Property group Fortress to soar again in 2021

Fortress, the owner of commuter retail and logistics properties, which, on Monday, was cleared of charges of share price manipulation,

Fortress, Resilient, Nepi Rockcastle and Lighthouse Capital, which are considered as making up the Resilient stable of companies, saw their share prices plummet in January 2018 after a sudden sell-off, which cost pensioners and other investors more than R120bn in value. On Monday it said it had found no evidence of Fortress shares having been manipulated by people who worked for Fortress or the other stable members.

Fortress A shares have climbed about 13.7% year to date while its B shares are down 30%, having closed 6.37% lower at R10.14 on Tuesday.2020 financial year forecast for its B-share dividend by about 5% after a hefty R560m impairment to its newly built Clairwood Logistics Park in Durban.

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