Real Estate News
This sector includes mortgage companies, property management companies and REITs
This sector includes mortgage companies, property management companies and REITs
It was announced today that UK retail sales fell almost 20% in April as strict lockdown measures took hold. In the clothing retail sector, the impact of lockdown was even bleaker. Sales volumes plummeted over 50% when compared to March, which had already fallen by 34.9% on the previous month. With lockdown measures gradually being […]
In QuotedData’s morning briefing 22 May 2020 DP Aircraft has ended up with a 5.02% stake in Norwegian Air Shuttle as part of a debt for equity swap. It could sell some of this in August and October but the whole holding can be sold in December. River and Mercantile UK Micro Cap (RMMC) has released […]
Regional REIT has now collected 93.9% of rent for the current quarter, it announced in a trading update. The group, which owns office and industrial assets in regional UK cities, said the figure was ahead of that collected at the same point last year (92.7%). It said it will pay a dividend of 1.90 pence […]
Assura has reported strong full year results in which net asset value (NAV) increased 1.1%. The company, which owns a portfolio of 576 GP surgeries and medical centres, posted a diluted EPRA NAV per share of 53.9p. The group’s portfolio jumped in value by 8.1% in the year to £2.14bn due to acquisitions. On a […]
In QuotedData’s morning briefing 21 May 2020, as the UK government issues three-year debt with a negative yield: Electra NAV dives to 373p from 548p, hit by fall in value of Hotter Shoes and TGI Fridays. Hotter Shoes is looking to “right size the retail estate” – shut shops – once the lockdown eases. TGI Fridays […]
Great Portland Estates has posted a 1.8% rise in net asset value (NAV) in full year results to the end of March 2020. The central London office developer reported an EPRA NAV per share of 868p. Its portfolio valuation was stable, with a slight decrease of 0.3% to £2,624.1m. The increase in NAV was due to […]
Great Portland Estates (GPOR) has secured a 40,000 sq ft pre-let at its office development on Oxford Street. The deal is a significant boost to the central London office market as fears around a drop off in demand for office space mount amid the coronavirus crisis. GPOR has signed up Exane BNP Paribas, which will […]
Rolls-Royce says it will shed 9,000 jobs in response to the covid-19 crisis – it expects any recovery in the airline industry to take several years (click here to read more). JPMorgan Asia Growth & Income (JAGI) reported interim results to end-March with the total market return coming in at (6.6%) compared with (9.3%) for the […]
In QuotedData’s morning briefing 19 May 2020 The Renewables Infrastructure Group is planning a fundraise through an issue of shares at 120p (a 5.8% discount to the share price and a 4.3% premium to NAV – more if you adjust for the 5p per share hit from power price falls discussed on 22 April). As usual, […]
LXi REIT has reported an 8.5% jump in net asset value (NAV) in full year results. The company, which owns a portfolio of inflation-protected very long income assets, saw NAV per share rise to 124.3p at the end of March 2020, compared to 114.6p last year. The jump is mainly attributable to acquisitions over the year […]
Alternative Income REIT (AIRE) has appointed M7 Real Estate as its new investment adviser. AIRE, which owns a diverse portfolio of 19 UK commercial property assets let on long leases, has made the appointment after the previous manager departed in February. M7, which is a leading specialist in the pan-European, regional, multi-let real estate market, will undertake a […]
In a trading update, ahead of its annual results (to be published on or around 15 June), Jonathan Maxwell, the CEO of SDCL Energy Efficiency Income (SEIT)’s manager, noted: “In spite of the unprecedented global situation around covid-19, the portfolio continues to perform in line with expectations and deliver cheaper, cleaner and more reliable energy […]
The dispute between Travelodge and its landlords took another turn this week with the budget hotel operator threatening to pursue a company voluntary arrangement (CVA) if rent cuts of up to 80% for 18 months was not agreed. In a letter sent to landlords, Travelodge said it had already lost the equivalent of several months […]
Sirius Real Estate has reaffirmed its dividend policy after reporting high levels of rent collection in April as lockdown measures in Germany ease. The company, which owns a portfolio of business parks in Germany, said it received 98.8% of normal levels of rent and service charge for April and no significant reduction in the first two […]
In QuotedData’s morning briefing 14 May 2020: Symphony International has reported a 38.4% fall in NAV to 60.4 cents over the first quarter of 2020. It sold the remainder of its stake in IHH Healthcare, freeing up $4.6m, got $7.5m in from its sale of land in Niseko (the Japanese ski resort) and, over 2020, sold […]
Standard Life Investments Property Income Trust (SLI) has reported a 7.5% fall in net asset value (NAV) in the quarter to the end of March as the impact of covid-19 bites. The company, which owns a diverse portfolio of commercial properties in the UK, said NAV per share was 83.2p compared to 89.9p on 31 […]
In QuotedData’s morning briefing 12 May 2020: Gore Street Energy Storage says that construction work on its two 50MW battery projects in Northern Ireland has restarted (subject to social distancing measures). Construction is scheduled to be completed in December 2020, allowing sufficient time to complete necessary asset testing before the assets go online. the DS3 contracts […]
Primary Health Properties (PHP), has acquired a portfolio of 20 purpose-built medical centres for £47.1m. The company, which owns a portfolio of primary healthcare facilities, has also conditionally contracted to acquire a further two medical centres for £6.9m. The acquired properties are leased to GP practices, other NHS healthcare operators and pharmacies, with around 91% […]
Phoenix Spree Deutschland (PSDL), which specialises in German residential real estate, has released an update. To date, the impact on rent collection has been limited. In the month to 30 April 2020, PSDL said that 98% of rent due had been collected in total compared to 99% in January 2020. Germany begins to ease restrictions On […]
Civitas Social Housing (CSH) has released a trading and market update, covering the quarterly period to 31 March 2020. Performance was in line with expectations, with the company saying that it has so far not been adversely impacted by covid-19. In the statement, it was noted: “The board believes that the company operates a robust […]
Lockdowns are beginning to ease across Europe. Along with this, news over the weekend that China would lower real lending rates, has pushed stocks higher this morning. In a quarterly update to 31 March, private equity sector company, HgCapital Trust (HGT), delivered a total NAV return of (6.2%). In it’s outlook statement, HGT noted: “We […]
In the past couple of weeks we have seen two big over-subscribed capital raises by property companies that have caught many by surprise. First Supermarket Income REIT almost doubled its £75m target, raising £139.8m. And this week LondonMetric, the logistics focused company, exceeded its £100m target, raising £120m. It has caught many by surprise because […]
Impact Healthcare REIT has posted a slight uplift in net asset value (NAV) for the first quarter of 2020. The group, which owns a portfolio of UK healthcare real estate assets, reported a NAV of 106.98p per share, up from 106.81p at the end of December 2019. It also declared a dividend for the first quarter […]
In QuotedData’s morning briefing 7 May 2020. As IAG (parent company of British Airways) says it does not expect to see 2019’s level of passenger demand for flights again until 2023 and BT suspends its dividend for the previous and current financial year – dealing another blow to UK equity income investors: Origo Partners says that […]
Empiric Student Property has said it expects a reduction of income for the current academic year of up to 12% or £8m, in a trading update this morning. The loss of income from students being released from their rent obligations for the summer semester is below the company’s worst-case scenario of a £21m reduction in income. […]
UK Commercial Property REIT has reported a 3.9% fall in net asset value (NAV) for the quarter to the end of March. NAV per share at the group, which owns a diverse portfolio of UK real estate, was 86.3p at 31 March 2020, compared to 89.8p at the end of December 2019. The fall was […]
Fidelity European Values (FEV) has delayed changing its name to Fidelity European Trust, which was expected to be completed in time to be effective from 12 May. FEV noted: “The impact of covid-19, and the resultant Government’s stay at home measures, have caused substantial and significant delays as well as disruption to the usual statutory […]
Regional REIT has provided an update on rent collection stating it had collected 92.8%. The group, which owns a diverse portfolio of office and industrial property assets in the UK, said the 92.8% of rent collected compares favourably with 91.6% rent collection at the same date in 2019. The collection rate, as at 1 May 2020, […]
Stenprop, the UK industrial property focused company, has provided a first quarter trading update, adding that it had now collected 81% of rent for the current quarter. In the first quarter the group completed 28 new lettings and 25 lease renewals, totalling 186,513 sq ft and generating £1.03m per annum of contractual rental income. It […]
LondonMetric has announced plans to raise £100m through a placing to take advantage of investment opportunities during the covid-19 pandemic. The company, which owns a portfolio of logistics assets in the UK, said it would use the proceeds to buy an identified pipeline of long income, urban logistics properties. The acquisitions it has lined up […]