PRS REIT PLC / Other Residential Focused REITS
Posted: May 17th, 2020, 1:00 pm
by ron505
Hello
Does anyone have any useful analysis/information on PRS REIT PLC?
Alternatively, any recommendations for residential REITS?
Thanks
Ron
Re: PRS REIT PLC / Other Residential Focused REITS
Posted: May 18th, 2020, 4:04 pm
by naybutthisdotage
I'm not allowed to post a link, but the AIC has a sub-section for UK residential REITS, which contains:
CSH
SOHO (Triple Point)
GCP
RESI
PRSR
Out of these, Civitas and Triple Point are 100% social housing let on long leases (20+ years) to local authorities and housing associations - they focus on specialist units for adults requiring assisted living; GCP is in student housing; RESI is a mix of social housing, retirement homes and new-build shared ownership units.
This leaves just PRSR as a "pure-play" residential housing fund, investing in new build-to-rent homes. It is still in the "ramp-up" phase and has not yet fully deployed its available capital.
Outside the REIT sector, Grainger (GRI) is a UK FTSE 250 company invested in UK rental homes. It's now [roughly] 50% old-style regulated tenancies (low rent homes with lifetime tenancies, bought at a discount, that are re-developed once the tenant dies) and 50% new build-to-rent homes.
Investors Chronicle has research on all the above. You can also sign up to Edison for their reports. [both pay-walled]