Falling house prices and rising rents are expected to benefit two U.K. stocks focused on the private rented sector: The PRS REIT PLC and Grainger PLC , according to stock analysts. As fewer people can afford to buy homes, thanks to rising interest rates, demand for rental properties has risen alongside an increase in rent. At the same time, the supply of rental homes has not kept pace with demand, leading to annual rents rising by 5.3% in the 12 months to July, according to the U.K.
line Analysts highlight rental solid growth for both companies. Jefferies has forecast 9% rental growth for PRS REIT in 2023, while Berenberg expects continued "strong organic rental growth to result in continued earnings growth, despite increasing finance costs." Jefferies expects shares of PRS REIT to rise by 63% over the next 12 months to £1.14 per share, and Berenberg cut its price target to £0.95 from £1.10.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KSLcom - 🏆 549. / 51 Read more »