olivLaw · European equity research
HOME REIT plc HOME.L
United Kingdom · London Stock Exchange · Vertical: Listed companies from United Kingdom
HOME REIT plc is a real estate investment company in an orderly managed wind-down, selling its portfolio of homes for vulnerable people with the aim of returning available capital to shareholders. Its relevance now lies in the broad asset sales, loans fully repaid in 2024, and litigation and an FCA investigation still open. The portfolio's value fell to 154.9 million GBP at 31 August 2025.
At the close of 05 Nov 2026, HOME REIT plc (HOME.L) stock was 0.08 GBP (−0.61% on the day), with market capitalisation 64.9 m GBP, beta -27.38, 52-week range 0.00–0.38 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 43.2
- weak (30–45)
- Bollinger (20, 2)
- 0.08 – 0.09
- in the lower half of the band · %B 0.29 · band width 14.3%
- SMA 50 / 200
- 0.09 / 0.21
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.00 / -0.00
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −7.3% | −0.6% | −6.7 pp | — |
| 3 months | −15.5% | −4.2% | −11.3 pp | — |
| 6 months | −4.7% | +4.3% | −9.0 pp | — |
| Year to date | unavailable | +7.5% | unavailable | — |
| 1 year | unavailable | +9.9% | unavailable | +5.8% |
| 3 years | unavailable | +49.8% | unavailable | +26.3% |
| 5 years | −92.8% | +42.8% | −135.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2024 | 2025 |
|---|---|---|
| Revenue | 38.0 m | 21.4 m |
| Revenue YoY | unavailable | −43.7% |
| Net income | -25.2 m | -30.6 m |
| Net income YoY | unavailable | unavailable |
| Diluted EPS | -0.03 | -0.04 |
| Diluted EPS YoY | unavailable | unavailable |
| net % | -66.3% | -143.3% |
| Free cash flow | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Aug 2025
- Cash
- 9.6 m GBP
- Financial debt
- 0 GBP
- Net debt
- -9.6 m GBP
- Equity
- 161.1 m GBP
- Total assets
- 168.0 m GBP
- Debt / equity
- 0.00x
- Current ratio
- 24.43x
- ROE
- -17.4%
- ROA
- -13.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Revenue | 38.0 m | 21.4 m | esef· 18 Mar 2026verified |
| Operating income | -21.2 m | -30.2 m | esef· 18 Mar 2026verified |
| Interest expense | 3.6 m | 398.0 k | esef· 18 Mar 2026verified |
| Pre-tax income | -25.2 m | -30.6 m | esef· 18 Mar 2026verified |
| Income tax | 0 | 0 | esef· 18 Mar 2026verified |
| Net income | -25.2 m | -30.6 m | esef· 18 Mar 2026verified |
| Diluted EPS | -0.03 | -0.04 | esef· 18 Mar 2026verified |
Balance sheet · GBP
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Cash | 6.2 m | 9.6 m | esef· 18 Mar 2026verified |
| Receivables | 3.8 m | 3.2 m | esef· 18 Mar 2026verified |
| Current assets | 54.8 m | 168.0 m | esef· 18 Mar 2026verified |
| Total assets | 291.1 m | 168.0 m | esef· 18 Mar 2026verified |
| Accounts payable | 8.4 m | 6.9 m | esef· 18 Mar 2026verified |
| Short-term debt | 91.0 m | 0 | esef· 18 Mar 2026verified |
| Current liabilities | 99.4 m | 6.9 m | esef· 18 Mar 2026verified |
| Total liabilities | 99.4 m | 6.9 m | esef· 18 Mar 2026verified |
| Equity | 191.7 m | 161.1 m | esef· 18 Mar 2026verified |
| Shares outstanding at year end | 791.4 m | 791.1 m | esef· 21 Apr 2026derived |
Cash flow · GBP
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 27.1% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 64.9 m GBP
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
27% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -11.9% | 17 (vs peers) | 38% |
| Net margin · Quality | -143.3% | 6 (vs peers) | 23% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -76.0x | 0 (on a fixed band) | 23% |
| Current ratio · Balance sheet | 24.4x | 100 (on a fixed band) | 15% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality13/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
HOME REIT PLC (HOME.L). Latest full fiscal year: 2025; data up to 2025-08-31.
Figures computed from the financial statements: revenue 21.4 m GBP in 2025; YoY growth -43.7%; net margin -143.3%; ROE -17.4%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 24.4x
What contradicts it
- ROIC: -11.9%
- Net margin: -143.3%
- Interest coverage: -76.0x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| HOME.LHome REIT PLC | 64.9 m | — | -17.4% | -143.3% | −43.7% | −78% / unavailable |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
1- and 3-year price returns: for HOME.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (GBP)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
HOME REIT plc is a real estate investment company in an orderly managed wind-down, selling its portfolio of homes for vulnerable people with the aim of returning available capital to shareholders. Its relevance now lies in the broad asset sales, loans fully repaid in 2024, and litigation and an FCA investigation still open 1. The portfolio's value fell to 154.9 million GBP at 31 August 2025 1.
