Fallen property darlings give themselves the Hyprop

Business

Fallen property darlings give themselves the Hyprop

The company’s share price has floundered for a couple of years because of a weak economy

Alistair Anderson

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...

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