DOCSLIB.ORG

201009 September Property Roundup

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

October 2020 Monthly roundup | Real estate Kindly sponsored by Aberdeen Standard Investments Winners and losers in September Best performing funds in price terms Worst performing funds in price terms (%) (%) Sigma Capital Group 34.2 Capital & Regional (46.3) Panther Securities 19.5 Hammerson (26.3) Macau Property Opportunities 9.4 BMO Real Estate Investments (24.1) CLS Holdings 8.6 U and I Group (18.5) Phoenix Spree Deutschland 7.2 NewRiver REIT (17.1) Schroder REIT 6.6 Hibernia REIT (14.8) Yew Grove REIT 6.2 Alternative Income REIT (14.6) Helical 3.9 Regional REIT (14.4) RDI REIT 3.5 Capital & Counties (13.5) Custodian REIT 2.9 Grit Real Estate (13.3) Source: Bloomberg, Marten & Co Source: Bloomberg, Marten & Co kjjjj There was an eclectic mix of property companies to feature It is no surprise that once again it was shopping centre in the top price movers for September. Top of the tree was owners Capital & Regional and Hammerson that topped private rented sector and residential development the chart of worst performing property companies in specialist Sigma Capital Group, with a 34.2% rise. The September. Capital & Regional published results at the group launched a £1bn joint venture with EQT Real Estate, beginning of the month in which it posted a 36.6% fall in the real estate platform of global investment firm EQT, to net asset value (NAV) in just six months. Meanwhile, deliver 3,000 private rental homes in Greater London. Hammerson completed a rights issue and share Micro-cap investor Panther Securities also hit double-digit consolidation plan during September, as well as gains, while Macau Property Opportunities saw an uplift in announcing a new chief executive. BMO Real Estate its share price after announcing debt refinancing and a Investments continued to see its share price fall, which in disposal. CLS Holdings, the investor in offices in Germany, the year to date has dropped almost 40%. U and I Group’s France and the UK, continued to see a recovery in its share share price reached an all time low during the month as it price – which has risen 15.1% in the last three months. Off continues to battle against declining land and development the back of solid results, Berlin residential landlord Phoenix values across its portfolio. NewRiver REIT has been Spree Deutschland saw its share price gain 7.2%. another perennial member of the worst monthly property Schroder REIT’s share price rose 6.6% in the month as it share price performers and has year to date lost 75% in embarked on a share buyback programme, while Irish value. Regional REIT reported a 9% fall in its NAV in half- commercial property investor Yew Grove REIT also saw year results, while Capital & Counties’ portfolio in London’s positive shareholder reaction to amending its investment West End has continued to be hit by muted tourist numbers strategy to increase its target loan to value ratio to 40%. and COVID-19 restrictions. This report has been prepared by Marten & Co and is for information purposes only. It is not intended to encourage the reader to deal in any of the securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the FCA. Marten & Co is not permitted to provide investment advice to individual investors Kindly sponsored by Aberdeen Standard Investments Valuation moves Company Sector NAV Period Comments move (%) Supermarket Income REIT Retail 4.1 Full year to Portfolio value grew 46% to £539.4m, mainly 30 June 20 driven by new acquisitions GCP Student Living Student 3.8 Full year to Portfolio grew in value by 8.6% to £1bn accommodation 30 June 20 Circle Property Diversified 2.9 Full year to Portfolio grew in value by 11.9% to £139.5m. 31 Mar 20 Results period largely pre-COVID-19 Phoenix Spree Deutschland Europe 2.8 Half-year to Portfolio valuation up 2.3% to €746.7m 30 June 20 Aberdeen Standard Europe – 1.8 Half-year to Portfolio increase in value to €404.9m following European Logistics Income Logistics 30 June 20 large acquisition Triple Point Social Housing Residential (0.0) Half-year to Portfolio valuation up 8.2% to £510.3m following REIT 30 June 20 acquisitions Real Estate Investors Diversified (4.6) Half-year to Value of portfolio fell 3.1% to £221.8m 30 June 20 UK Commercial Property Diversified (6.6) Half-year to Property portfolio fell in value in the period by REIT 30 June 20 11.6% to £1.22bn BMO Real Estate Diversified (7.8) Full year to Property portfolio valuation down 5.6% in the Investments 30 June 20 year BMO Commercial Property Diversified (7.8) Half-year to Portfolio fell in value by 6.4% in the period to Trust 30 June 20 £1.2bn Regional REIT Diversified (9.0) Half-year to Portfolio value down 5.8% to £742.3m 30 June 20 Secure Income REIT Diversified (10.0) Half-year to Value of property portfolio declined 6% to 30 June 20 £1.96bn Standard Life Investments Diversified (11.5) Half-year to Fall in portfolio value of 7.7% to £447.3m Property Income Trust 30 June 20 Town Centre Securities Diversified (17.4) Full year to Portfolio valuation decline of 6.9% in the year to 30 June 20 £372.5m Capital & Regional Retail (36.6) Half-year to Portfolio of shopping centres declined in value 30 June 20 by 15.9% to £611.3m Source: Marten & Co Real estate monthly roundup – September 2020 2 Kindly sponsored by Aberdeen Standard Investments Corporate activity in September Urban Logistics REIT raised £89.2m in a placing, that it will Schroder REIT commenced a share buyback programme, use to acquire a pipeline of assets. The group also taking advantage of its wide discount (of around 50%). It declared a special dividend of 3.25 pence per share for the has authority to repurchase a maximum of 77,725,160 of six months ending 30 September 2020. its ordinary shares. Supermarket Income REIT and Triple Point Social Housing CLS Holdings completed a £154m “green” loan with Aviva REIT both announced intentions to raise money. Investors secured against a portfolio of 12 UK properties. Supermarket Income REIT aim is to issue £200m worth of The loan, which replaces three existing loans that were due shares, while Triple Point aims to raise £70m. to expire in 2020 and 2021, expires after 10 years and 12 years and has an average fixed interest rate of 2.62%. A There were several high-profile appointments during the 10-basis point reduction in the margin will occur depending months. British Land announced current chief financial on specific sustainability targets being met. officer Simon Carter will succeed Chris Grigg as chief executive on 18 November 2020. Retail landlord BMO Real Estate Investments has removed performance Hammerson appointed Rita-Rose Gagné as new chief fees from the investment management fee with affect from executive replacing David Atkins at the end of the year. St 1 July 2020. The group produced a total return of -0.6% in Modwen hired Centrica Consumer chief executive Sarwjit the year to June 2020, beating the benchmark meaning the Sambhi as its new chief executive, effective from 2 manager was eligible for the maximum performance fee. November 2020. Lastly, Duncan Garrood took up the Conscious of paying performance fees in a market of position of chief executive at Empiric Student Property on negative returns, the board has reduced the performance 28 September. fee by 50% this year and ditched it permanently thereafter. Real estate monthly roundup – September 2020 3 Kindly sponsored by Aberdeen Standard Investments September’s major news stories – from our website • Shed heaven After Urban Logistics REIT announced another equity raise, having invested all the proceeds of its £136m placing from March, QuotedData looks at the polarisation in the property market. • Tritax Big Box REIT sells £134m of assets Tritax Big Box REIT disposed of four assets during the month for a combined £134m. It said the assets (Baker Business Park in Ripon; Langley Mill in Nottingham; Warth Park in Raunds and an Amazon-let property in Chesterfield) had reached their full value following completion of asset management initiatives. • LondonMetric Property sells six warehouses for £57.3m LondonMetric Property sold a portfolio of six distribution warehouses for £57.3m, reflecting a blended net initial yield of 5.3%. The disposal of the assets (located in Worcester, Leamington Spa, Royston, Castle Donnington, Milton Keynes and Huyton) crystallise an £8.8m profit on cost and deliver an internal rate of return of 11% per annum. • CLS Holdings acquires commuter-belt office portfolio for £60m CLS Holdings exchanged contracts to acquire a portfolio of offices in Greater London and the South East (in Richmond, Chelmsford and Leatherhead) for £59.71m, in a major vote of confidence for the UK office market. • A new launch Home-ing in on social benefit QuotedData took a closer look at Home REIT after it announced intentions to raise £250m from an initial public offering (IPO). The company is looking to acquire a portfolio of homeless accommodation in the UK. • Ediston begins construction of retail park Ediston Property Investment Company announced it had started construction of a 48,000 sq ft retail park in Haddington, East Lothian, which is 97% pre-let to tenants including Aldi and Home Bargains. The decision is a fillip for the retail sub- sector that has proved resilient during COVID-19.
Recommended publications
  • REAL ESTATE July 2020

