NewRiver REIT’s share price fell by 5.6% today after it posted a loss of £153.2m due to ongoing valuation declines.
The retail and leisure-focused REIT reported a like-for-like valuation decline of 13.6% and EPRA NTA per share down 24.9% at 151p in results for the year to the end of March. It finished the day with a share price of 99.1p, trading at a 34% discount to NTA.
Also down today was flexible office provider Workspace, which tumbled by 3.2% to 883p after full-year results saw it fall into the red.
Workspace said a drop in income had dented its valuation causing the company to swing to a loss. But it hopes to take advantage of a return to central London with a campaign to boost occupancy.
The FTSE 100 and 250 were both down by 0.6% in a generally downbeat day for the market, with few rises, but widespread losses in real estate.
Countryside dropped 4%, Helical was down 3.5% and Regional REIT fell 3.3%.
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