PRS REIT PLC - real estate investment trust focusing on new-build family homes for the private rental market - Says the number of homes added to the portfolio in the second quarter was 529, bringing housing delivery to 1,081 homes over the first six months of the current financial year. In total, company's portfolio stood at 3,163 completed homes at December 31, up from 2,634 at the end of September, with an estimated rental value of GBP29.4 million per year.
Says both rent collection and rental demand in quarter was "strong".
Confirms intention to apply to the UK Financial Conduct Authority for the company's shares to be admitted to the premium segment in early 2021.
"The transfer is expected to broaden the company's share register and facilitate its eligibility for inclusion in FTSE's EPRA and UK Index Series," says PRS.
Sigma Capital Group PLC's subsidiary, Sigma PRS Management Ltd, is investment adviser to PRS REIT. Sigma Capital notes PRS REIT's release, and in a separate press release on Monday says it will receive GBP2.9 million following the sale of the Thistle Portfolio of 918 suburban family PRS homes.
"The GBP2.9m represents Sigma's share of total sale profits after certain hurdles. It stands at 53% above the book value of GBP1.9m ascribed to Sigma's beneficial interest in the Thistle Portfolio in the company's last published report and accounts," says Sigma.
PRS REIT current stock price: 80.00 pence
Year-to-date change: up 4.2%
Sigma Capital current stock price: 134.50p
Year-to-date change: up 2.7%
By Lucy Heming;Â lucyheming@alliancenews.com
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Prs Reit (PRSR)