    REAL ESTATE July 2020

    LISTED MARKETS – REAL ESTATE July 2020 Leo Zielinski Partner Tel. +44 (0)7980 809031 [email protected] John Rodgers Partner Tel. +44 (0)7810 307422 [email protected] Will Strachan Partner Tel. +44 (0)7929 885859 [email protected] Lloyd Davies We track the share price movement and regulatory announcements Partner of 57 real estate owning listed entities (“Gerald Eve tracked index”). Tel. +44 (0)7767 311254 A summary of the Gerald Eve tracked index in terms of GAV, NAV, [email protected] LTV, Dividend, Share Price, Market Cap, Discount/Premium to NAV and their respective weekly movement is attached. Lorenzo Solazzo Data Analyst We provide a comparison to share price data from 3 February 2020 Tel. +44 (0)783 309 5582 [email protected] (pre-Covid-19 level) to present day to demonstrate the impact across certain entities as a direct result of Covid-19. James Brown Surveyor As at 30 of June, the Gerald Eve tracked index is currently down 30% to pre- Tel. +44 (0)7464 656563 Covid-19 level, under-performing the FTSE350 which is slowly recovering and is [email protected] now down 16%. The tracked listed REITs share price decreased on average 3% since 1 June 2020 (March: -25%, April: +6%, May: -3%). To provide context around the share price movement, the average discount to NAV is currently 31% against 3% pre-Covid-19. It is unsurprising to note that specialist sector entities across Industrial, Healthcare and Supermarkets have out-performed the REIT universe relative to other strategies within the Gerald Eve tracked index.
  • Parker Review

    Parker Review

    Ethnic Diversity Enriching Business Leadership An update report from The Parker Review Sir John Parker The Parker Review Committee 5 February 2020 Principal Sponsor Members of the Steering Committee Chair: Sir John Parker GBE, FREng Co-Chair: David Tyler Contents Members: Dr Doyin Atewologun Sanjay Bhandari Helen Mahy CBE Foreword by Sir John Parker 2 Sir Kenneth Olisa OBE Foreword by the Secretary of State 6 Trevor Phillips OBE Message from EY 8 Tom Shropshire Vision and Mission Statement 10 Yvonne Thompson CBE Professor Susan Vinnicombe CBE Current Profile of FTSE 350 Boards 14 Matthew Percival FRC/Cranfield Research on Ethnic Diversity Reporting 36 Arun Batra OBE Parker Review Recommendations 58 Bilal Raja Kirstie Wright Company Success Stories 62 Closing Word from Sir Jon Thompson 65 Observers Biographies 66 Sanu de Lima, Itiola Durojaiye, Katie Leinweber Appendix — The Directors’ Resource Toolkit 72 Department for Business, Energy & Industrial Strategy Thanks to our contributors during the year and to this report Oliver Cover Alex Diggins Neil Golborne Orla Pettigrew Sonam Patel Zaheer Ahmad MBE Rachel Sadka Simon Feeke Key advisors and contributors to this report: Simon Manterfield Dr Manjari Prashar Dr Fatima Tresh Latika Shah ® At the heart of our success lies the performance 2. Recognising the changes and growing talent of our many great companies, many of them listed pool of ethnically diverse candidates in our in the FTSE 100 and FTSE 250. There is no doubt home and overseas markets which will influence that one reason we have been able to punch recruitment patterns for years to come above our weight as a medium-sized country is the talent and inventiveness of our business leaders Whilst we have made great strides in bringing and our skilled people.
  • COVERAGE LIST GEO Group, Inc

