The listed property sector has experienced the worst volatility in its two-decade history over the past six weeks. It had been the best, or close to the best, performing asset class for about five years, but is losing trust among investors. Much of the panic among them has been around the Resilient stable of companies. Their market values have fallen, which has had a contagion effect in a sector worth R780-billion. On Thursday the news got even worse for Resilient and its associate Fortress B in particular. Announcements put the two property stocks under cautionary and sent their share prices into freefall. Resilient plunged 17% and Fortress dropped 14%, before both settling about 10% lower. On Friday, Resilient ended trade 2% lower and 54.68% down for the year at R68.50 a share. Fortress B shares lost 3.55% on the day and were down 63.32% for the year at R15.48 a share. Fortress A shares, which tend to trade less often than Bs, were down 1.25% and 12.72% year to date at R16.20. The...

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