V&A Waterfront owner, Growthpoint Properties annual income slumps 10%
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GUEST – Estienne de Klerk - Growthpoint Properties South Africa CEO
SA’s largest primary listed real estate investment trust (Reit), Growthpoint Properties, says high interest rates globally will remain a challenge into FY 2025, weighing on its distributable income per share (Dips).
The group flagged that its Dips for the current financial year are expected to decline by up to 5% in a release of its annual results for the year ended 30 June 2024 on Wednesday.
Growthpoint’s comments come despite its share price rallying strongly in recent months, due in large part to market expectations around interest rate cuts. Reits, which are highly leveraged by their nature, stand to benefit from rate cuts.
SA’s largest primary listed real estate investment trust (Reit), Growthpoint Properties, says high interest rates globally will remain a challenge into FY 2025, weighing on its distributable income per share (Dips).
The group flagged that its Dips for the current financial year are expected to decline by up to 5% in a release of its annual results for the year ended 30 June 2024 on Wednesday.
Growthpoint’s comments come despite its share price rallying strongly in recent months, due in large part to market expectations around interest rate cuts. Reits, which are highly leveraged by their nature, stand to benefit from rate cuts.
