It is a shame to see growing number of REITs accepting bids at less than a still depressed but now rising NAV. CRT have accepted a bid of 108p, less than the last reported NAV of 118p The annual results are due to be unveiled and it is likely the NAV will have risen. Share prices have been depressed since the post covid increase in interest rates but have started to pick up as interest rates have just started to fall. The outlook for interest is that, although they won't go back to precovid levels of 0.5%, there will be further significant reductions over the next 18 months. This will further increase NAV's and therefore share prices. As well as CRT accepting an offer from an american company, Assura have accepted a bid from from an american PE fund but WHR have fortunately have rejected an offer at less than NAV

It is great pity that UK companies have such a short term view compared to overseas companies.


Full Disclosure: I hold shares in CRT, PHP, WHR and a few more REITs