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The JSE’s only pure logistics play has by and large dodged the Covid bullet.  It’s one of less than a handful of property stocks whose share price is already back to pre-pandemic highs of R20-R22 a share. In contrast, the listed property sector as a whole is still trading 27% below its early-2020 levels.

Unlike most JSE-listed real estate investment trusts (Reits) which either slashed or suspended dividends over the past two years, Equites Property Fund continues to grow payouts. For the year to end-February 2021, dividends were up 2.4%...

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