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Commercial property investors have experienced a wildly volatile few months and the outlook is still extremely uncertain too, thanks to the government response to the coronavirus outbreak. Many investment companies have cut or cancelled their dividends; and the pace and scope of the lockdown lifting will affect how quickly and to what extent their rental income recovers. As a result, they sit on wide discounts to NAV. On the other hand, other areas of the property market have seen limited or no
Companies: BREI BBOX SHED
A number of REITs have the ability to thrive in current market conditions and thereafter. Not only do they hold assets that will remain in strong demand, but they have focus and transparency. The leases and underlying rents are structured in a manner to provide long visibility, growth and security. Hardman & Co defined an investment universe of REITs that we considered provided security and “safer harbours”. We introduced this universe with our report published in March 2019: “Secure income” REI
Companies: AGR CSH ESP DIGS IHR LXI PHP RESI SIR SUPR THRL SOHO BBOX SHED WHR
In the financial markets, the biggest winners from the crisis so far have – without a doubt – been the technology sectors. Software, hardware, ecommerce and related sectors have outperformed in the immediate aftermath (as we discussed in a recent strategy note). They also seem likely to benefit from some of the likely long-lasting changes to society that the crisis will forge. This is the latest episode in a long period of outperformance. Looking back over the past decade, technology-related com
Companies: PCT ATT JFJ MWY SMT MNL BBOX
Tritax Big Box REIT (BBOX) invests primarily in the large-scale sites at the centre of modern distribution and logistics networks – so-called ‘big boxes’ or ‘mega boxes’. These are crucial to online-only retailers and to the distribution networks of those multichannel retailers operating nationally or internationally. The largest single tenant is Amazon, responsible for 13% of the company’s rental income, and the second largest is Ocado. Manufacturers, wholesalers and courier services are major
Companies: Tritax Big Box REIT Plc
The industrial and logistics sector has been on a tremendous run over the past five years or so. It is hard to think now, given the current dynamics in the property industry, that retail and offices were the sectors of choice for investors for many years with industrial cast aside by most.
Companies: ASLI LMP SGRO SMP BBOX EBOX SHED WHR
Fundraising showed signs of picking up this month, and the focus was very much on the renewables sector. First of all there was Renewables Infrastructure Group, which launched a placing programme and an initial fundraising early in the month, targeting up to £170m. It ended up raising just over £300m, having received applications for nearly three times as many shares as were originally available, in an upsized and scaled back issuance. Greencoat Renewables also announced and completed a placing
Companies: TRIG BBOX UKW GRP ALF ELTA ESP FA17 BCPT BREI HTCF CHRY UKCM
TRIG – Renewables Infrastructure Group – February 2019 NAV and asset | BBOX – Tritax Big Box – Finals to 31 December 2018 | SIR – Secure Income REIT – Finals to 31 December 2018 | FSFL – Foresight Solar – Finals to 31 December 2018
Companies: TRIG BBOX SIR FSFL
CAT – CATCo Reinsurance Opportunities – Portfolio update | BBOX – Tritax Big Box – Completion of acquisition
BBOX – Tritax Big Box – Results of fundraising | NESF* – NextEnergy Solar – Partnership with Zestec | MXF – Medicx – Q4 2018 NAV, trading update and dividend
Companies: BBOX NESF MXF
Tritax Big Box – Acquisition and fundraising | AEW UK - Q4 2018 NAV and dividend
Companies: Tritax Big Box REIT Plc (BBOX:LON)AEW UK REIT PLC (AEWU:LON)
BBOX - Tritax Big Box - Trading update to 31 December 2018 | AEWL - AEW UK Long Lease - Acquisition and debt facility
Companies: Tritax Big Box REIT Plc (BBOX:LON)Alternative Income REIT Plc (AIRE:LON)
BBOX - Tritax Big Box – Proposed changes to investment policy | THRL - Target Healthcare – Acquisitions | APAX - Apax Global Alpha – Q3 2018 NAV and revolving credit facility
Companies: BBOX APAX THRL
Synccona - Q2 2018 update | Tritax Big Box – Interims to 30 June 2018 | Impact Healthcare REIT – Interims to 30 June 2018
Companies: SYNC BBOX IHR
Research Tree provides access to ongoing research coverage, media content and regulatory news on Tritax Big Box REIT Plc.
