PRS REIT enters FTSE 250 index in 'landmark' move

Follows share price rally

Valeria Martinez
clock • 2 min read

The PRS REIT (PRSR) has joined the FTSE 250 index in a "landmark event" that has followed a share price rally over the last three months.

According to the Association of Investment Companies, the trust's share price has gained nearly 40% since the end of June. Year-to-date, PRSR is up 26% on share price terms, while its NAV has ticked up less than 2.5% over the same period. The trust, managed by Sigma PRS Management since its IPO in 2017, holds over £1bn in assets and is currently trading at a 15% discount to net asset value.  In a stock exchange notice today (30 September), chair Steve Smith said the entry to the index would not have been achieved without the backing of its investors, banking and housebuilder partners,...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment Trusts

Trustpilot