Home Reit shares nosedived by 22% to 60p after it said a report issued by a Delaware-based investment firm was false.
According to a statement from the property acquisition group, the report was “inaccurate and misleading in its comments about the company, being based on mistaken assumptions, misinformed comments, and disputable allegations.”
Viceroy, the short-selling specialists, questioned Home Reit's financial health in a 27-page report.
Specifically, Viceroy raised concerns over Home Reit's receivables, quality and diverisity of its major tenants.