News

Capital Gearing (CGT) has published its annual results for the year ended 31 March 2024, during which it provided an NAV total of 1.8%, which its chairman, Jean Matterson describes as far from satisfactory when compared to the rise in the consumer price index (CPI) of 3.2%. The share price total return over the period […]

In QuotedData’s morning briefing 24 May 2024: JPMorgan Emerging EMEA Securities (JEMA) has announced that further to its announcement on 25 April 2024 that it has been named as a defendant to civil proceedings being brought by VTB in the Russian courts, which were commenced on 17 April 2024 (click here to see our coverage […]

A compelling outlook for real estate has resulted in Helical’s board concluding its strategic review into the company with a three-year blueprint for growth. Led by chairman Richard Cotton, a comprehensive business review found that the company’s “exciting pipeline of committed developments, which due to the quality of the schemes and anticipated supply shortages, are well […]

London office developer Great Portland Estates (GPE) has launched a fully underwritten 3 for 5 Rights Issue to raise £350m (£336m net of expenses) through the issue of 152 million new shares at a price of 230 pence. The issue price represents a 44.5% discount to the closing price of 414.6 pence on 22 May […]

NewRiver REIT is weighing up a bid for shopping centre landlord Capital & Regional. In a stock market release this morning, Capital & Regional revealed that it was aware that its majority shareholder Growthpoint Properties (which holds 68.13% of the company’s issued share capital) had received a preliminary expression of interest from NewRiver REIT in […]

Picton Property has reported solid earnings growth in full year results that support a 5.7% uplift in its annual dividend. The company posted a 2% increase in EPRA earnings to 4p per share in the year to 31 March 2024, which covered its annual dividend of 3.5p – which has now been increased to 3.7p. […]

Over the 12 months ended 31 March 2024, Shires Income generated an NAV return of 5.1% and a share price return of -5.5% (as the discount widened to 13.3%), both behind the 8.4% return delivered by the company’s All-Share Index benchmark. The chairman suggests that “the performance for the year is in line with what […]

Over the 12 months ended 31 March 2024, Scottish Mortgage returned 11.5% in NAV terms and 32.5% in share price terms, driven by a narrowing discount. It says that these figures compare to a 21.0% return on the FTSE All-World Index. The main driver of the narrowing discount from 19.6% to 4.5% was the announcement […]

In QuotedData’s morning briefing 23 May 2024: Blackstone Loan Financing (BGLF) will hand back €23m to its shareholders by way of a compulsory partial redemption of up to 24,779,142 shares on 10 June 2024. On this basis, a holder of 10,000 shares will have 559 shares redeemed, and receive €518.86 in cash. Crystal Amber (CRS) […]

Odyssean Investment Trust (OIT) was launched on 1 May 2018. At the time, the board said it would offer shareholders the opportunity to cash in their investment at NAV (less costs) during the trust’s seventh year and every seventh year thereafter. The exact timing of the realisation is up to the board (in consultation with […]

British Land has posted a robust set of annual results during one of the most turbulent periods, with EPRA net tangible assets (NTA) falling 4.4% to 562p in the year to 31 March 2024. The value of its portfolio was down 2.6% to £8,684m, and down just 0.2% in the second half of the year, […]

HICL Infrastructure (HICL) has announced its annual results for the year ended 31 March 2023. The company delivered a total shareholder return of 1% for the year with an increasing discount rate offsetting steady earnings growth. Despite the middling returns, the company did highlight a number of positive updates for the year, noting the significant […]

STS Global Income & Growth Trust (STS) announced its annual report for the year ended 31 March 2024. The NAV total return for the year was +4.8%, and the share price total return was +6.1%, compared to a total return of +11.5% in the Lipper Global – Equity Global Income Index. This compares to a […]

In QuotedData’s morning briefing 22 May 2024: Impact Healthcare REIT (IHR) posted a 1.7% increase in NAV per share to 117.31p in the quarter to 31 March 2024. The value of its portfolio of care homes was up 1.5% to £660.8m, with contracted annual passing rent up 4% to £50.1m. Rent cover among its tenants […]

Gore Street Energy Storage Fund (GSF) announced a trading update for the 12 months ended 31 March 2024. The announcement highlighted the ongoing revenue growth of the portfolio, which was up 5% over the period while EBITDA increased by 2%. The company also noted that it raised capital via both equity and debt, enabling continued […]

The Asia Dragon Trust (DGN) announced a strategic review. This follows the recent proposal to combine with Ashoka WhiteOak Emerging Markets (AWEM) which was announced on 7 May 2024. Background to the strategic review In July 2023, the company announced a proposed combination with abrdn New Dawn Investment Trust to create an enlarged company with […]

Assura Group, the healthcare property investor, has entered a £250m joint venture with Universities Superannuation Scheme (USS) to invest in NHS infrastructure. The JV (which is split 80:20 in favour of USS – the principal pension scheme for universities and higher education institutions in the UK) will be seeded with an initial portfolio of seven […]

In QuotedData’s morning briefing 21 May 2024: Schroder AsiaPacific Fund (SDP) announced its interim report for the six months to 31 March 2024. Over the period, the company’s NAV per share total return was 5.7%, slightly ahead of the 5.3% total return from the benchmark. The share price produced a total return of 4.4% over […]

abrdn European Logistics Income (ASLI) has announced that it will undergo a managed wind down. Ahead of a continuation vote this year, the board launched the strategic review into the future of the company in November 2023, with the fund suffering from a wide discount to NAV and a materially uncovered dividend. The company received […]

Tufton Oceanic Assets (SHIP) has provided more details on the proposed actions to be taken as a result of its strategic review, the results of which were initially announced on 17 January 2024. The board will propose an amended investment policy, which will ease SHIP’s current investment restrictions, as the current policy prevents making new […]

British Land has exchanged contracts to sell its 50% stake in the Meadowhall Shopping Centre to its joint venture partner Norges Bank Investment Management for £360m. The sale was in line with the company’s strategy to focus on retail parks and reduce exposure to shopping centres. The sales price, which values the whole site (including […]

In QuotedData’s morning briefing 20 May 2024: HarbourVest Global Private Equity (HVPE) reported its monthly NAV for April 2024. HPVE has an estimated NAV per share of $50.47 (£40.40), a decrease of 0.4% in US dollar terms over the previous month. HPVE invested $55m into HarbourVest funds over April, as part of its $2.3bn investment […]

Why an actively run portfolio of Japan small cap stocks could be a big winner over the coming years Japan is the third largest economy in the world, yet its declining weight in global indices and previous false dawns have put it out of focus for investors. While enthusiasm for Japanese equities grew in 2023, […]

Land Securities reported an 8.2% reduction in EPRA net tangible assets (NTA) per share to 859p in annual results to 31 March 2024, as the impact of higher interest rates weighed on property valuations. The group’s portfolio fell 6.0% in the year, which was weighted to the first half of the year. The company said […]