Investors Monthly August 2018: Property shares – ripe for picking
The dismal performance of the listed property sector year-to-date has no doubt prompted property punters to reassess their investment strategies. However, industry players believe the correction has been overdone: property stocks are now trading at record high yields, with as many as 20 out of the sector’s 50-odd counters offering income chasers yields of between 10% and 18%. That offers value relative to long-term SA government bond yields, which are sitting at around 8.8% (mid-August). Metope investment analyst Kelly Ward comments.