The month of September was a bumper month for many property companies’ share price, dominated by retail focused companies, who in general have taken a hammering over the past 18 months or so. Top of the list was Capital & Regional. Shares in the shopping centre landlord bounced after it announced it was in talks with South African REIT Growthpoint Properties to sell a majority stake in the company. In the year to date, Capital & Regional’s share price has fallen 27.4%. Also high on the list was Hammerson, which owns shopping centres, retail parks and outlet centres in the UK, Ireland and France. Its share price grew following news that it had exceeded its £500m disposal target for the year. Another retail landlord, NewRiver REIT, was third on the list having made progress with its contrarian investment strategy into retail parks. Capital & Counties Properties also featured in the top five as plans to split its Earls Court estate and Covent Garden portfolio advanced. Housebuilders Inland Homes and Countryside Properties also made impressive gains in the month, while regeneration specialist U and I Group squeaked into the top 10 with a 11.1% increase… Read more
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