Solid earnings ahead
Listed property stock Rockcastle’s results throw up a number of interesting points that confirm its attractiveness as an investment vehicle for listed property. The US makes up almost 44% of assets, with UK and Europe just over 12% each. Both Singapore and Canada are just around 10%. Retail is Rockcastle’s main area of focus at just under 60%. It also has the three projects in Zambia and has just concluded a joint-venture deal to build a mall in Poland. For shareholders this means a solid underpin of geographically diverse assets with a number of malls in previously ignored regions. This split should give solid earnings and is well worth investing in for international property exposure with some added emerging-market exposure.