Strong earnings and a healthy increase in distributions at childcare landlord Arena REIT were not enough to assuage investors' dismay over the surprise exit of long-serving managing director Bryce Mitchelson.
The stock fell 3.6 per cent during the day to close 10¢ lower at $2.65, after reaching a closing price high on Monday of $2.75.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
