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VUKILE PROPERTY FUND LTD

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VKE trade ideas

Our opinion on the current state of VUKILE(VKE)Vukile (VKE) is a real estate investment trust (REIT) listed on the JSE and the Namibian Stock Exchange. The company owns properties directly, holds shares in other REITs, and has significant property investments in the UK and Spain. Its portfolio is geographically diversified, with 50% of its assets located in Southern Africa, primarily in retail properties, 46% in Spain, and 4% in the UK. Vukile follows a strategy of reinvesting into its existing properties, and as part of this strategy, it has partnered with MTN to install fiber in 37 of its malls, with MTN investing R80 million. The company also holds notable investments in other REITs, including R595 million in Fairvest, R1.3 billion in Atlantic Leaf (34.9%, currently being sold), and R790 million in Gemgrow Properties, which it is also attempting to divest. The company is refocusing its portfolio on Southern Africa and Spain, selling off its UK assets and shareholdings in other REITs to streamline operations and strengthen its core assets. In its results for the year to 31st March 2024, Vukile reported revenue growth of 11.8% and a 5.2% increase in its net asset value (NAV) to 2155 cents per share. The company’s loan-to-value (LTV) ratio stood at 40.7%, reflecting a well-managed balance sheet. Regarding its South African portfolio, Vukile highlighted: "Like-for-like retail NOI growth of +5.4% - Vacancies reduced to 1.9% - Rental reversions +2.9%, up from +2.3% - Like-for-like retail portfolio value increased by +5.8%." In an update on trading for November and December 2024, the company reported a 6.1% increase in trading density compared to the prior year. Township shopping centers were the top-performing segment of the portfolio, achieving trading density growth of 9.6%. Vukile’s shares are currently trading on a multiple of 12.47, which remains attractive and indicates that the share is undervalued. Over the past 15 years, despite various challenges, Vukile has proven to be a reliable long-term investment, with its share price steadily increasing. Given the company’s strong performance, growing portfolio, and focused strategy on its core assets in Southern Africa and Spain, we consider Vukile to be one of the best REITs on the JSE. It continues to present a compelling opportunity for long-term investors, particularly at current levels, which still look cheap.
JSE:VKE
by PDSnetSA
Our opinion on the current state of VUKILE(VKE)Vukile (VKE) is a real estate investment trust (REIT) trading on the JSE and the Namibian Stock Exchange. It owns properties directly, shares in other REITs, property in the UK, and a growing portfolio of properties in Spain. Fifty percent of its assets are in Southern Africa, mainly in retail, 46% in Spain, and 4% in the UK. Vukile has a policy of re-investing into its existing properties and has struck a deal with MTN, which has invested R80 million to install fiber into 37 of its malls. Vukile has a R595 million investment in Fairvest, a R1.3 billion investment in Atlantic Leaf (34.9%, which it is now in the process of selling), and a R790 million investment in Gemgrow Properties, which they are trying to sell. Vukile is probably one of the best REITs on the JSE, and its share price has risen steadily over the 15 years, despite various setbacks. The CEO, Laurence Rapp, says that the company is selling its shareholding in other REITs and its UK assets to focus on portfolios in Southern Africa and Spain. In its results for the year to 31st March 2024, the company reported revenue up 11.8% and net asset value (NAV) of 2155c per share, up 5.2%. The company's loan-to-value (LTV) is 40.7%. The company said the South African portfolio had, "Like-for-like retail NOI growth of +5.4% - Vacancies reduced to 1.9% - Rental reversions +2.9%, up from +2.3% - Like-for-like retail portfolio value increased by +5.8%." Its shares are trading on a multiple of 11.85, which still looks cheap to us. This share has been a good long-term investment and continues to show strong performance and growth potential.
