Final results show strong earnings growth driven by higher rents from a material increase in completed units during FY20 (+909); continuing into Q1’21 (+552). The portfolio stands at >2,600 units (Q1’21). The pipeline of contracted units will take PRSR to 5,200 homes with c.£50m rental income. We expect all development to be completed by H2’22 with a fully stabilised FY23e. This stands to drive recurring EPS and NAV per share on our forecasts, as well as moving towa
06 Oct 2020
2,600 homes complete, NAV inflection point reached
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2,600 homes complete, NAV inflection point reached
PRS REIT Plc (PRSR:LON) | 79.4 -0.2 (-0.3%) | Mkt Cap: 436.4m
- Published:
06 Oct 2020 -
Author:
Andrew Watson -
Pages:
3
Final results show strong earnings growth driven by higher rents from a material increase in completed units during FY20 (+909); continuing into Q1’21 (+552). The portfolio stands at >2,600 units (Q1’21). The pipeline of contracted units will take PRSR to 5,200 homes with c.£50m rental income. We expect all development to be completed by H2’22 with a fully stabilised FY23e. This stands to drive recurring EPS and NAV per share on our forecasts, as well as moving towa