PRS REIT has received several potential acquisition enquiries, the firm has announced.
In a stock exchange announcement this morning (11 February), the board of the £600m trust said that a majority of the ‘several non-binding proposals’ received were at a premium to its current share price and beneath its net asset value.
The trust’s discount currently stands at 18.34%, according to the Association of Investment Companies.
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In December, the trust said it was in active discussions with a number of potential suitors.
The board has now invited a section of the interested parties to enter a due diligence process, which it expects to complete by the end of Q1.
Meanwhile, the trust has also raised its quarterly dividend to 1.1p per share for Q2, up from 1p in last year’s Q2.
The trust invests in newly constructed residential housing.
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