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Market wrap: REITs drop with rental updates

Shopping centre and retail park investor NewRiver REIT dropped 3.3% today, after updating the market on rents paid for the December quarter.

Despite outperforming others in the sector with 70% of rents collected, the REIT saw shares slump to end the day at 82p.

After collecting 86.4% of rents, RDI REIT also failed to impress. The REIT fell 4.31% to 86.5p.

Elsewhere, retail rival Capital & Regional saw one the highest gains in real estate, rising 5.18% to 69p.

Regional resi developer One Heritage rose a further 11.32%, building on gains of 70% earlier this week. The developer previously said it’s not aware of any reason for the surge. It ended the session at a new record price of 29.5p.

The FTSE 100 dipped 0.27% to 6,715 and the FTSE 250 fell 0.42% to 20,794.

To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette

Image © Paul Gillis/Shutterstock

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