Listed property woes continue with Nepi Rockcastle report
The JSE-listed company, which owns more than 50 shopping centres, saw its share price lose 14% on Wednesday
South Africans invested in listed property will question whether they should stay invested, given that 2018 has been the worst in 20 years for the sector in terms of total returns. Add to that the volatility of Nepi Rockcastle's share price this week. The JSE-listed company, which owns more than 50 shopping centres in nine countries in Central and Eastern Europe, with its largest assets in Romania, saw its share price lose 14%, or R9bn, on Wednesday before gaining back almost all of the losses on Thursday and Friday. The fall followed a report by Viceroy Research, which criticised Nepi's profit calculations, and the recovery came after Nepi released a detailed response. Its asset base is worth more than €5.3bn (about R82.8bn). Meanwhile, the all property index, which includes all property groups listed on the JSE, had lost 23.4% by the end of Thursday. This included dividend and share price returns. This means investors - many of them pensioners who invested in listed property becau...
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