BlackRock increases stake in PRS REIT to over 6%

LONDON - BlackRock (NYSE:BLK), Inc., the global investment management corporation based in Wilmington, USA, has raised its holding in the UK-based PRS REIT PLC, a real estate investment trust, crossing a significant threshold in voting rights and shareholding. The transaction occurred on Tuesday, with the company notifying PRS REIT on Wednesday.

The investment giant now holds a total of 6.28% of the voting rights in PRS REIT, which is a combination of direct voting rights attached to shares and voting rights through financial instruments such as securities lending and contracts for difference (CFDs). The direct voting rights account for 5% of the shares, while financial instruments make up the remaining 1.28%.

BlackRock’s acquisition resulted in a direct holding of 27,502,108 shares in PRS REIT, as per the latest notification. This marks an increase from the previous notification, where BlackRock held 4.9% of direct voting rights and 1.38% through financial instruments, totaling the same percentage of 6.28%.

The details of the financial instruments show that BlackRock has the potential to acquire additional voting rights through securities lending amounting to 0.53% and through CFDs representing 0.75% of the voting rights.

The notification also outlined the full chain of controlled undertakings through which BlackRock manages these voting rights and financial instruments, spanning various jurisdictions and subsidiaries, indicating the complex structure of the investment firm’s operations.

The disclosure of this information is in accordance with regulatory requirements and is intended to provide transparency about significant changes in share ownership. The news of BlackRock’s increased stake in PRS REIT is based on a press release statement and reflects the investment firm’s confidence in the real estate investment trust’s market position.

Investors and market watchers often monitor such disclosures closely, as changes in significant shareholdings can influence a company’s stock performance and provide insights into institutional investors’ strategies. However, the broader implications of BlackRock’s increased stake for the market or PRS REIT’s future performance were not disclosed.

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