Market Wrap- Stock Pick - Vukile Property Fund
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Nesi Chetty from Momentum chose Vukile Property Fund (VKE) as his stock pick of the day
"Vukile is a company that we have liked for a while, we think they have a very defensive portfolio and with that they are trying to supplement it with international business. This results in around 28% of net operating income now comes from Spain. Within the last six months they have done four acquisitions where they bought Unibail-Rodamco-Westfield assets which is giving them good offshore growth. The distribution per share is between 7,5% and 8,5% and it is on an attractive forward yield of close to 9,4%"
"Vukile is a company that we have liked for a while, we think they have a very defensive portfolio and with that they are trying to supplement it with international business. This results in around 28% of net operating income now comes from Spain. Within the last six months they have done four acquisitions where they bought Unibail-Rodamco-Westfield assets which is giving them good offshore growth. The distribution per share is between 7,5% and 8,5% and it is on an attractive forward yield of close to 9,4%"
