Emira Property Fund expands its horizons
Investors looking for exposure to the lucrative US real estate market should take a fresh look at property stock Emira
07 November 2019 - 05:00
Geoff Jennett’s strategy — to introduce new revenue streams to bolster Emira Property Fund’s mix of SA office, retail and industrial buildings — is starting to pay off.
The company previously lost favour among fund managers due to its overexposure to the struggling office market, which led to a 2% drop in dividend payouts in the 2017 financial year. Jennett, a CA and former investment banker, took the helm at Emira four years ago and has made impressive headway in turning the company around. Dividends are up 3.1% for the year to June 30 — no easy feat given the deteriorating state of the SA economy...
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