Investment Week has a story this morning – ‘The circle is collapsing’: How a demolished house in Lancashire uncovered Home REIT’s broken business model – that details some frankly astonishing due diligence failings at Home REIT. You may have to register to read the article but here is a link to it.
[I have been reading similar stories on the trust for weeks now and the picture is unambiguously awful. I am a shareholder in Home REIT – acquired for the same reasons as most investors in the company I should think, the chance to do something to alleviate the homelessness problem in the UK while earning a reasonable dividend yield. This morning, I finally feel compelled to join one of the legal cases against the company. The failures here seem criminal to me and I feel that a number of people should be held accountable for them, James Carthew]
HOME : New article illustrates extent of Home REIT manager’s failings