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QuotedData’s Real Estate Monthly Roundup – September 2024

The customary summer lull in activity in the real estate sector was evident during August, with news flow at a trickle. This was mirrored in share prices, with the average movement over the month of +0.3%. Once again corporate activity was the main driver behind the largest share price outlier, this month PRS REIT. Its share price bounced at the end of the month as shareholders requisitioned the board calling for two directors, including the chairman, to be replaced (see page 3 for more details). The share price of Triple Point Social Housing REIT responded positively to its board’s announcement that it was making progress with its investment manager review and the news that the fund had replaced a struggling tenant in rental arrears (see page 4 for more information). Residential Secure Income was perhaps boosted by the new Labour government’s ambitious house building target, which is set to provide a substantial tailwind for the affordable housing sector in which it operates. Capital & Regional continues to be the subject of takeover talks, with two parties running the numbers on the company (see page 3). Meanwhile, Primary Health Properties saw an uptick in its share price perhaps on hopes that a new health secretary will ease the bottleneck in primary health centre development.