South African (JSE) Retail REITs Industry Analysis

Industry Valuation and Performance

Has the South African Retail REITs Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 08 Jul 2026	R125.7b	R24.9b	R18.5b	6.3x	6.8x	5.1x
Fri, 05 Jun 2026	R116.1b	R24.2b	R17.0b	6.3x	6.8x	4.8x
Sun, 03 May 2026	R117.1b	R23.9b	R16.6b	6.4x	7x	4.9x
Tue, 31 Mar 2026	R112.1b	R23.9b	R16.6b	6.2x	6.7x	4.7x
Thu, 26 Feb 2026	R123.1b	R23.1b	R12.8b	7.3x	9.6x	5.3x
Sat, 24 Jan 2026	R116.7b	R23.1b	R12.8b	7.2x	9.1x	5.1x
Mon, 22 Dec 2025	R116.8b	R23.7b	R13.4b	6.7x	8.7x	4.9x
Wed, 19 Nov 2025	R110.1b	R22.6b	R11.3b	7.9x	9.7x	4.9x
Fri, 17 Oct 2025	R91.0b	R20.3b	R10.1b	6.8x	9x	4.5x
Sun, 14 Sep 2025	R89.1b	R20.1b	R11.0b	6.3x	8.1x	4.4x
Tue, 12 Aug 2025	R85.8b	R19.9b	R12.1b	6.3x	7.1x	4.3x
Thu, 10 Jul 2025	R82.4b	R19.9b	R12.6b	5.9x	6.6x	4.1x
Sat, 07 Jun 2025	R80.8b	R19.3b	R10.9b	5.9x	7.4x	4.2x
Mon, 05 May 2025	R80.1b	R19.2b	R10.5b	6.2x	7.6x	4.2x
Wed, 02 Apr 2025	R76.9b	R19.2b	R10.5b	6.1x	7.3x	4x
Fri, 28 Feb 2025	R76.9b	R21.3b	R10.4b	6.1x	7.4x	3.6x
Sun, 26 Jan 2025	R76.7b	R21.3b	R10.4b	6.2x	7.4x	3.6x
Tue, 24 Dec 2024	R79.0b	R21.3b	R10.6b	6.2x	7.5x	3.7x
Thu, 21 Nov 2024	R73.4b	R21.1b	R9.3b	6.2x	7.9x	3.5x
Sat, 19 Oct 2024	R73.6b	R21.1b	R9.1b	6.5x	8.1x	3.5x
Mon, 16 Sep 2024	R74.2b	R21.0b	R7.6b	7.9x	9.8x	3.5x
Wed, 14 Aug 2024	R66.2b	R20.9b	R7.1b	7x	9.3x	3.2x
Fri, 12 Jul 2024	R64.8b	R21.0b	R6.9b	7.1x	9.4x	3.1x
Sun, 09 Jun 2024	R60.4b	R20.0b	R8.6b	5.4x	7x	3x
Tue, 07 May 2024	R59.7b	R19.7b	R9.4b	4.7x	6.4x	3x
Thu, 04 Apr 2024	R59.1b	R19.7b	R9.4b	4.7x	6.3x	3x
Sat, 02 Mar 2024	R60.6b	R17.3b	R9.2b	5.7x	6.6x	3.5x
Mon, 29 Jan 2024	R68.6b	R19.7b	R10.0b	6.6x	6.9x	3.5x
Wed, 27 Dec 2023	R66.9b	R19.7b	R10.0b	6x	6.7x	3.4x
Fri, 24 Nov 2023	R61.9b	R19.5b	R10.1b	5.9x	6.1x	3.2x
Sun, 22 Oct 2023	R61.6b	R19.4b	R10.5b	4.7x	5.8x	3.2x
Tue, 19 Sep 2023	R66.5b	R19.6b	R11.2b	4.7x	5.9x	3.4x
Thu, 17 Aug 2023	R66.2b	R19.6b	R11.2b	4.7x	5.9x	3.4x
Sat, 15 Jul 2023	R62.5b	R19.5b	R11.9b	4.6x	5.2x	3.2x

Current Industry PE

Investors are relatively neutral on the South African Retail REITs industry at the moment, indicating that they anticipate long term growth rates to remain steady.

