Given that around 54% of StorAge’s property portfolio lies in the UK, this is the likely trigger for the panic and sudden sell-off. Moneyweb keithmclachlan
Following my previous column on Stor-Age Property Reit in October, the share price has done a glorious nothing – which I suppose is not a bad thing considering the pressure local markets have shown in the SA Inc and small cap space. Despite this, last week, Stor-Age’s share price suddenly sank 5% in a day following a miserable update from Equites Property Fund. The latter reported a 21% drop in the valuation of its UK property portfolio , which sent its share price tanking too.
25% starting rate is an effective collapse of 53% in the value of these rental streams, and thus it is no real surprise that the Equites UK property valuations collapsed 21% . In Stor-Age’s last reporting period , the real estate investment trust valued its UK properties at a weighted average cap rate of 6.02%. Already you can see how different this starting point is versus Equites’s 3.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'ANC officials yet to decide on meeting with US ambassador' - SABC NewsAfrican National Congress (ANC) Deputy Chair of the International Relations Sub-Committee, Obed Bapela, says party officials are yet to decide on meeting with US ambassador Reuben Brigety following his comments on the alleged sale of weapons to Russia.
Read more »
EDITORIAL: ANC ‘due diligence’ farceClaims against new Joburg mayor may lead to yet another short term in office.
Read more »
JUST IN: Witness in Meyiwa trial raises objection to live media broadcast of proceedings | The Citizen📨JUST IN: Witness, believed to be a public figure, in SenzoMeyiwatrial ⚽️raises objection to live media broadcast of proceedings. TheCitizenNews Read more⬇️
Read more »
Qualification fraud should be easy to fix - but why isn’t SA doing anything? | The CitizenDegrees confer status that is a public good, but there are so many things wrong in South Africa that will require a lot of effort to fix, writes Richard Anthony Chemaly.🎓 Read the opinion piece below ⬇️
Read more »
JOHANN SLABBER: SA cannot afford to stall its cannabis industrySA was one of the first countries to decriminalise cannabis and we are yet to be seen as a key player in the global cannabis industry
Read more »
Arteta apologises as Arsenal's title hopes crumble - SABC NewsArsenal manager Mikel Arteta began the day still hopeful that his side could yet wrestle the Premier League title away from Manchester City but ended it apologising to the club’s fans. ARSBHA
Read more »