Still on everyone’s buy lists, analysts reckon Redefine’s ripe for a market rerating.
Redefine Properties, one of the JSE’s biggest property guns, appeared on multiple stock-pick lists earlier this year. That came on the back of a double-digit dividend yield and management making impressive strides to streamline the portfolio and repair an overstretched balance sheet.
Yet the real estate investment trust is still trading at a 43% discount to NAV. And despite delivering a decent set of results this week — distributable income is up 26% for the year to August — there’s been little movement in the share price...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 TimesLive Premium.
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