Metope In The News

Investors Monthly November 2018 – Spear Reit: Western Cape focus has been a help in tough times

Finding a property stock that is still able to deliver a dividend growth north of 10% is near impossible. Most real estate counters have seen distribution growth slow to around 5% - 6% as a depressed economy and dwindling consumer spending eat into earnings. In fact, shareholders of quite a few property stocks will have to be satisfied with zero or negative growth in dividend payouts this year. However, Spear Reit, the Cape focused property play listed on the JSE two years ago, is an exception. Metope investment analyst Kelly Ward comments.

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Business Day: Liberty Two Degrees bucks weak property trends

Liberty Two Degrees (L2D), part-owner of Sandton City, Melrose Arch and Eastgate, looks set to round off a good 2018 with a strong festive season, as careful management of its prized assets has led to very low vacancies across its portfolio. Metope investment analyst Kelly Ward comments.  

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Financial Mail: Liberty Two Degrees – new look, fresh potential

Despite co-owning what is widely regarded as two of Gauteng’s most prized retail assets - Sandton City and Eastgate Shopping Centre - Liberty Two Degrees (L2D) has had a disappointing run since listing nearly two years ago. The share price has been on a steady decline since the Liberty Group brought a portion of its property assets to the JSE via L2D in early December 2016. However, loyal investors are likely to be rewarded for their patience over the next few years following the successful completion of a major restructuring exercise, through which the company began trading in its new guise as a corporate real estate investment trust (Reit) last week. Metope investment Analyst Kelly Ward comments.  

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Business Day: Sandton City fully let for the first time in 45 years

Showing there is still life yet in bricks-and-mortar retail, Sandton City, one of SA’s premier shopping malls is now fully let for the first time, having spent the past three years signing up more luxury brands than any other centre in SA. The 45-year-old super regional centre, which has 147,940m² of retail and leisure space, has zero vacancies, while other superregional centres are averaging 5.8%, according to the SA Property Owners’ Association. Metope investment analyst Kelly Ward comments.

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