Price Target Changed • May 14
Price target decreased by 9.2% to R18.70 Down from R20.60, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of R18.10. Stock is up 7.1% over the past year. The company posted earnings per share of R0.88 last year. New Risk • May 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 3.3% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (304% cash payout ratio). Share price has been volatile over the past 3 months (7.2% average weekly change). Large one-off items impacting financial results. New Risk • May 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (304% cash payout ratio). Share price has been volatile over the past 3 months (7.2% average weekly change). Large one-off items impacting financial results. Ankündigung • Apr 25
Fairvest Limited has filed a Follow-on Equity Offering in the amount of ZAR 500 million. Fairvest Limited has filed a Follow-on Equity Offering in the amount of ZAR 500 million.
Security Name: B Shares
Security Type: Common Stock
Transaction Features: Subsequent Direct Listing Ankündigung • Apr 24
Fairvest Limited has completed a Follow-on Equity Offering in the amount of ZAR 900.000003 million. Fairvest Limited has completed a Follow-on Equity Offering in the amount of ZAR 900.000003 million.
Security Name: B Shares
Security Type: Common Stock
Securities Offered: 130,434,783
Price\Range: ZAR 6.9
Transaction Features: Subsequent Direct Listing Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to R21.47, the stock trades at a trailing P/E ratio of 28.9x. Average forward P/E is 13x in the Retail REITs industry in South Africa. Total returns to shareholders of 103% over the past three years. Ankündigung • Jan 31
Fairvest Limited, Annual General Meeting, Mar 02, 2026 Fairvest Limited, Annual General Meeting, Mar 02, 2026. Location: 3rd floor, upper building, 1 sturdee avenue, rosebank, johannesburg, South Africa Upcoming Dividend • Dec 17
Upcoming dividend of R0.73 per share Eligible shareholders must have bought the stock before 22 December 2025. Payment date: 29 December 2025. Trailing yield: 7.8%. Within top quartile of South African dividend payers (7.6%). Higher than average of industry peers (6.3%). New Risk • Dec 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (299% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Dec 03
Full year 2025 earnings released Full year 2025 results: Revenue: R2.18b (up 6.4% from FY 2024). Net income: R1.47b (up 58% from FY 2024). Profit margin: 67% (up from 45% in FY 2024). Revenue is forecast to decline by 12% p.a. on average during the next 3 years, while revenues in the Retail REITs industry in South Africa are expected to remain flat. Ankündigung • Nov 28
Truffle Asset Management acquired 5.40% stake in Fairvest Limited (JSE:FTA). Truffle Asset Management acquired 5.40% stake in Fairvest Limited (JSE:FTA) on November 27, 2025. Truffle now holds 5.61% of Fairvest's total B shares in issue.
Truffle Asset Management completed the acquisition of 5.40% stake in Fairvest Limited (JSE:FTA) on November 27, 2025. Price Target Changed • Oct 31
Price target increased by 16% to R22.10 Up from R19.00, the current price target is provided by 1 analyst. New target price is 19% above last closing price of R18.50. Stock is up 2.8% over the past year. The company posted earnings per share of R0.62 last year. Ankündigung • Sep 16
Fairvest Limited to Report Fiscal Year 2025 Results on Dec 01, 2025 Fairvest Limited announced that they will report fiscal year 2025 results on Dec 01, 2025 Ankündigung • Aug 28
Coronation Asset Management Proprietary Ltd. acquired an additional minority stake in Fairvest Limited (JSE:FTA). Coronation Asset Management Proprietary Ltd. acquired an additional minority stake in Fairvest Limited (JSE:FTA) on August 28, 2025. Coronation Asset Management now holds 50.28% stake in Fairvest’s total A shares in issue.
Coronation Asset Management Proprietary Ltd. completed the acquisition of an additional minority stake in Fairvest Limited (JSE:FTA) on August 28, 2025. Declared Dividend • Jun 09
First half dividend increased to R0.70 Dividend of R0.70 is 2.7% higher than last year. Ex-date: 25th June 2025 Payment date: 30th June 2025 Dividend yield will be 8.2%, which is lower than the industry average of 9.2%. Ankündigung • May 13
Fairvest Limited to Report First Half, 2025 Results on Jun 06, 2025 Fairvest Limited announced that they will report first half, 2025 results on Jun 06, 2025 Ankündigung • Mar 27
Fairvest Limited has completed a Follow-on Equity Offering in the amount of ZAR 400 million. Fairvest Limited has completed a Follow-on Equity Offering in the amount of ZAR 400 million.
