Growthpoint Properties Limited (JSE: GRT) delivered a 17.6% increase in SA REIT funds from operations and a 5.2% increase in distributable income per share of 76.9 cents for its six-month period to 31 December 2021. Distribution per share was also up 5.1% at 61.5 cents per share. Its total property assets grew by 7.7% to R164.
4bn. The Growthpoint share price remains significantly undervalued compared to its SA REIT net asset value of 2,148 cents per share, which increased by 6.2%.