After yesterday’s stock market slump, many big REITs posted gains in trading today.
That included a near-7% rise for Stenprop, which outlined plans to hit the acquisition trail after the pandemic passes.
Intu gained 5.2%, with rises of more than 4% for Great Portland Estates, Landsec and Derwent London. RDI REIT staged an impressive recovery, finishing trading up 6.5% at 77p, a considerable improvement from Thursday’s fall of 11.29%.
Other REITs struggled to recover after yesterday’s losses. Schroder Real Estate Investment Trust ended trading down 2.71% on 34.05p after yesterday’s 7.16% fall. That came after a drop earlier in the week on the news that refinancing costs had driven a £32.5m loss in the REIT’s annual results.
NewRiver REIT saw shares nudge down 1.32% to 67.1p after a near-11% plunge yesterday.
The FTSE 100 inched up 0.47% to 6105. The FTSE 250 also increased slightly, by 0.61% to 17,077.
To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette
