Burstone Group (JSE: BTN)

Down to 9.20 now. Eish.

9.20 now, down a bit. Holding tight.

9.20 down again. Tenants paying rent or not.

9.20 now, eish. Down again.

9.20 now, down 2.54%. Eish.

9.47 now, eish. All red today.

9.47 now, down 2%. Eish.

9.60 now, below the round number again.

9.60 now. Still waiting for the bounce.

R9.60 down today but dividend keeps landing.

9.86, knocking on that 10 door

r9.86, knocking on r10's door now

BTN's been trading around that R9.60 level with property yields still under pressure, so you're really banking on either asset revaluation or a rental recovery to justify the entry. Dividend cover looks thin at current rates, which makes the yield less appetizing unless you belie

BTN down a touch today at R9.53 but the yield's still decent if they maintain distributions. Property sector's been moody though, so I'm waiting to see if they can grow earnings off that NAV before getting excited.

Look, BTN's yield is still solid even at R9.26 and the property portfolio is actually decent if you ignore the load-shedding headaches hitting rentals. Yeah the market's spooked on REITs but this isn't some dodgy outfit, they've got real assets and tenants actually paying. Long game is about distributions and capital appreciation once the property cycle turns, not sitting around waiting for a quick pop.

pulled the latest sens, balance sheet holding up

pulled the latest financials on btn and the distribution yield is sitting ok relative to where the broader reit space is trading, but the tenant quality metrics in the md&a are what's got me watching. bunch of vacancies opening up in q2 across the office portfolio, which is rough given the load-shedding impact on office demand. comparable reits like redefine and fourways are dealing with similar headwinds though so it's not unique. longer term if they can stabilise the leasing and maybe pivot harder to retail the distributions could be sustainable again.

Good morning everyone. BTN closed at R9.26 which puts it back near where it was trading mid-year, but the yield's still sitting around 7-8% depending on the last distribution so you're getting paid to wait. Commercial property's been tough with all the office space sitting empty, but Burstone's exposure to retail's helping them more than pure office plays like Redefine or Growthpoint. Long game here is whether they can keep occupancy up and distributions stable while the economy sorts itself out.

BTN dropped a bit today at 960 cents but I'm not worried, small drops happen and I'm in this for the long game anyway.

BTN down 0.62% today to R960, nothing major but makes me wonder if the property sector is getting some headwinds or just normal trading noise?