Shares in Derwent London rose by 4.3% in trading today, after the FTSE 250 REIT updated the market on the impact the coronavirus pandemic is having on its business.
Despite being able to offer no financial guidance as the crisis continues, Derwent said that it has collected more than 70% of rent due from tenants for the second quarter, will maintain its dividend and has not furloughed or cut salaries of any staff. Its shares closed at 3,394p.
The most notable REIT riser of the day in percentage terms was intu Properties, which swung up roughly 14% – or just 0.6p – to close at 4.79p, close to a month-high for the embattled shopping centre owner.
The sharpest property-centred fall in the FTSE was seen by AEW UK REIT, which closed down 7.7% at 65.8p.
The FTSE 100 closed down by 0.47% at 5,677. The FTSE 250 was up by 1.9% at 15,862.
To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette
