South African real estate tycoon Barry Stuhler has seen the market value of his stake in Lighthouse Properties surge by over $4.2 million in recent times, thanks to the recent stock rally of the Malta-based property company.
Stuhler’s stake in Lighthouse Properties has shot up by R81.17 million ($4.23 million) in the past eight days. This surge is attributed to renewed interest from investors, who have been snapping up shares in the leading real estate firm.
This recent boost adds to Stuhler’s previous gains. Between March 15 and 28, his stake in Lighthouse grew by $3.64 million, climbing from R1.33 billion ($70.11 million) on March 5 to R1.4 billion ($73.75 million).
Lighthouse Properties up 6 percent on JSE
Malta-based property firm Lighthouse Properties, listed on the Johannesburg Stock Exchange (JSE), owns a range of retail assets across Europe, including France, Portugal, Slovenia, Spain, and the United Kingdom.
Barry Stuhler, with three decades of real estate experience and investments in Resilient Real Estate Investment Trust (REIT) and Pangbourne Properties, holds a 9.72-percent stake in Lighthouse Properties, totaling 172,699,222 shares.
Over the past eight days, Lighthouse Properties’ share price has climbed by 6.18 percent, jumping from R7.6 ($0.39514) on April 16 to R8.07 ($0.4196), driving the company’s market capitalization closer to the $750-million mark.
Stuhler’s Lighthouse stake soars above $70 million
As a result of the recent surge in the group’s shares, Stuhler’s stake in Lighthouse Properties has increased by R81.17 million ($4.23 million) in the last 8 days, rising from R1.31 billion ($68.33 million) on April 16 to R1.39 billion ($72.55 million).
The recent $4.23-million gain further strengthens Stuhler’s reputation not only as a high-value JSE investor but also as one of South Africa’s most affluent individuals. His diversified portfolio is a testament to his skill in navigating financial markets and capitalizing on opportunities.
