Metope In The News

Business Day Property Focus: Which stocks should be on your radar?

The slowdown in dividend growth reported by most South African-focused real estate stocks in recent weeks coupled to SA's economic contraction and weaker rand will no doubt prompt investors to re-look their offshore allocations. A key question for investors is which individual counters among the JSE's bevy of close to 20 pure rand hedge property stocks now offer the best buying opportunities? Metope investment analyst Kelly Ward comments.

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Financial Mail: EPP’s turnaround gains traction

Polish retail property company EPP (formerly Echo Polska Properties) got off to a rocky start when it made its debut on the JSE two years ago as back then, SA investors were clearly not yet buying into the Polish growth story. But there appears to have been a marked turnaround in investor sentiment since early this year. Though the counter is still trading slightly below its listing price of R23.50, it has notched up share-price growth of a hefty 45% from February 5, when it hit a two-year low of R14.40. Metope investment analyst Kelly Ward comments.

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Financial Mail: Why township malls outperform their suburban counterparts

Real estate investors may well be tempted to stash their cash elsewhere in light of the disappointing income and share price performances delivered by JSE-listed property stocks this year. Few SA-based real estate investment trusts (Reits) have bucked the general trend. Fairvest Property Holdings is a notable exception. The company, which owns a R3bn portfolio of more than 40 retail centres that cater mostly for lower-income shoppers in townships and rural areas, last week reported dividend growth just short of 10% for the year to the end of June. Metope investment analyst Kelly Ward comments.

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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.

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Financial Mail: Dividend outlook dims

Shareholders of embattled property stocks Resilient Reit and Fortress Reit (B shares), which have both recorded share price losses of 62% in the year to date, will have to be satisfied with far more subdued dividend payouts than the double-digit growth they have become accustomed to in recent years. However, while the property stocks are only expected to return to inflation-beating dividend growth in 2020, both are starting to reappear on buy lists. Metope investment analyst Kelly Ward comments.    

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Business Day: Listed property hits 21-year low

The listed property sector is having its worst run in 21 years and continues to face myriad challenges, including weak economic growth and uncertainty about land reform, which have deterred institutional investors. However, some analysts believe the upcoming improved financial results season may help to increase interest in the sector. Metope investment analyst Kelly Ward comments.

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SAPOA – Women in Property: Keeping a watchful eye on REITs

In her 30 years in the commercial property sector, CEO of Metope Investment Managers Liliane Barnard has held many positions, including those of Head of Asset Management at Old Mutual Property and independent non-executive director of Pangbourne, Emira and Redefine. “It’s an amazing career,” she says. “You can work for any of the large or small firms that offer a variety of different opportunities, or you can work for yourself. I’m encouraged by the increased number of young women venturing into our industry – their impact on the broader environment is becoming visible in a very positive way." Read the full interview below.

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Business Day: Dipula will size up acquisition opportunities

Diversified real estate group Dipula Income Fund is looking for merger and acquisition opportunities while share prices remain under pressure and smaller property firms struggle to compete in a slow economy. CEO Izak Petersen said the company, which released financial results for the six months to February on Monday, could take advantage of weak conditions in the listed property sector. Investment analyst Kelly Hook comments.

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