UK real estate: Peel Hunt initiates on balanced portfolios, specialisation trends

Balanced Commercial Property Trust

08/03/2021 11:27

** Peel Hunt initiates coverage of British real estate
investment trusts (REITs)  BCPT.L   PCTN.L   UKCM.L  
    ** These REITs have a good track record in asset allocation
and believes cos' investment opportunity is based on
reinvestment risk, management structure, leverage and dividend
prospects - Peel Hunt
    ** PCTN has the best track record of delivering returns at
both the property and shareholder level, despite its cost ratio
being the highest, says brokerage
    ** Peel Hunt says UKCM has been most active of the trio with
its success in retail exposure, industrials and alternatives and
tackling inflation
    ** BCPT holds the weakest position of the trio, with less
than 20% of its portfolio having exposure to industrial, and
St.Christopher's Place, its largest asset, impacted by the
pandemic - Peel Hunt
    ** These three REITs are "rare vehicles in an era where
specialism is seen as a key attribute for investors," says Peel
Hunt
    
   
 Company                 Rating   Current
                                 PT
 BMO Commercial          Add     80p
 Property Trust                  
 Picton Property Income  Add     100p
 UK Commercial Property  Add     80p
 REIT                            
 

 (Reporting by Siddarth S)
 ((Siddarth.s@thomsonreuters.com;))