Stifel sees 'strong buying opportunity' in Secure Income REIT on 31% discount

Shares are pricing in Armageddon

Secure Income REIT’s current 31% discount to net asset value (NAV) is pricing in “Armageddon” for the company’s non-healthcare assets, presenting “a very strong buying opportunity”, Stifel has said.

The £859m real estate investment trust has struggled during 2020, with its share price still 22.7% below where it was on 9 April, despite all bar one of its IT Property - UK Residential sector peers having bounced back from their Covid-induced losses to trade higher than where they were on the same date. Indeed, Stifel showed Secure Income's 31% discount to NAV stood in sharp contrast to a basket of income-focused property peers' average premium of 28%. Why investors shouldn't bet their house on REITs But analyst John Cahill believes that, assuming the company's healthcare assets t...