In QuotedData’s morning briefing 2 December 2020: BlackRock Throgmorton (THRG) has published a circular and issued a notice of a general meeting meeting to be held on 18 December 2020. The trust has been very successful in issuing shares since the authority was last given to the board to do so at the company’s AGM […]
Custodian REIT posted a 6.3% drop in net asset value (NAV) in interim results today as the COVID-19 pandemic continued to impact its portfolio. The company reported a NAV per share of 95.2p (March 2020: 101.6p), after a 5.1% fall in the value of its property portfolio during the six months to the end of […]
Sirius buys Nuremberg business and industrial park – Sirius Real Estate has notarised the acquisition of a multi-tenanted business park in Nuremberg for a total acquisition cost of €13.7 million, reflecting an EPRA net initial yield of 7.1%. The purchase will be funded from existing cash resources, with completion expected in January 2021. Sirius is acquiring […]
Alternative Income REIT buys retail park – Alternative Income REIT has exchanged contracts to acquire the Droitwich Spa Retail Park for £4.75m, in an off market transaction. The price represents a discount to replacement cost and reflects a net initial yield of 7.95%. This is the first deal that the trust has done led by its […]
Invesco Income Growth plans merger with IP Select – The board of Invesco Income Growth Trust has agreed heads of terms with the board of Invesco Perpetual Select Trust for a merger. The scheme would be effected by way of a scheme of reconstruction under Section 110 of the Insolvency Act 1986 and a voluntary winding […]
In QuotedData’s morning briefing 1 December 2020: Polar Capital Global Financials says that George Barrow has been appointed as joint fund manager of the trust, alongside Nick Brind and John Yakas. George joined Polar Capital in September 2010 and has over 10 years’ experience analysing Europe, Asia and emerging markets. Prior to joining Polar Capital, he […]
New IPO – Intuitive Investments – Intuitive Investments Group, a closed-end investment company focussed on the life sciences sector, announces its intention to seek admission of the entire issued and to be issued ordinary share capital of the company to the AIM market of the London Stock Exchange, and a conditional placing of 37,500,000 new ordinary […]
Civitas Social Housing has posted a solid set of interim results in which most metrics saw positive moves. Its IFRS net asset value (NAV) per share nudged up slightly to 108.01p in the six months to the end of September (March 2020: 107.87p). The group’s property portfolio was valued at £898.5m, up 6.77% on last […]
Gresham House Energy Storage completes Wickham project – Gresham House Energy Storage Fund has completed its investment in the 50MW battery project located near Wickham Market, Suffolk. Wickham follows GRID’s recent acquisition of the Thurcroft project (pictured) and was acquired for a total enterprise value of £32.75m (plus up to £0.75m of deferred contingent consideration). Wickham is a battery-only site […]
Custodian REIT buys Derby industrial units – Custodian REIT has acquired four industrial units covering an aggregate 23,250 sq ft on Hilton Business Park, Derby, one mile from the A50 which connects the M1 and M6. The units are occupied by M P Bio Science, Shakespeare Pharma and Jangala Softplay with a weighted average unexpired term to […]
In QuotedData’s morning briefing 30 November 2020: The Renewables Infrastructure Group raised £200m from its placing last week, and plans to issue 160m shares. The issue was oversubscribed. Technically, it might still not happen as the issue was done on the expectation that shareholders approve the issue of these shares at an EGM to be held […]
QuotedData’s weekly news show 27 November 2020 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: Schroder British Opportunities IPO Nippon Active Value’s plan to bid for a company CC Japan’s plan to issue […]
It is that time of year again – Black Friday. The US export has quickly become one of the biggest shopping days in the UK. But with shops closed due to lockdown, it will almost entirely take place online this year. It is estimated that £6bn will be spent on Black Friday this year versus […]
Thanks to everyone that tuned into the ‘E’ for environmental day of our ESG conference this week. If you missed it, you can listen back to presentations by the AIC, Bluefield Solar, SDCL Energy Efficiency and Jupiter Green here. Next Tuesday it is the turn of ‘S’ for Social. The line-up for the social day […]
Invesco Enhanced Income (IPE) has announced its annual results for the year ended 30 September 2020, during which the board has prioritised revenue generation through investment in relatively high-yielding and considered debt positions, reflecting its view that In the current economic and market environment, shareholders place great value on IPE’s consistent dividend stream. During the […]
