The PRS REIT (LSE: GSF), is a largeBritishinvestment trust, operating in the Private Rented Sector (PRS), which is focused on creating a portfolio of family homes for rent. The company is managed by Sigma PRS, which holds an agreement to manage the portfolio to 2029.[1] It is listed on theLondon Stock Exchange and is a constituent of theFTSE 250 Index.[2]
The company was launched through aninitial public offering with financial backing from theHomes and Communities Agency in 2017.[3] Stephen Smith was appointed chair at the time of the launch.[4]
In April 2023, the company confirmed that it had completed 5,000 houses, making it the holder of the UK's largest portfolio of build to rent single family houses.[5]
However, in August 2024, a group of shareholders holding 17.3% of the company, who were concerned about the large discount of share price to net asset value, sought an extraordinary meeting seeking to remove the chair and to instigate a strategic review.[6][7][8]
In September 2024, the company announced that Smith would step down and Geeta Nanda will become interim chair in December 2024. As a result of this, the dissenting shareholders withdrew their request for an extraordinary general meeting.[9][10][11]