JSE:VKE
by PDSnetSA
UPDATE Vukile still building its way to R17,59This is from the last update. We saw an Inv Head and Shoulders from AUg 2023 to December 2023. The price then broke above the Brim and the entire market went through an uptrend trajectory. Higher lows each time, one fakeout, then a continued bullish momentum nuation. Price remains above the 200MA and 20MA which signals upwards to come. The target remains at R17.59 ABOUT THE COMPANY Vukile Property Fund Limited is a notable retail-focused Real Estate Investment Trust (REIT) operating in South Africa and Spain. Establishment and Listings: Vukile was established in 2002 and listed on the Johannesburg Stock Exchange (JSE) on June 24, 2004. It expanded its listings to the Namibian Stock Exchange on July 11, 2007​​. CEO: Laurence Gary Rapp has been leading Vukile as its Chief Executive Officer, guiding the company's growth and expansion strategies​​. Diverse Portfolio: The company owns a variety of retail properties across South Africa and Spain, providing a well-diversified exposure across different macroeconomic drivers and a substantial Rand hedge portfolio. Its South African property portfolio includes around 40 properties with a gross lettable area (GLA) of approximately 859,772 square meters​​. Recent Achievements: Vukile has demonstrated resilience and growth, delivering a 10% increase in its cash dividend and updating its FY2024 guidance with positive expectations​​. Specialist Focus: As a specialist retail SA REIT, Vukile focuses on delivering spaces and experiences that exceed customer and tenant expectations, aiming to be the most trusted and respected retail property business in South Africa​​​​.
JSE:VKELong
by Timonrosso
Our opinion on the current state of VKEVukile (VKE) is a real estate investment trust (REIT) listed on the JSE and the Namibian Stock Exchange. The company holds various types of real estate assets, including direct property ownership, shares in other REITs, properties in the UK, and a growing portfolio of properties in Spain. Approximately 50% of its assets are located in Southern Africa, primarily in the retail sector, with 46% in Spain and 4% in the UK. Vukile follows a policy of reinvesting in its existing properties and has partnered with MTN, which invested R80 million to install fiber in 37 of its malls. Vukile holds investments of R595 million in Fairvest, a R1.3 billion stake in Atlantic Leaf (representing 34.9%, which is in the process of being sold), and a R790 million investment in Gemgrow Properties, also under sale negotiations. The company is considered one of the top REITs on the JSE, with a history of steadily rising share prices over the past 15 years, despite occasional setbacks. CEO Laurence Rapp has articulated a strategy of divesting from its holdings in other REITs and its UK assets to focus on portfolios in Southern Africa and Spain. In its financial results for the year ending March 31, 2023, Vukile reported a 3.1% increase in revenue and a 14.3% rise in net asset value (NAV) to 2048 cents per share. The company's loan-to-value (LTV) ratio stands at 42.6%, reflecting a conservative approach to leverage. Headline earnings increased marginally to 134.72 cents per share compared to 134.25 cents per share in the previous year. Vukile estimated that its dividend for the six months ending September 30, 2023, would grow by between 7% and 9%, thanks to increased footfall and trading density. In a trading update for November and December 2023, the company reported a 2% rise in shopper footfall and a 2.6% increase in portfolio sales for the entire 2023 calendar year. Additionally, the portfolio's trading density surged by 4.3% during the combined November and December period compared to the same months in 2022, with the township portfolio witnessing a remarkable 9.7% increase. Vukile's shares are trading at a multiple of 9.8, which is still considered attractive from an investment perspective. This company has demonstrated a strong track record as a good long-term investment option.
