Is the REIT Recovery Too Good to be True?

While listed property has bounced back strongly this year to be among the JSE's best performing sectors there are now fresh concerns with the renewed lockdown level 4 and the riots and looting which haven't seen some large malls like Queensland spared, though this has been fairly isolated at this stage. Is a reckoning in retail REITland coming? Before the pandemic the excessive focus on income without regard to the sustainability of that income or the risks taken to generate it is exactly what got the sector into trouble. You cannot ignore that shareholders have been complicit in this mess. They too must take responsibility for what they hired boards and paid management teams to do. What are the lessons in all of this and what is the outlook for the listed property sector into the second half? Malcolm Horne, CEO of Broll Property Group; Madalet Sessions, who co-manages the Denker SCI Balanced and Stable funds with Jan Meintjes; and Andrew Brooking, corporate finance executive and founding director of Java Capital and who one of the top corporate finance houses specialising in property M&A join Michael Avery to debate the reasons for REITs performing so badly during the pandemic?
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