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IN BRIEF: PRS REIT adds new homes as rent demand keeps strong

11th Jan 2023 11:33

PRS REIT PLC - Real estate investment trust focused on private rental sector in UK - Says it has added 57 new rented homes to the portfolio during the second quarter ending on June 30, taking the total number of completed homes to 4,913 as at December 31. This is up from 4,489 in the prior year. Says the estimated rental value is GBP50.7 million per annum, about 17% higher than GBP43.5 million per annum.

"Rental demand for the company's homes remains extremely strong. Occupancy at December 31 stood at 97% with 4,788 of the 4,913 completed homes occupied. A further 44 homes were reserved for applicants who had passed referencing and paid rental deposits, giving an occupancy rate of 98%. Like-for-like rental growth on an annualised basis was 5.7%," PRS REIT says.

Current stock price: 84.80 pence each, up 1.8% on Wednesday morning in London

12-month change: down 19%

By Xindi Wei, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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