'We share shareholders' frustrations': Home REIT posts £475m loss in long-overdue 2022 results

NAV per share reduced by 57.5%

Home REIT has published its long-overdue 2022 results, which reveal a triple-digit loss and a write-down of more than half its 2022 portfolio valuation.

In its delayed results for the year to 31 August 2022 published today (11 October), the former FTSE 250 trust reported a 57.5% drop in net asset value per share to 43.7p, down from 103p during the same period in 2021. The trust's NAV rose from a restated 2021 figure of £247.9m to £345.9m in 2022. However, after accounting for £601.2m in net proceeds from share issuances, this reflects a £503.2m decline in NAV from the restated August 2021 valuation. This drop was largely due to a £452.9m reduction in the fair value of the trust's properties, amounting to 49.8% of the historical acquis...