Analysts at Cazenove have given the Local Shopping REIT an “outperform” rating, despite the secondary retail fund’s shares falling back to the price they floated at six weeks ago.
The listed real estate sector has seen a 10% sell-off in the past two weeks.
“Given the worsening investor sentiment towards the property markets – in particular, to the retail sector – concerns about further interest rate rises and the postponed IPO of Vector REIT, the share’s performance is commendable,” said the analysts in a research note this week.
