FoggyIsle.XYZ | Market's view on Prs Reit

A stock watcher points out that the average rent charged on the PRSR portfolio is only 23% of the average gross income of tenants, making it a defensive investment with a more secure dividend.
There are discussions about the benefits of investing in PRSR due to the expected decrease in interest rates in the UK, which could positively affect the share price.
Concerns are raised about the sustainability of PRSR’s business model given current interest rates and the high cost of debt, particularly the £102m debt at 6.04% taken last year, which is considered a mistake as it dilutes earnings.
It is debated whether PRSR should raise more equity or sell assets, with some suggesting the current share price does not justify raising new equity.
The high management fees charged by PRSR are criticised, especially the fee structure which charges against uncompleted homes and cash elements within NAV, seen as excessive.
The valuation method of PRSR is questioned, with some watchers suggesting that proving the NAV through actual sales could help narrow the discount on the share price.
There is a suggestion that PRSR could consider selling the entire portfolio and winding up as it might be the best outcome for shareholders looking for income, given the stronger yields available in the market.
Recent partnerships by PRSR to build more properties are viewed with concern, especially regarding the impact on smaller shareholders and the potential dilution of shares.
The option of PRSR exploring different strategic alternatives, including selling some properties or the entire portfolio, is discussed as a way to prove NAV and potentially improve shareholder value.