The share price of blue-chip mall owner Hyprop Investments could soften further over the next few weeks, analysts warn THE share price of blue-chip mall owner Hyprop Investments, which counts Rosebank Mall and Hyde Park Corner in Johannesburg and Canal Walk in Cape Town among its bevy of up-market shopping centres, could soften further over the next few weeks, analysts warn.The stock, a long-time favourite among property punters and one of the sector’s top performers over the past five years (in terms of share price and dividend growth) is down around 25% over the past three months.That’s wiped off R10bn of its market cap and is well ahead of the 10% drop recorded by the SA listed property index over the same time. Some suspect that the aggressive sell-down of Hyprop shares has been led by foreign investors who are put off by the rand’s decline.Avior Capital Markets property analyst Adrian Jardine says: “We think the sell-off has been mostly driven by foreign investors who view Hypr...
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