The growth in cash distributions paid out by the property counters announcing June results vary from a high of 38,4% to a low of -33,1% Listed property may well be beating general equities in the total return stakes for the year to date, but the August reporting season reveals a widening performance gap among the JSE's 20-odd property counters. The divergence is expected to become more pronounced over the next six to 12 months, as some sub sectors of the property market - most notably hotels, offices and smaller retail centres - continue to be harder hit by a slowing economy than others. That suggests investors will have to become more discerning in their stock selections. The growth in cash distributions paid out by the property counters announcing June results vary from a high of 38,4% (Fortress Income Fund B) to a low of -33,1% (Hospitality Property Fund B). Though the sector's weighted average growth is still an inflation-beating 7%, some funds disappointed on the...
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