REAL ESTATE
How Equites Property Fund left peers far behind
Group reports double-digit dividend growth on rentals, sound management and acquisitions
Equites Property Fund, which owns industrial property in SA and the UK, has impressed investors yet again with financial results that showed double-digit dividend growth while its peers have struggled to keep up with inflation. In the six months to August, Equites grew its dividend 11.7%, due to strong rental growth, sound management and a number of well-timed acquisitions. The real estate investment trust has been a hugely successful listing since it joined the JSE in June 2014, expanding its assets from R1bn to R10.1bn over that time, and achieving an annualised total return of 24.8% each year. It has also expanded into the UK in the past couple of years, with its investments there making up about 20% of its annual revenue in the reporting period. CEO Andrea Taverna-Turisan said he had nearly realised his vision of owning high-end distribution centres only. This was on track as the company had five office buildings and some small industrial properties to sell during the next year ...
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