Why Nepi Rockcastle remains on stock-pick lists
Nepi Rockcastle isn’t dishing out dividends — for now — but remains on stock-pick lists
Nepi Rockcastle shareholders hoping that the Eastern European property arm will pay a cash dividend for the June reporting period will no doubt be sorely disappointed.
Like most mall owners worldwide, the JSE’s largest real estate investment trust (Reit) hasn’t been able to dodge the Covid-19 bullet. The company, which owns more than 50 shopping centres across nine Central and Eastern European (CEE) countries, last week reported its first loss ever as two-month lockdown-related store closures and rental concessions ate into profits.