    COVERAGE LIST GEO Group, Inc

    UNITED STATES: REIT/REOC cont’d. UNITED STATES: REIT/REOC cont’d. UNITED STATES: NON-TRADED REITS cont’d. COVERAGE LIST GEO Group, Inc. GEO Sabra Health Care REIT, Inc. SBRA KBS Strategic Opportunity REIT, Inc. Getty Realty Corp. GTY Saul Centers, Inc. BFS Landmark Apartment Trust, Inc. Gladstone Commercial Corporation GOOD Select Income REIT SIR Lightstone Value Plus Real Estate Investment Trust II, Inc. Gladstone Land Corporation LAND Senior Housing Properties Trust SNH Lightstone Value Plus Real Estate Investment Trust III, Inc. WINTER 2015/2016 • DEVELOPED & EMERGING MARKETS Global Healthcare REIT, Inc. GBCS Seritage Growth Properties SRG Lightstone Value Plus Real Estate Investment Trust, Inc. Global Net Lease, Inc. GNL Silver Bay Realty Trust Corp. SBY Moody National REIT I, Inc. Government Properties Income Trust GOV Simon Property Group, Inc. SPG Moody National REIT II, Inc. EUROPE | AFRICA | ASIA-PACIFIC | MIDDLE EAST | SOUTH AMERICA | NORTH AMERICA Gramercy Property Trust Inc. GPT SL Green Realty Corp. SLG MVP REIT, Inc. Gyrodyne, LLC GYRO SoTHERLY Hotels Inc. SOHO NetREIT, Inc. HCP, Inc. HCP Sovran Self Storage, Inc. SSS NorthStar Healthcare Income, Inc. UNITED KINGDOM cont’d. Healthcare Realty Trust Incorporated HR Spirit Realty Capital, Inc. SRC O’Donnell Strategic Industrial REIT, Inc. EUROPE Healthcare Trust of America, Inc. HTA St. Joe Company JOE Phillips Edison Grocery Center REIT I, Inc. GREECE: Athens Stock Exchange (ATH) AFI Development Plc AFRB Hersha Hospitality Trust HT STAG Industrial, Inc. STAG Phillips Edison Grocery Center REIT II, Inc. AUSTRIA: Vienna Stock Exchange (WBO) Babis Vovos International Construction S.A. VOVOS Alpha Pyrenees Trust Limited ALPH Highwoods Properties, Inc.
  • Summary of Investments by Type

    Summary of Investments by Type

    COMMON INVESTMENT FUNDS Schedule of Investments September 30, 2017 SUMMARY OF INVESTMENTS BY TYPE Cost Market Value Fixed Income Investments $ $ Short-term investments 27,855,310 27,855,310 Bonds 173,219,241 174,637,768 Mortgage-backed securities 29,167,382 28,915,537 Emerging markets debt 9,619,817 11,462,971 Bank loans - high income fund 23,871,833 23,908,105 Total Fixed Income Investments 263,733,583 266,779,691 Equity-Type Investments Mutual funds Domestic 9,284,694 13,089,028 International 18,849,681 21,226,647 Common stocks Domestic 149,981,978 192,057,988 International 225,506,795 259,856,181 Total Equity-Type Investments 403,623,148 486,229,844 Alternative Investments Funds of hedge funds 38,264,990 46,646,700 Real estate trust fund 6,945,440 10,204,969 Total Alternatives Investments 45,210,430 56,851,669 TOTAL INVESTMENTS 712,567,160 809,861,204 Page 1 of 34 COMMON INVESTMENT FUNDS Schedule of Investments September 30, 2017 SUMMARY OF INVESTMENTS BY FUND Cost Market Value Fixed Income Fund $ $ Short-term investments 6,967,313 6,967,313 Bonds 140,024,544 141,525,710 Mortgage-backed securities 27,878,101 27,642,277 Emerging markets debt 9,619,817 11,462,971 Bank loans - high income fund 23,871,833 23,908,105 208,361,608 211,506,377 Domestic Core Equity Fund Short-term investments 4,856,385 4,856,385 Common stocks 131,222,585 167,989,561 Futures - 19,895 Private placement 4,150 4,150 136,083,120 172,869,991 Small Cap Equity Fund Short-term investments 2,123,629 2,123,629 Mutual funds 9,284,694 13,089,028 Common stocks 18,755,243
  • Marten & Co / Quoted Data Word Template

    Marten & Co / Quoted Data Word Template

    Monthly roundup | Real estate October 2019 Winners and losers in September Best performing companies in price terms in Sept Worst performing companies in price terms in Sept (%) (%) Capital & Regional 37.9 Countrywide (11.7) Hammerson 24.9 Town Centre Securities (7.2) NewRiver REIT 19.1 Aseana Properties (5.1) Inland Homes 15.8 Harworth Group (4.3) Capital & Counties Properties 14.8 Ediston Property Investment Company (4.0) British Land 14.7 GRIT Real Estate Income Group (3.7) Workspace Group 13.2 Daejan Holdings (3.5) Countryside Properties 12.3 Primary Health Properties (2.9) Triple Point Social Housing REIT 11.7 Big Yellow Group (2.9) U and I Group 11.1 Conygar Investment Company (2.6) Source: Bloomberg, Marten & Co Source: Bloomberg, Marten & Co Capital & Regional share price YTD The month of Countrywide share price YTD On the flip side, the September was a UK’s biggest estate 40 12 bumper month for agent group, 30 many property 8 Countrywide, which 20 companies’ share also owns a 4 10 price, dominated by commercial real 0 retail focused 0 estate consultancy, Jan FebMar Apr May Jun Jul Aug Sep Jan FebMar Apr May Jun Jul Aug Sep companies, who in was the worst Source: Bloomberg, Marten & Co general have taken a Source: Bloomberg, Marten & Co performing in hammering over the September. It is the past 18 months or so. Top of the list was Capital & Regional. second month in a row that it has been in the bottom 10 and Shares in the shopping centre landlord bounced after it in the year to date it is beaten only by Intu Properties as the announced it was in talks with South African REIT worst performing listed property company, losing 53.5%.
  • 22 March 2016 • London, UK

    22 March 2016 • London, UK

    22 March 2016 • London, UK EUROPE’S ONLY CONFERENCE FOCUSING EXCLUSIVELY ON COMMERCIALISATION AND SPECIALTY LEASING ICSC Global Partner ICSC European Partners To register please visit www.icsc.org/2016SPREEU or call +44 20 7976 3100 #SPREEshow SPREE Europe 22 March 2016 • Business Design Centre, London, UK SPREE Europe is back for its second year on 22 March 2016 and continues to be the only European event focusing solely on specialty leasing and commercialisation. This special event will provide an invaluable opportunity for participants to gain new ideas to grow revenue and profitability through the informative seminar programme led by industry experts. The event will also provide a valuable platform for attendees to network. Last year nearly 200 hundred specialty leasing, marketing and mall management professionals attended the event from 27 countries. The goal of SPREE Europe is to explore the exciting innovations taking place in specialty leasing, commercialisation, digital advertising, mall sponsorship, promotions and brand experience around the globe with a particular focus on Europe. As an additional benefit, SPREE Europe attendees are invited to also participate in European Outlet Conference sessions taking place the same day. Programme Planning Group Conference Chair Clara Maguire, We Are Pop Up Members Bianca Campos, Sonae Sierra Julia Langkraehr, Bold Clarity Eileen Connolly, MadisonSoho Sonia Martinez, CBRE Bryony Crowther, Asset Space Limited Ross McCall, McArthurGlen Nancy Cullen, SpaceandPeople Plc Bill Moss, Westfield Shoppingtowns Ltd Sean Curtis, Velocity Marketing Consultancy Enrico Palestini, Cogest Retail s.r.l. Tom Farley, JLL Mathias Sander, ECE Projektmanagement Svetlana Gromova, IKEA Shopping Centers RUSSIA Jackie Tracey, NewRiver Retail (UK) Ltd Bastiaan Haghuis, Appear Here Aldynai Yumbuu, JLL Russia and CIS Franka Lange, Retail Profile Europe Gold Sponsors Media Partners SPREE Europe 22 March 2016 • Business Design Centre, London, UK Programme SPREE Europe is running concurrently to the ICSC European Outlet Conference.
  • Marten & Co / Quoted Data Word Template

    Marten & Co / Quoted Data Word Template

    Monthly roundup | Real estate August 2020 Kindly sponsored by Aberdeen Standard Investments Winners and losers in July Best performing companies in price terms in July Worst performing companies in price terms in July (%) (%) AEW UK REIT 18.9 Hammerson (20.0) UK Commercial Property REIT 14.9 Countryside Properties (14.4) Schroder REIT 14.5 U and I Group (14.0) Empiric Student Property 11.4 Real Estate Investors (13.4) Palace Capital 10.6 Tritax EuroBox (11.8) LondonMetric Property 9.7 St Modwen Properties (10.9) Triple Point Social Housing REIT 9.2 Drum Income Plus REIT (10.0) RDI REIT 8.5 Alternative Income REIT (8.4) SEGRO 8.3 Panther Securities (8.2) CLS Holdings 5.5 BMO Commercial Property Trust (7.1) Source: Bloomberg, Marten & Co Source: Bloomberg, Marten & Co. AEW UK REIT share price YTD A number of REITs Hammerson share price YTD Retail landlord and property Hammerson continued 110 companies saw big 300 to see its share price 95 255 share price gains 210 fall during July and has 80 over the month of 165 now lost 79.2% of its 120 65 July as covid-19 value in the year to 75 50 restrictions started to 30 date – the worst in the Dec Jan Feb Mar Apr May Jun Jul ease across the UK Dec Jan Feb Mar Apr May Jun Jul real estate sector. The Source: Bloomberg, Marten & Co and greater Source: Bloomberg, Marten & Co company, which owns economic stimulus shopping centres, retail was revealed. The biggest mover was AEW UK REIT.
  • FTSE Factsheet

    FTSE Factsheet

    FTSE COMPANY REPORT Share price analysis relative to sector and index performance Custodian REIT CREI Real Estate Investment Trusts — GBP 0.885 at close 03 August 2020 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 03-Aug-2020 03-Aug-2020 03-Aug-2020 1.2 105 130 1D WTD MTD YTD Absolute -0.6 -0.6 -0.6 -22.4 100 Rel.Sector -0.5 -0.5 -0.5 2.2 1.1 120 Rel.Market -2.6 -2.6 -2.6 -2.7 95 1 110 VALUATION 90 Trailing Relative Price Relative 0.9 Price Relative 100 85 PE 16.1 Absolute Price (local currency) (local Price Absolute EV/EBITDA 15.8 0.8 90 80 PB 0.9 PCF 12.0 0.7 75 80 Div Yield 6.8 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Price/Sales 8.6 Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Net Debt/Equity 0.3 90 100 100 Div Payout +ve 80 90 90 ROE 5.6 80 70 80 Share Index) Share 70 Share Sector) Share - - 70 60 60 DESCRIPTION 60 50 50 50 40 The Company is a real estate investment trust. 40 RSI RSI (Absolute) 40 30 30 30 20 20 20 10 RSI (Relative to FTSE UKFTSE All to RSI (Relative RSI (Relative to FTSE UKFTSE All to RSI (Relative 10 10 0 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Past performance is no guarantee of future results.
  • Newriver REIT Plc Annual Report and Accounts 2018

