Shares update: British Land vs Landsec on results week

All eyes were on British Land and Landsec this week as the two biggest REITs in the UK reported their full year results. Although both companies ended the week below where they started, British Land was the clear winner. Solid NAV growth of 5.7% alongside considerable leasing activity and a total accounting return of +8.9% all led to a 2.3% jump on the day (slight dips throughout the rest of the week, however, dampened British Land’s overall performance). By contrast, Landsec reported a fall in NAV (for a second consecutive year) to 1,403p, while total returns came to