Fallen property darlings give themselves the Hyprop
The company’s share price has floundered for a couple of years because of a weak economy
Hyprop Investments, which until a few years ago was one of the darlings of the listed property sector, is making headway in regaining that crown.
The company’s share price has been under attack for a couple of years because of a weak economy, a cash-strapped consumer at its blue-chip shopping centres and credit downgrades from ratings agencies that have questioned its debt structures.
Hyprop’s share price has fallen about 11.69% a year to date, 29% on a one-year basis and 38% on a two-year basis. But a new executive team has responded to criticism, and CEO Morné Wilken has acted quickly to address concerns since he took the helm at the beginning of the year...