Shorted: Landlord for the homeless Home REIT
Struggling Home REIT has hired property firm Jones Lang LaSalle to value its entire housing portfolio.
The landlord for the homeless has been under scrutiny since November last year when short-seller Viceroy Research published a report that raised concerns about the business including the valuation of the company’s assets.
Shares slumped more than 30 per cent immediately after the report before hitting a record low in December when the company said its auditor was reviewing Viceroy’s allegations.
The stock was suspended from trading in January after Home REIT missed a deadline to publish its annual report, citing an unfinished audit.
Home REIT said JLL would complete the valuation of its properties by November. It added: ‘The company does not expect to be in a position to publish its outstanding accounts until late 2023 at the earliest
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