Property group confident in its streamlined nature and Western Cape focus
Spear Reit, the JSE’s only Western Cape-focused landlord, says its high-quality assets and regional focus are paying off in terms of collections during Covid-19, with the group upping its payout ratio by five percentage points for its half-year to end-August.
The company, which owns a property portfolio comprising of 32 assets worth R4.55bn, upped its interim distribution by 12.66% to 33.06c — a R67m payout — citing the resilience of its assets, tenants and hands-on management...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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