Foresight Solar Share Discussion Threads

[masurenguy] 16/9/2024 08:32

Foresight Solar Fund

Foresight Solar Fund invests in solar and battery storage assets in the UK and overseas. With a target dividend of 8p for 2024, Foresight Solar Fund offers an 8.6% yield and has launched a £50m share buyback programme. Foresight argues that its UK sites consistently outperform peers in the conversion of solar irradiation into electricity. Despite challenges related to bolstering production overseas, Foresight’s second-quarter net asset value (NAV) increased, and cash flow proved resilient. Plans for asset sales, debt reduction, and a focus on total returns enhance Foresight’s prospects. 94p
Shares Magazine

[petersinthemarket] 15/9/2024 17:23

Can someone pls post the article?

[petersinthemarket] 06/9/2024 11:23

Behind a paywall

[masurenguy] 05/9/2024 06:07

Why Foresight Solar Fund is beginning to radiate optimism

Falling rates will boost the relative yield attractions of this sustainability-focused fund.

[masurenguy] 04/9/2024 06:48

Declaration of Dividend

Foresight Solar is pleased to announce the second interim dividend, for the period 31 March 2024 to 30 June 2024, of 2.00p per ordinary share. The shares will go ex-dividend on 24 October 2024 and the payment will be made on 22 November 2024 to shareholders on the register as at the close of business on 25 October 2024. The Board confirms its annual dividend target of 8.00p per ordinary share for the 2024 financial year.

[orinocor] 16/8/2024 15:34

07 Aug, 2024
Panmure Liberum: Five best-value renewables funds as rates fall
Analyst Shonil Chande identifies a handful of cheap, high-yielding solar and wind funds in response to RM Funds’ Pietro Nicholls calling out an inflection point in renewables.
Gavin Lumsden

Panmure Liberum analyst Shonil Chande followed up the ‘interesting’ article published yesterday in Citywire Investment Trust Insider, where RM Funds’ Pietro Nicholls argues the drop in one-year gilt yields due to last week’s interest rate cut signalled an inflection point and improved ‘capital flows and performance’ are likely to follow.

Chande highlighted a group of core solar funds that looked ‘particularly good value’, with 8-10% yields offering an average ‘spread’ of around 4.5% over one-year gilts, while the 7% yields on UK and Ireland wind funds provided a yield margin of around 3%.

The analyst flagged Greencoat UK Wind (UKW), Octopus Renewables (ORIT), Renewables Infrastructure Group (TRIG), Bluefield Solar (BSIF) and Foresight Solar (FSFL) as good value, noting the share prices of renewable funds had followed the market lower in the past week.


Octopus, which Chande highlighted along with UK Wind as having an ‘underappreciated’ track record of increasing dividends with inflation, gained 1.3% today.

The £424m Octopus yields 8% and at Tuesday’s close stood at a 28.7% discount to net asset value (NAV), according to Deutsche Numis data.
The £3.2bn UK Wind yields 7.1% and traded on an 11.7% discount, the narrowest of listed renewables funds.
The £648m Bluefield Solar yields 8.1% and was priced 17.2% below asset value.
The £479m Foresight Solar yields 9% and offered a 24.8% discount to NAV.
Rising interest rates in the past two years hurt renewable fund share price ratings because they put upward pressure on discount valuation rates that in turn reduced the value of their assets and depressed NAVs.

However, the change in interest rate trajectory and the success of funds such as Renewables Infrastructure Group and Octopus in selling assets at or above their previous valuation had encouraged investors, Chande said. ‘We suspect that concern over discount rates has, if not abated, then moved on significantly.’;

Another way of highlighting the value in renewables funds, Chande said, was looking at their net cash yields before dividends and after finance costs. ‘TRIG and UKW last annual figures reflect yields of 13.7% and 12.8% to their market cap. The yields will be lower for most of the less mature renewable funds but are still sufficiently attractive.

[spectoacc] 08/8/2024 10:42

RNS seemed OK this morning, and c.8.7% divi here.

[stevefoster] 16/7/2024 11:51

The recent AGM voted against discontinuation, so not for at least another year.

[petersinthemarket] 16/7/2024 11:11

This Trust looks rock solid to me.
Is discontinuation a realistic possibility?
pete

[rj allen] 09/7/2024 20:17

Does anyone know if there are any platforms which will allow holders to accept the Unlisted B shares option. Both Halifax and AJ Bell will only accept the cash offer.

[marketmuser] 04/7/2024 10:56

The last L in FSFL stands for Ltd. Which tells you it's incorporated as a company...which tells you it's an investment trust not a 'Fund'.Of course you could have just gone to the FSFL website which, in the very first sentence on its home page, states it's a closed ended investment company!