Schroder Real Estate Investment Trust is launching a share buy-back programme.
The REIT’s share price is at a decade-plus low of 28.7p. As of the publication of its full-year results to the end of March, the discount to NAV was more than a third.
Schroder said investing in its own shares at their current price and discount to NAV “offers attractive value” for its shareholders.
Schroder REIT is currently authorised to buy back up to 77,725,160 of its current shares, and as of the end of June had £85.4m in cash and a loan-to-value ratio of 24%.
JP Morgan will act as broker to the REIT on the programme.
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