READY FOR TURNAROUND
Hyprop hard at work to regain past glory
Hyprop Investments has taken steps to regain its status as one of the most reliable dividend-paying and capital growth-generating listed real estate investments in 2018, having managed tenant churn over the past few months. The high-end shopping mall owner has filled the space vacated by Stuttafords, which folded in 2017. Its plans to list its east European portfolio are also gaining momentum. CEO Pieter Prinsloo said the real estate investment trust (Reit) could be primed for a turnaround after a tough 2017. The stock’s total return including dividends was only 5.92% for 2017. This was while the listed property sector’s return was 16.18%. The Hyprop share price fell 1.58% in 2017, having recovered towards the end of the year after dropping nearly 20% by the middle of October. Cyril Ramaphosa’s ANC presidency victory did result in most property stock prices climbing in December. Property analysts said the pressure on Hyprop’s share price reflected tough trading conditions in SA’s re...
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