Home REIT Partners with Jones Lang LaSalle to Appraise Housing Portfolio
Shorted: Landlord for the homeless Home REIT
Struggling Home REIT has enlisted the services of property firm Jones Lang LaSalle to assess the value of its entire housing portfolio.
Having faced scrutiny since November of last year when short-selling organization Viceroy Research published a report raising concerns about the business, including the valuation of its assets, Home REIT saw its shares drop by over 30% immediately following the report’s publication. The stock hit a record low in December after the company stated that its auditor was reviewing Viceroy’s allegations.
Trading of Home REIT’s stock was suspended in January after the company missed a deadline to release its annual report, citing an unfinished audit.
Home REIT expects Jones Lang LaSalle to complete the valuation of its properties by November. It also stated that the company does not anticipate being able to publish its outstanding accounts until late 2023 at the earliest.
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