It seems that investors have finally regained — albeit tentatively — an appetite for property stocks. The JSE’s listed property sector has staged a 17% rebound so far this month, with some counters, most notably those focused on retail, up more than 40%. A better-than-expected recovery in foot count and trading densities reported since lockdown restrictions started being eased in June must be helping. Metope investment analyst Kelly Ward comments.
Arrowhead Properties’ turnaround plan – launched three years ago – could not have been better timed. Now, as the diversified real estate investment trust (Reit) and South Africa’s broader Reit sector faces arguably the worst market conditions due to the Covid-19 crunch, Arrowhead is delivering dividends and is well-placed to weather the storm. Investment analyst at Metope, Kelly Ward, comments