RMH says negative sentiment could delay recovery of SA’s property stocks
Negative sentiment towards SA stocks has prompted some to sell assets to boost their balance sheets, leading to oversupply, RMH says
19 March 2021 - 09:56
UPDATED 19 March 2021 - 11:45
Property-focused RMB Holdings (RMH) says SA’s relatively slow vaccine rollout and negative sentiment towards local property stocks could delay their recovery from Covid-19, further warning this could also hold up its plans to unlock value for shareholders.
Investor caution towards listed property companies has put pressure on their loan-to-value (LTV) ratios, with a number moving to sell assets, prompting oversupply, RMH said during the release of results for the six months to end-December...
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