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Home REIT PLC on Wednesday responded to a research report about the London-listed real estate investment trust that it described as ‘inaccurate and misleading’.
Home REIT did not name author of the report, but said that it is a Delaware-based firm that specialises in short selling, meaning it profits from falls in the company’s share price. Home REIT was contacted to provide the name of the firm.
A report on Home REIT was published on Wednesday by Delaware-based Viceroy Research. Viceroy said it is shorting Home REIT.
Viceroy said its investigation pointed to a ‘significant downside’ for Home REIT. It claimed several of Home REIT’s largest tenant ‘do not appear to be paying any rent’, alleging that ‘financial accounts show zero outflow’.
Viceroy said ‘publicly available charity financials show that many of these charities may not have the ability to service these leases on a long-term basis’.
‘Home REIT‘