We currently have 310 research reports from 10
Companies: AFC ATOM LIB
Companies: Real Estate Investors plc
Trident Royalties Plc (AIM: TRR) has announced that it has secured an effective 1.5% Gross Royalty over the Sonora Lithium Project in Mexico from the estate of Colin Orr-Ewing, for what amounts to a US$0.25m option payment, contemplating a total acquisition consideration of US$26m.
Sonora is a Tier-1 lithium asset jointly owned by Bacanora Lithium Plc (AIM: BCN) and Ganfeng Lithium Co. Ltd (SHE: 002460). Bacanora is currently in the process of being acquired by Ganfeng via a £285m takeover, w
Companies: Trident Royalties Plc
Companies: Oakley Capital Investments
NextEnergy Solar Fund (NESF) provides investors with a well-covered, sustainable and growing dividend underpinned by a highly visible income stream, a conservative balance sheet and high return growth opportunities globally. Additionally, the fund will benefit from both short- and long-term factors sustaining demand for solar generated power.
Companies: Nextenergy Solar Fund
Frontier IP has announced the sale of 183.9k shares in portfolio company Exscientia at an average price of $21.68. This equates to the sale of 11.7% of FIPP’s Exscientia stake and has raised net proceeds of approximately $4m (£2.9m). Following this sale, Frontier IP holds 1.381m shares worth $25.0m (£18.6m). We view this as a highly opportune sale given the ongoing volatility in Exscientia’s share price and the wider market. Frontier IP intends to use the proceeds from the sale for general worki
Companies: Frontier IP Group Plc
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What’s cooking in the IPO kitchen?
Strip Tinning Holdings, an established supplier of specialist connectors to the automotive sector, intends to join AIM. Strip Tinning manufactures specialist flexible electrical connectors related primarily to heating and antennae systems embedded within automotive glazing and to the connection of the cells within electric vehicle (EV) battery packs, increasingly using flexible and lightweight printed circui
Companies: CPP D4T4 DEMG EEE FPO KAT REVB XPF
Companies: Harworth Group PLC
Big Technologies (BIG) expects to deliver 2021 and 2022 results ahead of expectations and we believe the company’s expectations for 2022 are conservative. We believe BIG will continue to deliver strong growth, supported by disruptive technology and a proven management team. We also believe BIG can sustain high margins and deliver reliable earnings, supported by high operating leverage and long-term contracts.
Companies: Big Technologies PLC
Personal Group has released a robust trading update for FY21E, with revenue up c4% YoY to c£75m and Adj EBITDA of c£6m (in line with our forecasts). The group has benefited from a return to face-to-face insurance selling as Covid-related restrictions eased, whilst continued progress has been made within the group's other divisions. Closing net cash was strong (£22m+) and was better than our forecast (c£17.3m). FY22E has reportedly started well, and with employers increasingly cognisant of their
Companies: Personal Group Holdings Plc
Arrow Exploration (AXL LN/CN)C; Target price of £0.30 per share: Production on track. Drilling to start in Colombia in March. Potential additional well in Canada – Overall net production of 1,320 boe/d (as at 01/01/2022) is in line with our expectations of ~1,110 boe/d in 1Q22 (our forecasts exclude any contribution of the Capella field that is currently producing 191 bbl/d and that we anticipate will be sold). Overall net production
Companies: NOG WPL TTE TRIN TLW TGL SAVE CASP CNE CNE JSE IOG AXL ENI ENI GTE AKRBP AKERBP BLOK CEG GPRK GPRK PEN PEN WEN
Revolution Beauty has released a reassuring trading update today, with sales over the key Christmas period +41% YOY, in line with expectations, and guidance for full year FY22 unchanged.
Companies: Revolution Beauty Group plc
Companies: Brewin Dolphin Holdings PLC
What’s cooking in the IPO kitchen?
Strip Tinning Holdings, an established supplier of specialist connectors to the automotive sector, intends to join AIM. Strip Tinning manufactures specialist flexible electrical connectors related primarily to heating and antennae systems embedded within automotive glazing and to the connection of the cells within electric vehicle (EV) battery packs, increasingly using flexible and lightweight printed circuit technology that also has growing application elsewhe
Companies: PGH IDE FNTL CZA ADME CCS CVSG EYE