Landsec’s share price closed down 12.8% at 551.8p today, amid falls across real estate.
Earlier today the REIT, which was among the first real estate companies to issue its financial results for the year ending March, disclosed that the value of its portfolio had dropped by 8.8% (£1.2bn) to £12.8bn.
New chief executive Mark Allen warned the economy may not recover to pre-coronavirus levels until 2022, indicating how rocky the road ahead will be for real estate.
The landlord was one of the biggest fallers in the stock exchange today alongside fellow landlord Hammerson, which ended down 13.6% at 45.4p, and British Land, which traded down 10.3% to end the day at 343.9p.
The FTSE 100 inched up by 0.9%, while the FTSE 250 dipped by 0.6%.
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