Fortress Real Estate Investments Management

Management criteria checks 2/4

Fortress Real Estate Investments' CEO is Steve Brown, appointed in Jul 2019, has a tenure of 4.58 years. total yearly compensation is ZAR10.03M, comprised of 39.7% salary and 60.3% bonuses, including company stock and options. directly owns 0.19% of the company’s shares, worth ZAR66.72M. The average tenure of the management team and the board of directors is 0.1 years and 5.2 years respectively.

Key information

Steve Brown

Chief executive officer

R10.0m

Total compensation

CEO salary percentage	39.7%
CEO tenure	4.6yrs
CEO ownership	0.2%
Management average tenure	less than a year
Board average tenure	5.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Steve Brown's remuneration changed compared to Fortress Real Estate Investments's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2023	R10m	R4m	R6b
Mar 31 2023	n/a	n/a	R4b
Dec 31 2022	n/a	n/a	R2b
Sep 30 2022	n/a	n/a	R1b
Jun 30 2022	R8m	R5m	R778m
Mar 31 2022	n/a	n/a	R2b
Dec 31 2021	n/a	n/a	R4b
Sep 30 2021	n/a	n/a	R4b
Jun 30 2021	R6m	R5m	R3b
Mar 31 2021	n/a	n/a	-R2b
Dec 31 2020	n/a	n/a	-R8b
Sep 30 2020	n/a	n/a	-R8b
Jun 30 2020	R8m	R5m	-R8b
Mar 31 2020	n/a	n/a	-R3b
Dec 31 2019	n/a	n/a	R3b
Sep 30 2019	n/a	n/a	R3b
Jun 30 2019	R4m	R4m	R3b
Mar 31 2019	n/a	n/a	-R5b
Dec 31 2018	n/a	n/a	-R13b
Sep 30 2018	n/a	n/a	-R9b
Jun 30 2018	R5m	R2m	-R5b
Mar 31 2018	n/a	n/a	R3b
Dec 31 2017	n/a	n/a	R11b
Sep 30 2017	n/a	n/a	R8b
Jun 30 2017	R4m	R2m	R4b

Compensation vs Market: Steve's total compensation ($USD520.53K) is below average for companies of similar size in the ZA market ($USD981.01K).

Compensation vs Earnings: Steve's compensation has increased by more than 20% in the past year.

CEO

Steve Brown (43 yo)

4.6yrs

Tenure

R10,025,000

Compensation

Mr. Steven Brown, also known as Steve, CA (SA), CFA, B.Bus.Sci has been Executive Director of Fortress Real Estate Investments Limited (formerly known as Fortress REIT Limited) since July 02, 2018. He has...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Steven Brown	CEO, MD & Executive Director	4.6yrs	R10.03m	0.19% ZAR 66.7m
Ian Vorster	Financial Director	5.2yrs	R8.04m	0.050% ZAR 17.1m
Sipho Majija	Head of Retail & Executive Director	no data	R7.81m	0.050% ZAR 17.0m
Ryan Eichstadt	Head of Investor Relations & Corporate Finance	less than a year	no data	no data
Jodie Ellinor-Dreyer	Head of Corporate Social Investment & Transformation	less than a year	no data	no data
Jason Cooper	Head of Property Development	less than a year	no data	no data
PC Potgieter	Head of Sustainability	less than a year	no data	no data
Bruce Collins	Head of Asset Management	less than a year	no data	no data
Tamlyn Stevens	Company Secretary	7.8yrs	no data	no data

0.08yrs

Average Tenure

43yo

Average Age

Experienced Management: FFA's management team is not considered experienced ( 0.1 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Steven Brown	CEO, MD & Executive Director	5.8yrs	R10.03m	0.19% ZAR 66.7m
Ian Vorster	Financial Director	5.2yrs	R8.04m	0.050% ZAR 17.1m
Sipho Majija	Head of Retail & Executive Director	6.8yrs	R7.81m	0.050% ZAR 17.0m
Edwin Oblowitz	Independent Non-Executive Director	less than a year	R159.00k	no data
Jan Potgieter	Lead Independent Non-Executive Director	8.2yrs	R1.18m	no data
Hermina Lopion	Independent Non-Executive Director	4.1yrs	R873.00k	no data
Moshiko Caswell Rampheri	Independent Non-Executive director	less than a year	no data	no data
Robin Lockhart-Ross	Independent Non-Executive Chairman	5.6yrs	R1.27m	no data
Susan Ludolph	Independent Non Executive Director	5.2yrs	R1.03m	no data
Thavanesan Chetty	Independent Non Executive Director	3yrs	R865.00k	no data

5.2yrs

Average Tenure

55yo

Average Age

Experienced Board: FFA's board of directors are considered experienced (5.2 years average tenure).

