08:38 AM EDT, 06/03/2025 (MT Newswires) -- BSR Real Estate Investment Trust (HOM-U.TO and HOM-UN.TO) on Tuesday provided a leasing update in advance of its participation in Nareit's REITweek 2025 Investor Conference.

Excluding short term leases, during Q2 to-date, same community rental rates for new leases and renewals decreased 4.5% and increased 1.7%, respectively, for a blended decrease of 0.9%. Excluding short term leases, for May 2025 same community rental rates for new leases and renewals decreased 3.7% and increased 2.1%, respectively, for a blended decrease of 0.3%.

BSR said this performance is "consistent" with the REIT's stated view that the unprecedented levels of new supply are being effectively absorbed, which will lead to continued improvement in leasing spreads.

Shares of the company closed down 0.4% at $17.98 on Monday on the Toronto Stock Exchange.