triple point social housing reit plc shares rose tuesday after it said it intends to buy back up to 5 million pounds 62 million of its shares and proposed a sale of a portfolio of properties shares at 0813 gmt were up 44 pence or 91 at 527 pence the realestate trust said that broker stifel nicolaus europe ltd will purchase the shares independently on behalf of the company triple point said it currently owns a portfolio of 497 properties across the uk focused on delivering specialized supported housing the company said it believes its share price trades at a discount to net asset value that materially undervalues it and any capital from a sale from the portfolio is expected to be returned to shareholders through a buyback extension we expect the sale of a portfolio of properties subject to market conditions and pricing to deliver shareholder value and are confident that at current share price levels the net impact of the share buyback program will be accretive to the companys nav and will benefit dividend cover chair chris phillips said the company didnt say how much of the portfolio it intends to sell