Premium tops list of SA property companies

Posted On Friday, 13 November 2009 02:00 Published by eProp Commercial Property News
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JSE-listed Premium Properties is leading the pack as the best performing property company, returning 29,9% to shareholders for the year to date, followed by property loan stock company Vukile, with 24,54% returns.

Paul Duncan Catalyst Fund ManagersCatalyst Fund Managers’ monthly overview, released yesterday, showed that the worst-performing companies were Hospitality, at 18,15%, and Growthpoint at 1,08%.

Premium announced a distribution of 51,9c per unit for the six months ended August 31, which represented growth of distributions of 13,3% on the previous comparable period. Vukile unit holders have entered into agreements with three wholly owned subsidiaries of Sanlam to acquire a portfolio of 13 properties for R775m.

The SA-listed property index recorded a total return of 2,05% for last month. The property loan stock index and property unit trust index recorded total returns of 1,86% and 2,73% respectively over the same period. The historic yield of the SA listed property sector strengthened and ended the month at 8,61%, from 8,67% at the end of September.

For the year to date, the SA-listed property sector had recorded a total return of 11,88%. Catalyst Fund Managers investment manager Paul Duncan said that for investors with a long-term time horizon, listed property offered an attractive historic rolled yield of 8,61% plus the prospect of income growth. “Assuming income growth of about 8% over the next 12 months, the forward yield of the SA-listed property sector would be about 9,30%,” he said.

Last modified on Monday, 28 April 2014 20:10

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