The PRS REIT (“PRSR”) has seen 529 completions in Q2 as momentum is sustained. 3,163 homes have been completed (£29m ERV) progressing towards the 5,200 target by FY22e. We note the Thistle Portfolio sale announced today will likely provide a positive catalyst for valuation in the next 12 months. The shares currently trade on a 24% discount to NAV with a 5%+ yield (growing to 6.5% on stabilisation). We expect progress over the next 9-12m to represent an inflection point in terms of return visibil ....
11 Jan 2021
Delivery momentum continues, positive value catalyst
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Delivery momentum continues, positive value catalyst
PRS REIT Plc (PRSR:LON) | 77.1 -0.1 (-0.1%) | Mkt Cap: 423.5m
- Published:
11 Jan 2021 -
Author:
Andrew Watson -
Pages:
3
The PRS REIT (“PRSR”) has seen 529 completions in Q2 as momentum is sustained. 3,163 homes have been completed (£29m ERV) progressing towards the 5,200 target by FY22e. We note the Thistle Portfolio sale announced today will likely provide a positive catalyst for valuation in the next 12 months. The shares currently trade on a 24% discount to NAV with a 5%+ yield (growing to 6.5% on stabilisation). We expect progress over the next 9-12m to represent an inflection point in terms of return visibil ....