    Newriver REIT Plc Annual Report and Accounts 2018

    & Annual Report 2018 Accounts and NewRiver REIT plc Annual Report and Accounts 2018 NewRiver REIT plc (‘NewRiver’) is a Premium Listed REIT on the Main Market of the London Stock Exchange and a constituent of the FTSE 250 and EPRA indices. Founded in 2009, we specialise in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets. Our high-quality and conveniently located portfolio provides value for money on essential goods and services to consumers across the UK, and our affordable rents and high footfall locations create desirable and profitable trading opportunities for our occupiers. It is our fundamental belief that affordability for occupiers, and not lease length, means sustainability for our business. With an experienced management team and proven business model, we have a track record of delivering growing and sustainable cash returns to our shareholders and creating thriving communities across the UK. CONTENTS Strategic Report Financial Highlights IFC Our Business at a Glance 04 Chairman’s Review 08 Our Business Model 10 Our Marketplace 12 Leveraging our Key Relationships 16 CEO Review 18 OUR FINANCIAL HIGHLIGHTS Our Strategy 24 Our KPIs 26 Property Review 32 Gross income Funds From Operations Financial Review 56 (proportionally consolidated) Our People 68 ESG Report 69 Risk Management Report 74 £107.0m £60.3m Governance FY17: £106.7m FY17: £58.2m Board of Directors 78 Corporate Governance Report 80 Audit Committee Report 85 FFO per share Ordinary dividend per share Nomination Committee
  • FTSE Factsheet

    FTSE Factsheet

    FTSE COMPANY REPORT Share price analysis relative to sector and index performance Data as at: 30 January 2020 AFI Development PLC-GDR REG S TICKER Real Estate Investment & Services — USD 0.36 at close 30 January 2020 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 30-Jan-2020 30-Jan-2020 30-Jan-2020 0.4 150 160 1D WTD MTD YTD Absolute -1.6 -5.3 -6.3 -6.3 140 150 Rel.Sector -1.4 -3.8 -5.7 -5.7 0.35 140 Rel.Market -0.4 -2.8 -4.2 -4.2 130 130 120 0.3 VALUATION 120 110 110 Trailing RelativePrice 0.25 RelativePrice 100 100 PE 6.3 Absolute(localPrice currency) 90 EV/EBITDA 11.6 90 0.2 PB 0.2 80 80 PCF 5.8 0.15 70 70 Div Yield 0.0 Jan-2019 Apr-2019 Jul-2019 Oct-2019 Jan-2019 Apr-2019 Jul-2019 Oct-2019 Jan-2019 Apr-2019 Jul-2019 Oct-2019 Price/Sales 1.2 Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Net Debt/Equity 0.7 100 100 100 Div Payout 0.0 90 90 90 ROE 4.1 80 80 80 70 70 Index) Share 70 Share Sector) Share - - 60 60 60 DESCRIPTION 50 50 50 The Company's main activities are real estate 40 40 40 RSI RSI (Absolute) development and investment.
  • November 2020

