Prices and Markets

GCP Student Living says returns on target - GCP Student Living has published results for the year ended 30 June 2017. The highlights are: Total revenue for the year of £28.6 million. Annualised shareholder returns since IPO of 14.2%, in excess of the target return of 8-10%. Successfully raised £103.6 million through two oversubscribed placings of ordinary shares. Dividends of 5.75 pence per ordinary share for the period in line with target and up 1.6% on the previous year. EPRA...

QuotedData’s economic round up – September 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored by Martin Currie. September Economic and Political Roundup Roundup As tension rose on the Korean peninsula, gold rallied...

Blue Capital Alternative statement on Irma - "On 10 September 2017, Hurricane Irma made initial U.S. landfall near the Florida Keys, Florida as a major hurricane followed by substantial rainfall and flooding.   The Investment Manager has now commenced its normal post-event procedures to estimate any loss to the Company from Hurricane Irma. The Investment Manager's loss estimates will be largely derived from the utilization of proprietary catastrophe modeling, standard industry models, an in-depth review of in-force contracts or initial indications...

QuotedData is publishing a new update note on a company in the Flexible Investment sector. Seneca Global Income & Growth - Steady reduction in equity exposure Over the past year, Seneca Global Income & Growth (SIGT) has delivered returns well in excess of its new benchmark (see page 2), further enhancing its strong track record. SIGT’s manager believes we may be due to enter a bear market in 2019, ahead of a slowing global economy in 2020. Given this, it...

Crystal Amber lays out case for its portfolio after bumper year - Crystal Amber's NAV increased by 32.9% over the year to the end of June 2017. They declared interim dividends of 2.5 pence in both July 2016 and December 2016, in line with the dividend policy of 5.0 pence per year. Including the dividends paid during the period, the NAV total return per share over the year ended 30 June 2017 was 36.1%. Successful exits from investments in Grainger, Pinewood Group and...

LXi REIT buys another supported living portfolio - LXi REIT has exchanged contracts on the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located across England. The purchase price is GBP12.9 million, reflecting a net initial yield of 6.0% (net of acquisition costs). Each property is immediately income producing and has been let on a new 25-year lease, with no tenant break, to a specialist Registered Provider of social housing. The Registered Provider is regulated by the...

Since its launch in March 2014, John Laing Environmental Assets Group (JLEN) has built up a diverse portfolio of wind, solar, anaerobic digestion, waste and wastewater projects. It uses most of the revenue from these to pay its dividends (currently a yield of 5.9%) and the balance goes to reinvest in new projects, to help maintain the long-term value of the portfolio when adjusted for inflation. JLEN is targeting an internal rate of return between 7.5% and 8.5% (net of...

Custodian REIT buys Plymouth warehouse - Custodian REIT has acquired a 35,000 sq ft retail warehouse on Transit Way Retail Park, Plymouth, near the A38 Devon Expressway. The site comprises two units occupied by Magnet and B&M, with nearby retailers including Argos, Tesco, Lidl and Matalan. The units' leases expire on 26 January 2027 and 20 August 2027 respectively with a total passing rent of GBP400,000 per annum, reflecting a net initial yield of 6.79%. The agreed purchase price of...

Travelodge, Salvation Army and Wet'n'Wild for AEW Long Lease - AEW UK Long Lease REIT has announced the acquisition of a hotel and retail unit on Princes Street, Swindon for GBP6.3m. The 35,000 sq ft property, which comprises a Travelodge hotel and Salvation Army centre, provides a weighted average unexpired lease term of 23 years, with a net initial yield of 5.5%. The lease to Travelodge delivers 95% of the income received from the asset and provides the company with...