Delivery of new homes slowed in Q2, with +198 new PRS units completed and let. This is the result of staff absence (Omicron) and some materials shortages, as well as fewer sites now PRSR is in the latter stages of deployment. We expect this to be recouped, and continue to expect full stabilisation by end FY24e (~5,700 units with c.£55m ERV). We leave forecasts unchanged as the impact from this is negligible against the backdrop of a supportive rental market. We reiterate our BUY recommendation a ....
18 Jan 2022
On track to hit 5,700 target, some near term disruption
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On track to hit 5,700 target, some near term disruption
PRS REIT Plc (PRSR:LON) | 77.1 -0.1 (-0.1%) | Mkt Cap: 423.5m
- Published:
18 Jan 2022 -
Author:
Andrew Watson | Paul Glover -
Pages:
3
Delivery of new homes slowed in Q2, with +198 new PRS units completed and let. This is the result of staff absence (Omicron) and some materials shortages, as well as fewer sites now PRSR is in the latter stages of deployment. We expect this to be recouped, and continue to expect full stabilisation by end FY24e (~5,700 units with c.£55m ERV). We leave forecasts unchanged as the impact from this is negligible against the backdrop of a supportive rental market. We reiterate our BUY recommendation a ....