Shareholders in Land Securities, the UK’s biggest REIT, will today vote on whether to buy back shares, after a slump in the share price. Daily Telegraph. The Times
Major property stocks have fallen more than 20% to trade below their net asset values as investors anticipate a downturn in the sector. British Land has already announced a £250m buyback.
Land Securities chief executive Francis Salway said: ‘The buyback would be tactical rather than strategic, meaning we haven’t set any precise target for the number of shares. We are prepared to accept earnings