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South African-born real estate mogul, Barry Stuhler has seen the market value of his stake in Lighthouse Properties decline by nearly $3 million in the past 30 days, driven by the sustained decline in the share price of the Malta-based property company.
According to data tracked by Billionaires.Africa, Stuhler’s stake in Lighthouse has decreased by R55.26 million ($2.91 million) over the past 30 days as investors on the local bourse continue to reduce their stakes in the Mauritius-based company.
Lighthouse Properties, with a diversified property portfolio that includes retail assets across France, Portugal, Slovenia, Spain, and the United Kingdom, has recently faced a significant downturn in its share price as investors continue to trim down their stakes in the company.
Stuhler, the managing director of Capital Property Fund, who ranks as one of the high-value investors on the Johannesburg Stock Exchange, owns a 9.72-percent stake in Lighthouse Properties, which amounts to 172,699,222 ordinary shares in the property company.
In recent times, the share price of Lighthouse Properties on the Johannesburg Stock Exchange has declined by 5.71 percent, falling from R5.6 ($0.2946) on Sept. 18 to R5.28 ($0.2778) on Oct. 18, thus pushing the group’s market capitalization below $500 million.
As a result of a single-digit slump in the company’s share price, the market value of Stuhler’s stake in the company has now declined by R55.26 million ($2.91 million) from R967.12 billion ($50.85 million) on Sept. 18 to R911.85million ($47.95 million) at the time of writing.
