Schroder REIT has posted an uptick in its share price today, even as the news of Duncan Owen’s impending exit rocked the property industry.
Shares in the REIT rose by 2.54% to 36.3p after it disclosed that Owen, its fund manager, is preparing to step down as Schroders’ global head of real estate.
Owen will be replaced by Sophie van Oosterom, chief executive and chief investment officer at CBRE Global Investors.
Elsewhere, Ediston Property Investment rose higher than its REIT counterparts on the stock exchange today, gaining 5.61% to reach 54.6p.
AEW UK and BMO Real Estate Investments posted the biggest REIT losses. AEW UK closed at 116.86p, falling 3.53%, while BMO Real Estate Investments dropped 4.14% to 139.61p.
The FTSE 100 was up 0.13% over trading, closing at 6,269.73. The FTSE 250 rose by 0.67% to finish the day at 17,501.83.
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