The five REITs primed to be bought next Investing Real estate investment trusts (REITs) have been dropping like flies this year, as competitors increasingly pursue mergers to grow their size, and many have begun to speculate about which one might be next to go. The largest merger of the year was LXI REIT, which was bought out by Londonmetric Property at the start of [...]
Greencoat UK Wind hit by low power generation as share buybacks continue Investing The value of Greencoat UK Wind’s underlying assets dipped by 0.4 per cent across the quarter as power generation came in nine per cent below budget. “We suspect that many of the managers’ expectations have been optimistically biased,” said Stifel analyst Iain Scouller. “We think we will see a similar generation undershoot at many of [...]
GP landlord PHP brings in £2.7m of new rent Property Primary Health Properties (PHP) added £2.4m in rent over the last nine month, increasing its rental revenue by three per cent on an annualised basis. The GP landlord, which published its trading update ahead of a capital markets day today, had stronger growth in indexed leases in the UK and Ireland (4.5 per cent growth), [...]
Bellevue Healthcare hit by ‘surprise’ shareholder exodus October 15, 2024 The £670m Bellevue Healthcare trust has been plunged into turmoil today after more than a third of its shareholders said they wanted to pull their cash from the fund. As the fund launched its annual redemption scheme, which allows investors to cash out for the price of the trust’s underlying assets, some 36 per cent [...]
Literacy Capital swaps charity donations for private equity fees October 8, 2024 Private equity investment trust Literacy Capital is cutting down on its mission of paying out charitable donations, while upping the fee paid out to management. The only investment trust set up with a charitable objective, it has given £10m to literacy charities in the UK since it was created in 2017. Now, the trust will [...]
PRS REIT reveals ‘excellent’ results as strategic review looms October 8, 2024 PRS REIT has revealed a set of strong results as the trust gears up for a strategic review following a shareholder row. The real estate investment trust reported an 11 per cent uplift in the value of its underlying assets, as rental income on its private housing portfolio surged 12 per cent on a like-for-like [...]
3i Infrastructure set to exit stake in French green energy firm October 7, 2024 FTSE 250 investment trust 3i Infrastructure is poised to sell its stake in French independent green energy operator Valorem in a deal worth roughly €309m (£258m).
Are REITs on course for a recovery? October 1, 2024 Real estate investment trusts (REITs) have had a tough time over the past two years as central banks hiked interest rates and the property market was plunged into a downturn. Not a single one of the 33 REITs listed in London are currently trading at a premium, with the average share price is sitting on [...]
3i Group: Inside Britain’s biggest retailer you’ve probably never heard of September 24, 2024 £32.5bn investment trust, 3i Group, owns Britain’s biggest retailer: Action. You’ve likely never heard of Action, and that’s because it doesn’t actually operate in the UK, instead having close to 3,000 stores across 12 European countries like Germany, the Netherlands and France. The group is kind of like B&M: Selling items at a low cost, [...]
Meet the fund managers: Biotech investing under the microscope September 23, 2024 In this weekly series, investment reporter Elliot Gulliver-Needham sits down with a fund manager for a Q&A. This week, we’re hearing from Ailsa Craig, co-portfolio manager of International Biotechnology Trust. How does your fund stand out from others in the same market? While many companies in the biotechnology sector are proven, cash-generating businesses, those at [...]