SHARE PRICES FALL
Analysts scrutinise Resilient results after ‘Viceroy hit’
Resilient group of companies under the spotlight
Analysts are studying financial results of the Resilient group of companies and other disclosure following the collapse of the share prices last week. The drop in the share prices came after rumours that US company Viceroy Research may release a scathing report on Resilient’s finances. This led various hedge fund managers who suspected the company discussed in the report to be Resilient, or a member of the stable, to sell stocks in the anticipation that the report would find fault with the companies. The members of the stable include Resilient Reit, Nepi Rockcastle, Fortress Income Fund and Greenbay Properties, and the mass sales caused their respective share prices to fall. The share prices have since stabilised but are yet to recover last week’s losses. Last week, Resilient Reit CEO Des de Beer said his group’s disclosure was second to none in the listed property sector and that all members of the stable were on track to meet their dividend growth forecasts. Garreth Elston, an ana...
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