LISTED property loan stock heavyweight Hyprop Investments was the best performer of listed property groups in terms of returns to investors last month, says the latest overview by Catalyst Securities.

Property loan stock boosted earnings for the half-year to June on the back of an upswing in consumer spending that supported its property portfolio in the retail sector.

Property loan stock Hyprop Investments today released results for the six months to June 2004 showing 82% growth in operating income.

Demand for units will push up prices

Acquisitions, low rates boost performance

Property group Hyprop (HYP) announced a 376 million rand rights offer, which has been split into a 124.65 million rand raised by issuing nine million shares, and with the balance offered to existing shareholders at a price of 13.50 per unit in the ratio of 19 units per 100 held. The rights offer will not be underwritten.

PROPERTY loan stock heavyweight Hyprop Investments said on Friday it would raise capital of up to R376,04m by issuing 9million combined units for cash and implementing a rights offer.

Nedcor: sale of the Century

THE listed property sector recorded a positive performance last month with "little guidance" from the general equities market, bond yields and the recent Reserve Bank monetary policy committee meeting where no further interest rate cut was announced, say investment analysts at Catalyst Securities.

HIGHER retail rentals and low interest rates have helped some listed property companies to turn in profits well ahead of forecasts.