WATCH: Stock pick — Redefine Properties

Wayne McCurrie from FNB Wealth and Investments chose Redefine Properties as his stock pick of the day, while David Shapiro from Sasfin had not chosen a stock.

McCurrie said distribution for the next year or two will be in  low single digits from all property stocks.

“For the first time in yonks, these stocks are looking reasonable. One assumes that they are cyclical and that at some stage the economy will recover.”

Shapiro said he likes what is happening in the US, especially the reversal due to the midterm elections.

“It is a bit too early and I would want to see that continue before committing fresh money,” he said.