Many of the biggest names in listed real estate saw their share price fall today, including Shaftesbury following its pandemic-impacted interim results.
The REIT’s share price ended the day down 5.09% at 615p per share after it reported a loss of £287.6m for the six months to 31 March and a 7.9% dip in the value of its portfolio to £3.5bn.
As M&A speculation mounts, not least due to Capco taking a stake in the business, chief executive Brian Bickell acknowledged the possibility of a takeover approach. “I am sure lots of people look at where the share price is in relation to the NAV and think perhaps this is a bit of mismatch – it’s cheap, even though times are challenging at the moment,” he told EG .
Countrywide was the biggest faller in the real estate sector. Its share price dropped by 10.94% to 132.7p per share, while Whitbread made it into the FTSE 100’s top fallers with a 5.73% drop to 2,501p per share.
Hammerson and Newriver REIT also saw share price dips of 5.85% and 5.11% to 117.5p and 76.2p respectively.
The FTSE 100 nudged down 0.10% to 6,329 points and the FTSE 250 was down by 0.84% to 17,605.
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