The investor in social housing announces it will begin a share buyback programme for up to £5.0 million. “The board believes that the discount to net asset value per ordinary share at which the company’s shares currently trade materially undervalues the company and its portfolio,” it explains. It believes the buyback programme will increase both the Net Asset Value (NAV) and its dividend cover. The REIT says it already has approval to repurchase around 40.3 million shares, which was granted by shareholders at its 2022 annual general meeting. It will also seek further approval at the next annual general meeting.