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01 - 10 - 2020
Heriot (HET) is a real estate investment trust (REIT) which owns a diverse portfolio of 43 properties worth R4,47bn in retail, industrial, commercial and specialist property. It was listed on the Alt-X of the JSE on 24-7-2017, but has hardly traded since then. They are developing a property in Adderley Street in Cape Town into 215 residential units. In its results for the year to 30th June 2020 the company reported headline earnings per share (HEPS) up 1,1% and a net asset value (NAV) per share of 1107,27c. The company said, "Given that only 36,7% of Group debt was fixed, Heriot benefitted from the decrease of 300 bps during the financial year under review. Despite the fact that rental relief totalling R11,3 million was granted to tenants for the period to 30 June 2020, Heriot’s distributable earnings for the year ended 30 June 2020 increased by 4,1%. As at 30 June 2020, vacancies amounted to 1,3% (2019: 1,3%) of the portfolio". The company has a loan-to-value (LTV) of 38,8%. This share is completely hamstrung by its lack of volume traded, which makes it completely impractical for a private investor.
<a href="https://www.heriotreit.com/" data-rich-text-format-boundary="true">Click here to go to the company's website. </a>

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