PRS REIT enters FTSE 250 index in 'landmark' move

Follows share price rally

The PRS REIT (PRSR) has joined the FTSE 250 index in a "landmark event" that has followed a share price rally over the last three months.

According to the Association of Investment Companies, the trust's share price has gained nearly 40% since the end of June. Year-to-date, PRSR is up 26% on share price terms, while its NAV has ticked up less than 2.5% over the same period. The trust, managed by Sigma PRS Management since its IPO in 2017, holds over £1bn in assets and is currently trading at a 15% discount to net asset value.  In a stock exchange notice today (30 September), chair Steve Smith said the entry to the index would not have been achieved without the backing of its investors, banking and housebuilder partners,...