Business
Primewest (ASX:PWG) share price falling despite asset addition
The Primewest Group Ltd (ASX: PWG) share price is slipping today on news the property manager has added two new assets to its portfolio. At the time of writing, the Primewest share price is trading down 1.6% at $1.23.
It has been a volatile year for the real estate investment trust (REIT) which has suffered as a result of the coronavirus pandemic. However, the Primewest share price has since rebounded and is trading 10% higher for the year, outperforming the S&P/ASX 200 Real Estate Index (ASX: XRE).
What’s the deal today?
Primewest announced it has added two regional shopping centres to its portfolio with total assets of $92 million. The company has acquired the asset management rights for Chester Pass Mall in regional Western…
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