We track the share price movement and regulatory announcements of 57 real estate owning listed entities (“Gerald Eve tracked index”). A summary of the Gerald Eve tracked index in terms of GAV, NAV, LTV, Dividend, Share Price, Market Cap, Discount/Premium to NAVnand their respective weekly movement is attached.
We provide a comparison to share price data from 3 February 2020 (pre-Covid-19 level) to present day to demonstrate the impact across certain entities as a direct result of Covid-19.
As at 30 of June, the Gerald Eve tracked index is currently down 30% to pre-Covid-19 level, under-performing the FTSE350 which is slowly recovering and is now down 16%. The tracked listed REITs share price decreased on average 3% since 1 June 2020 (March: -25%, April: +6%, May: -3%). To provide context around the share price movement, the average discount to NAV is currently 31% against 3% pre-Covid-19. It is unsurprising to note that specialist sector entities across Industrial, Healthcare and Supermarkets have out-performed the REIT universe relative to other strategies within the Gerald Eve tracked index. Clearly, there are variations across the various sectors/strategies which we highlight in more detail within this report.
More recent RNS announcements for the month of July will be covered in the next edition.
Investment Brief - Summer 2020
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