Shopping centre specialist Hyprop Investments has been the second-best-performing stock on the FTSE/JSE South African Listed Property index (SAPY) this year to date. The share price of the real estate investment trust (Reit), which released its financial results on Friday, has climbed about 9.54% so far. It continues to get the most out of its domestic property portfolio, which includes some of the best malls in SA. Rebosis Property Fund is the best-performing, with 11.59% share price growth. Hyprop, which has market capitalisation of R31bn, is trading at a yield of about 5.2%. This is close to the SAPY index, which is trading at an historic yield of about 5.97%. Hyprop reported it had grown its dividend 16.6% in the six months to December last year compared with the six months to December a year before. This is despite retail sales being under pressure. The Reit’s blue-chip malls include Johannesburg’s Rosebank Mall, Hyde Park Corner and The Glen and Cape Town’s Canal Walk. Hyprop ...
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