Transcend, the residential real estate investment trust (Reit), collected 95% of its rent in the first six months of 2020, but chose to hang on to cash, which meant its dividend for the interim period fell sharply.

The company which owns a R2.7bn portfolio of more than 25 housing properties in suburbs such as Ferndale and Fleurhof, which attract an average monthly rental of R5,875, is one of a handful of residential-focused funds listed on the JSE...

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