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@scandi_jse64 exactly, industrial carrying the load right now. retail will come good once demand picks up again
been looking at their last set of numbers, industrial is genuinely carrying the load while retail sits there bleeding. what's actually keeping me interested is the distribution yield hasnt collapsed like some of the other reits, so if you're after income while waiting for rate cuts to kick in theres worse places to park cash. r17.62 feels like a reasonable entry if you've got patience for the property cycle to turn, distributions should hold.
Read the latest results. Industrial actually tracking ok, retail the real drag still.
@jse_tttrading exactly, industrial is the play here
@guppy_jse ja, distributions holding up is the key thing ngl
industrial portfolio is actually doing work while retail gets hammered, that's the saving grace here. distributions still solid so the yield isn't fake, just need the rate cycle to turn and some actual tenant demand to come back. at r17.62 not bad if you're playing the long game, once the portfolio stabilises properly then it runs.
Industrial portfolio actually holding up, retail still bleeding vacancy. Volume picked up last few days though.
Seeing decent volume at R17.58 this morning, risk reward is very compelling at these levels for a diversified reit with that kind of property spread. Distributions have held up better than most peers through the cycle, patience looks like a real good idea here with rate cuts potentially on the table next year.
been reading through the latest numbers and honestly the yield is still decent if you can stomach the volatility, but the real question is whether they've actually stabilised the portfolio or just shuffled it around. retail exposure is still the weak link compared to sasfin or even idk, and till we see actual positive reversions on vacancy rates it feels like we're just bag holding hoping for a recovery that might take years. R17.58 isn't terrible value but i'm watching the next quarter closely.
rand holding up a bit but commercial property still taking strain from load-shedding and weak consumer spending. grt's industrial portfolio carrying it though, logistics stuff actually holding rents. long-term view hasn't changed, decent yield at r17.58 if they can navigate the next rate cycle without major defaults. markets shaky but property always recovers when inflation finally cools.
nah look, GRT sitting at R17.58 and yielding what, 7-8% on rental income. retail's getting hammered but their industrial and office mix is keeping the lights on. long game is they've got actual bricks not vapourware, eish but the rand's been a dog so it's a coin flip whether you catch the express train or get left at the station.
Spent an hour on GRT's latest AFS last night. Portfolio quality improving.
office space is the real drag here, retail and industrial doing the heavy lifting but can't carry it forever. need to see some actual tenant wins or maybe a strategic disposal to shift the mix. yield is nice but you're collecting rent on a shrinking asset base, that's the problem.
office exposure is maybe 15-20% of the book so not the killer everyone makes it out to be, but the real question is whether they can keep distributions steady while the rand tanks. looking at the last sens filing the debt levels arent crazy but rand weakness on usd borrowings could become a headache. retail and industrial doing heavy lifting right now which is fine but you need office to recover at some point or the yield story gets tired.
@easystreet_jse yep, retail and industrial keeping it afloat. office drag is real but portfolio mix saves it
@easystreet_jse exactly, industrial is the anchor here