Fortress Real Estate Investments Management

Management criteria checks 2/4

Key information

Recent management updates

Fortress REIT Limited Announces Resignation of Donnovan Pydigadu as Chief Operating Officer and Executive Director and Consequently as Member of the Social, Ethics and Sustainability Committee with Effect from 14 August 2023

Fortress Real Estate Investments Limited, Annual General Meeting, Dec 01, 2023

Fortress REIT Limited Announces Resignation of Donnovan Pydigadu as Chief Operating Officer and Executive Director and as a Member of the Social, Ethics and Sustainability Committee, Effective 14 August 2023

Fortress REIT Limited Announces Board Changes

Insufficient new directors

Fortress Real Estate Investments Limited Announces Resignation of Bram Goossens as Independent Non-Executive Director, Member of the Audit Committee, Member of the Social, Ethics and Sustainability Committee and Chairperson of Remuneration Committee

Recent updates

Price target increased by 13% to R18.00

Fortress REIT Limited Announces Resignation of Donnovan Pydigadu as Chief Operating Officer and Executive Director and Consequently as Member of the Social, Ethics and Sustainability Committee with Effect from 14 August 2023

Peresec Prime Brokers (Pty) Ltd acquired unknown minority stake in Fortress Real Estate Investments Limited (JSE:FFA).

Fortress Real Estate Investments Limited, Annual General Meeting, Dec 01, 2023

Full year 2023 earnings released

An unknown buyer acquired Underperforming Retail Assets in Secunda, Middelburg, Bellville, Philippi and Makhanda from Fortress Real Estate Investments Limited (JSE:FFA) for approximately ZAR 550 million.

Price target increased by 8.0% to R15.37

Fortress REIT Limited Announces Resignation of Donnovan Pydigadu as Chief Operating Officer and Executive Director and as a Member of the Social, Ethics and Sustainability Committee, Effective 14 August 2023

Price target increased by 9.3% to R14.57

Fortress REIT Limited Announces Board Changes

An unknown buyer acquired non-core properties of Fortress REIT Limited for R1.21 billion.

Insufficient new directors

Fortress Real Estate Investments Limited Announces Resignation of Bram Goossens as Independent Non-Executive Director, Member of the Audit Committee, Member of the Social, Ethics and Sustainability Committee and Chairperson of Remuneration Committee

Price target increased by 7.8% to R13.20

Price target decreased to R11.25

CEO, MD & Executive Director recently bought R204k worth of stock

CEO, MD & Executive Director exercised options to buy R563k worth of stock.

Fortress REIT Limited, Annual General Meeting, Dec 06, 2022

Fortress REIT Limited(JSE:FFA) dropped from FTSE All-World Index (USD)

Full year 2022 earnings released

Price target decreased to R14.60

Fortress REIT Limited, Annual General Meeting, Aug 17, 2022

Price target decreased to R14.60

Price target decreased to R14.60

Price target decreased to R15.15

Upcoming dividend of R0.75 per share

Full year 2021 earnings released: FFO R0.81 per share (vs R1.05 in FY 2020)

Price target increased to R16.55

First half 2021 earnings released: EPS R0.53 (vs R0.36 in 1H 2020)

Revenue misses expectations

Fortress REIT Limited to Report First Half, 2021 Results on Mar 10, 2021

New 90-day high: R13.94

New 90-day high: R13.53

CEO, MD & Executive Director recently bought R51k worth of stock

COO & Executive Director recently sold R906k worth of stock

CEO, MD & Executive Director exercised options to buy R692k worth of stock.

Fortress REIT Limited Announces Executive Changes

New 90-day low: R11.94

The clients of Foord Asset Management Proprietary Limited acquired a stake in Fortress REIT Limited (JSE:FFA).

Upcoming Dividend of R0.23 Per Share

An unknown buyer acquired an unknown minority stake in Fortress REIT Limited (JSE:FFA).

Price target lowered to R15.03

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age