Research: Listed Property Company Performance

There has been a great deal of publicity over recent months of the poor performance of the listed property companies share price relative to NTA. We have indexed and graphed the movement of the share price movement of each of the property stocks over the last year to see where the market has been over that period. All prices and their relative movement have been indexed to a base of 100.

The price of property stocks fluctuate depending upon many factors. These can include overall share-market sentiment away from so termed "old" economy stocks to those "new" economy stocks such as technology and internet based companies, interest rate level changes and takeover and merger activity, to name a few.

It is clear from the graph that whilst some of the property stocks have trended downwards over the year others have fluctuated within a narrow band. Those stocks to have come under increasing downward pressure have been those which have either non- blue chip portfolios, have been the subject of negative public sentiment or have a lesser market capitalisation.