    November 2020

    November 2020 Monthly roundup | Real estate Kindly sponsored by Aberdeen Standard Investments Winners and losers in October Best performing funds in price terms Worst performing funds in price terms (%) (%) NewRiver REIT 28.7 Panther Securities (28.6) Schroder European REIT 27.4 Raven Property Group (20.3) Helical 15.1 Grit Real Estate Income Group (11.5) Workspace Group 14.6 Empiric Student Property (11.5) Standard Life Inv. Property Income 14.1 Ground Rents Income Fund (10.2) Alternative Income REIT 12.2 Secure Income REIT (9.4) CEIBA Investments 9.3 PRS REIT (9.3) BMO Real Estate Investments 7.8 GCP Student Living (9.2) Inland Homes 6.8 Sigma Capital Group (7.8) Real Estate Investors 6.3 Alpha Real Trust (7.2) Source: Bloomberg, Marten & Co Source: Bloomberg, Marten & Co kjjjj October finished with the threat of a second lockdown The heaviest share price faller in October – Panther looming over the UK as COVID-19 cases continued to rise. Securities – is very illiquid so its share price can be However, this did not dampen demand for shares in some distorted with one big transaction. Of the rest, Grit Real of the companies that have already been battered during Estate Income saw a double-digit fall in its share price after the pandemic, even before news of a potential vaccine reporting a big drop in NAV. Student accommodation breakthrough broke in early November. Successful sales specialists Empiric Student Property and GCP Student of retail assets by NewRiver REIT saw its share price Living both continue to be impacted by COVID-19, with bounce 28.7% in the month to top the table.
  • Schroder UK Mid Cap Fund Plc Unaudited Portfolio Holdings at 31St July 2020

    Schroder UK Mid Cap Fund Plc Unaudited Portfolio Holdings at 31St July 2020

    Schroder UK Mid Cap Fund plc Unaudited portfolio holdings at 31st July 2020 The investments listed below have been valued on a fair value basis using closing bid prices. Market Nominal value Investment SEDOL ISIN holding £ 4Imprint Group Ord GBP0.385 664097 GB0006640972 105,000 2,493,750 A G Barr Ord GBP0.04167 B6XZKY7 GB00B6XZKY75 700,000 2,999,500 Anglo Pacific Group Ord GBP0.02 644936 GB0006449366 2,050,000 2,423,100 Bodycote PLC Ord GBP0.173 B3FLWH9 GB00B3FLWH99 800,000 4,504,000 Brewin Dolphin Ord GBP0.01 176581 GB0001765816 1,610,000 4,218,200 Cairn Energy Ord GBP0.0136686 B74CDH8 GB00B74CDH82 2,300,000 2,748,500 Capita Plc B23K0M2 GB00B23K0M20 2,700,000 924,210 CLS Holdings Plc Ord GBP0.025 BF04459 GB00BF044593 1,749,950 3,415,902 Computacenter Plc Ord 0.075555 BV9FP30 GB00BV9FP302 300,000 5,943,000 Cranswick Ord GBP0.10 231888 GB0002318888 114,000 4,078,920 Crest Nicholson Holdings Ltd Ord GBP0.05 B8VZXT9 GB00B8VZXT93 800,000 1,496,000 Dechra Pharmaceuticals Ord GBP0.01 963318 GB0009633180 143,310 4,087,201 Diploma Ord GBP0.05 182663 GB0001826634 320,000 5,801,600 Dunelm Group GBP.01 B1CKQ73 GB00B1CKQ739 790,000 9,709,100 Fisher (James) Ord GBP0.25 339500 GB0003395000 266,000 3,037,720 Future PLC Ord GBP0.15 BYZN904 GB00BYZN9041 212,000 2,925,600 Games Workshop Ord GBP0.05 371847 GB0003718474 80,000 7,024,000 Gamesys Group Plc Ord NPV BZ14BX5 GB00BZ14BX56 132,072 1,226,949 Genus Ord GBP0.10 207458 GB0002074580 80,000 2,716,800 Grafton Group New Units B00MZ44 IE00B00MZ448 530,000 3,407,900 Grainger Ord GBP0.05 B04V127 GB00B04V1276