Notorious UK short seller Viceroy Research launches attack on homeless Home Reit owner
A heated argument has erupted between one of the country’s most notorious short sellers and a landlord who provides housing for the homeless.
Shares of Home Reit listed on the FTSE 250 fell nearly 20% after short seller Viceroy Research launched an attack on the company, making claims about its financial stability.
Viceroy is run by British short seller Fraser Perring, who accused Wirecard of fraud years before the German payment processing company collapsed.
Attacked: Landlord Home Reit works with many charities to provide housing for the homeless
Perring also took aim at Tesla this year, selling the stock short in January, saying the automaker is overvalued relative to Toyota and Volkswagen. Tesla stock has since fallen 50%.
In a 27-page report titled No Place Like Home REIT. . . Fortunately, Perring questions the company’s business model and its ability to collect rent from its tenants.
He alleges that many of the tenants Home Reit works with – most of which are charities – to provide housing for the homeless “can’t pay rent, haven’t paid rent, are under administration, are managed by bad actors or simply don’t provide social services. housing service”.
The report concludes: “Home Reit tenants are raising questions about the financial viability of Home Reit’s portfolio, as well as the suitability of this business.
We strongly believe that these are not the people who should be tasked with caring for the vulnerable, nor should they be entrusted with your tax dollars to do so.
But Home Reit said the report was “inaccurate and misleading”, adding that it had not been approached before the report was published.
A spokesperson said: “The company will issue a full and detailed response demonstrating factual inaccuracies and selective use of information in a timely manner.”