Activist demands probe at Home REIT claiming the landlord for the homeless misled investors
An activist shareholder has written to the financial watchdog to demand it investigate whether Home REIT misled investors.
In a letter to the Financial Conduct Authority, The Boatman Capital – which has been pushing for an overhaul of Home REIT – said the troubled homeless landlord’s backers have been ‘badly burnt’ by the company.
Boatman claimed a reason for this was its ‘failure to provide complete and accurate information to the market’.
Probe call: Landlord for the homeless Home REIT has been accused of misleading investors
Home REIT claimed it invested in ‘high quality’ accommodation for vulnerable people, including the homeless and domestic abuse victims, when it made its debut on the market in 2020.
But it has been embroiled in crisis since November last year when investigative financial research group Viceroy Research published a report questioning its business model.
It triggered a domino effect that saw Home REIT delay its annual results, which remain unpublished.
The company’s share price was suspended at the start of this year as it remains locked in a series of disputes with tenants about the state of its properties.