Schroder REIT suffered one of the heaviest falls among London-listed property investors today, after revealing that refinancing costs had left it £32.5m in the red during the year to 31 March. The REIT’s shares closed down almost 7% at 37.95p.
In a falling market – drops of 2% for the FTSE 100 and FTSE 250 – many of the best-known real estate owners took a tumble.
Office group Workspace was down more than 8%, while Landsec and Shaftesbury each dropped by roughly 6% and British Land fell by 5.5%. There were falls of around 4% for Great Portland Estates, Capco and Derwent London.
There was also more volatility for intu. Having plummeted by a fifth in trading yesterday, the REIT pared some of those losses today. The day’s biggest property gainer, its shares closed up 8% at 7.82p.
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