South African-born tycoon Barry Stuhler suffers $2-million loss from Lighthouse stake

Timilehin Adejumobi -

Key Point

  • South African-born tycoon Barry Stuhler’s stake in Lighthouse drops $2.18 million over 28 days.
  • Lighthouse’s shares have declined by 2.77%, reducing the company’s market value below $810 million.
  • Despite recent declines, Lighthouse stock yields a modest 9.80% YTD gain on the JSE, rewarding investors with significant profits.

South African-born real estate magnate Barry Stuhler has experienced a substantial decline in the market value of his investment in Lighthouse Properties. This downturn follows a sharp drop in the share price of the Malta-based property company.

According to data tracked by Billionaires.Africa, Stuhler’s stake in Lighthouse Properties has decreased by R39.72 million ($2.18 million) over the past 29 days. This follows a previous gain of $4.23 million recorded between April 16 and 24, when his stake increased from R1.31 billion ($68.33 million) to R1.39 billion ($72.55 million).

Lighthouse Properties faces market challenges despite expansion

Lighthouse Properties, a Malta-based property firm listed on the Johannesburg Stock Exchange (JSE), owns a diverse portfolio of retail assets across Europe. 

Recently, the company expanded its European presence by acquiring the Alegro Montijo mall in Portugal for €177.8 million ($192.24 million).

Despite this expansion, the company has faced market challenges, with its shares dropping by 2.77 percent over the past 29 days, from R8.3 ($0.46) on June 19 to R8.07 ($0.44), pushing the company’s market capitalization below $810 million.

Barry Stuhler’s Lighthouse stake slumps further below $80 million

Barry Stuhler holds a 9.72-percent stake in Lighthouse Properties, totaling 172,699,222 shares. The recent dip has reduced the value of his stake by R39.72 million ($2.18 million), from R1.43 billion ($78.62 million) on June 19 to R1.39 billion ($76.44 million).

Despite the loss, Stuhler remains a prominent figure in the real estate sector, with a diversified business portfolio and investments in Resilient Real Estate Investment Trust (REIT) and Pangbourne Properties.

Lighthouse Properties’ shares have provided modest gains to investors since the start of the year. The stock has increased by 9.8 percent year-to-date, meaning a $100,000 investment at the beginning of the year would now be worth $109,800, reflecting a gain of $9,800.