets of 2.5%, to GBP499 million, or 93p per share Total return of 6.5% Increased EPRA earnings to GBP22.9 million, or 4.3p per share Paid dividends of GBP18.9 million, or […]
Developments beneficial for Great Portland – Great Portland Estates has announced results for the year ended 31 March 2019. Highlights are: EPRA NAV per share of 853 pence, up 1.0% over twelve months; net assets of GBP2,309.7 million EPRA earnings of GBP53.7 million, down 19.2% on 2018 following GBP348.9 million of asset sale EPRA EPS […]
Urban Logistics REIT has announced that it has sold a site located on Postley Road, Bedford for £9.2 million “realising a Total Property Return of 74%”. (The company defines total property return as capital growth plus net rental income plus sale profit expressed as a percentage of the purchase price. It says that it will […]
Regfional REIT mulls fundraise – In a very short announcement entitled “Growth Opportunities Under Consideration”, Regional REIT has said that it is “it is considering an equity fundraise to take advantage of its growing near-term pipeline of opportunities in the investment market. The funds would be deployed in line with its investment policy with a […]
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