Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.
Rightmove Demoted to FTSE 250 After Share Price Decline
Rightmove has begun trading as a FTSE 250 company after losing its place in the FTSE 100, following a sustained decline in its share price over the past year. The property portal’s shares closed at 417.9p on Friday, down 1.35% on the day and approximately 2% over the week, ahead of the index reshuffle taking effect at Monday’s market open.
The stock has fallen almost 20% since the start of the year and nearly 46% over the past 12 months. Rightmove’s current market value stands at around £3.1bn, down from a peak of approximately £6.7bn in 2021. The company originally listed on the London Stock Exchange in 2006 with a market value of around £425m.
The demotion to the FTSE 250 reflects index ranking rules and is expected to trigger portfolio adjustments by funds that track the FTSE 100 and FTSE 250 indices. Despite the share price decline, Rightmove continues to dominate the UK property portal market. In May, the company stated it accounted for more than 80% of consumer time spent on UK property portals compared with its main rivals.
Investor sentiment has been affected by several recent developments, including the announcement of a £60m artificial intelligence investment programme, pressure from activist shareholders, and a £1.5bn legal claim filed earlier this year. Rightmove’s valuation has also come under pressure since it rejected four takeover approaches from REA Group in 2024, the highest of which valued the company at £6.2bn. Following REA’s withdrawal, the share price fell sharply and has remained below the level implied by the final offer.
Rightmove has maintained its guidance for revenue growth of 8% to 10% in 2026 and expects operating profit growth of between 3% and 5% as it increases investment in artificial intelligence and new products. The company is next due to update the market when it publishes its half-year results on 31 July.
Source: PropertyWire