SA Corporate Real Estate’s home truth could be residential
Shareholders say the firm's investment strategy has not paid off, and needs a rethink
When your biggest shareholders demand a new, clear strategy, perhaps a company that has struggled to gain any traction in recent years should listen?
You would expect the affected company to want to move heaven and Earth to turn around its fortunes. Not so in the case of SA Corporate Real Estate, which has really disappointed in recent results seasons. The company certainly believes it is on the correct path with its chairperson of the past six years, Jeff Molobela, adamant that SA Corporate does not need to change its strategy.
Shareholders like Prudential and Allan Gray disagree, saying the company’s investment strategy has not paid off. Its share price has been battered as a result. So far in 2019 the stock is down almost 20%...