Metope In The News

Moneyweb – Arrowhead and Exemplar deliver better than expected results

Despite tough market conditions well before the Covid-19 outbreak in South Africa, JSE-listed real estate counters Arrowhead Properties and Exemplar Reitail posted financial results ahead of expectation this week. Arrowhead, which has a dual A and B share structure, reported distributable income growth of 4.1% to 56.77 cents for its A share. The group also narrowed the distribution per share (DPS) decline of its B share to -7.69%, which translated to 31.46 cents for the half year compared to 34.08 for the corresponding prior period. Metope Investment Analyst Kelly Ward comments on the results.

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Financial Mail: Western Cape property – boring is the only game in town

Growing earnings uncertainty has become the new norm among real estate investment trusts (Reits), but the JSE’s only pure Western Cape-based property play, Spear Reit, still scores fairly high in terms of predictability. The small-cap company, which was co-listed by industry veteran Mike Flax less than four years ago, is one of the few property counters still delivering on its dividend growth promises. Metope Investment Analyst, Kelly Ward, comments.

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Financial Mail: Equites – still riding the e-tail wave

Equites, the JSE’s only specialist logistics Real Estate Investment Trust (Reit), continues to deliver the goods.The warehouse and distribution centre developer is one of only a handful of SA property stocks that can still afford to pay a dividend. Most other Reits are expected to postpone dividends and hold on to their cash instead, as potential losses from Covid-19 lockdown-induced rental holidays, tenant defaults and bankruptcies start to mount. Metope Investment Analyst Kelly Ward comments.

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