Q1 Real Estate Quarterly Roundup

Q1 Real Estate Quarterly Roundup

Real Estate Sector Quarterly Roundup

The covid-19 pandemic has had a devastating effect on the share price of property companies, with 31% wiped off the value of their total market capitalisation during the first quarter of 2020. Companies focused on the retail, leisure and hospitality property sectors were particularly badly affected as the country was put on lockdown in an effort to halt the spread of the disease. Later in the quarter, the extent of the problem for property companies was revealed with rent collection announcements. Some retail-focused companies had collected below 50% of rent and service charge during the quarter.

Content

·    Performance data - Only a handful of companies saw their share price rise in the quarter. Companies with stable income streams were among the best performing.

·    Corporate activity - Covid-19 put paid to a number of planned capital raises during the period. However, more than £330m was raised, with Grainger accounting for more than half of that.

·    Major news stories - The coronavirus pandemic dominated the headlines with several companies suspending dividend distributions amid a stark drop off in rent collection.

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