European Opportunities (EOT) has released its interim results for the half year ended 30 November 2023. Selected highlights as follows: EOT generated a NAV total return of 4.3% over the period and a share price total return of 7.7%. Both of these represent an outperformance relative to EOT’s benchmark, the MSCI Europe Index, which returned […]
Greencoat UK Wind (UKW) has released its results for its financial year ending 31 December 2023. UKW’s NAV fell slightly from £3.9bn to £3.8bn, equal to a fall from 167.1p to 164.1p on a per share basis. UKW’s share price also fell over the period, from 152p to 151.5p, finishing the year with a market […]
Riverstone Energy (RSE) has released its annual results for the 12 month period ending 31 December 2023. Over the 12 month period RSE reported a NAV return of 9.9%, with a total NAV of £529m, equal to a NAV per share of £12.53. It also reported a share price return of 18.1%. 8.7m shares were […]
In QuotedData’s morning briefing 29 February 2024: NextEnergy Solar Fund (NESF) has provided a quarterly NAV and operational update for the three months ending 31 December 2023. As of the year end, its NAV per share was 107.7p, equal to a total NAV of £636.4m. This represented a fall in NAV over the three months, […]
Shaftesbury Capital has reported solid results for the year to 31 December 2023, as leasing activity picked up and valuations declines were muted. The company transacted 526 leasing deals, representing £37.0m of rent, 10.0% ahead of estimated rental value (ERV). Annualised gross income increased 10.4% on a like-for-like basis to £192.8m. The portfolio ERV grew 6.9% […]
Retail property landlord Hammerson reported a record year of leasing, which contributed to an 11% uplift in adjusted earnings in annual results to 31 December 2023. The group completed 306 lettings, which generated £46m of headline rent up 23% on a like-for-like basis. Permanent deals signed were 37% above the previous passing rent and 12% above […]
Although spot power prices have softened recently and despite irradiation levels some 13% below those experienced in the second half of the prior year, Bluefield Solar Income Fund’s (BSIF’s) interim results for the six months to 31 December 2023 are strong with BSIF benefiting from its adviser’s strategy of fixing prices up to 36 months […]
Further to the announcement made on 29 January 2024, the board of Digital 9 Infrastructure (DGI9) has provided greater clarity around how it foresees its wind down taking shape, and has proposed a change of investment objective and policy to facilitate this. A change which shareholders will be able to vote on in the forthcoming […]
Primary Health Properties has reported a 4.1% fall in EPRA net tangible assets (NTA) to 108.0p in annual results to 31 December 2023, however, earnings were up 3.0% to 6.8p per share. [QD comment: This value decline, earnings growth dynamic typifies the state of play in the real estate sector and we expect it will be […]
SEGRO has raised £907m in a placing of shares – a real vote of confidence in the real estate behemoth, its growth plans and the logistics sector. The company increased the size of the raise from around £800m to £900m due to demand. It also raised £7m from retail investors via the PrimaryBid platform. I […]
The Renewables Infrastructure Group (TRIG) has announced its annual results for the year ended 31 December 2023, which marks ten years since the company’s launch in 2013. Richard Morse, the company’s chairman, says that the underlying performance is strong, cash generation has never been healthier and the managers have been working hard to create additional […]
HICL Infrastructure (HICL) has announced that it has disposed of Northwest Parkway and the launch of £50m share buyback programme. Underpinning the validity of its NAV, the net proceeds of the sale of Northwest Parkway to VINCU Highways SAS, of around US$232m, represents a circa 30% premium to HICL’s most recent valuation (30 September 2023). […]
Harmony Energy Income Trust (HEIT) has announced its annual results for the year ended 31 October 2023. HEIT says that this period saw significant delivery and achievement of its goals and other targets set out at IPO, particularly in relation to delivery of projects through construction and commencing operations, but conditions in the energy storage […]
Apax Global Alpha (AGA) has announced that the Apax Global Impact Fund (AGI), in which AGA is a limited partner, has agreed to acquire a controlling stake in Integrated Environmental Solutions, which AGA describes as a leader in providing software to optimise a building’s energy use. AGA is investing approximately €5.1m on a look-through basis. […]
Volta Finance (VTA) has agreed an alteration of the fee structure with its investment manager, AXA Investment Managers Paris as part of an amended and restated investment management agreement that takes effect from 31 March 2024. Under the revised arrangements, the manager will be entitled to receive a management fee equal to the aggregate of: […]