In QuotedData’s morning briefing 27 November 2020: HarbourVest Global Private Equity (HVPE) has announced its interim results for the six-months ended 31 July 2020. During the period, HVPE’s NAV per share increased by 2.2% to $28.18 (31 January 2020: $27.58), which the company says is an outperformance of FTSE All World Total Return Index of 2.3% […]
NewRiver REIT reported another drop in the value of its portfolio but said it intends to pay a full year dividend in 2021. The group saw its EPRA net tangible assets (NTA) per share drop from 201p in March to 171p in September, mainly due to an 8.2% valuation decline in its portfolio to £1,058m. Pre-tax […]
LXi buys store portfolio – LXi REIT reports the acquisition of 11 foodstores and two discount stores from five different vendors/developers for a total cost of £61m. The stores have been acquired at an average net initial yield of 5.7% (net of acquisition costs) and with a strong and diversified tenant base in the form of Aldi, […]
CC Japan plans subscription share issue – CC Japan Income & Growth Trust says that it is considering a bonus issue of subscription shares to existing shareholders, on the basis of one Subscription Share for every five ordinary shares held. The company intends to publish a prospectus and circular in connection with the bonus issue in […]
Aberdeen Standard Equity Income hit hard by COVID – Aberdeen Standard Equity Income reports an NAV return of -25.7% for the year ended 30 September 2020 and a share price return of -29.4%. These compare to a return on the All-Share of -16.6%. Revenue per share fell from 21.7p to 15.6p (dividends distributed by companies in […]
BMO Capital and Income Investment Trust has announced results for the year ended 30 September 2020. It underperformed its benchmark by 4.4% (NAV return of -21.0% versus -16.6% for the All-Share Index). The return to shareholders was -20.3%. The dividend has been increased by 0.9% to 11.5p, extending an broken chain of annual dividend increases to […]
Nippon Active Value targets Sakai Ovex – Nippon Active Value Fund owns a 5%+ stake in Sakai Ovex (no. 3408, listed on the first section of the Tokyo Stock Exchange). Today, the fund’s manager (Rising Sun Management) has sent a proposal to Sakai Ovex Co proposing that its board consider a management buyout of the whole company. This […]
In QuotedData’s morning briefing 26 November 2020: JLEN Environmental Assets Group’s half year results show a small drop in NAV from 97.5p to 96.1p, driven by falling power and gas price estimates. Dividends are on target, however and these are covered by cash generated from operations. Montanaro UK Smaller’s interim results show it lagging its Numis […]
London office developer and landlord Helical has posted a 3.2% fall in net asset value (NAV) for the six months to the end of September. NAV for the half-year came in at £579.2m, compared to £598.7m at the end of March, with EPRA net tangible asset per share down 3.6% to 505p (March 2020: 524p). […]
In QuotedData’s morning briefing 25 November 2020: Gresham House Energy Storage has successfully raised gross proceeds of £120m through the issue of 114,285,714 shares at 105p. The issue was oversubscribed. The money will enable the company to finance up to six new near-term acquisitions totalling 245MW. RDL Realisation says that it intends for the company to become […]
Countrywide shareholders opposed to Alchemy fundraise – On 22 October 2020, Countrywide announced a proposed recapitalisation that included an equity raising of approximately £90m fully underwritten by Alchemy Partners. However, discussions with shareholders have indicated insufficient support for this proposal in its current form, but also a recognition of the need for new capital and a […]
Troy Income confirms dividend cut – Troy Income & Growth Trust says that for the year to 30 September 2020 its NAV return was -9.1% and its share price return -11.6%. At the start of the period the shares were standing at a premium to NAV of +1.1%. A year later the share price had moved to a […]
In QuotedData’s morning briefing 24 November 2020: Gore Street Energy Storage says its Drumkee project, a 50MW installed capacity project located in Northern Ireland, has been energised on schedule. Drumkee is now the largest energy storage project in Ireland. Mullavilly, Gore Street’s second 50MW Northern Irish project, is expected to be energised in December. Both Drumkee and […]
LXI REIT has reported a 2.9% fall in EPRA net tangible assets (NTA) in half-year results, as the value of its hotel and leisure portfolio took a hit during the pandemic. The company, which specialises in inflation-protected long income real estate, posted an EPRA NTA of 120.8p at 30 September 2020, compared to 124.3p at […]
Sirius Real Estate, the operator of business parks in Germany, has posted a 5% increase in net asset value (NAV) in half-year results to the end of September. The growth in NAV per share to 81.18c (March 2020: 77.35c) was mainly driven by a 4.3% uptick in the value of its portfolio to €1,229.7m. Sirius […]
