U.K. REITs Have Been “Disproportionately Punished,” Says UBS — Market Talk

0830 GMT U.K. real estate investment trusts are “better positioned than the market credits,” says UBS, and they “have been disproportionately punished” by the U.K. vote to leave the EU. Identifies Land Securities as the “best positioned” because the company has been preparing for the Brexit surprise for two years–lowering leverage and booking little downside risk. Clearly, investment and, to a lesser extent, leasing transactions are on hold, the bank says, adding that uncertainty and volatility is likely to stay. (olga.cotaga[a]wsj.com)

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