JPMorgan European Discovery Trust (JEDT) has announced that Jon Ingram, Jack Featherby and Jules Bloch will be appointed as named Portfolio Managers with effect from 1 March 2024, replacing Francesco Conte and Edward Greaves. The team change follows an internal review of the portfolio management team and its investment process, which was led by the […]
In QuotedData’s morning briefing 28 February 2024: Grit Real Estate Income Group (GR1T) has reported a 6.4% fall in EPRA net reinstatement value (NRV) to $68.1 cents per share in the six months to 31 December 2023. This was predominantly driven by a 2.7% fall in the value of its portfolio. Net operating income increased […]
Student accommodation specialist Unite Group reported record earnings in results for the year to 31 December 2023, as the supply and demand dynamics in the real estate sub-sector continues to benefit the company. The company posted an 8% uplift in adjusted earnings per share to 44.3p (2022: 40.9p). This was influenced by practically full occupancy […]
Law Debenture (LWDB) has published its annual results for the year ended 31 December 2023 during which it provided an NAV total return with debt and the Independent Professional Services (IPS) business at fair value of 9.4% (8.9% with debt at par), which LWDB says outperformed its All-Share Index that returned 7.9%. LWDB’s share price […]
In QuotedData’s morning briefing 27 February 2024: Alternative Income REIT (AIRE) reported a 3% fall in net asset value (NAV) to 81.62p per share in the six months to 31 December 2023, following a 3.5% drop in the value of its portfolio to £103.3m. Adjusted earnings per share for the period were down 11.6% to […]
We at QuotedData express our condolences to the family, friends and colleagues of Lord Jacob Rothschild, whose passing has just been announced by his family. The family has said “Our father Jacob was a towering presence in many people’s lives, a superbly accomplished financier, a champion of the arts and culture, a devoted public servant, […]
In QuotedData’s morning briefing 26 February 2024: Hipgnosis Songs Fund (SONG) has confirmed that following its previous announcement on 19 February, Mr Mercuriadis and the Investment Adviser have refused to indemnify the trust against liabilities which may arise from his alleged misconduct. SONG now intends to bring a Part 20 Claim in the High Court […]
In Alliance Trust’s new series of stock spotlight videos, Veritas’ Andy Headly focuses on Airbus and talks about the qualities that make it so attractive compared to its closest competitor. Filmed in December 2023.
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, Richard Williams covered the week’s top stories: • Hipgnosis Songs • JPMorgan Global Growth and Income • Urban Logistics / abrdn Property Income This week’s interview was with Gurpreet Gujral from Atrato Onsite Energy […]
Consolidation is in vogue in the investment trust space right now and nowhere is this more prominent than in the real estate sector, where it seems not a week goes by when another merger bid is made. This week’s latest proposal saw Urban Logistics REIT (SHED) table a surprise offer for abrdn Property Income Trust […]
In QuotedData’s morning briefing 23 February 2023: Riverstone Energy (RSE) has announced a tender offer for up to 15,047,619 of its ordinary shares, representing 35.66% of the existing shares in issue, to be purchased at a price of £10.50 per share. This price represents a premium of c.14% to the closing market price of £9.20 […]
Herald Investment Trust (HRI) has released its annual results for the 12 month period ending 31 December 2023. Over the year HRI generated a NAV total return of 5.7%, compared to the 3.2% Numis Smaller Companies plus AIM (ex. investment companies) Index and the 21.0% Russell 2000® Technology Index (in sterling terms). A major factor […]
Pantheon International (PIN) has released its half year report, for the six months ending 30 November 2023. PIN’s NAV increased by 3.1% over the 6 months, driven by valuation gains in the portfolio, however it was negatively impacted by adverse currency movements. The largest driver of returns came from PIN’s investment in fund secondaries. The […]
In QuotedData’s morning briefing 22 February 2024: Both abrdn Property Income Trust (API) and Custodian Property Income REIT (CREI) have adjourned their shareholder meetings to vote on the merger offer from CREI due to this week’s indicative offer for API by Urban Logistics REIT (SHED). API’s board said that it was assessing the possible offer […]
Riverstone Credit Opportunities (RCOI) reported its results for the 12 months ending 31 December 2023. Over the 12 months RCOI reported a NAV total return of 6.4%, having returned 40.1% since its inception. Revenue generation was “strong” over the year, with a reported profit of $5.7m, and a proposed total dividend of 8.5 cents per […]
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