Rising interest rates take shine off listed property stocks

Rising interest rates take shine off listed property stocks
Precinct Properties opened its first Generator offices in Wellington at 30 Waring Taylor St last month. (Image: supplied)
Brent Melville
Listed property sector stocks were down 3.2% last month, on the back of both weaker than expected reporting and as rising bond yields begin to weigh on investor demand for listed real estate.While none of the 10 property vehicles (LPVs) were left unscathed, the downward trend was led by diversified commercial investor and manager Stride Property, which saw its share price lose 11.4%, Forsyth Barr says.That was after it announced a $120 million equity raise at an 11% discount to the previous close, aimed at lowering its gearing levels.Big box re...

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