SWOT
Strengths
Weaknesses
Opportunities
- A bulk sale of a large number of properties, if negotiations conclude, could accelerate capital distribution 1.
- Recovery of some receivables or damages from litigation could add value for shareholders, if financially viable 1.
- Restoration of the listing could improve shareholder access to information and trading 1.
Risks
- Delay in returning capitalhigh
Shareholders could receive smaller sums or later than expected if sales or litigation take longer 1.
- Regulatory investigationhigh
The Financial Conduct Authority investigation, opened in February 2024, could lead to sanctions or additional costs 1.
- Litigation with former service providers and shareholdersmedium
Court actions, including those against former managers and other parties, can be costly and uncertain in outcome 1.
- Non-payment of rentmedium
Tenants who do not pay their debts could reduce receipts and the value of remaining assets 1.
- Trading suspensionlow
The absence of trading could limit share liquidity and transparency for investors until the listing is restored 1.
Investment thesis
What would need to be true (bull case)
- If the bulk sale of the portfolio completes at values close to valuations, available capital could be returned to shareholders faster than under individual sales 1.
- Full repayment of debts in 2024 removes a major financial risk and leaves a simpler capital structure 1.
- Recovery of some sums from litigation or from parties involved could add value, if proceedings produce favourable results 1.
What would break the thesis
- The portfolio's value fell considerably from the prior year, and NAV per share declined by 16% 1.
- If negotiations with the main buyer fail, assets could be sold at auction at lower prices and with additional costs 1.
- The regulatory investigation and open litigation could consume remaining capital and delay any distribution 1.
What to watch
- Completion of the exclusivity transaction for about 700 properties2026
- Filing of the 2025 interim financial statements and request for restoration of the listing2026
- Progress of the regulatory investigation and litigation against former service providersnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
According to the annual report for the year ended 31 August 2025, the group aims to realise all portfolio investments in an orderly manner, with the ultimate goal of returning cash to shareholders after settling all amounts due to the lender 1. The company will not make new investments or take on new borrowings 1. Dividends have been suspended since February 2023 1.
Operations are outsourced to AEW UK Investment Management LLP, appointed alternative investment fund manager and investment manager in August 2023, which manages the assets and sales 1. The company has no full-time employees 1. Shares have been suspended from trading on the London Stock Exchange since 3 January 2023, and the company intends to apply for restoration of its listing after filing overdue financial statements 1.
Market context
The company operates in the British social housing and housing-for-vulnerable-people rental market, where tenants often have limited financial capacity, leading to unrecoverable rent debts 1. The investment market for such assets is narrow, and prices obtained depend on property condition and tenant quality 1.
Demand for assets of this type from institutional investors was sufficient to attract offers for the whole portfolio in February 2025, but completing transactions remains conditional on ongoing negotiations 1. For properties without viable tenants, the company considers sale on the open market or by auction 1.
Trends
- Orderly portfolio liquidationtailwind
Asset sales and full repayment of loans in 2024 reduce debt exposure, which could simplify returning capital to shareholders if sales complete at values close to valuations 1.
- Non-payment of rent and credit lossesheadwind
Tenant debts have largely been written off as uncollectable, and collection difficulties may continue to erode the value of remaining assets 1.
- Administration and legal costsheadwind
The total expense ratio rose to 11.1% of NAV, although absolute expenses fell alongside a lower NAV; legal and investigation costs could consume available capital 1.
- Investor interest in the portfoliomixed
Offers for the whole portfolio were received in February 2025, and exclusive negotiations with Patron Capital suggest appetite for the assets if the transaction completes 1.
Competitive position
The company competes for assets with other institutional investors and social housing operators, particularly for higher-quality properties 1. Sale prices are influenced by competition between portfolio buyers and those buying individual properties at auction 1.
A relative advantage could be the ability to sell a large portfolio in bulk if the negotiation with Patron Capital concludes, though the risk of selling the remaining assets individually at auction persists 1.
- Patron Capital
Investor with which the company entered exclusivity for the sale of about 700 properties; not US-listed 1.
- Registered social housing providers
Social housing providers that could buy or take over properties through bilateral transactions 1.
- Institutional real estate investors
Funds that submitted offers for the whole portfolio in February 2025 1.
- Property auction buyers
Individual investors and companies buying remaining properties at auction 1.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202518 Mar 2026
- Annual report 202521 Apr 2026
Sources
- [1] Annual report, fiscal year ended 2025-08-31 (ESEF) · SEC / HOME REIT plc · 31 Aug 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.