James Carthew: Custodian captures investors’ attention
A cloud still hangs over the likes of Land Securities (LAND) and British Land (BLND), whilst Intu Properties (INTU), the shopping centre specialist, is hitting new multi-year lows. However, there is a clear distinction between these older, self-managed real estate investment trusts (Reits) and the newer, externally managed Reits. The wobble that hit the property sector in the wake of the EU referendum seems to have been shrugged off by the newer funds. They are not quite at their share price peaks but many are not far off. One of these is Custodian Reit (CREI).