JSE:VKE
by PDSnetSA
UPDATE: Vukile Properties set for upside in 2024Inv Head and Shoulders formed on Vukile as of my last update. The progress has been slow but sure. It broke above the neckline, stayed above the uptrend and 200MA. So the next target I'm raising even higher. But this time to R17.59 FUNDAMENTALS: Positive Earnings Release: Vukile Properties released their first half 2024 earnings showing an increase in earnings per share (EPS) compared to the first half of 2023. An increase in EPS is typically a strong indicator of a company's profitability and can attract investors​​. Dividend Guidance Revision: The company revised its dividend guidance for the year ending 31 March 2024, which may have been perceived positively by the market, reflecting a strong future outlook​​. Management and Board Changes: There have been management changes announced in recent months, which might have been received well by investors if they believe these changes will lead to better performance or a more positive strategic direction for the company​​. Portfolio Value and Performance: ' Vukile's real estate portfolio value has been significant, and the performance of the stock has been exceeding both the industry and the market over the past year, which can boost investor confidenc
JSE:VKELong
by Timonrosso
Our opinion on the current state of VKEVukile (VKE) is a real estate investment trust (REIT) trading on the JSE and the Namibian Stock Exchange. It owns properties directly, shares in other REITs, property in the UK as well as a growing portfolio of properties in Spain. 50% of its assets are in Southern Africa, mainly in retail, 46% in Spain and 4% in the UK. Vukile has a policy of re-investing into its existing properties and has struck a deal with MTN, who have invested R80m to install fibre into 37 of its malls. Vukile has a R595m investment in Fairvest, a R1,3bn investment in Atlantic Leaf (34,9% which it is now in the process of selling) and a R790m investment in Gemgrow Properties, which they are trying to sell. Vukile is probably one of the best REITs on the JSE and its share price has risen steadily over the 15 years, despite various setbacks. The CEO Laurence Rapp says that the company is selling its shareholding in other REITs and its UK assets to focus on portfolios in Southern Africa and Spain. In its results for the year to 31st March 2023 the company reported revenue up 3,1% and net asset value (NAV) of 2048c per share, up 14,3%. The company's loan-to-value (LTV) is 42,6%. The company said, "Headline earnings increased marginally to 134.72 cents per share (31 March 2022: 134.25 cents per share)". Business Day reported that Vukile estimated that its dividend for the six months to 30th September 2023 would increase by between 7% and 9% due to an increase in footfall and trading density. Its shares are trading on a multiple of 9,8 which still looks cheap to us. This share has been a good long-term investment.
JSE:VKE
by PDSnetSA
Inv H &S with Vukile showing strong upside soon to R16.51Inv Head and Shoulders seems to be forming with Vukile Property. We have recently had a breakout out of the downtrend and now there seems to be a consolidation of some kind. I expect the range to form somewhat a Right SHoulder, before the next up side is imminent. 7>21 Price>200 RSI >50 Target R16.51 ABOUT THE COMPANY Vukile Property Fund is a South Africa-based Real Estate Investment Trust (REIT). The company was established in June 2004. Vukile is listed on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange (NSX). It focuses primarily on the acquisition, management, and development of retail properties, specifically shopping centers. Some shopping centers include: East Rand Mall - Boksburg, Gauteng Pine Crest Shopping Centre - Pinetown, KwaZulu-Natal Meadowdale Mall - Germiston, Gauteng Dobsonville Shopping Centre - Soweto, Gauteng Randburg Square - Randburg, Gauteng Hammersdale Junction - Hammersdale, K The company had a strong presence in South Africa and Spain. In South Africa, Vukile's portfolio is predominantly retail-focused, with a wide range of assets across provinces. In Spain, the company operates through its subsidiary Castellana Properties, owning a substantial retail portfolio. Vukile's strategy involves maintaining a diversified property portfolio to mitigate risk. The company is committed to the principles of good corporate governance and ethics. Vukile also focuses on sustainability initiatives, striving to limit the environmental impact of its operations. HOW IT GOT ITS NAME "Vukile," it's derived from the Zulu language and generally translates to "stand up" or "arise". This name may reflect the company's commitment to growth and development, as well as its South African roots.
JSE:VKELong
by Timonrosso
JSE:VKE Vukile Property Another One with Buying at VolumeStaying on the theme of weak stocks with some volume buying in the background Vukile is showing some strength in its weakness. The TR formed after the selling climax (SC) has been weak in the price action but the volume shows significant buying on the up moves. We are now testing the breakout level. Not quite ready to go in but a good reversal bar with some (but not necessarily lots) volume could be a good opportunity to go long looking for a retest of R20. Watching this one.
JSE:VKELong
by SteynTrade