UPDATE: PRS was sold to Waypoint Asset Management in late 2025 at around 115p per share.

PRS REIT (ticker: PRSR) was launched in 2017 with the aim of owning a portfolio of new-build homes for the UK rental market (often referred to as build-to-rent or BTR). Its current target is to own 5,700 homes and it is within touching distance of that now with around 4,800 homes across 68 sites and several hundred more in various stages of construction. However, progress since PRS's IPO has been slower than expected, firstly due to planning delays and then the pandemic. The initial long-term dividend tar...