Equites increases FY distribution, but stock slides nearly 6%

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Is this reaction linked to profit-taking or disappointment around the group’s SA property devaluations?
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Equites Park in Atlantic Hills, Cape Town. Image: Supplied
Logistics-focused Equites Property Fund is one of the only local real estate investment trusts (Reits) to pay out its full dividend and increase its distribution per share in the face of the Covid-19 crunch.
But its share price fell almost 6% on Tuesday, following the release of the fund’s annual results for the year ended February 28, 2021.
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