Reita launched this week the first publicly available discount to Net Asset Value (NAV) data for UK commercial property. Reita - the education and awareness campaign for property investment and REITs - said it will publish on its website monthly figures reporting the average discount or premium to NAV of the shares of REITs and property companies within the FTSE EPRA UK REITs and NON REITs universe.
Reita launched this week the first publicly available discount to Net Asset Value (NAV) data for UK commercial property. Reita - the education and awareness campaign for property investment and REITs - said it will publish on its website monthly figures reporting the average discount or premium to NAV of the shares of REITs and property companies within the FTSE EPRA UK REITs and NON REITs universe.
The data is calculated and supplied to Reita by the European Public Real Estate Association, it added.
'We are frequently asked for discount to NAV figures as they as represent an important indicator of current and future performance,' said Dave Butler, head of external affairs for Reita.
'Because REITs are a tax-free vehicle, the value of the shares in REITs should essentially be the same as the value of the properties they hold, adjusted for the market’s view of the value that management can add to these properties. Of course markets are swayed by sentiment and discounts and premiums therefore reflect sentiment too.'
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