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Real Estate Roundup - April 2021

Drum Income Plus REIT saw its share price rally 75% in March following the announcement that its board was undertaking a strategic review to consider the future of the company, which it said could include “realising the value in the group's property portfolio”. The trust has failed to generate any liquidity in the shares, which have traded at a significant discount to their net asset value since it launched in 2015. Despite the uplift in its share price, the group is still trading at a 28% discount to net asset value. Shopping centre owner Hammerson also saw a jump in its share price in March, albeit from a low base. The company’s share price has been decimated over recent years as its exposure to the struggling retail sector hit the valuation of its portfolio. Schroder European REIT recovered from share price falls in January and February this year, while long income specialist Secure Income REIT continued its share price recovery with another good month. Year to date, its share price has risen almost 20%, although it is still 22% down on its pre-pandemic height.