Pick of the Month: Hammerson
Hammerson has been one of many UK-focused mall owners hit by negative investor sentiment, as online shopping gained traction and Brexit concerns put pressure on real estate valuations
Hammerson shareholders are no doubt still licking their wounds after a highly dilutive rights issue and capital reorganisation this month.
The latter led to a consolidation of one share for every five held. It made the UK and Western European-focused mall owner’s share price plunge to new lows of R6.40 (by September 10), taking the year-to-date loss to 97%.