The industry is trading close to its 3-year average PE ratio of 7.4x.

The 3-year average PS ratio of 3.9x is lower than the industry's current PS ratio of 5.1x.

Past Earnings Growth

The earnings for companies in the Retail REITs industry have grown 16% per year over the last three years.
Revenues for these companies have grown 8.4% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does South African Retail REITs compare with similar industries?


ZA Market	0.82%
Real Estate	1.35%
REITS	1.96%
Retail REITs	1.43%
Office REITs	2.58%
Diversified REITs	1.96%
Industrial REITs	1.15%
Residential REITs	0%	0
Specialized REITs	0%	0
Hotel and Resort REITs	0%	0

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Company	Last Price	7D	1Y	Valuation
FTA Fairvest	R20.58	5.5% +R2.1b	14.5%	PB3.7x
VKE Vukile Property Fund	R25.05	2.0% +R684.5m	27.4%	PB1x
HYP Hyprop Investments	R60.93	2.2% +R540.9m	37.7%	PB0.9x

Company

Last Price

Valuation

FTA Fairvest

R20.58

5.5%
+R2.1b

14.5%

PB3.7x

VKE Vukile Property Fund

R25.05

2.0%
+R684.5m

27.4%

PB1x

HYP Hyprop Investments

R60.93

2.2%
+R540.9m

37.7%

PB0.9x

Hyprop Investments Limited Announces Board and Committee Changes

Hyprop Investments Limited announced that the board of directors has appointed Lucas Ndala and Martin Oberholster as independent non-executive directors of the Company with effect from June 17, 2026. Lucas Ndala is a CA(SA) and has served as the chief executive officer and financial director at various companies within the Royal Bafokeng Holdings and Telkom Groups. He has also served as a non-executive director and chairman on boards such as MB Technologies, RBPlat Limited, where he served on the Audit Committee and Remuneration Committee, Atterbury Investment Holdings (now Attacq), DHL Express, and Seacom South Africa Limited. Lucas is currently the CEO of Umkhwene Energy Pty Ltd, which operates in the liquid petroleum gas sector. In addition to his appointment to the Board, Lucas will also be appointed to the Audit and Risk Committee. Martin Oberholster is a CA(SA) and began his career as an audit partner at Ernst and Young, before joining Rand Merchant Bank in 1997. He spent over 25 years at RMB, serving on the RMB Advisory Board and various management boards within the RMB group. His roles included chief investment officer (Private Equity and Hybrid Equity), chief credit officer (Specialised Finance and Corporate Loans) and founder and co-head of RMB Principal Investments. Martin was appointed as an advisor to Hyprop’s Investment Committee in 2025 and following his appointment to the Board, he will become a member of the Investment Committee. The Board confirms that a fit and proper assessment has been undertaken for each of Lucas Ndala and Martin Oberholster, and the Board is satisfied with the outcome of these assessments. The Board further confirms that Lucas Ndala and Martin Oberholster’s backgrounds and qualifications have been independently verified, and they have not made any declarations which require disclosure pursuant to paragraph 6.74 of the JSE Listings Requirements. Hyprop Investments Limited announced that Reeza Isaacs, independent non-executive director and member of the Audit and Risk Committee, has resigned from the Board and the relevant committee with effect from July 1, 2026, following his appointment as the CEO of The Spar Group Limited. Following the changes above, the Audit and Risk Committee will comprise the following members: Zuleka Jasper (Chairperson), Annabel Dallamore, and Lucas Ndala; and the Investment Committee will comprise the following members: Spiro Noussis (Chairperson), Loyiso Dotwana, Bernadette Mzobe, Wilhelm Nauta, Martin Oberholster, and Morné Wilken.

South African (JSE) Retail REITs Industry Analysis

Industry Valuation and Performance

Industry Comparison

Top Stock Gainers and Losers

Latest News

Upcoming dividend of R0.84 per share

New minor risk - Share price stability

Resilient REIT Limited Announces Committee Appointments

Upcoming dividend of R0.72 per share

Hyprop Investments Limited Announces Board and Committee Changes

Final dividend increased to R0.28