If an inflexion point in the rates cycle has been reached, as seems to be the case, Urban Logistics REIT (SHED) is a compelling proposition. Valuations have stabilised – as evidenced by a 0.2% uplift in the value of its portfolio in the six months to September 2023 – while the company has substantial reversion baked into its portfolio. SHED’s manager has an enviable track record of creating value through asset management initiatives, and says that it will continue to be a focus for the company ....