Security Name: B Shares
Security Type: Common Stock
Securities Offered: 85,106,383
Price\Range: ZAR 4.7
Transaction Features: Subsequent Direct Listing Ankündigung • Feb 16
Fairvest Limited Appoints Ntombenhle Bridget Duker as Independent Non-Executive Director and Member of the Audit and Risk Committee with Effect from 6 March 2025 Shareholders are advised that Ms. Ntombenhle Bridget Duker has been appointed to the board of directors of Fairvest Limited as an independent non-executive director and member of the Audit and Risk Committee with effect from 6 March 2025. Bridget (Bcom (Hons), CA(SA)), started her career at Deloitte where she became an audit partner and led multi- disciplinary engagement teams servicing JSE listed clients in geographies spanning Africa, Europe and America during her 14 years at Deloitte. Thereafter, Bridget served as chief financial officer at African Rainbow Capital Investments Limited until 2019 before she joined Rothschild & Co South Africa as the chief operating officer and head of legal & compliance, a position she held until 2024. Bridget is currently a director of Absa Financial Services Limited. Previously she also served as an independent non-executive director of Assupol Holdings Limited and Assupol Life Limited Alexander Forbes Group Holdings Limited, A2X Markets Proprietary Limited, Colourfield Liability Solutions Proprietary Limited, Motus Holdings Limited and Imperial Holdings Limited. Ankündigung • Feb 01
Fairvest Limited, Annual General Meeting, Mar 05, 2025 Fairvest Limited, Annual General Meeting, Mar 05, 2025. Ankündigung • Jan 23
Fairvest Ltd. Announces Board Changes Shareholders are advised that Nozipho Shange has informed the board of her intention to resign, effective 5 March 2025, following the conclusion of the Company's upcoming annual general meeting. Fikile Futwa, currently a member of the Audit and Risk Committee, will replace Nozioho as chairperson of the Audit and Risk Committee, effective 5 March 2025. The board thanks Nozipho for her contribution to Fairvest over the years and wishes her well in her future endeavours. Shareholders are further advised that Nadene Smith, has resigned as a member of the Social and Ethics Committee, but will remain as a standing invitee to committee meetings. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to R18.30, the stock trades at a trailing P/E ratio of 29.6x. Average forward P/E is 16x in the REITs industry in South Africa. Total returns to shareholders of 42% over the past year. New Risk • Jan 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (3.0x net interest cover). Minor Risks Dividend is not well covered by cash flows (279% cash payout ratio). Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Upcoming Dividend • Dec 17
Upcoming dividend of R0.71 per share Eligible shareholders must have bought the stock before 23 December 2024. Payment date: 30 December 2024. Trailing yield: 8.1%. Within top quartile of South African dividend payers (7.7%). In line with average of industry peers (8.6%). Declared Dividend • Dec 02
Final dividend increased to R0.71 Dividend of R0.71 is 3.8% higher than last year. Ex-date: 23rd December 2024 Payment date: 30th December 2024 Dividend yield will be 8.1%, which is lower than the industry average of 9.2%. Reported Earnings • Dec 01
Full year 2024 earnings released Full year 2024 results: Revenue: R2.05b (up 7.1% from FY 2023). Net income: R926.3m (up 42% from FY 2023). Profit margin: 45% (up from 34% in FY 2023). Revenue is expected to fall by 27% p.a. on average during the next 2 years compared to a 10% decline forecast for the REITs industry in South Africa. Ankündigung • Nov 29
Fairvest Limited Declares Final Dividend for the Six Months Ended 30 September 2024, Payable on 30 December 2024 The board of Fairvest Limited has resolved to declare a final dividend of 70.51767 cents per A share, and 22.05167 cents per B share, being 100% of the distributable income for the six months ended 30 September 2024 (2023: 100%). Shares trade ex-distribution: 23 December 2024. Record date: 27 December 2024. Payment date: 30 December 2024. Ankündigung • Nov 12
Fairvest Limited to Report Fiscal Year 2024 Results on Nov 29, 2024 Fairvest Limited announced that they will report fiscal year 2024 results on Nov 29, 2024 Ankündigung • Jul 16
