Guide
4 min
Jun 5, 2026
How the share price is set
Who values the buildings, how often, and why the share price moves slowly while the payout comes every month.
Clara Weiss
Risk & compliance
Keeps the fund's reserve, leverage and documents in line with its rules.
2×
/ yr
independent valuations, in spring and autumn
Who sets it
The share price is not set by us. Twice a year an independent valuer prices every building, using leases, repairs due and recent sales on the same streets.
We add up those values, add the fund’s cash, take away what it owes, and divide by the number of shares. That is the price for the next six months.
Why it moves slowly
Buildings are not traded every day, so their value changes slowly. That is why the price only moves after a valuation, never in between.
Your payout works differently: it is the rent collected each month, paid on the 10th, whatever the share price does.
02·L
In this letter
3 takeaways
Key takeaways.
An independent valuer prices every building twice a year.
Price = buildings + cash − debt, divided by the shares.
The payout follows the rent, not the share price.
