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.