Ninety One SA (Pty) Ltd. acquired an additional minority stake in Fairvest Limited (JSE:FTA). Ninety One SA (Pty) Ltd. acquired an additional minority stake in Fairvest Limited (JSE:FTA) on July 15, 2024. Post transaction Ninety One now holds 5.1092% of Fairvest's total B shares in issue. Ninety One SA (Pty) Ltd. completed the acquisition of an additional minority stake in Fairvest Limited (JSE:FTA) on July 15, 2024. Upcoming Dividend • Jun 14
Upcoming dividend of R0.68 per share Eligible shareholders must have bought the stock before 19 June 2024. Payment date: 24 June 2024. Trailing yield: 8.6%. Lower than top quartile of South African dividend payers (9.2%). Lower than average of industry peers (11%). Declared Dividend • Jun 05
First half dividend of R0.68 announced Shareholders will receive a dividend of R0.68. Ex-date: 19th June 2024 Payment date: 24th June 2024 Dividend yield will be 9.0%, which is about the same as the industry average. Buy Or Sell Opportunity • Apr 30
Now 22% overvalued Over the last 90 days, the stock has fallen 1.6% to R15.89. The fair value is estimated to be R13.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 53% over the last 3 years. Earnings per share has grown by 38%. Ankündigung • Mar 15
An unknown buyer acquired unknown minority stake in Fairvest Limited (JSE:FTA) from Vukile Property Fund Limited (JSE:VKE). An unknown buyer acquired unknown minority stake in Fairvest Limited (JSE:FTA) from Vukile Property Fund Limited (JSE:VKE) on March 15, 2024. Pursuant to deal Vukile no longer holds any Fairvest B shares. In related transaction MICC Properties Limited, a wholly-owned subsidiary of Vukile also disposed the class B shares of Fairvest.
An unknown buyer completed the acquisition of unknown minority stake in Fairvest Limited (JSE:FTA) from Vukile Property Fund Limited (JSE:VKE) on March 15, 2024. Buy Or Sell Opportunity • Mar 12
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to R15.99. The fair value is estimated to be R13.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 53% over the last 3 years. Earnings per share has grown by 38%. Ankündigung • Jan 31
Fairvest Limited, Annual General Meeting, Mar 05, 2024 Fairvest Limited, Annual General Meeting, Mar 05, 2024, at 10:00 South Africa Standard Time. Location: offices of Fairvest, 3rd Floor, Upper Building, 1 Sturdee Avenue, Rosebank Johannesburg South Africa Agenda: To consider Election of F Futwa and M Buya; to consider Re-election of K Nkuna, J Wiese and J Krie; to consider reappointment of members of the Audit and Risk Committee; to consider appointment of auditors; to consider General authority to issue shares for cash; to consider Non-binding advisory vote on Remuneration Policy and Remuneration Implementation Report; to consider Authority to sell Treasury Shares; to consider Specific authority to issue shares pursuant to a reinvestment option; and to consider any other matters. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to R16.77, the stock trades at a trailing P/E ratio of 38.2x. Average forward P/E is 20x in the REITs industry in South Africa. Total returns to shareholders of 36% over the past year. Simply Wall St's valuation model estimates the intrinsic value at R11.83 per share. Upcoming Dividend • Dec 13
Upcoming dividend of R0.68 per share at 9.1% yield Eligible shareholders must have bought the stock before 20 December 2023. Payment date: 27 December 2023. Trailing yield: 9.1%. Lower than top quartile of South African dividend payers (9.4%). In line with average of industry peers (9.9%). Reported Earnings • Dec 03
Full year 2023 earnings released Full year 2023 results: EPS: R0.43. Revenue: R1.91b (up 51% from FY 2022). Net income: R654.8m (down 62% from FY 2022). Profit margin: 34% (down from 135% in FY 2022). Revenue is expected to fall by 8.1% p.a. on average during the next 2 years compared to a 4.5% decline forecast for the REITs industry in South Africa. Ankündigung • Nov 30
Fairvest Property Holdings Limited Declares Final Dividend, Payable on 27 December 2023 The Board of Fairvest Limited has resolved to declare a final dividend (dividend number 17) of 67.93610 cents per A share and 20.32351 per B share, being 100% of the distributable income for the period (2023 interim: 100%).The dividend will be paid to shareholders in accordance with the timetable set out below: Last date to trade cum distribution is 19 December 2023. Shares trade ex-distribution is 20 December 2023. Record date is 22 December 2023.Payment date is 27 December 2023. Ankündigung • Nov 15
