Hammerson Hmso: British Landblnd and Dollar Terms

hammerson hmso: The FTSE NPRA/NAREIT UK Index is down 15.63% in British pound GBPUSD, -0.1754% terms for the year through July 11, with most of that decline coming over the last month, according to Market Watch. Meanwhile, REITs including British LandBLND, +0.94% , Derwent London DLN, -0.66% , Great Portland Estates GPOR, -0.38% , Hammerson HMSO, +0.28% , and Land Securities LAND, +0.47% down anywhere from 13% to 24%. Moreover, the declines have been more severe when measured in U.S. dollars DXY, +0.17% because of the pound slide. Funds that invest directly in property have frozen redemptions, but more liquid shares of publicly traded REIT companies have tumbled as well in Brexit wake. The index 16% swoon amounts to a 29% loss in dollar terms. In fact, after reducing the fund investments in the U.K. over the past year, Dobratz and co-managers Michael Winer and Jason Wolf are REIT shopping again. Company1-Yr Return % through July 11, 2016 British Land-21.92Derwent London-24.14Great Portland Securities-15.15 Data source: Morningstar UK So are U.K. REITs now a bargain Ryan Dobratz, portfolio manager of Third Avenue Value Real Estate Fund, TAREX, -0.10% contends that they are. (news.financializer.com). As reported in the news.