Fairvest Limited to Report Fiscal Year 2023 Results on Nov 29, 2023 Fairvest Limited announced that they will report fiscal year 2023 results on Nov 29, 2023 Ankündigung • Sep 01
Fairvest Limited Announces Changes to the Board of Directors, Changes to the Composition of Board Committees The Board of Fairvest Limited announced the appointment of Ms Fikile Futwa and Mr. Mtheza Buya as independent non-executive directors of the Company with effect from 1 October 2023. Fikile is a CA(SA) having had senior financial positions at Eskom and Discovery Limited. She is the founder and CEO of Your Financial Partner and serves as a non-executive director for MiX Telematics Limited. Mtheza holds an LLB and was admitted as an Advocate of the High Court. After various corporate roles at KPMG and EOH Holdings Limited, he founded Sthathu Group Holdings Proprietary Limited, which invests in commercial and residential real estate. The Board welcomes Fikile and Mtheza and looks forward to their contribution to the Company. RESIGNATION OF DIRECTOR: Mr. Arnold Basserabie has resigned as an independent non-executive director of the Company and as a member of the Investment Committee with effect from 30 September 2023. The Board would like to thank Arnold for his valuable contribution to the Company and wishes him well in his future endeavours. CHANGES TO THE COMPOSITION OF BOARD COMMITTEES: Shareholders are advised that following their appointments to the Board, Ms Fikile Futwa will be appointed as a member of both the Audit and Risk Committee and the Social and Ethics Committee of the Company and Mr. Mtheza Buya will be appointed as a member of the Investment Committee of the Company. Shareholders are further advised that Mr. Arnold Basserabie, Ms Khegu Nkuna, Ms Nozipho Shange, Mr. Louis Andrag and Adv Jacob Wiese have resigned as members of the Investment Committee. Subsequent to the above changes, the committees will now comprise the following members: Audit and Risk Committee: Ms Nozipho Shange (Chairperson), Ms Khegu Nkuna, Adv Jacob Wiese, Ms Fikile Futwa; Social and Ethics Committee: Mr. Louis Andrag (Chairperson), Ms Fikile Futwa, Mr. Riaz Kader, Ms Nadene Smith; Investment Committee: Mr. Ndabezinhle Mkhize (Chairperson), Mr. Jacques du Toit, Mr. Mtheza Buya, Mr. Darren Wilder, Mr. Jacques Kriel. Ankündigung • Aug 04
Coronation Asset Management Proprietary Ltd. acquired a 40.02% stake in Fairvest Limited. Coronation Asset Management Proprietary Ltd. acquired a 40.02% stake in Fairvest Limited on August 2, 2023. Coronation Asset Management Proprietary Ltd. completed the acquisition of a 40.02% stake in Fairvest Limited on August 2, 2023. Upcoming Dividend • Jun 14
Upcoming dividend of R0.65 per share at 9.1% yield Eligible shareholders must have bought the stock before 21 June 2023. Payment date: 26 June 2023. Trailing yield: 9.1%. Lower than top quartile of South African dividend payers (9.5%). In line with average of industry peers (9.9%). Ankündigung • Jan 31
Fairvest Limited, Annual General Meeting, Feb 28, 2023 Fairvest Limited, Annual General Meeting, Feb 28, 2023, at 10:00 South Africa Standard Time. Location: The offices of Fairvest, 3rd Floor, Upper Building 1 Sturdee Avenue, Rosebank Johannesburg South Africa Upcoming Dividend • Dec 14
Upcoming dividend of R0.65 per share Eligible shareholders must have bought the stock before 21 December 2022. Payment date: 28 December 2022. Trailing yield: 9.4%. Within top quartile of South African dividend payers (8.7%). In line with average of industry peers (9.2%). Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Khegu Nkuna was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Khegu Nkuna was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorated over the past week After last week's 15% share price decline to R12.60, the stock trades at a trailing P/E ratio of 67.8x. Average trailing P/E is 9x in the REITs industry in South Africa. Board Change • Feb 12
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Director Arnold Basserabie is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Jan 28
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Independent Non Executive Director Nozipho Makhoba was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
